Macroeconomic factors and share returns:
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S.G.M. Fifield; D.M. Power; C.D. Sinclair
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Article
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2002
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John Wiley and Sons
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English
โ 119 KB
## Abstract This paper investigates the extent to which global and local economic factors explain returns in emerging stock markets (ESMs). The economic factors are determined using principal components analysis. The results suggest that the local economic variables included in this study can be su