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INVESTIGATING THE NEXUS BETWEEN MUTUAL FUND RETURN AND STOCK MARKET PERFORMANCE – EVIDENCE FROM PAKISTAN STOCK EXCHANGE

Muhammad Tariq () and Faizan Ehtesham ()
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Muhammad Tariq: Manager (R & D), Institute of Business Management
Faizan Ehtesham: Research Scholar, Ilma University and Capital Market Analyst

IBT Journal of Business Studies (JBS), 2018, vol. 14, issue 1, 14-3

Abstract: Purpose This study is aimed to determine the nexus between mutual fund returns and stock market returns in Pakistan. This study adds contribution by testing the causa-effect relation of mutual fund returns and macroeconomic factors on the stock returns in Pakistan. Methodology- This study is based on Panel data for 10 AMCs operating in Pakistan and macroeconomic factors for the period of 2007 to 2016. The hypothesis testing is based on panel data analysis, therefore the panel regression is applied via PLS, FEM and REM comparison. Findings- The study concludes that the there is significant effect of Equity Funds Returns on Stock Return. On the other hand, debt funds return and T-bills have the insignificant impact on Stocks Return. Policy Implication- This study recommends influential findings for the policy makers such as equity funds have positive effect on the stock market.

Keywords: Mutual Fund and Stock Market Stability; Debt Fund; Equity Fund (search for similar items in EconPapers)
Date: 2018
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Persistent link: https://EconPapers.repec.org/RePEc:aib:ibtjbs:v:14:y:2018:i:1:p:14-3

DOI: 10.46745/ilma.ibtjbs.2018.141.03

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