THE EFFECTS OF THE MACROECONOMIC FACTORS ON THE BUCHAREST STOCK EXCHANGE DURING THE COVID-19 PANDEMIC

Cristina Balint () and Alexandra Derecichei ()
Additional contact information
Cristina Balint: Faculty of Business, BabeÅŸ-Bolyai University, Cluj-Napoca, Romania
Alexandra Derecichei: Faculty of Business, BabeÅŸ-Bolyai University, Cluj-Napoca, Romania

JOURNAL STUDIA UNIVERSITATIS BABES-BOLYAI NEGOTIA, 2023

Abstract: The purpose of the paper is to observe and analyze how the dynamics of macroeconomic factors influence the evolution of the Bucharest Stock Exchange (BVB) through the lens of the main stock indices (BET, BET-Plus, BET-FI), but also of the stock market capitalization. The research carried out consists of four stages. First, the monthly values of the macroeconomic factors considered were collected (inflation rate, reference interest rate, unemployment rate, RON-EURO and RON-USD exchange rates, producer price index, gold price, average salary and the Covid-19 number of cases) during the period 2020-2021, as well as the monthly values of the Bucharest Stock Exchange market indices (BETPlus, BET and BET-FI) and of the stock market capitalization. These data were collected from the websites: www.bvb.ro (Bucharest Stock Exchange), www.bnr.ro (National Bank of Romania), www.innse.ro (National Institute of Statistics) and www.ms.ro (Ministry of Health). Then, the descriptive statistics was used to describe the collected data (mean value, standard deviation, minimum/ maximum value). This step is followed by the use of the Pearson correlation to capture the correlation between each stock market index and the macroeconomic factor included in the analysis. And finally, multiple regression was used to see exactly how the Romanian stock market indices are influenced by any changes of macroeconomic factors.

Keywords: macroeconomic factors; Bucharest Stock Exchange; stock market indices; Covid-19 pandemic (search for similar items in EconPapers)
JEL-codes: B22 C32 G10 (search for similar items in EconPapers)
Date: 2023
References: Add references at CitEc
Citations:

Downloads: (external link)
https://tbs.ubbcluj.ro/RePEc/bbn/journl/Negotia_2_2023.pdf Revised version, 2023 (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:bbn:journl:2023_2_3_balint

Access Statistics for this article

JOURNAL STUDIA UNIVERSITATIS BABES-BOLYAI NEGOTIA is currently edited by Cornelia Pop

More articles in JOURNAL STUDIA UNIVERSITATIS BABES-BOLYAI NEGOTIA from Babes-Bolyai University, Faculty of Business Contact information at EDIRC.
Bibliographic data for series maintained by Cornelia Pop ( this e-mail address is bad, please contact ).