A Tale of the Ticker; Stock Market Capacity Building Hegemony and Temporal Performance in the Emerging Economies

Areeba Khan, Imran Chaudhry, Sohail Saeed and Muhammad Kamran Shahid

Journal of Accounting and Finance in Emerging Economies, 2020, vol. 6, issue 1, 33-52

Abstract: This paper aims to examine stock market with a capacity building perspective for economic growth, focusing on the factors that enhance stock market capitalization in the long term. This study evaluates cross country series data of 26 emerging countries listed at MSCI index, through a period of 2006 to 2019. The data were collected through World Bank, Pakistan Stock Exchange and SECP database. Vector Error correction model and Multiple Regression analysis were applied on data to analyze the impact of assorted factors on stock market capitalization to GDP as a measure of long term capacity.The findings suggest that political stability and corporate tax rate are two important factors that may have significant impact on stock market capitalization to GDP. This research is different from all past researches with respect to methodological, aeon and acclimatization perspective. Capacity building is a relatively new phenomenon adopted from complex adaptive ecosystems and most studies in this area are of theoretical nature. Moreover, the fact that this research has considered not only the long term but also short-term market capitalization perspective, adds to its overall value and originality.

Keywords: Capacity Building; Stock Market Capitalization; Economic Growth; Gross Domestic Product; Emerging Economies (search for similar items in EconPapers)
Date: 2020
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Persistent link: https://EconPapers.repec.org/RePEc:src:jafeec:v:6:y:2020:i:1:p:33-52

DOI: 10.26710/jafee.v6i1.1060

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