Foreign investors’ influence towards small stock exchanges boom and bust: Macedonian stock exchange case

Dimche Lazarevski

MPRA Paper from University Library of Munich, Germany

Abstract: This paper aims to answer the question if and how much the foreign investors influence the boom and bust of small stock exchanges. It examines the impact of the foreign investors’ turnover towards small stock exchange turnover, particularly the Macedonian Stock Exchange. Based on the Macedonian Stock Exchange data for the period of January 2006 to July 2009, I find strong evidence that for a small and open stock exchange such as the Macedonian Stock Exchange, foreign investors substantially contributes to the Stock Exchange boom and bust.

Keywords: Stock Exchange; Foreign Investors; Turnover; Linear Regression (search for similar items in EconPapers)
JEL-codes: C35 G01 G12 N24 O16 (search for similar items in EconPapers)
Date: 2011-09
References: View complete reference list from CitEc
Citations: View citations in EconPapers (1)

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