Please use this identifier to cite or link to this item: https://dspace.ctu.edu.vn/jspui/handle/123456789/5053
Title: Fisher Theory and Stock Returns: An empirical investigation for industry stocks on Vietnamese stock market
Authors: Lê, Long Hậu
Keywords: Industry stock returns
Fisher hypothesis
Vietnamese stock market
Hedge
Issue Date: 2017
Series/Report no.: The International Journal of Engineering and Science;6 .- p.39-45
Abstract: This paper examines the Fisher hypothesis using 24 industry stocks in Vietnamese stock market. Empirical results in both ex post and ex ante models show a clear rejection of one-to-one relationship between stock returns and (actual/expected/unexpected) inflation, for all industry stock returns. Interestingly, the Fisher hypothesis that common stocks can provide a complete hedge against expected inflation is strongly rejected, given these findings. However, the results show that a number of industry stocks can provide a partial hedge against both ex post and expected inflation. This study has several implications for investors.
URI: http://localhost:8080//jspui/handle/123456789/5053
ISSN: 2319–1813
Appears in Collections:Tạp chí quốc tế

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