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Metal prices and stock market performance: is there an empirical link?
Kristianstad University, School of Health and Society, Avdelningen för Ekonomi och arbetsliv.
2017 (English)In: Resources Policy, ISSN 0301-4207, Vol. 52, 389-392 p.Article in journal (Refereed) Published
Abstract [en]

Most studies have focused on the role of oil and gold prices in the link between commodity prices and stock prices. This paper investigates the causal linkage between metal prices and share values for 10 European countries over the period of January 2011 to September 2016. On the basis of the bootstrap panel granger causality approach, the results show that the metal price index and stock price index are not causally related. The policy implication of this empirical finding is that the financial markets are informationally efficient in the sample countries' equity markets. Thus, the information contained in the metal price index cannot be used to predict the future values of the equity indexes.

Place, publisher, year, edition, pages
2017. Vol. 52, 389-392 p.
Keyword [en]
Stock price; Metal prices; European countries; Efficient market hypothesis
National Category
Economics and Business
Identifiers
URN: urn:nbn:se:hkr:diva-16787DOI: 10.1016/j.resourpol.2017.05.001OAI: oai:DiVA.org:hkr-16787DiVA: diva2:1097944
Available from: 2017-05-23 Created: 2017-05-23 Last updated: 2017-05-23Bibliographically approved

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CiteExportLink to record
Permanent link

Direct link
Cite
Citation style
  • apa
  • harvard1
  • ieee
  • modern-language-association-8th-edition
  • vancouver
  • Other style
More styles
Language
  • de-DE
  • en-GB
  • en-US
  • fi-FI
  • nn-NO
  • nn-NB
  • sv-SE
  • Other locale
More languages
Output format
  • html
  • text
  • asciidoc
  • rtf