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The impact of the Dubai International Airport's activity volume on the Emirati stock market

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  • Juan M. Dempere
  • Kennedy Prince Modugu

Abstract

The goal of this research work is to determine the predictive power of the activity volume at the Dubai International Airport (DXB) over the Emirati stock market by applying the GARCH, EGARCH, TGARCH, and PGARCH models. Our results provide evidence that the DXB's passenger traffic has explanatory power over the Emirati stock market. Specifically, we find that the logarithmic monthly change of the DXB's passenger traffic has a positive and significant relationship with the ADX stock market index's monthly log-returns. We also find that two analysed Emirati stock markets indexes have positive and significant relationships with both the crude oil price and the log-returns of a world stock market index.

Suggested Citation

  • Juan M. Dempere & Kennedy Prince Modugu, 2022. "The impact of the Dubai International Airport's activity volume on the Emirati stock market," International Journal of Business Performance Management, Inderscience Enterprises Ltd, vol. 23(1/2), pages 118-134.
    • Handle: RePEc:ids:ijbpma:v:23:y:2022:i:1/2:p:118-134
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