IDEAS home Printed from https://ideas.repec.org/a/pal/jintbs/v37y2006i5p687-698.html
   My bibliography  Save this article

The impact of macroeconomic variables, demographic structure and compulsory superannuation on share prices: the case of Australia

Author

Listed:
  • Wilson Huynh

    (School of Economics and Finance, University of Western Sydney, Penrith South DC, Australia)

  • Girijasankar Mallik

    (School of Economics and Finance, University of Western Sydney, Penrith South DC, Australia)

  • Samanthala Hettihewa

    (Faculty of Business Administration, Ontario, Canada)

Abstract

This paper investigates the impact of the population in the 40–64 age band on share prices, using an annual time series data set for the period 1965–2002, and the impact of the superannuation fund on share prices using quarterly time series data for the period 1988 Q1 to 2002 Q4. In accordance with Poterba's suggestion, we have also used real GDP, interest rates and inflation as control variables in both models. Using cointegration and the error correction mechanism we found that the specified models are robust. The variables under study for both models are cointegrated, and long-run relationships exist between the variables. We also found that the population in the 40–64 age band and the superannuation fund positively and significantly affect share prices separately in the long run. Journal of International Business Studies (2006) 37, 687–698. doi:10.1057/palgrave.jibs.8400220

Suggested Citation

  • Wilson Huynh & Girijasankar Mallik & Samanthala Hettihewa, 2006. "The impact of macroeconomic variables, demographic structure and compulsory superannuation on share prices: the case of Australia," Journal of International Business Studies, Palgrave Macmillan;Academy of International Business, vol. 37(5), pages 687-698, September.
    • Handle: RePEc:pal:jintbs:v:37:y:2006:i:5:p:687-698
    as

    Download full text from publisher

    File URL: http://www.palgrave-journals.com/jibs/journal/v37/n5/pdf/8400220a.pdf
    File Function: Link to full text PDF
    Download Restriction: Access to full text is restricted to subscribers.
    File URL: http://www.palgrave-journals.com/jibs/journal/v37/n5/full/8400220a.html
    File Function: Link to full text HTML
    Download Restriction: Access to full text is restricted to subscribers.
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Jingoo Kang & Jeoung Yul Lee & Pervez N. Ghauri, 2017. "The Interplay of Mahalanobis Distance and Firm Capabilities on MNC Subsidiary Exits from Host Countries," Management International Review, Springer, vol. 57(3), pages 379-409, June.
    2. Hua Fan, John & Michalski, Lachlan, 2020. "Sustainable factor investing: Where doing well meets doing good," International Review of Economics & Finance, Elsevier, vol. 70(C), pages 230-256.
    3. Hagigi, Moshe & Sivakumar, Kumar, 2009. "Managing diverse risks: An integrative framework," Journal of International Management, Elsevier, vol. 15(3), pages 286-295, September.
    4. Li, Wen & Guo, Bin & Xu, Gangxiang, 2017. "Making the next move: When does the newness of experience matter in overseas sequential entries of multinational companies?," International Business Review, Elsevier, vol. 26(5), pages 908-926.
    5. R. Ratneswary V. Rasiah, 2010. "Macroeconomic Activity And The Malaysian Stock Market: Empirical Evidence Of Dynamic Relations," The International Journal of Business and Finance Research, The Institute for Business and Finance Research, vol. 4(2), pages 59-69.
    6. Hettihewa, Samanthala & Saha, Shrabani & Zhang, Hanxiong, 2018. "Does an aging population influence stock markets? Evidence from New Zealand," Economic Modelling, Elsevier, vol. 75(C), pages 142-158.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:pal:jintbs:v:37:y:2006:i:5:p:687-698. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Sonal Shukla or Springer Nature Abstracting and Indexing (email available below). General contact details of provider: http://www.palgrave-journals.com/ .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.