alexa The Influences of Macro-Economic Factors on Capital Mar
ISSN: 2167-0234

Journal of Business & Financial Affairs
Open Access

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Research Article

The Influences of Macro-Economic Factors on Capital Market Performance in Pakistan

Kabeer MA, Iqbal A, Najaf K and Najaf R*

Department of Accounting and Finance, University of Lahore, Islamabad Campus, Pakistan

*Corresponding Author:
Rabia Najaf
Department of Accounting and Finance
University of Lahore, Islamabad Campus
89/2-A, Sargodha 40100, Pakistan
Tel: 92483212335
E-mail: [email protected]

Received February 29, 2016; Accepted March 07, 2016; Published March 17, 2016

Citation: Kabeer MA, Iqbal A, Najaf K, Najaf R (2016) The Influences of Macro- Economic Factors on Capital Market Performance in Pakistan. J Bus Fin Aff 5:176. doi:10.4172/2167-0234.1000176

Copyright: © 2016 Kabeer MA, et al. This is an open-access article distributed under the terms of the Creative Commons Attribution License, which permits unrestricted use, distribution, and reproduction in any medium, provided the original author and source are credited.



The key determination of the present research is to examine the impact of selected major variables on stock return of the Pakistani emerging capital market Karachi Stock Exchange. The researches display that capital market is inclined by transform in major economic variables. This study observes impact of three major economic variables i.e. foreign direct investment, foreign exchange rate and inflation at Karachi stock exchange. The monthly data of ten years practice in this study. To reach the objectives, study uses the Ordinary Least Square (OLS) to estimate the correlation and regression model. The Durbin-Watson statistics 1.90 value indication that there are no serial correlations issues in study. And results show that significant negative impact of inflation and Foreign exchange rate and foreign direct investment negative insignificant impact on KSE dependent variable. And overall model good fit by probability of F-statistics which less than 5%.


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