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23rd European Regional ITS Conference, Vienna 2012 >
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| Title: | | Causal interrelations among market fundamentals: Evidence from the Europen telecommunications sector  |
| Authors: | | Agiakloglou, Christos Gkouvakis, Michalis |
| Issue Date: | | 2012 |
| Series/Report no.: | | 23rd European Regional Conference of the International Telecommunication Society, Vienna, Austria, 1-4 July 2012 |
| Abstract: | | This paper investigates the interdependence of stock returns with some other financial variables applied to several European Telecommunications institutions. In particular, using a multivariate vector autoregressive (VAR) approach this study examines the relation, the direction of the relation, as well as the effects among stock returns, index returns, earnings, capital expenditures and interest rate for companies that play major role in their home stock markets. Unlike the fact that many other previous studies have indicated clear findings of the direction of the causality between those variables, this research cannot support a uniform behavior, although, the selected telecommunications companies have many common characteristics. |
| Subjects: | | Vector autoregressive analysis causal relations impulse responses financial variable Telecommunications market |
| JEL: | | C22 C58 G14 L96 |
| Document Type: | | Conference Paper |
| Appears in Collections: | | 23rd European Regional ITS Conference, Vienna 2012
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