Document Type : Research Paper

Authors

• M. Bozorg Asl
• S.M. Razavi

Abstract

This article aims at identifying effective variables of macroeconomic on Tehran Stock Exchange returns. Variables which have been used to do the hypothesis test are Interest Rates, Interest Rates growth, GOP, GOP growth, Oil Prices and growth of Oil Prices. These variables have been considered as independent variables. The stock market return has been used as dependent variable. The measurement scope is over the period 1376-1385. The research shows that stock market return is relative to only interest rate.

Keywords

• Macro-economic variables
• Interest rate
• GOP
• Oil price
• stock return