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This paper examines the impact of commodity prices (palm oil price, oil price, and gold price), interest rate, and exchange rate on the Malaysian stock market performance. Employing the bounds test approach, the results of the study showed cointegrating relationships among variables. Specifically, the results revealed a significant influence of palm oil price on the stock market index. However, no significant influence was observed for both the oil price and gold price. Interest rate and exchange rate showed significant influences, which are consistent with past empirical studies. One important policy implication from this study is that the authorities should also pay attention to the effect of commodity prices, in addition to macroeconomic variables, in implementing relevant polices, as they may have a negative impact on the Malaysian stock market.
The performance of a stock market has always become the center of attention for market analysts and investors. Due to its significant role in the economy of a country, the performance of the stock market is always associated with the economic condition of a country. Because of that, this study intends to examine the impact of commodity prices in influencing the behavior of the stock market index specifically by focusing on the palm oil prices. Since Malaysia is one of the major producers of palm oil, the behavior of the palm oil price is expected to have an influence on the Malaysian stock market index. In pursuing the objective, we have adopted the bounds test approach to analyze the existence of cointegration relationship among the underlying variables of the Malaysian stock market index, interest rate, exchange rate and the price of palm oil. Using monthly data for the period of 1997M12 to 2012M9, results of an ARDL test indicates that all the variables employed are significant in influencing the Malaysian stock market index in the long run as well as in the short run.
The purpose of this study is to explore the influence of CEO Reputation on the Company Financial Distress. The population of the study is all non-financial companies that are listed on the Pakistan stock exchange (PSX). In this research, the final sample size is 285 companies that cover the period of the study from 2006 to 2017. CEO reputation plays important role in predicting financial distress. Based on the upper echelon theory, CEOs can influence in a company decisions making, value creation and financial reporting decisions based on their specific skills, reputation and personal characteristics. Previous studies in the context of Pakistan are lacking to check the association between CEO reputation and company financial distress. This study contributes to the literature and fills this gap. This study also suggest that to explore the link between CEO reputation and financial distress in the emerging market.
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