Can governance quality predict stock market returns? New global evidence

Narayan, Paresh Kumar; Sharma, Susan Sunila; Thuraisamy, Kannan

doi:10.1016/j.pacfin.2015.02.007

Cited by 53 publications

(20 citation statements)

References 34 publications

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“…There is a need to re-examine the relationship of stock market performance and investor protection of developed countries and how stock markets' returns get effected in this regard. Narayan et al (2015) find governance quality, proxied by government stability, corruption, bureaucratic quality, democratic accountability and law and order, is a price risk factor for the countries that are not good at governance quality. The sample of 38 countries ranked based on their risk measured by standard and Poor credit rating (AAA to BBB negative).…”

Section: Literature Reviewmentioning

confidence: 93%

Measuring the impact of governance quality on stock market performance in developed countries

Imran

Ejaz²,

Spulbăr

et al. 2020

Economic Research-Ekonomska Istraživanja

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The aim of this article is to examine the relationship between stock market performance and country level governance indicators. A good quality of governance in a country ensures effective implementation of laws which can protect the investor and improve stock market performance and vice versa. Our study utilises annual stock returns and country level governance indicators for 25 developed countries from 1996 to 2018. The fixed effect estimation suggests that stock market performance and governance indicators share a positive relationship. Our findings suggest that high quality of governance is associated with higher returns on stock. Institutional quality is a preconditioned for financial developed that set the direction of change to reduce transaction costs and agency costs and make profitable projects available to firms that subsequently leads to higher demand for equity financing. These findings have significant implications for stock market policymakers and standard asset pricing models that only include market risk factors to predict future expected stock returns.

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Section: Literature Reviewmentioning

confidence: 93%

Measuring the impact of governance quality on stock market performance in developed countries

Imran

Ejaz²,

Spulbăr

et al. 2020

Economic Research-Ekonomska Istraživanja

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“…Amongst recent work that utilises non-traditional predictors of stock returns are:Narayan et al (2014b), who use mutual funds;Narayan et al (2014a), who use institutional quality; andNarayan et al (2015b), who use quality of governance. The main message emerging from these studies is that stock return predictability exists beyond the traditional predictors of stock returns.…”

mentioning

confidence: 99%

Stock return forecasting: Some new evidence

Phan

Sharma

Narayan

2015

International Review of Financial Analysis

Self Cite

192

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“…The prospective of fuzziness to improve predicting schemes present in most of the applications because of its compact nature between different data like numerical and qualitative. One liner regression analysis with fuzzy model [16] has been implemented by considering fuzzy data not the statistical. There are also researchers implementing fuzzy concept for prediction using time series data [17].…”

Section: Literature Studymentioning

confidence: 99%

Advanced Deep Learning Framework for Stock Value Prediction

Das¹,

Mishra²

2019

IJITEE

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The main attractive feature to stock market is speedy growth of stock economic value in short yoke of time. The investor analyses the demonstration, estimated value and growth of organizations before investing money in market. The analysis may not be enough by using conventional process or some available methods suggested by different researches. In present days large number of stocks are available in market it is very difficult to study each stock by help of very few suggested foretelling methods. To know the anticipated stock value we need some advanced prediction technology for stock market. This paper introduce an advanced skillful method to plan and analyze the different organizers stock execution in market and prognosticate best suitable stock by predicting close price of stock. The projected arrangement is based on multilayer deep learning neural Network optimized by Adam optimizer. Recent 6 years (2010-2016) data of different organizations are applied to the model to demonstrate the skillfulness of the projected proficient method. From result it has been ascertained that the projected framework is best suited to all different data set of various sectors. The prediction error is very minimal as visible from outcome graph of framework

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Can governance quality predict stock market returns? New global evidence

Cited by 53 publications

References 34 publications

Measuring the impact of governance quality on stock market performance in developed countries

Measuring the impact of governance quality on stock market performance in developed countries

Stock return forecasting: Some new evidence

Advanced Deep Learning Framework for Stock Value Prediction

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