| dc.description.abstract | Macroeconomic factors have progressively affected stock return within the diversion, that makes several investors additional curious about macro problems. Applying two main methods, the Multiple Regression Model and Capital Asset Pricing Method, the target is exploring the effects of macroeconomic factors on the Vietnam stock market return. Interest rate and industrial production are two main factors the paper analyzed with the monthly data from January 2013 to December 2018. During the aforementioned research, one variable specifically industrial production is added, that contains a reference to the stock return. Additionally, with the large influence of the macroeconomy on the Vietnam stock syndicate, the paper applying CAPM to test the risk impact on VN30 and HNX30. The exploitation of the LS technique and running regression, this paper shows findings that interest rate is significant on HOSE and HNX, in distinction, industrial production is insignificant. Since then, through the CAPM model, the test show result that the impact of economic variables can have an effect on positive alongside the robust impact on VN30 and HNX30. There are several papers discuss stock return and macroeconomic factors on worldwide, to this paper, it will consult with the result of macroeconomic variables listed to the stock on HOSE and HNX market return, serving to readers perceive a lot of experience to this relationship. There is no corporate bond in Vietnam market using in this paper. Prior testing the influence of macroeconomic circumstances to stock market return, it seems to be specific first time mixing this two method for this paper to combine multiple regression analysis and CAPM to work out the expected purpose of this study. | en_US |
