期刊名称：International Journal of Academic Research in Business and Social Sciences
电子版ISSN：2222-6990
出版年度：2012
卷号：2
期号：6
页码：559-573
出版社：Human Resource Management Academic Research Society
摘要：Relationship between stock returns and macroeconomic variables of interest to many researchers have been, But so far not reached a definitive conclusion about this relationship. This relationship varies from country to country due to the economic structure provides different results. In this study the impact of macroeconomic variables including exchange rates, world gold prices, inflation, liquidity and oil price on the stock returns index in Tehran Stock Exchange data is evaluated monthly over the period 1379 to 1389 by " GACH " economic model. Results showed that the gold price , inflation and exchange rate variables influencing on the stock return and oil price and liquidity had no impact on the stock returns. The results indicate that there is a lever on Tehran stock market
