The relation between mutual fund flows, stock returns and macroeconomic variables: evidence from Portugal

Detalhes bibliográficos
Autor(a) principal: Lobão, Júlio
Data de Publicação: 2016
Outros Autores: Levi, André
Tipo de documento: Artigo
Idioma: eng
Título da fonte: Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)
Texto Completo: http://u3isjournal.isvouga.pt/index.php/PJFMA/article/view/172
Resumo: In this article we analyze the relations between mutual fund flows, stock market returns and macroeconomic variables during the period 2000-2012 inPortugal. We found evidence of a statistically significant positive co-movement between mutual fund flows and stock market returns which is consistent with a common reaction to information about future economic activity. Moreover, our results suggest that both mutual fund flows and stock market returns are forward-looking and help to forecast the evolution of macroeconomic variables. These results have relevant implications for all the decision-makers that need to forecast economic activity.
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spelling The relation between mutual fund flows, stock returns and macroeconomic variables: evidence from PortugalMutual fund flows; stock returns; future economic activity; macroeconomic variablesIn this article we analyze the relations between mutual fund flows, stock market returns and macroeconomic variables during the period 2000-2012 inPortugal. We found evidence of a statistically significant positive co-movement between mutual fund flows and stock market returns which is consistent with a common reaction to information about future economic activity. Moreover, our results suggest that both mutual fund flows and stock market returns are forward-looking and help to forecast the evolution of macroeconomic variables. These results have relevant implications for all the decision-makers that need to forecast economic activity.ISVOUGA-Instituto Superior de Entre Douro e Vouga2016-09-30info:eu-repo/semantics/publishedVersioninfo:eu-repo/semantics/articleapplication/pdfhttp://u3isjournal.isvouga.pt/index.php/PJFMA/article/view/172Portuguese Journal of Finance, Management and Accounting; Vol 2, No 4 (2016)2183-3826reponame:Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)instname:Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informaçãoinstacron:RCAAPenghttp://u3isjournal.isvouga.pt/index.php/PJFMA/article/view/172http://u3isjournal.isvouga.pt/index.php/PJFMA/article/view/172/90Lobão, JúlioLevi, Andréinfo:eu-repo/semantics/openAccess2023-05-31T13:58:43Zoai:u3isjournal.isvouga.pt:article/172Portal AgregadorONGhttps://www.rcaap.pt/oai/openaireopendoar:71602024-03-19T17:56:43.978453Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) - Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informaçãofalse
dc.title.none.fl_str_mv The relation between mutual fund flows, stock returns and macroeconomic variables: evidence from Portugal
title The relation between mutual fund flows, stock returns and macroeconomic variables: evidence from Portugal
spellingShingle The relation between mutual fund flows, stock returns and macroeconomic variables: evidence from Portugal
Lobão, Júlio
Mutual fund flows; stock returns; future economic activity; macroeconomic variables
title_short The relation between mutual fund flows, stock returns and macroeconomic variables: evidence from Portugal
title_full The relation between mutual fund flows, stock returns and macroeconomic variables: evidence from Portugal
title_fullStr The relation between mutual fund flows, stock returns and macroeconomic variables: evidence from Portugal
title_full_unstemmed The relation between mutual fund flows, stock returns and macroeconomic variables: evidence from Portugal
title_sort The relation between mutual fund flows, stock returns and macroeconomic variables: evidence from Portugal
author Lobão, Júlio
author_facet Lobão, Júlio
Levi, André
author_role author
author2 Levi, André
author2_role author
dc.contributor.author.fl_str_mv Lobão, Júlio
Levi, André
dc.subject.por.fl_str_mv Mutual fund flows; stock returns; future economic activity; macroeconomic variables
topic Mutual fund flows; stock returns; future economic activity; macroeconomic variables
description In this article we analyze the relations between mutual fund flows, stock market returns and macroeconomic variables during the period 2000-2012 inPortugal. We found evidence of a statistically significant positive co-movement between mutual fund flows and stock market returns which is consistent with a common reaction to information about future economic activity. Moreover, our results suggest that both mutual fund flows and stock market returns are forward-looking and help to forecast the evolution of macroeconomic variables. These results have relevant implications for all the decision-makers that need to forecast economic activity.
publishDate 2016
dc.date.none.fl_str_mv 2016-09-30
dc.type.status.fl_str_mv info:eu-repo/semantics/publishedVersion
dc.type.driver.fl_str_mv info:eu-repo/semantics/article
format article
status_str publishedVersion
dc.identifier.uri.fl_str_mv http://u3isjournal.isvouga.pt/index.php/PJFMA/article/view/172
url http://u3isjournal.isvouga.pt/index.php/PJFMA/article/view/172
dc.language.iso.fl_str_mv eng
language eng
dc.relation.none.fl_str_mv http://u3isjournal.isvouga.pt/index.php/PJFMA/article/view/172
http://u3isjournal.isvouga.pt/index.php/PJFMA/article/view/172/90
dc.rights.driver.fl_str_mv info:eu-repo/semantics/openAccess
eu_rights_str_mv openAccess
dc.format.none.fl_str_mv application/pdf
dc.publisher.none.fl_str_mv ISVOUGA-Instituto Superior de Entre Douro e Vouga
publisher.none.fl_str_mv ISVOUGA-Instituto Superior de Entre Douro e Vouga
dc.source.none.fl_str_mv Portuguese Journal of Finance, Management and Accounting; Vol 2, No 4 (2016)
2183-3826
reponame:Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)
instname:Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação
instacron:RCAAP
instname_str Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação
instacron_str RCAAP
institution RCAAP
reponame_str Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)
collection Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)
repository.name.fl_str_mv Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) - Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação
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