Macroeconomic influences on the financial markets
DOI:
https://doi.org/10.14422/icade.i105.y2018.001Keywords:
asset valuation models, stock market indices, macroeconomic variables, Capital Asset Pricing Model (CAPM), Arbitrage Pricing Theory (APT)Abstract
In the financial literature, the relationship between the evolution of stock market indices and macroeconomic variables is discussed from the study of the models of valuation of financial assets. This essay reviews the principal results obtained by the empirical evidence with respect to this subject, starting from the Capital Asset Pricing Model (CAPM), whose development will lead to the Arbitrage Pricing Theory (APT) and its subsequent breakdown in the multifactorial models of valuation of financial assets with macroeconomic variables previously defined.References
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