The Effect of Competitiveness Index on mobilization of financial resources in Selected Bourses

Subject Areas : Computational economics

mahdi Jafari ¹ ( Faculty Member of Tolou-e-Mehr Non-profit Institute of Higher Education )
Abolfazl Shahabadi ² ( Alzahra University )
Vahid omidi, ³ ( , Bu-Ali Sina University, )

Received: 2022-12-26 Accepted : 2023-04-26 Published : 2023-02-20

Keywords: Mobilization of Financial Resources, , , , Generalized Method of Moments, , Stock market, , Competitiveness,

Abstract :

The efficiency and performance of the stock market in mobilization of financial resources because of the impact on the amount and quality of investment has great importance in the economy. Although competitiveness is a set of institutions, policies and factors that can create a high return on production factors, including capital by maintaining and deepening in business, industry and the country. Therefore, competitiveness is one of the determinants of the returns of stock companies and, consequently, the mobilization of financial resources in the stock market. For this purpose, the present study examines the effects of competitive components on mobilization of financial resources in members of World Federation of Exchanges with using panel data and Generalized Method of Moments(GMM) data from 2007 to 2019.The results of the research show that innovation-driven factors (INV), efficiency-driven factors (EFF) and basically-based factors (BAS) have a positive and significant effect on investment flow of the stock market financial resources. Also, liquidity of the stock market and real interest rate have a positive and significant effect on investment flow of the stock market financial resources.