Examining the relationship between digital currency price fluctuations with stock index, stock liquidity and stock trading volume
Subject Areas : Investments
Mohammad Reza Rajaei
1
,
Maryam Emamimibody
2
1 - Department of Accounting, ShahinShahr Branch, Islamic Azad University, ShahinShahr, Iran
2 - Department of Accounting, ShahinShahr Branch, Islamic Azad University, ShahinShahr, Iran
Keywords: Stock trading volume, stock index, stock liquidity, digital currency price fluctuations.,
Abstract :
Purpose: This research is to investigate the relationship between digital currency price fluctuations with stock index, stock liquidity and the volume of stock transactions in Tehran Stock Exchange. Research methodology: The statistical sample of this research consists of 105 companies from among the companies admitted to the Tehran Stock Exchange during the years 2013 to 2014. To analyze the data and test the hypotheses, multivariate regression models were used using the combined data method. Findings The results of the research showed that there is a positive and significant relationship between digital currency price fluctuations, stock liquidity, stock trading volume and stock price index of companies in the stock exchange. Therefore, since digital currency rate fluctuations increase the liquidity of stocks, the volume of stock transactions and the stock price index, it is necessary to consider the increasing changes in the liquidity of stocks, the volume of stock transactions and the stock price index in the conditions of increasing fluctuations in the digital currency rate by companies. It is necessary for the purpose of increasing profits or increasing capital, as well as people in order to manage the asset portfolio. Originality/scientific added value: The researches conducted in relation to digital currencies in Iran are more about the theory and translation of theoretical literature about digital currencies and pay little attention to the relationship and impact of exchange rate fluctuations on the index, price, liquidity and volume of stock transactions in The exchange is assigned.
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