Study on the effect of Currency rate of return at TEDPIX and TEPIX on Tehran stock exchange using by ARDL regression

Subject Areas : Journal of Investment Knowledge

saeed moshtagh ¹ , Farhad Hosseinzadeh Lotfi ² , Mohammad Esmayeel Fadaeinejad ³

1 - Department of Management, Central Tehran Branch, Islamic Azad University, Tehran, Iran
2 - Department Of Mathematics, Science and Research Branch, Islamic Azad University, Tehran, Iran
3 - Department of Management, Shahid Beheshti University, Tehran, Iran

Received: 2020-02-01 Accepted : 2020-02-02 Published : 2022-03-21

Keywords: economic variables, Tehran Stock Exchange, Currency rate of return, TEPIX, TEDPIX,

Abstract :

The effect of economical variables at invest market is the most important subject in finance theory. Tehran stock exchange is emerge from special place. efficiency and Capital market development are dependent to be active this Entity in the country.Two important function of tehran stock exchange are gathering small saving and available liquidity in society and directing them to stock product process and services in the country. In this way identification effective factors at efficiency of securities return have significant effect in deeper analysis and taking more appropriate decision from investors. accordingly in this article we examined the effect of volatility currency rate of return as a macroeconomic variable at TEDPIX and TEPIX on Tehran stock exchange on between 1395-1398.In this article with the goal of identification the effect of volatility currency rate of return as a macroeconomic variable at TEDPIX and TEPIX on Tehran stock exchange, two principle theories test with Convergence relationship that as a result the Currency rate of return effect at TEDPIX and TEPIX on Tehran stock exchange with 4 days lag.

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