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Academic Journal of Business & Management, 2023, 5(15); doi: 10.25236/AJBM.2023.051516.

The Impact of Macro Factors on Stock Indexes


Mengmeng Ling

Corresponding Author:
Mengmeng Ling

University of Nottingham, Nottingham, Nottinghamshire, NG7 2RD, United Kingdom


This paper aims to discuss the impact of macro factors, including Exchange rate, Consumer Price Index (CPI), Exports value, Interest rate, Money Supply (M2), Producer Price Index (PPI), Total reserves, and Economic Policy Uncertainty index (EPU). Some macroeconomic factors have impacts on stock returns, while others may have little effects. The first part is to discuss the methods used in this research and the purpose of the next part is to introduce data and database. The third part is the most important, which introduces the process of quantitative analysis and discussion of the results. Finally, a conclusion is given.


macro factors, stock returns, quantitative analysis, exchange rate, CPI, exports value, interest rate, M2, PPI, total reserves, EPU

Cite This Paper

Mengmeng Ling. The Impact of Macro Factors on Stock Indexes. Academic Journal of Business & Management (2023) Vol. 5, Issue 15: 101-107. https://doi.org/10.25236/AJBM.2023.051516.


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