Naslov
Consumer confidence and stock prices in Croatia

Autori
Benazić, Manuel ; Učkar, Dean

Vrsta, podvrsta i kategorija rada
Radovi u zbornicima skupova, cjeloviti rad (in extenso), znanstveni

Izvornik
Conomic and Social Development (Book of Proceedings), 27th International Scientific Conference on Economic and Social Development / Božina Beroš, M. ; Recker, N. ; Kozina M. - Varaždin : Varšava : Koprivnica : Varazdin Development and Entrepreneurship Agency, Varazdin, Croatia Faculty of Management University of Warsaw, Warsaw, Poland University North, Koprivnica, Croatia, 2018, 150-160

Skup
The 27th International Scientific Conference on Economic and Social Development

Mjesto i datum
Rim, Italija, 01.03.2018. - 02.03.2018

Vrsta sudjelovanja
Predavanje

Vrsta recenzije
Međunarodna recenzija

Ključne riječi
consumer confidence, stock prices, VAR model, Croatia

Sažetak
Consumer confidence plays an important role in predicting macroeconomic and financial variables since it contains consumers’ information regarding future economic developments. Optimistic consumers will spend more, thus increasing firms’ profits and stock prices. On the other side, increasing stock prices can boost consumer confidence. The aim of this study is to explore the relationship between the consumer confidence and stock prices in Croatia. Due to the absence of a long-run cointegration relationship, a vector autoregression (VAR) model is estimated. Obtained results indicate that an increase in the stock exchange equity index (CROBEX) increases consumer confidence index (CCI) whereby an increase in the consumer confidence index has no effect on the stock exchange equity index.

Izvorni jezik
Engleski

Znanstvena područja
Ekonomija

POVEZANOST RADA