The relationship between Malaysia crude oil prices, macroeconomic variables and the Islamic stock market in Malaysia: evident from FTSE bursa Malaysia emas shariah index / Norshila Mohd Zain

This paper attempts to investigate the relationship between crude oil price, macroeconomic variables and the Islamic stock market in Malaysia. The independent variables are Malaysia crude oil price, Malaysia inflation rates and exchange rates of Ringgit Malaysia per US Dollar. The dependent variable...

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Bibliographic Details
Main Author:	Mohd Zain, Norshila
Format:	Student Project
Language:	English
Published:	Faculty of Business and Management 2014
Subjects:	Macroeconomics Investment, capital formation, speculation
Online Access:	http://ir.uitm.edu.my/id/eprint/19573/ http://ir.uitm.edu.my/id/eprint/19573/1/PPb_NOORSHILA%20MOHD%20ZAIN%20BM%20J%2014_5.pdf

id	uitm-19573
recordtype	eprints
spelling	uitm-195732018-10-08T02:46:53Z http://ir.uitm.edu.my/id/eprint/19573/ The relationship between Malaysia crude oil prices, macroeconomic variables and the Islamic stock market in Malaysia: evident from FTSE bursa Malaysia emas shariah index / Norshila Mohd Zain Mohd Zain, Norshila Macroeconomics Investment, capital formation, speculation This paper attempts to investigate the relationship between crude oil price, macroeconomic variables and the Islamic stock market in Malaysia. The independent variables are Malaysia crude oil price, Malaysia inflation rates and exchange rates of Ringgit Malaysia per US Dollar. The dependent variable is FTSE Bursa Malaysia Emas Shariah Index (FBMES). To identify the factors that affect the Islamic stock market performance in Malaysia, this study applied the Ordinary Least Square (OLS) method and Granger causality test using the monthly data over the period of January 2008 until January 2014. The OLS method results suggest that the crude oil price has a positive significant relationship with the FBMES prices while inflation rates and exchange rates have a positive but do not significant with the FBMES. The overall result of Granger causality test suggest that only exchange rates granger causes the Islamic stock prices while the Islamic stock prices only Granger causes inflation rate. Thus, OLS method suggests that factor affect FBMES the most is the Malaysia crude oil prices while Granger Causality Test suggests that the exchange rate of Ringgit Malaysia per US Dollar granger causes Islamic stock market in Malaysia. Faculty of Business and Management 2014-12 Student Project NonPeerReviewed text en http://ir.uitm.edu.my/id/eprint/19573/1/PPb_NOORSHILA%20MOHD%20ZAIN%20BM%20J%2014_5.pdf Mohd Zain, Norshila (2014) The relationship between Malaysia crude oil prices, macroeconomic variables and the Islamic stock market in Malaysia: evident from FTSE bursa Malaysia emas shariah index / Norshila Mohd Zain. [Student Project]
repository_type	Digital Repository
institution_category	Local University
institution	Universiti Teknologi MARA
building	UiTM Institutional Repository
collection	Online Access
language	English
topic	Macroeconomics Investment, capital formation, speculation
spellingShingle	Macroeconomics Investment, capital formation, speculation Mohd Zain, Norshila The relationship between Malaysia crude oil prices, macroeconomic variables and the Islamic stock market in Malaysia: evident from FTSE bursa Malaysia emas shariah index / Norshila Mohd Zain
description	This paper attempts to investigate the relationship between crude oil price, macroeconomic variables and the Islamic stock market in Malaysia. The independent variables are Malaysia crude oil price, Malaysia inflation rates and exchange rates of Ringgit Malaysia per US Dollar. The dependent variable is FTSE Bursa Malaysia Emas Shariah Index (FBMES). To identify the factors that affect the Islamic stock market performance in Malaysia, this study applied the Ordinary Least Square (OLS) method and Granger causality test using the monthly data over the period of January 2008 until January 2014. The OLS method results suggest that the crude oil price has a positive significant relationship with the FBMES prices while inflation rates and exchange rates have a positive but do not significant with the FBMES. The overall result of Granger causality test suggest that only exchange rates granger causes the Islamic stock prices while the Islamic stock prices only Granger causes inflation rate. Thus, OLS method suggests that factor affect FBMES the most is the Malaysia crude oil prices while Granger Causality Test suggests that the exchange rate of Ringgit Malaysia per US Dollar granger causes Islamic stock market in Malaysia.
format	Student Project
author	Mohd Zain, Norshila
author_facet	Mohd Zain, Norshila
author_sort	Mohd Zain, Norshila
title	The relationship between Malaysia crude oil prices, macroeconomic variables and the Islamic stock market in Malaysia: evident from FTSE bursa Malaysia emas shariah index / Norshila Mohd Zain
title_short	The relationship between Malaysia crude oil prices, macroeconomic variables and the Islamic stock market in Malaysia: evident from FTSE bursa Malaysia emas shariah index / Norshila Mohd Zain
title_full	The relationship between Malaysia crude oil prices, macroeconomic variables and the Islamic stock market in Malaysia: evident from FTSE bursa Malaysia emas shariah index / Norshila Mohd Zain
title_fullStr	The relationship between Malaysia crude oil prices, macroeconomic variables and the Islamic stock market in Malaysia: evident from FTSE bursa Malaysia emas shariah index / Norshila Mohd Zain
title_full_unstemmed	The relationship between Malaysia crude oil prices, macroeconomic variables and the Islamic stock market in Malaysia: evident from FTSE bursa Malaysia emas shariah index / Norshila Mohd Zain
title_sort	relationship between malaysia crude oil prices, macroeconomic variables and the islamic stock market in malaysia: evident from ftse bursa malaysia emas shariah index / norshila mohd zain
publisher	Faculty of Business and Management
publishDate	2014
url	http://ir.uitm.edu.my/id/eprint/19573/ http://ir.uitm.edu.my/id/eprint/19573/1/PPb_NOORSHILA%20MOHD%20ZAIN%20BM%20J%2014_5.pdf
first_indexed	2023-09-18T23:02:51Z
last_indexed	2023-09-18T23:02:51Z
_version_	1777418288781852672

The relationship between Malaysia crude oil prices, macroeconomic variables and the Islamic stock market in Malaysia: evident from FTSE bursa Malaysia emas shariah index / Norshila Mohd Zain

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