This study examines macroeconomic risk factors in the context of the Australian stock market. It extends the existing Australian studies by investigating the relationship between macroeconomic news and stock market returns/return volatility at daily a level. The study covers the period before, during and after the Global Financial Crisis in 2008 to determine whether the effects of news differ during different phases of stock market activity. The main finding of this thesis Is that macroeconomic fundamentals -such as unemployment, the consumer price index and real gross domestic product - matter only after the onset of the Crisis.
|Award date||16 Aug 2016|
|Publication status||Unpublished - 2016|