The impact of macroeconomics environment on Vietnam stock returns

Abstract

This paper estimates the impact of macroeconomic environment on Vietnam stock returns and drawing the conclusion of the impact of macro variables on stock market in order to offer some appropriate policies to improve stock market and provide investors of more information. This study uses multiple regression analysis with monthly dataset for recent years from 01/2004 to 08/2013 to evaluate the relationship between macroeconomic factors and stock returns. The model explains well the movement of stock return and shows that three variables (CPI, S&P500 and exchange rate) have significant effects on performance.