Influence of Macro-Economic Variables on Foreign and Local  Trading Behaviour in Colombo Stock Exchange

Wijethunga, A. W. G. C. N; Dayaratne, D. A. I; Dharmaratne, D. G.

dc.contributor.author	Wijethunga, A. W. G. C. N
dc.contributor.author	Dayaratne, D. A. I
dc.contributor.author	Dharmaratne, D. G.
dc.date.accessioned	2021-01-15T08:52:26Z
dc.date.available	2021-01-15T08:52:26Z
dc.date.issued	2016-10-10
dc.identifier.isbn	978-955-644-051
dc.identifier.uri	http://repo.lib.sab.ac.lk:8080/xmlui/handle/123456789/1501
dc.description.abstract	This paper attempts to investigate the impact of macroeconomic variables on the trading pattern of domestic institutional and individual, foreign institutional and individual investors in Colombo Stock Exchange (CSE) during 2005 to 2015. We selected Treasury bill rates (91 days, 182 days, and 364 days), Exchange rate and Market Index as macro-economic variables. Autoregressive Distributed Lag model (ARDL) with error correction model is used to enhance the purpose of this study. Findings established a Long run equilibrium relationship between macro-economic variables and foreign institutional and domestic investors trading. No short run equilibrium of all investors is observed. Long run ARDL coefficients revealed that ASPI negatively effect on the foreign individuals. The results remark that ASPI positively effect on trading of domestic investors in short run. Further, the findings strongly support to establish that domestic investors consider ASPI index in short term investments because changes in the macro environment fully reflected in the market index.	en_US
dc.language.iso	en	en_US
dc.publisher	Belihuloya, Faculty of Management Studies, Sabaragamuwa university of Sri Lanka	en_US
dc.subject	Colombo Stock Exchange	en_US
dc.subject	Foreign Investors	en_US
dc.subject	Local Investors	en_US
dc.subject	Macro economic Variables	en_US
dc.title	Influence of Macro-Economic Variables on Foreign and Local Trading Behaviour in Colombo Stock Exchange	en_US
dc.type	Article	en_US