Is Bucharest Stock Exchange under the Influence of the Five Traded Financial Investment Companies?

The present paper will try to determine if Bucharest Stock Exchange activity is under the influence of the five traded Financial Investment Companies (called also ‘Societati de Investitii Financiare’ or SIFs). The Financial Investment Companies were introduced at Bucharest Stock Exchange listing in...

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Bibliographic Details
Published inEkonomski vjesnik Vol. XXIII; no. 2
Main Authors Cornelia Pop, Calin Vamos, Maria Craciun
Format Journal Article
LanguageEnglish
Published Faculty of Economics and Business in Osijek 01.12.2010
Subjects
capital market
financial investment companies
Granger-causality
regression
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Summary:The present paper will try to determine if Bucharest Stock Exchange activity is under the influence of the five traded Financial Investment Companies (called also ‘Societati de Investitii Financiare’ or SIFs). The Financial Investment Companies were introduced at Bucharest Stock Exchange listing in November 1999 and since November 2000 they have a dedicated index, BET-Fi. The direct observations made over the listing period of above mentioned companies suggested the idea that the transactions in Financial Investment Companies might have an important impact on Romanian capital market activity. Inside the current paper, authors will analyze different series of data using regression analysis and Granger-causality tests in order to confirm or reject the hypothesis formulated in the title.
ISSN:0353-359X
1847-2206