Artikel
Is consumer confidence an indicator of JSE performance?
While most studies examine the impact of business confidence on market performance, we instead focus on the consumer because consumer spending habits are a natural extension of trading activity on the equity market. This particular study examines investor sentiment as measured by the Consumer Confidence Index in South Africa and its effect on the Johannesburg Stock Exchange (JSE). We employ Granger causality tests to investigate the relationship across time between the Consumer Confidence Index and market performance. The results show weak evidence of a contemporaneous relationship; however, significant evidence of a Granger caused relationship is apparent. Further, changes in investor sentiment Granger-cause changes in the two indices used, generally with a lag of 9 and 12 months, but not vice versa. Thus, we find that Consumer Confidence leads JSE performance during our sample period. Our research provides evidence contradicting the common perception of consumer confidence lagging market performance, particularly in the South African context.
- Sprache
-
Englisch
- Erschienen in
-
Journal: Contemporary Economics ; ISSN: 2084-0845 ; Volume: 8 ; Year: 2014 ; Issue: 3 ; Pages: 257-273 ; Warsaw: Vizja Press & IT
- Klassifikation
-
Wirtschaft
Econometrics
Financial Econometrics
General Equilibrium and Disequilibrium: Financial Markets
Expectations; Speculations
- Thema
-
consumer confidence
financial markets
South Africa
behavioral finance
- Ereignis
-
Geistige Schöpfung
- (wer)
-
Solanki, Kamini
Seetharam, Yudhvir
- Ereignis
-
Veröffentlichung
- (wer)
-
Vizja Press & IT
- (wo)
-
Warsaw
- (wann)
-
2014
- DOI
-
doi:10.5709/ce.1897-9254.144
- Handle
- Letzte Aktualisierung
-
10.03.2025, 11:45 MEZ
Datenpartner
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
Objekttyp
- Artikel
Beteiligte
- Solanki, Kamini
- Seetharam, Yudhvir
- Vizja Press & IT
Entstanden
- 2014
Ähnliche Objekte (12)
Poverty in the regions of the European Union: Measurement with a composite indicator
Corporate Governance and Pension Fund Performance
Performance persistence of equity funds in Hungary
Job satisfaction, effort, and performance: A reasoned action perspective
Social factors and performance of elite which hinder organizational development
Influence of a company's social initiatives on the consumer attitude towards it: Results of experimental research
Merger and acquisition in the banking sector
Divided co-ownership and matrimonial property in legal regulations of Slovak Republic
Multicriterial hierarchy methods applied in consumption demand analysis: The case of Romania
Comparing dividend puzzle solutions by Polish, Canadian, Norwegian and American executives
Neuroeconomic conditioning of the influence of a market demand of consumers on an innovative character of Polish companies
Complementary person-environment fit as a predictor of job pursuit intentions in the service industry
Poverty in the regions of the European Union: Measurement with a composite indicator
Corporate Governance and Pension Fund Performance
Performance persistence of equity funds in Hungary
Job satisfaction, effort, and performance: A reasoned action perspective
Social factors and performance of elite which hinder organizational development
Influence of a company's social initiatives on the consumer attitude towards it: Results of experimental research
Merger and acquisition in the banking sector
Divided co-ownership and matrimonial property in legal regulations of Slovak Republic
Multicriterial hierarchy methods applied in consumption demand analysis: The case of Romania
Comparing dividend puzzle solutions by Polish, Canadian, Norwegian and American executives
Neuroeconomic conditioning of the influence of a market demand of consumers on an innovative character of Polish companies
Complementary person-environment fit as a predictor of job pursuit intentions in the service industry
Poverty in the regions of the European Union: Measurement with a composite indicator
Corporate Governance and Pension Fund Performance
Performance persistence of equity funds in Hungary
Job satisfaction, effort, and performance: A reasoned action perspective
Social factors and performance of elite which hinder organizational development
Influence of a company's social initiatives on the consumer attitude towards it: Results of experimental research
Merger and acquisition in the banking sector
Divided co-ownership and matrimonial property in legal regulations of Slovak Republic
Multicriterial hierarchy methods applied in consumption demand analysis: The case of Romania
Comparing dividend puzzle solutions by Polish, Canadian, Norwegian and American executives
Neuroeconomic conditioning of the influence of a market demand of consumers on an innovative character of Polish companies