Stock Returns and Inflation: Evidence from Emerging Markets in Asia

Melati Laksmindra Isnandari; Dony Abdul Chalid

doi:10.21002/icmr.v9i1.8554

Stock Returns and Inflation: Evidence from Emerging Markets in Asia

Melati Laksmindra Isnandari, Dony Abdul Chalid

Department of Management

Research output: Contribution to journal › Article › peer-review

Abstract

This study examines the capability of stock from various industries to act as an inflation-hedge instrument, specifically in eight emerging-market Asian countries. By using monthly data for the period from 2001 to 2014, this study focuses on the relation between stock returns and inflation. The results of this study indicate that stocks from some non-cyclical industries have the capability to act as inflation-hedge instruments. Stocks that have the capability to inflation-hedge are come from industries with the natural characteristic of being a defensive industry.

Original language	English
Pages (from-to)	53-61
Journal	Indonesian Capital Market Review
Volume	9
Issue number	1
DOIs	https://doi.org/10.21002/icmr.v9i1.8554
Publication status	Published - 1 Dec 2017

Keywords

Inflation; Hedging; Stocks; Industry; Emerging-Market

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10.21002/icmr.v9i1.8554Licence: CC BY-NC-SA

http://journal.ui.ac.id/index.php/icmr/article/view/8555Licence: CC BY-NC-SA

Cite this

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title = "Stock Returns and Inflation: Evidence from Emerging Markets in Asia",

abstract = "This study examines the capability of stock from various industries to act as an inflation-hedge instrument, specifically in eight emerging-market Asian countries. By using monthly data for the period from 2001 to 2014, this study focuses on the relation between stock returns and inflation. The results of this study indicate that stocks from some non-cyclical industries have the capability to act as inflation-hedge instruments. Stocks that have the capability to inflation-hedge are come from industries with the natural characteristic of being a defensive industry.",

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Stock Returns and Inflation: Evidence from Emerging Markets in Asia

Abstract

Keywords

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