Rafiqul Bhuyan, Mohammad Sogir Hossain Khandoker, Mahjuja Taznin, Md. Shanur Rahman and Lamia Akter

Correspondence: Mahjuja Taznin, mahjuja.taznin@aamu.edu

Department of Accounting and Finance, College of Business and Public Affairs, USA

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Abstract

The objective of the study is to explore various micro and macro variables that affect stock returns of the Dhaka Stock Exchange surrounding the global financial crisis. We collect a sample of 30 listed banks covering the period of 9 years (2009 – 2017) for our study. The results indicate that debt to asset ratio (D/A), market capitalization (MKT CAP), interest rate, and foreign exchange rate (ForEx Rate) have positive and significant relationships with stock returns. On the other hand, inflation and leverage have negative and significant influence on stock returns among the eight micro variables and four macroeconomic variables that were used in our analyses.

Keywords:

  Microeconomic & Macroeconomic Variables, DSE, OLS, Stock Returns and Panel data

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