آزمون تجربي رابطه تورم و بازده سهام در بورس اوراق بهادار تهران

Estimating the Relation between the Rate of Inflation and Returns on Stocks in Tehran Stock Exchange

The purpose of this paper is to analyze the relation between the rates of inflation and stock returns in Tehran Stock Exchange. There are different views on this relation.in economic literature. There is no agreement among economists on the Issue,one way or another. Some believe that there exists negative relation between these two variables, on the other hand, some economists are on the belief that there is no meaningful relation between them. In this paper we review some of the empirical literature about the relation between these two variables are reviewed and then the relation between the rates of inflation and returns on stocks in Tehran Stock Exchange in the period 1377-1382 have been stamated estimated and the results will be compared with the result of other research. In doing this VAR and Granger Causality Test have been useds. The results indicate that there is no meaningful relation between the rates of inflation & stock returns in Tehran Stock Exchange.