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International Econometric Conference of Vietnam

ECONVN 2018: Econometrics for Financial Applications pp 999–1013Cite as

The Effect of Macroeconomic Factors on Investor Purchase Decision: The Case Study of HOSE

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Part of the Studies in Computational Intelligence book series (SCI,volume 760)

Abstract

Purpose: The aim of this paper is to examine how macroeconomic factors affect investors purchase decision based on the volatile trading value of VN-index in the Ho Chi Minh Stock exchange.

Methodology: This study applies the quantitative approach as the major method. The quantitative analysis of this research will conduct by using R-software and SPSS with statistical technique including simple time series analysis, stationary testing parameters, model specification, and binary logistic regression analysis. The study uses the secondary data collected online from the period of 2008 to 2015. Specifically, this paper uses a total of 84 data points which are plenty for the effective regression analysis. This study attempts to provide the better understanding of investors’ behavior under effect of macroeconomic factors.

Findings: All measurement parameters in this study demonstrate as stationary factors and macroeconomic factors show the significant effects on investor purchase decision with regard to Inflation rate, Crude oil price, and Exchange rate. As a result, this research indicates the result of binary regression model related to the odd ratio equation and the level of accurate prediction of the model.

Value: There are various studies carried out to examine the macroeconomic effects on investor purchase decision, but very few of them observed the said effects with the empirical approach. For this reason, this study applies the new method of binary logistic regression in order to calculate the proportion of purchase decision.

Keywords

  • Investor purchase decision
  • Macroeconomic effect
  • Stock exchange market
  • HOSE
  • Vietnam

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Author information

Authors and Affiliations

  1. Department of Business, Saigon Institute of Technology, Ho Chi Minh City, Vietnam

    Tran Anh Tung

  2. International Economic Faculty, Banking University HCM City, Ho Chi Minh City, Vietnam

    Pham Van Kien

  3. Industrial and System Engineering Department, International University - VNUHCM, Ho Chi Minh City, Vietnam

    Ho Thanh Phong

Authors
  1. Tran Anh Tung
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  2. Pham Van Kien
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  3. Ho Thanh Phong
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Corresponding author

Correspondence to Pham Van Kien .

Editor information

Editors and Affiliations

  1. Banking University HCMC, Ho Chi Minh City, Vietnam

    Ly H. Anh

  2. Banking University HCMC, Ho Chi Minh City, Vietnam

    Le Si Dong

  3. Computer Science Department, University of Texas at El Paso, El Paso, Texas, USA

    Vladik Kreinovich

  4. Banking University HCMC, Ho Chi Minh City, Vietnam

    Nguyen Ngoc Thach

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Tung, T.A., Van Kien, P., Phong, H.T. (2018). The Effect of Macroeconomic Factors on Investor Purchase Decision: The Case Study of HOSE. In: Anh, L., Dong, L., Kreinovich, V., Thach, N. (eds) Econometrics for Financial Applications. ECONVN 2018. Studies in Computational Intelligence, vol 760. Springer, Cham. https://doi.org/10.1007/978-3-319-73150-6_72

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  • DOI: https://doi.org/10.1007/978-3-319-73150-6_72

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