Nexus Between Sectoral Shift and Stock Return: Insights From Bangladesh

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Author(s): Mosharrof Hosen (Faculty of Business and Finance, Universiti Tunku Abdul Rahman, Kampar, Malaysia), Mohammed Imran (DualConcept, Jakarta, Indonesia)and Mohammad Ashraful Ferdous Chowdhury (Department of Business Administration, Shahjalal University of Science and Technology, Bangladesh)
Copyright: 2021
Volume: 12
Issue: 1
Pages: 19
Source title: International Journal of Asian Business and Information Management (IJABIM)
Editor(s)-in-Chief: Patricia Ordóñez de Pablos (Universidad de Oviedo, Spain)
DOI: 10.4018/IJABIM.20210101.oa5

Keywords: Business & Management / Business Science Reference / Global Business

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Abstract

The objective of this study is to examine the impact of sectoral shift on the stock return of Bangladesh. This study employs auto-regressive distributive lag (ARDL) approach using the weekly data of various sectoral indices of Bangladesh over the period from May 1999 to September 2016. The findings tend to indicate that there has possible sectoral portfolio diversification in the market and ‘general product industry' is the most exogenous and profitable sector from the rest. This study is one of the first attempts of the sectoral analysis and its impact on the stock return with the reference to Bangladesh. Furthermore, this study can be a benchmark for the policymakers of emerging economies to find the impact of economic transformation in the stock returns of the equity markets.

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