This paper investigates the effects of the business cycle indicators on stock market indices of food industry companies in Iran stock market. Using dynamic panel and Panel VAR methods for seasonal data of 2001-2015, the results show that the effect of GDP and agricultural value-added as indicators of business cycle on stock market indices of sales volume, price index, net profit and stock return are positive. The results of panel VAR models also show that the shocks entered by GDP and agricultural value ?added have a different effect on stock market indices of sales volume, price index, net profit and ?stock return. Due to the positive effects of the business cycles indicators on the stock market indices of food industry companies, it is recommended that policy-makers consider strategies to increase GDP and agriculture value-added.
Acknowledgement : I am attaching herewith a manuscript entitled ?The Impacts of Business Cycle Indicators on Stock Market Indices of Food Industry for the 30th international conference of agricultural economics. With the submission of this manuscript, I would like to undertake that the above-mentioned manuscript has not been published elsewhere, accepted for publication elsewhere or under editorial review for publication elsewhere. Please don't hesitate to contact me for further information. Thanks in advance for your time and consideration. Sincerely Hosein Mohammadi, Associate Professor of Agricultural Economics Ferdowsi University of Mashhad, Ira
