Abstract

The aim of the study was to examine the relationship between liquidity growth as one of the macroeconomic variables and the return of Tehran Stock Exchange index. This research method is descriptive-correlational. The study period included the years 1990 to the end of 2011. The population of the study was the stock index in the whole years of activity. Data for each of the variables was extracted from the site of the Central Bank, economic indicators, and stock indicators on a yearly basis for the period of the study and then was analyzed using SPSS by Pearson correlation test. The results of the study showed that a significant relationship did not exist between the liquidity growth and the index return of Tehran Stock Exchange.

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