Purpose:The stock market performance is the function of the current and future level of economic activity. In view of this, the study examines the short-run and long-run association between Asian emerging stock markets and their economic fundamentals. Design/Methodology/Approach: The sample size of the study consists of nine Asian emerging stock markets namely

Dividend smoothing is the strategy used by the managers to target net earnings in the payout ratio as shareholders prefer stable dividend over volatile payments (Lintner 1956