Makroekonomik Faktörlerin Hisse Senedi Getirilerine Etkisi: Türkiye ve Gelişmekte Olan Piyasalar Üzerine Bir İnceleme

Güven Sayılgan · Cemil Süslü

33 citations0/0 files storedBDDK bankacılık ve finansal piyasalar dergisi

No readable copy stored yet — this record is metadata only.

No open-access location is known for this record yet.

Literature note Cite in a project Citation map

Financial Markets and Investment Strategies Monetary Policy and Economic Impact Market Dynamics and Volatility

Abstract

OZET Calismada, gelismekte olan ulkelerde hisse senedi getirileri ile makroekonomik degiskenler arasindaki arasindaki iliskinin incelenmesi amaclanmistir. Calismada kullanilan degiskenler, enflasyon, faiz orani, doviz kuru, reel ekonomik faaliyet, para arzi, petrol fiyatlari ve standard and poor 500 hisse senedi endeksi getirisidir. Hisse senedi getirileri ile soz konusu makroekonomik degiskenler arasindaki iliski Panel Veri Analizi ile incelenmistir. Panel Veri Analizinde 1999 – 2006 donemi ucer aylik verileri kullanilarak yapilmistir. Calisma sonucunda, calismaya dahil edilen gelismekte olan ulkelerde hisse senedi getirileri ile faiz orani, reel ekonomik faaliyetnin gostergesi GDP, para arzindaki yuzde degisimin gostergesi M1 ve petrol fiyatlarindaki yuzde degisimin gostergesi olan PET arasinda istatiksel olarak anlamli bir iliski saptanmamistir. Buna karsin, hisse senedi getirileri ile doviz kuru, enflasyon orani ve standard and poor 500 endeksi getirileri arasinda anlamli bir iliskinin varligi saptanmistir. Anahtar Sozcukler: Hisse Senedi Getirileri, Makroekonomik Faktorler, Gelismekte Olan Piyasalar, Panel Veri ABSTRACT The purpose of this study is to investigate the relationship between stock returns and the macroeconomic variables of inflation rate, M1 money supply, foreign exchange rate, real economic activity, interest rate, oil price and standard and poors 500 return in emerging markets. The relationship between stock returns and the above mentioned macroeconomic variables are tested using Panel Data Analysis. Panel Data Analysis from 1999 to 2006 period using quarterly data were made. As a result of the Panel Data Analysis, the relationship between stock returns and the macroeconomic variables of interest rate, real economic activity, M1 money supply and oil price was found insignificant. The relation between stock returns and foriegn exchange, inflation and standard and poors 500 was found significant.

Paper brief

Loading…

Cite this work

Citation unavailable for this work.

BibTeX RIS CSL-JSON

No public copy is stored for this record, so only the metadata is cited.

Citations in this library

Citation map →

Stored only when both papers are in the corpus — 33 citations exist upstream.

References

2021Econometric Analysis of Panel Data 1986Economic Forces and the Stock Market 1977Asset returns and inflation 1981Stock Returns, Real Activity, Inflation, and Money 1997Emerging equity market volatility 1983The Fiscal and Monetary Linkage Between Stock Returns and Inflation 1976COMMON STOCKS AS A HEDGE AGAINST INFLATION 1995DYNAMIC RELATIONS BETWEEN MACROECONOMIC VARIABLES AND THE JAPANESE STOCK MARKET: AN APPLICATION OF A VECTOR ERROR CORRECTION MODEL

Cited by

2019Macroeconomic Determinants of Stock Market Fluctuations: The Case of BIST-100 2018Economic Effects in Islamic Stock Development of the European Countries 2018Factors that Determine the Capital Structure: An Empirical Study on Low-cost Airlines 2020Döviz Kuru, Faiz Oranı ve Enflasyon İle BİST Tüm ve BİST Sektörel Endeksler Arasındaki İlişkinin Ampirik Analizi

Explore the map →

Papers that cite the same references — the relational fallback while embeddings are still backfilling.

Imported from OpenAlex (CC0) — nothing here is generated.