Macroeconomic Variables And Stock Market Evidence From Turkey

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Macroeconomic Variables and Stock Market: Evidence from Turkey

Author : Ahmad Abu Alrub
Publisher : LAP Lambert Academic Publishing
ISBN 13 : 9783659641701
Total Pages : 120 pages
Book Rating : 4.6/5 (417 download)

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Book Synopsis Macroeconomic Variables and Stock Market: Evidence from Turkey by : Ahmad Abu Alrub

Download or read book Macroeconomic Variables and Stock Market: Evidence from Turkey written by Ahmad Abu Alrub and published by LAP Lambert Academic Publishing. This book was released on 2014-11-24 with total page 120 pages. Available in PDF, EPUB and Kindle. Book excerpt: The aim of this study by applying time series analysis, is to provide an empirical analysis and elucidate the relationship between the whole Turkish stock price index and selected macroeconomic variables namely: index of industrial production (IIP) as a proxy of economic activity, Short-term interest rate (SINT), money supply (M2) and exchange rate (EXC). For a wiser time span from Jan 2002 to Dec 2013; which witnessed a new monetary policy during the restructuring period (2002-2007), and the world crisis.

Real Macro Economic Variables and Stock Prices

Author : Erman Erbaykal
Publisher :
ISBN 13 :
Total Pages : 9 pages
Book Rating : 4.:/5 (129 download)

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Book Synopsis Real Macro Economic Variables and Stock Prices by : Erman Erbaykal

Download or read book Real Macro Economic Variables and Stock Prices written by Erman Erbaykal and published by . This book was released on 2008 with total page 9 pages. Available in PDF, EPUB and Kindle. Book excerpt: The aim of this study is to investigate the relationship between reel macroeconomic variables and stock prices in Turkey under quot;Proxy hypothesisquot; developed by Fama (1981). According to Proxy hypothesis of Fama, real macroeconomic variables such as consumption expenditures, economic growth, employment, fixed investment affect stock prices via inflation. In the study, consumption expenditures, industrial production index, employment level and fixed investments are used as indicators of real economic activity and consumption price index as indicator of inflation. The long-run relationship between the variables is tested by Bound testing approach developed by Paseran et al (2001). Our findings support the validity of the Proxy Hypothesis of Fama (1981) for Turkey.

Economic Forces and Stock Markets Under Arbitrage Price Theory

Author : Muhammad Hasan Yilmiz
Publisher :
ISBN 13 :
Total Pages : 14 pages
Book Rating : 4.:/5 (13 download)

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Book Synopsis Economic Forces and Stock Markets Under Arbitrage Price Theory by : Muhammad Hasan Yilmiz

Download or read book Economic Forces and Stock Markets Under Arbitrage Price Theory written by Muhammad Hasan Yilmiz and published by . This book was released on 2016 with total page 14 pages. Available in PDF, EPUB and Kindle. Book excerpt: Our aim is to identify common risk factors among some pre-determined macroeconomic variables in a way that whether they are presented significant risk premiums in pricing equation that was given above. First we identified number of potential factors explaining returns in Turkish markets as suggested by Ross (1980) when presented APT. We found two factors were significantly explaining returns and then to find out which factor they are. we have used methodology of Chen, Roll, Ross (1986) where we have ranked portfolios according to size (market capitalization) and portfolio returns are calculated as log-returns. Our main results have showed that stock returns are exposed to systematic economic news that they are priced in accordance with their exposures. Those variables in our study are MP, DEI, BIST 100, BIST 30 and CG that must be given importance for considering their impact on stock returns.

Applied Econometric Analysis: Emerging Research and Opportunities

Author : Sloboda, Brian W.
Publisher : IGI Global
ISBN 13 : 179981095X
Total Pages : 264 pages
Book Rating : 4.7/5 (998 download)

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Book Synopsis Applied Econometric Analysis: Emerging Research and Opportunities by : Sloboda, Brian W.

Download or read book Applied Econometric Analysis: Emerging Research and Opportunities written by Sloboda, Brian W. and published by IGI Global. This book was released on 2020-06-01 with total page 264 pages. Available in PDF, EPUB and Kindle. Book excerpt: Professionals are constantly searching for competitive solutions to help determine current and future economic tendencies. Econometrics uses statistical methods and real-world data to predict and establish specific trends within business and finance. This analytical method sustains limitless potential, but the necessary research for professionals to understand and implement this approach is lacking. Applied Econometric Analysis: Emerging Research and Opportunities explores the theoretical and practical aspects of detailed econometric theories and applications within economics, political science, public policy, business, and finance. Featuring coverage on a broad range of topics such as cointegration, machine learning, and time series analysis, this book is ideally designed for economists, policymakers, financial analysts, marketers, researchers, academicians, and graduate students seeking research on the various techniques of econometric concepts.

Energy Consumption and Stock Market Relationship

Author : Ersan Ersoy
Publisher :
ISBN 13 :
Total Pages : 7 pages
Book Rating : 4.:/5 (13 download)

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Book Synopsis Energy Consumption and Stock Market Relationship by : Ersan Ersoy

Download or read book Energy Consumption and Stock Market Relationship written by Ersan Ersoy and published by . This book was released on 2016 with total page 7 pages. Available in PDF, EPUB and Kindle. Book excerpt: A large number of studies on the relationship between financial indicators and macroeconomic variables such as economic growth and energy as a result of the increase in the energy prices and their volatility in recent years have emerged. The aim of this study, apart from the other studies in the area, is to investigate the interaction between energy consumption and stock exchange index in Turkey. Ceteris paribus, economic growth with the increase of energy consumption, the growth of the economy impact will also affect the stock exchange which is accepted as the barometer of the economy (vice versa). The interaction between the BIST National 100 index, BIST National Industrial Index and energy consumption is investigated by Johansen Cointegration Test, Granger Causality Test tests based on VAR for the period of 1995-2011. Unidirectional causality relationship is detected from BIST 100 Index and BIST Industrial Index towards energy consumption.

An Analysis of the Macroeconomic Factors that Determine Stock Returns in Turkey

Author : Mustafa Özçam
Publisher : Sermaye Piyasas Kurulu
ISBN 13 : 9789757539728
Total Pages : 193 pages
Book Rating : 4.5/5 (397 download)

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Book Synopsis An Analysis of the Macroeconomic Factors that Determine Stock Returns in Turkey by : Mustafa Özçam

Download or read book An Analysis of the Macroeconomic Factors that Determine Stock Returns in Turkey written by Mustafa Özçam and published by Sermaye Piyasas Kurulu. This book was released on 1997-01-01 with total page 193 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Essays on the Turkish Stock Market

Author : Rafi Karagöl
Publisher :
ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.:/5 (111 download)

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Book Synopsis Essays on the Turkish Stock Market by : Rafi Karagöl

Download or read book Essays on the Turkish Stock Market written by Rafi Karagöl and published by . This book was released on 2016 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This PhD dissertation research primarily aims to empirically investigate three major, yet distinct and stand alone, financial topics using data from Turkey. These are (i) analysis of effects of financial statements on stock returns and their conditional volatility using an event study methodology; (ii) analysis of relationship between credit rating and firm-specific characteristics in a cross-section framework; and (iii) analysis of credit ratings and stock market performance using both firm-specific characteristics and selected macroeconomic variables in a panel data framework. My contribution remains as a pioneering effort to analyse these issues at least in the context of Turkey. The first empirical work, based on event study methodology employing a modified asymmetric time-varying volatility model, concludes that there are significant return and volatility effects stemming from announcement of audited semi-annual financial statements. This conclusion is also valid for the pre-announcements and postannouncement dates. It should be noted that event study methodology is a test of the informational efficiency subject to the joint hypothesis problem. My results can be considered as evidence against the informational efficiency of the Turkish stock market. The second area of research is on the relationships between corporate credit ratings and firm-specific characteristics. This investigation is based on a cross-sectional regression analysis. It concluded that size, sector, systemic risk and volatility are important factors on credit ratings and stock returns. The third empirical work employs panel data methodology to analyse the relationship between corporate credit rating and stock market performance indicators. It is found that both firm-specific characteristics and macroeconomic variables have significant effects on stock returns.

Handbook of Research on Decision-Making Techniques in Financial Marketing

Author : Dinçer, Hasan
Publisher : IGI Global
ISBN 13 : 1799825604
Total Pages : 646 pages
Book Rating : 4.7/5 (998 download)

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Book Synopsis Handbook of Research on Decision-Making Techniques in Financial Marketing by : Dinçer, Hasan

Download or read book Handbook of Research on Decision-Making Techniques in Financial Marketing written by Dinçer, Hasan and published by IGI Global. This book was released on 2019-12-27 with total page 646 pages. Available in PDF, EPUB and Kindle. Book excerpt: Consumer needs and demands are constantly changing. Because of this, marketing science and finance have their own concepts and theoretical backgrounds for evaluating consumer-related challenges. However, examining the function of finance with a marketing discipline can help to better understand internal management processes and compete in today’s market. The Handbook of Research on Decision-Making Techniques in Financial Marketing is a collection of innovative research that integrates financial and marketing functions to make better sense of the workplace environment and business-related challenges. Different financial challenges are taken into consideration while many of them are based on marketing theories such as agency theory, product life cycle, and optimal consumer experience. While highlighting topics including behavioral financing, corporate ethics, and Islamic banking, this book is ideally designed for financiers, marketers, financial analysts, marketing strategists, researchers, policymakers, government officials, academicians, students, and industry professionals.

The Effect of Macroeconomic Factors on Asset Returns

Author : Erdinç Altay
Publisher :
ISBN 13 : 9783860106921
Total Pages : 36 pages
Book Rating : 4.1/5 (69 download)

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Book Synopsis The Effect of Macroeconomic Factors on Asset Returns by : Erdinç Altay

Download or read book The Effect of Macroeconomic Factors on Asset Returns written by Erdinç Altay and published by . This book was released on 2003 with total page 36 pages. Available in PDF, EPUB and Kindle. Book excerpt:

On the Causality Between Stock Prices and Exchange Rates

Author : Yaşar Köse
Publisher :
ISBN 13 :
Total Pages : 9 pages
Book Rating : 4.:/5 (13 download)

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Book Synopsis On the Causality Between Stock Prices and Exchange Rates by : Yaşar Köse

Download or read book On the Causality Between Stock Prices and Exchange Rates written by Yaşar Köse and published by . This book was released on 2016 with total page 9 pages. Available in PDF, EPUB and Kindle. Book excerpt: The aim of this paper is to investigate the existence and direction of relationship between stock prices and exchange rates for Turkish financial market. Granger (1969) causality testing methodology was employed to reveal the nature of relationship between the two variables. This work contributes to the existing body of literature in the way that in Turkish financial market, there is a uni-directional causality running from stock prices to exchange rates using the daily observations for the sample period, which runs from February 23, 2001 to November 4, 2009. Also, the model used in this study extends the scope of exchange rate variables including a total of five currencies í US dollar, Euro, Japanese Yen, Pound Sterling, Swiss Franc and two baskets of currencies of Undersecretariat of Foreign Trade of Turkey. This evidence has implications for the policy makers and economic actors to perceive the movements in stock prices as a dynamic determinant, which may affect the success of their exchange rate policies.

Perspectives, Trends, and Applications in Corporate Finance and Accounting

Author : Zopounidis, Constantin
Publisher : IGI Global
ISBN 13 : 1522561153
Total Pages : 372 pages
Book Rating : 4.5/5 (225 download)

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Book Synopsis Perspectives, Trends, and Applications in Corporate Finance and Accounting by : Zopounidis, Constantin

Download or read book Perspectives, Trends, and Applications in Corporate Finance and Accounting written by Zopounidis, Constantin and published by IGI Global. This book was released on 2018-06-29 with total page 372 pages. Available in PDF, EPUB and Kindle. Book excerpt: Financial analyses, investments, and accounting practices are continually developing and improving areas that have seen significant advancements in the past century. However, the recent bankruptcies by major banks, the debt crisis in the European Union, and the economic turmoil in several countries have caused severe downfalls in financial markets and financial systems worldwide. As the world works to recover, it is important to learn from these financial crises to ensure a more secure and sustainable outlook for organizations and the global future. Perspectives, Trends, and Applications in Corporate Finance and Accounting is a crucial resource providing coverage on the stock market, public deficits, investment firms’ performances, banking systems, and global economic trends. This publication highlights areas including, but not limited to, the relationship between the stock market and macroeconomics, earnings management, and pricing models while also discussing previous financial crises. This book is a vital reference work for accountants, financial experts, investment firms, corporate leaders, researchers, and policy makers.

International Macroeconomics in the Wake of the Global Financial Crisis

Author : Laurent Ferrara
Publisher : Springer
ISBN 13 : 3319790757
Total Pages : 300 pages
Book Rating : 4.3/5 (197 download)

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Book Synopsis International Macroeconomics in the Wake of the Global Financial Crisis by : Laurent Ferrara

Download or read book International Macroeconomics in the Wake of the Global Financial Crisis written by Laurent Ferrara and published by Springer. This book was released on 2018-06-13 with total page 300 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book collects selected articles addressing several currently debated issues in the field of international macroeconomics. They focus on the role of the central banks in the debate on how to come to terms with the long-term decline in productivity growth, insufficient aggregate demand, high economic uncertainty and growing inequalities following the global financial crisis. Central banks are of considerable importance in this debate since understanding the sluggishness of the recovery process as well as its implications for the natural interest rate are key to assessing output gaps and the monetary policy stance. The authors argue that a more dynamic domestic and external aggregate demand helps to raise the inflation rate, easing the constraint deriving from the zero lower bound and allowing monetary policy to depart from its current ultra-accommodative position. Beyond macroeconomic factors, the book also discusses a supportive financial environment as a precondition for the rebound of global economic activity, stressing that understanding capital flows is a prerequisite for economic-policy decisions.

Inflation and Disinflation in Turkey

Author : Faruk Selcuk
Publisher : Routledge
ISBN 13 : 1351739271
Total Pages : 242 pages
Book Rating : 4.3/5 (517 download)

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Book Synopsis Inflation and Disinflation in Turkey by : Faruk Selcuk

Download or read book Inflation and Disinflation in Turkey written by Faruk Selcuk and published by Routledge. This book was released on 2018-04-27 with total page 242 pages. Available in PDF, EPUB and Kindle. Book excerpt: This title was first published in 2002. Since the 1990s Turkey has experienced a number of disasters, both physical and economic. The result has been a decrease in economic performance compared to other European states. This study addresses the country's ongoing economic struggles.

The Relationship Between Stock Market and Macroeconomic Variables

Author : Shaoying Chang
Publisher :
ISBN 13 :
Total Pages : 228 pages
Book Rating : 4.:/5 (262 download)

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Book Synopsis The Relationship Between Stock Market and Macroeconomic Variables by : Shaoying Chang

Download or read book The Relationship Between Stock Market and Macroeconomic Variables written by Shaoying Chang and published by . This book was released on 2008 with total page 228 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Macroeconomic Determinants of Stock Market Behavior in Turkey

Author : Dilek Belevi
Publisher :
ISBN 13 :
Total Pages : 63 pages
Book Rating : 4.:/5 (499 download)

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Book Synopsis Macroeconomic Determinants of Stock Market Behavior in Turkey by : Dilek Belevi

Download or read book Macroeconomic Determinants of Stock Market Behavior in Turkey written by Dilek Belevi and published by . This book was released on 1996 with total page 63 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Effect of Macroeconomic Variables on Stock Market Returns in the UK and China

Author : Li Tu
Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (643 download)

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Book Synopsis Effect of Macroeconomic Variables on Stock Market Returns in the UK and China by : Li Tu

Download or read book Effect of Macroeconomic Variables on Stock Market Returns in the UK and China written by Li Tu and published by . This book was released on 2004 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:

Atlas of Sustainable Development Goals 2017

Author :
Publisher :
ISBN 13 : 9781464810800
Total Pages : 115 pages
Book Rating : 4.8/5 (18 download)

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Book Synopsis Atlas of Sustainable Development Goals 2017 by :

Download or read book Atlas of Sustainable Development Goals 2017 written by and published by . This book was released on 2017 with total page 115 pages. Available in PDF, EPUB and Kindle. Book excerpt: The World Bank's compilation of statistics from over 200 economies is built around World Development Indicators (WDI) - selected indicators have been identified and visualized to analyze trends and challenges, and to catalyze discussion on measurement issues. The Atlas of Sustainable Development Goals 2017 uses maps, charts and analysis to illustrate, trends, challenges and measurement issues related to each of the 17 Sustainable Development Goals (SDGs). Given the breadth and scope of the SDGs, the editors have been selective, emphasizing issues considered important by experts in the World Bank's Global Practices and Cross Cutting Solution Areas. Nevertheless, The Atlas aims to reflect the breadth of the Goals themselves and presents national and regional trends and snapshots of progress towards the UN's seventeen Sustainable Development Goals: poverty, hunger, health, education, gender, water, energy, jobs, infrastructure, inequalities, cities, consumption, climate, oceans, the environment, peace, institutions, and partnerships. Between 1990 and 2013, nearly one billion people were raised out of extreme poverty. Its elimination is now a realistic prospect, although this will require both sustained growth and reduced inequality. Even then, gender inequalities continue to hold back human potential