ÜLKE RİSKİNİN HİSSE SENEDİ GETİRİSİNE ETKİSİ: Ampirik Bir Analiz

Hasan Ayaydın; Fahrettin Pala; Abdülkadir Barut

Makale detayları

ÜLKE RİSKİNİN HİSSE SENEDİ GETİRİSİNE ETKİSİ: Ampirik Bir Analiz

Yazarlar:

Hasan Ayaydın | Fahrettin Pala | Abdülkadir Barut

Yayıncı:

Gumushane University

Ana Başlıklar:

Sosyoloji & antropoloji

Dergi:

Global Journal of Economics and Business Studies 2016 Vol.5 Issue 10, pp.66-75

Belge Tipi:

Makale

Yayın Tarihi:

1/2017

Belge Dili:

Türkçe

Document ID (Org No.):

2000467809

Sıklık:

İki Yıllık

eISSN:

2822-5570

Özet:

 


The purpose of this study for Turkey which is one of the developing countries is to examine the effect of a
country’s risk on stock prices. The relationship among the variables such as economic risk, political risk,
financial risk and country risk is calculated by ICRG (International Country Risk Guide) that has been used
frequently in recent studies and that they were proved to be trustworthy on one hand and BIST 100 index return
on the other. It was tested by the Time Series Analysis for the period between 2002: M1-2015: M15 at monthly
level. For this purpose, firstly the stability of the variables was examined. Then the long-term relationship
between the Johansen cointegration analysis and the variables was examined. It is followed by the error
correction model and finally the causality relation between the variables by Granger causality analysis.
According to the results, a negative relationship was determined between stock return and economic, financial,
politic and country risk premiums. As a result of the causality analysis, a bilateral causality relationship
between stock income and economic risk was determined while a unilateral causality relationship was
determined between stock income and financial, political risk, and country risk. The results of this study are
thought to be important for many people and institutions, especially for investors.

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Makale detayları

ÜLKE RİSKİNİN HİSSE SENEDİ GETİRİSİNE ETKİSİ: Ampirik Bir Analiz

Yazarlar: Hasan Ayaydın | Fahrettin Pala | Abdülkadir Barut

Yayıncı: Gumushane University

Ana Başlıklar: Sosyoloji & antropoloji

Dergi: Global Journal of Economics and Business Studies 2016 Vol.5 Issue 10, pp.66-75

Belge Tipi: Makale

Yayın Tarihi: 1/2017

Belge Dili: Türkçe

Document ID (Org No.): 2000467809

Sıklık: İki Yıllık

eISSN: 2822-5570

Sayı

Yazarlar:

Hasan Ayaydın | Fahrettin Pala | Abdülkadir Barut

Yayıncı:

Gumushane University

Ana Başlıklar:

Sosyoloji & antropoloji

Dergi:

Global Journal of Economics and Business Studies 2016 Vol.5 Issue 10, pp.66-75

Belge Tipi:

Makale

Yayın Tarihi:

1/2017

Belge Dili:

Türkçe

Document ID (Org No.):

2000467809

Sıklık:

İki Yıllık

eISSN:

2822-5570