TY  - JOUR
TI  - OIL PRICES AND BANKING STOCKS NEXUS: EVIDENCE FROM AN OILDEPENDENT COUNTRY
AB  - We investigate the impact of oil prices on Borsa Istanbul banking index during 2004-2016 and for the periods beforeand after the 2008 crisis. We especially examine banking stock performances since any significant factor affectingfinancial institutions, would probably have an impact on the whole economy due to the contagion. Furthermore,banking index is the leader index in Borsa Istanbul with 36% of market capitalization of Borsa Istanbul and financialinstitutions in Turkey experienced a s ignificant mergers and acquisitions flow in the last decade. Hence, theinterrelationship between foreign and domestic markets has intensified, significantly. Our sample period is between2004 and 2016 and we employ Granger-causality to capture the predictive power of oil prices on stock market andgeneralized impulse responses to analyze the sign and duration of the relationship. Results reveal that financial andcommodity markets are highly integrated and oil is a significant commodity for Turkish market. Furthermore,banking equities seem to benefit from oil price increases between 2008-2016 and therefore one should includebanking stocks into their portfolios, when commodity prices are surging.
AU  - Sarı, Ramazan
AU  - ORDU AKKAYA, BEYZA MİNA
PY  - 2019
JO  - Dumlupınar Üniversitesi Sosyal Bilimler Dergisi
VL  - 0
IS  - 59
SN  - 2587-005X
SP  - 34
EP  - 47
DB  - TRDizin
UR  - http://search/yayin/detay/313659
ER  -