TY  - JOUR
TI  - The relationship between energy prices and stock prices: A MARS analysis approach
AB  - Energy use can determine company strategies and investor decisions at the micro level while also determining national economic policies at the macro level. The importance of energy to the world economy has led many studies in the national and international literature to investigate the relationship between energy resources and stock prices. However, these studies have reached contradictory findings regarding the existence of such a relationship. In light of the contradictions in the national and international literature, this study re-examines the relationship between energy prices and stock prices using the multivariate adaptive regression splines (MARS) method over the eight Borsa Istanbul (BIST) manufacturing industry indices (XUSIN, XMANA, XMESY, XTAST, XTEKS, XGIDA, XKAGT, and XKMYA) in the period January 2010 – December 2019. The results show that oil prices have a significant effect on all index prices; however, natural gas and electricity prices have relatively different effect levels for each index.
AU  - ÖZDEMİR, Meltem
AU  - Bank, Semra
DO  - 10.30855/gjeb.2023.9.1.007
PY  - 2023
JO  - Gazi İktisat ve İşletme Dergisi
VL  - 9
IS  - 1
SN  - 2149-4924
SP  - 97
EP  - 112
DB  - TRDizin
UR  - http://search/yayin/detay/1159437
ER  -