Evaluating the Asymmetric Effects of Production, Interest Rate and Exchange Rate on the Turkish Stock Prices
Yıl: 2019 Cilt: 19 Sayı: 2 Sayfa Aralığı: 293 - 300 Metin Dili: İngilizce DOI: 10.21121/eab.556344 İndeks Tarihi: 26-12-2020
Evaluating the Asymmetric Effects of Production, Interest Rate and Exchange Rate on the Turkish Stock Prices
Öz: The relationship between stock prices and macrovariables has been studied exhaustively in theliterature. However, most of the studies assumethat this relationship is linear. In this paper, weevaluate the asymmetric effects of production, theinterest rate and the exchange rate on Turkish stockprices using non-linear autoregressive distributedlags models. We find that there are both long-runand short-run asymmetric relationships betweenmacro variables and Turkish stock prices. Our resultsindicate that non-linear models can yield moreplausible results compare to linear models.
Anahtar Kelime: Üretimin, Faiz Oranın ve Döviz Kurunun Türk Hisse Senedi Fiyatlarına Asimetrik Etkilerinin İncelenmesi
Öz: Hisse senedi fiyatları ve makro ekonomik değişkenler arasındaki ilişki yazında etraflıca incelenmiştir. Bununla birlikte çoğu çalışma bu ilişkinin doğrusal olduğunu varsaymıştır. Bu çalışmada üretimin, faiz oranın ve döviz kurunun Türk hisse senedi fiyatlarına asimetrik etkilerini doğrusal olmayan gecikmesi dağıtılmış otoregressif modeller kullanarak değerlendirilmiştir. Çalışmada makro ekonomik değişkenler ile Türk hisse senedi fiyatları arasında hem kısa dönemli hem de uzun dönemli ilişki tespit edilmiştir. Sonuçlar doğrusal olmayan modellerin doğrusal modellere kıyasla daha anlamlı sonuçlar verdiğini göstermiştir.
Anahtar Kelime: Belge Türü: Makale Makale Türü: Araştırma Makalesi Erişim Türü: Erişime Açık
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| APA | Kaya H, Soybilgen B (2019). Evaluating the Asymmetric Effects of Production, Interest Rate and Exchange Rate on the Turkish Stock Prices. , 293 - 300. 10.21121/eab.556344 |
| Chicago | Kaya Hüseyin,Soybilgen Baris Evaluating the Asymmetric Effects of Production, Interest Rate and Exchange Rate on the Turkish Stock Prices. (2019): 293 - 300. 10.21121/eab.556344 |
| MLA | Kaya Hüseyin,Soybilgen Baris Evaluating the Asymmetric Effects of Production, Interest Rate and Exchange Rate on the Turkish Stock Prices. , 2019, ss.293 - 300. 10.21121/eab.556344 |
| AMA | Kaya H,Soybilgen B Evaluating the Asymmetric Effects of Production, Interest Rate and Exchange Rate on the Turkish Stock Prices. . 2019; 293 - 300. 10.21121/eab.556344 |
| Vancouver | Kaya H,Soybilgen B Evaluating the Asymmetric Effects of Production, Interest Rate and Exchange Rate on the Turkish Stock Prices. . 2019; 293 - 300. 10.21121/eab.556344 |
| IEEE | Kaya H,Soybilgen B "Evaluating the Asymmetric Effects of Production, Interest Rate and Exchange Rate on the Turkish Stock Prices." , ss.293 - 300, 2019. 10.21121/eab.556344 |
| ISNAD | Kaya, Hüseyin - Soybilgen, Baris. "Evaluating the Asymmetric Effects of Production, Interest Rate and Exchange Rate on the Turkish Stock Prices". (2019), 293-300. https://doi.org/10.21121/eab.556344 |
| APA | Kaya H, Soybilgen B (2019). Evaluating the Asymmetric Effects of Production, Interest Rate and Exchange Rate on the Turkish Stock Prices. Ege Akademik Bakış, 19(2), 293 - 300. 10.21121/eab.556344 |
| Chicago | Kaya Hüseyin,Soybilgen Baris Evaluating the Asymmetric Effects of Production, Interest Rate and Exchange Rate on the Turkish Stock Prices. Ege Akademik Bakış 19, no.2 (2019): 293 - 300. 10.21121/eab.556344 |
| MLA | Kaya Hüseyin,Soybilgen Baris Evaluating the Asymmetric Effects of Production, Interest Rate and Exchange Rate on the Turkish Stock Prices. Ege Akademik Bakış, vol.19, no.2, 2019, ss.293 - 300. 10.21121/eab.556344 |
| AMA | Kaya H,Soybilgen B Evaluating the Asymmetric Effects of Production, Interest Rate and Exchange Rate on the Turkish Stock Prices. Ege Akademik Bakış. 2019; 19(2): 293 - 300. 10.21121/eab.556344 |
| Vancouver | Kaya H,Soybilgen B Evaluating the Asymmetric Effects of Production, Interest Rate and Exchange Rate on the Turkish Stock Prices. Ege Akademik Bakış. 2019; 19(2): 293 - 300. 10.21121/eab.556344 |
| IEEE | Kaya H,Soybilgen B "Evaluating the Asymmetric Effects of Production, Interest Rate and Exchange Rate on the Turkish Stock Prices." Ege Akademik Bakış, 19, ss.293 - 300, 2019. 10.21121/eab.556344 |
| ISNAD | Kaya, Hüseyin - Soybilgen, Baris. "Evaluating the Asymmetric Effects of Production, Interest Rate and Exchange Rate on the Turkish Stock Prices". Ege Akademik Bakış 19/2 (2019), 293-300. https://doi.org/10.21121/eab.556344 |
