TY  - JOUR
TI  - THE IMPACT OF EXCHANGE RATES ON STOCK PRICES FOR TURKEY: AN ASYMMETRIC NON-LINEAR COINTEGRATION ANALYSIS
AB  - This study investigates the impact of exchange rates on stock indices for Turkey and examines whether theseimpacts are asymmetric. For this purpose, the non-linear autoregressive distributed lag (NARDL) modelis used as an asymmetric cointegration method. In the study covering the period 2005-2020, BIST-100,BIST-100 All Shares and four stock sector indices are included in the models as stock indices representing.Thus, the response of the stock indices of the firms in different sectors to the movements in exchange ratesis analyzed. The findings indicate that the impacts of exchange rate movements on the BIST-100 All Sharesindex and the service, industry, and technology sector indices in the short-term are asymmetrical, and theimpacts on the technology sector index in the long-term are asymmetrical.
AU  - ÜRKMEZ, EMRE
AU  - BÖLÜKBAŞI, Ömer Faruk
DO  - 10.14780/muiibd.960267
PY  - 2021
JO  - Marmara Üniversitesi İktisadi ve İdari Bilimler Dergisi
VL  - 43
IS  - 1
SN  - 2149-1844
SP  - 42
EP  - 56
DB  - TRDizin
UR  - http://search/yayin/detay/460698
ER  -