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- Title
ULUSLARARASI PORTFÖY ÇEŞİTLENDİRMESİ AÇISINDAN GELİŞMEKTE OLAN ÜLKE BORSALARI ARASINDAKİ EŞHAREKETLİLİK: BREZİLYA-TÜRKİYE ÜZERİNE BİR UYGULAMA.
- Authors
ÇELİK, İsmail; KAYA, Murat; TUNÇ, Hakan
- Abstract
The aim of this paper is to investigate the dynamic short and long-term relationships between Turkey and Brazil stock exchange which have similar economic characters. According to the test results of Johansen-Juselius which was provided with Daily data of May 2010- December 2012 period, it has been proven that there is no long-term relationship between selected stock indices. According to the test results of Granger causality based on VAR model, it has been proven that there is bidirectional causality between XU100 and Ibovespa stock indices and unidirectional causality from IBrx-50 and INDX to XU050 and XUSIN. At the end result of this paper, it has been proven that ISE can be used in a international portfolio diversification.
- Subjects
TURKEY; BRAZIL; STOCK exchanges; ECONOMICS; STOCKS (Finance); PORTFOLIO management (Investments)
- Publication
Suleyman Demirel University Journal of Faculty of Economics & Administrative Sciences, 2013, Vol 18, Issue 1, p167
- ISSN
1301-0603
- Publication type
Article