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- Title
BORSA İSTANBUL SEKTÖR ENDEKSLERİ İLE DÖVİZ KURLARI ARASINDAKİ İLİŞKİLERİN İNCELENMESİ: ARDL MODELİ.
- Authors
EYÜBOĞLU, Sinem; EYÜBOĞLU, Kemal
- Abstract
Exchange rates is one of the important factor which effects the process of applying and decision making of all firms especially importer and exporter firms. Additionally, firms' exchange rate sensibility is shaping according to operated sectors. By this way it has great importance of firms' sector for analyzing exchange rate effect. In this study it is purposed to analyze the relationship between the Istanbul Stock Exhange sector indexes and exchange rates for the period of 03/01/2011-26/05/2016. For this purpose, it is used BIST 100 Index and stock indexes of 23 sectors with Dollar/TL and Euro/TL exchange rates daily data. Long term relations between the series are examined with ARDL model. The results showed that there is long term relation between only BIST Textile Leather with Euro/TL and BIST Textile Leather, Wholesale and Retail Trade, Technology indexes with Dollar/TL exchange rate of 24 indexes. Besides it is determined that there is a negative relation between exchange rates and 3 indexes in the short term and positive relation in the long term. Also Toda-Yamamoto causality test results indicated that traditional approach is more valid in Borsa Istanbul indexes.
- Publication
Omer Halisdemir Universitesi Iktisadi ve Idari Bilimler Fakültesi Dergisi, 2018, Vol 11, Issue 1, p8
- ISSN
2564-6931
- Publication type
Article
- DOI
10.25287/ohuiibf.332352