BURCU BERKE
(Niğde Üniversitesi, İktisadi ve İdari Bilimler Fakültesi, İktisat Bölümü, Niğde, Türkiye)
Yıl: 2012Cilt: 0Sayı: 163ISSN: 1300-3623 / 2645-8780Sayfa Aralığı: 243 - 257Türkçe

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Döviz kuru ve İMKB100 endeksi ilişkisi: Yeni bir test
Döviz kurları ve hisse senedi fiyatları arasındaki ilişkiye yönelik “geleneksel” ve “portföy dengesi” yaklaşımları olmak üzere iki yaklaşım bulunmaktadır. Geleneksel yaklaşıma göre döviz kurunun değişmesi firmaların kârlılığını etkileyerek hisse senedi fiyatlarında bir değişmeye neden olmakta ve bu iki değişken arasında pozitif bir ilişki bulunmaktadır. Portföy dengesi yaklaşımında ise hisse senedi fiyatlarının artması döviz kurunda azaltıcı bir etkiye ve negatif bir ilişkiye neden olmaktadır. Bu yaklaşımların geçerliliğinin sorgulandığı bu çalışmada 01/04/2002-31/07/2012 dönemi için Türkiye’de TL/USD döviz kuru ile İMKB100 fiyat endeksi arasındaki ilişki FMOLS, CCR ve DOLS yöntemleri kullanılarak araştırılmaktadır. Üç testin sonuçları iki değişken arasında “negatif” bir ilişkinin var olduğunu ve bu nedenle portföy dengesi yaklaşımının desteklendiğini göstermektedir.
Sosyal > İktisat
Sosyal > İşletme
DergiAraştırma MakalesiErişime Açık
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