ALİ SAİT ALBAYRAK
(Recep Tayyip Erdoğan Üniversitesi, İktisadi ve İdari Bilimler Fakültesi, Rize, Türkiye)
Nurettin ÖZTÜRK
(Ondokuz Mayıs Üniversitesi, İktisadi ve İdari Bilimler Fakültesi, Samsun, Türkiye)
Şevket TÜYLÜOĞLU
(Abant İzzet Baysal Üniversitesi, İktisadi ve İdari Bilimler Fakültesi, Bolu, Türkiye)
Yıl: 2012Cilt: 8Sayı: 2ISSN: 1306-2174 / 1306-3553Sayfa Aralığı: 1 - 22Türkçe

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MAKROEKONOMİK DEĞİŞKENLER İLE SERMAYE HAREKETLERİNİN İMKB-100 ENDEKSİ ÜZERİNDEKİ ETKİSİNİN İNCELENMESİ
Hisse senedi fiyatları, sermaye hareketleri ve makroekonomik göstergeler gibi çok sayıda değişken tarafından etkilenmektedir. Sermaye hareketleri özellikle istikrarlı ve düzenli olduklarında hisse senedi fiyatları üzerinde olumlu etkileri söz konusudur. Teorik olarak doğrudan yabancı yatırımlar ve portföy yatırımları gibi uluslararası sermaye hareketlerinin ülke ekonomilerinin performansı üzerine olumlu etkileri vardır. Bu çalışma 07.01.2005 ile 03.02.2012 dönemine ait 370 haftalık zaman serileri kullanılarak faiz oranları (MVFO), ABD dolar kuru (DLAK) ve altın fiyatları (ALTN) gibi değişkenler ile yabancı portföy yatırımları (PRTY) ve doğrudan yabancı yatırımlar (DYYT) gibi sermaye hareketlerinin İMKB-100 endeksi üzerine olan etkilerini incele-mektedir. Prais- Winston Regresyon analizi ampirik sonuçları ABD dolar kuru (DLAK), altın fiyatları (ALTN) ile yabacı portföy yatırımlarının (PRTY) İMKB-100 endeksi üzerinde açık ve önemli bir etkisinin olduğunu göstermektedir.
Sosyal > Tarih
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