Women feel more pessimistic than men: Empirical evidence from Turkish consumer confidence index
The leading role that is attributable to economic indicators like consumer confidence has been well documented in the literature for many developed nations. Moreover, the relationship between high frequency financial market data has been a common research topic for world economies. However, there is...
| Main Authors: | , |
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| Format: | Article |
| Language: | English |
| Published: |
Vilnius Gediminas Technical University
2010-03-01
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| Series: | Journal of Business Economics and Management |
| Subjects: | |
| Online Access: | https://journals.vgtu.lt/index.php/JBEM/article/view/5831 |
| _version_ | 1818791056831938560 |
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| author | Ashi Küçükaslan Sadullah Çelik |
| author_facet | Ashi Küçükaslan Sadullah Çelik |
| author_sort | Ashi Küçükaslan |
| collection | DOAJ |
| description | The leading role that is attributable to economic indicators like consumer confidence has been well documented in the literature for many developed nations. Moreover, the relationship between high frequency financial market data has been a common research topic for world economies. However, there is hardly any study that attempts to search for the possible functional relationship between consumer confidence and financial market variables. This paper is a simple attempt to link these two brands of literature by focusing on the relationship between financial market variables and consumer confidence index before the global crisis has started. We have two distinctive points. First, we derive separate consumer confidence indices for men and women by employing micro‐level consumer confidence data from an emerging market (Turkish CNBC‐e consumer confidence index) for the period of January 2003 ‐ January 2008. Second, employing this data set, we do not only check for the existence of a relationship between consumer confidence and financial market variables (such as interest rates, exchange rates and stock exchange index) but also focus on the possibility of gender response. We find evidence of gender response difference as throughout the period women are more pessimistic than men‐due probably to lower levels of wealth‐and respond less to changes in exchange rates than men‐due probably to lower purchasing power.
Santrauka
Ekonominiu rodikliu kaip pirkejo pasitikejimo vaidmens svarba yra išsamiai pagrista daugelio išsivys‐čiusiu šaliu literatūroje. Be to, ryšys tarp aukšto finansu. rinkos svyravimo duomenu yra dažna tyrimu tema daugelyje pasaulio šaliu. Tačiau vargu ar galima būtu rasti tyrimu, kuriuose būtu bandoma surasti funkcini ryši tarp pirkejo pasitikejimo ir finansu. rinku rodikliu. Šis straipsnis ‐ tai meginimas susieti šias dvi rūšis, orientuojantis i ryši tarp finansu. rinku rodikliu ir pirkejo pasitikejimo indekso prieš prasi‐dedant pasaulinei krizei. Šiame straipsnyje pabrežti du išskirtiniai bruožai. Pirma, nustatomi atskiri mo‐teru ir vyru pasitikejimo indeksai naudojantis 2003 m. sausio men. ‐ 2008 m. sausio men. laikotarpio augančiu rinku mikrolygmens pirkejo pasitikejimo duomenimis (Turku CNBC‐e pirkejo pasitikejimo indeksas). Antra, naudojantis šia informacija tikrinamas ne tik esamas ryšys tarp pirkejo pasitikejimo ir finansu. rinku rodikliu (pavyzdžiui, palūkanu normos, valiutu kurso, akciju biržos indekso). Buvo rasta akivaizdžiu skirtumu tarp atsakymu, gautu iš skirtingu lyčiu atstovu. Visa laikotarpi moterys buvo pesi‐mistiškesnes nei vyrai, tikriausiai del žemo geroves lygio. Jos mažiau reagavo i valiutu kurso pokyčius nei vyrai del mažesnes perkamosios galios.
First Published Online: 14 Oct 2010
Reikšminiai žodžiai: vartotoju pasitikejimas, augančios rinkos, finansu rinkos rodikliai, lyčiu atsaky‐mai, kointegracija |
| first_indexed | 2024-12-18T15:05:17Z |
| format | Article |
| id | doaj.art-451a0ca0cb91468c915aae6fb88589fa |
| institution | Directory Open Access Journal |
| issn | 1611-1699 2029-4433 |
| language | English |
| last_indexed | 2024-12-18T15:05:17Z |
| publishDate | 2010-03-01 |
| publisher | Vilnius Gediminas Technical University |
| record_format | Article |
| series | Journal of Business Economics and Management |
| spelling | doaj.art-451a0ca0cb91468c915aae6fb88589fa2022-12-21T21:03:47ZengVilnius Gediminas Technical UniversityJournal of Business Economics and Management1611-16992029-44332010-03-0111110.3846/jbem.2010.08Women feel more pessimistic than men: Empirical evidence from Turkish consumer confidence indexAshi Küçükaslan0Sadullah Çelik1Marmara University, FEAS, Department of Business Administration, Göztepe Campus, Kadiköy, Istambul, 34722, TurkeyMarmara University, FEAS, Department of Economics, Göztepe Campus, Kadiköy, Istambul, 34722, TurkeyThe leading role that is attributable to economic indicators like consumer confidence has been well documented in the literature for many developed nations. Moreover, the relationship between high frequency financial market data has been a common research topic for world economies. However, there is hardly any study that attempts to search for the possible functional relationship between consumer confidence and financial market variables. This paper is a simple attempt to link these two brands of literature by focusing on the relationship between financial market variables and consumer confidence index before the global crisis has started. We have two distinctive points. First, we derive separate consumer confidence indices for men and women by employing micro‐level consumer confidence data from an emerging market (Turkish CNBC‐e consumer confidence index) for the period of January 2003 ‐ January 2008. Second, employing this data set, we do not only check for the existence of a relationship between consumer confidence and financial market variables (such as interest rates, exchange rates and stock exchange index) but also focus on the possibility of gender response. We find evidence of gender response difference as throughout the period women are more pessimistic than men‐due probably to lower levels of wealth‐and respond less to changes in exchange rates than men‐due probably to lower purchasing power. Santrauka Ekonominiu rodikliu kaip pirkejo pasitikejimo vaidmens svarba yra išsamiai pagrista daugelio išsivys‐čiusiu šaliu literatūroje. Be to, ryšys tarp aukšto finansu. rinkos svyravimo duomenu yra dažna tyrimu tema daugelyje pasaulio šaliu. Tačiau vargu ar galima būtu rasti tyrimu, kuriuose būtu bandoma surasti funkcini ryši tarp pirkejo pasitikejimo ir finansu. rinku rodikliu. Šis straipsnis ‐ tai meginimas susieti šias dvi rūšis, orientuojantis i ryši tarp finansu. rinku rodikliu ir pirkejo pasitikejimo indekso prieš prasi‐dedant pasaulinei krizei. Šiame straipsnyje pabrežti du išskirtiniai bruožai. Pirma, nustatomi atskiri mo‐teru ir vyru pasitikejimo indeksai naudojantis 2003 m. sausio men. ‐ 2008 m. sausio men. laikotarpio augančiu rinku mikrolygmens pirkejo pasitikejimo duomenimis (Turku CNBC‐e pirkejo pasitikejimo indeksas). Antra, naudojantis šia informacija tikrinamas ne tik esamas ryšys tarp pirkejo pasitikejimo ir finansu. rinku rodikliu (pavyzdžiui, palūkanu normos, valiutu kurso, akciju biržos indekso). Buvo rasta akivaizdžiu skirtumu tarp atsakymu, gautu iš skirtingu lyčiu atstovu. Visa laikotarpi moterys buvo pesi‐mistiškesnes nei vyrai, tikriausiai del žemo geroves lygio. Jos mažiau reagavo i valiutu kurso pokyčius nei vyrai del mažesnes perkamosios galios. First Published Online: 14 Oct 2010 Reikšminiai žodžiai: vartotoju pasitikejimas, augančios rinkos, finansu rinkos rodikliai, lyčiu atsaky‐mai, kointegracijahttps://journals.vgtu.lt/index.php/JBEM/article/view/5831consumer confidenceemerging marketfinancial market variablesgender responseco‐integration |
| spellingShingle | Ashi Küçükaslan Sadullah Çelik Women feel more pessimistic than men: Empirical evidence from Turkish consumer confidence index Journal of Business Economics and Management consumer confidence emerging market financial market variables gender response co‐integration |
| title | Women feel more pessimistic than men: Empirical evidence from Turkish consumer confidence index |
| title_full | Women feel more pessimistic than men: Empirical evidence from Turkish consumer confidence index |
| title_fullStr | Women feel more pessimistic than men: Empirical evidence from Turkish consumer confidence index |
| title_full_unstemmed | Women feel more pessimistic than men: Empirical evidence from Turkish consumer confidence index |
| title_short | Women feel more pessimistic than men: Empirical evidence from Turkish consumer confidence index |
| title_sort | women feel more pessimistic than men empirical evidence from turkish consumer confidence index |
| topic | consumer confidence emerging market financial market variables gender response co‐integration |
| url | https://journals.vgtu.lt/index.php/JBEM/article/view/5831 |
| work_keys_str_mv | AT ashikucukaslan womenfeelmorepessimisticthanmenempiricalevidencefromturkishconsumerconfidenceindex AT sadullahcelik womenfeelmorepessimisticthanmenempiricalevidencefromturkishconsumerconfidenceindex |