The Determinants of Stock Market Returns: An ARDL Investigation on Borsa Istanbul
In this paper we examine the long run and the short run dynamics of stock return and macroeconomic and financial variables like gold prices, oil prices, export volume, import volume and exchange rate. The empirical investigation employed on monthly data between January 1988 to November 2013. The Aut...
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| Format: | Article |
| Language: | English |
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Editura ASE Bucuresti
2014-03-01
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| Series: | Romanian Economic Journal |
| Subjects: | |
| Online Access: | http://www.rejournal.eu/article/determinants-stock-market-returns-ardl-investigation-borsa-istanbul |
| _version_ | 1811283377028857856 |
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| author | Sevinç Güler Halime Temel Nalın |
| author_facet | Sevinç Güler Halime Temel Nalın |
| author_sort | Sevinç Güler |
| collection | DOAJ |
| description | In this paper we examine the long run and the short run dynamics of stock return and macroeconomic and financial variables like gold prices, oil prices, export volume, import volume and exchange rate. The empirical investigation employed on monthly data between January 1988 to November 2013. The Autoregressive Distrubuted Lag (ARDL) called analytical-cointegration technique is applied to capture the dynamics of short-run and long-run relationship between veriables. According to results we found a long run relationship between stock return and economic factors and existence of significant relationship between import and stock return in long run and short run models |
| first_indexed | 2024-04-13T02:10:30Z |
| format | Article |
| id | doaj.art-7d36342075a64cd29bb46da60433d39a |
| institution | Directory Open Access Journal |
| issn | 1454-4296 2286-2056 |
| language | English |
| last_indexed | 2024-04-13T02:10:30Z |
| publishDate | 2014-03-01 |
| publisher | Editura ASE Bucuresti |
| record_format | Article |
| series | Romanian Economic Journal |
| spelling | doaj.art-7d36342075a64cd29bb46da60433d39a2022-12-22T03:07:19ZengEditura ASE BucurestiRomanian Economic Journal1454-42962286-20562014-03-01XVII51324The Determinants of Stock Market Returns: An ARDL Investigation on Borsa IstanbulSevinç Güler0Halime Temel Nalın1Dokuz Eylul University, Izmir, Turkey and visiting Scholar, University of Arkansas at Little Rock (UALR), AR, USABulent Ecevit University, Department of Business Administration, Faculty of Economics and Administrative Sciences, Zonguldak, TurkeyIn this paper we examine the long run and the short run dynamics of stock return and macroeconomic and financial variables like gold prices, oil prices, export volume, import volume and exchange rate. The empirical investigation employed on monthly data between January 1988 to November 2013. The Autoregressive Distrubuted Lag (ARDL) called analytical-cointegration technique is applied to capture the dynamics of short-run and long-run relationship between veriables. According to results we found a long run relationship between stock return and economic factors and existence of significant relationship between import and stock return in long run and short run modelshttp://www.rejournal.eu/article/determinants-stock-market-returns-ardl-investigation-borsa-istanbulStock ReturnEconomic FactorsARDL |
| spellingShingle | Sevinç Güler Halime Temel Nalın The Determinants of Stock Market Returns: An ARDL Investigation on Borsa Istanbul Romanian Economic Journal Stock Return Economic Factors ARDL |
| title | The Determinants of Stock Market Returns: An ARDL Investigation on Borsa Istanbul |
| title_full | The Determinants of Stock Market Returns: An ARDL Investigation on Borsa Istanbul |
| title_fullStr | The Determinants of Stock Market Returns: An ARDL Investigation on Borsa Istanbul |
| title_full_unstemmed | The Determinants of Stock Market Returns: An ARDL Investigation on Borsa Istanbul |
| title_short | The Determinants of Stock Market Returns: An ARDL Investigation on Borsa Istanbul |
| title_sort | determinants of stock market returns an ardl investigation on borsa istanbul |
| topic | Stock Return Economic Factors ARDL |
| url | http://www.rejournal.eu/article/determinants-stock-market-returns-ardl-investigation-borsa-istanbul |
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