The Relation between Confidence Climate and Stock Returns: The Case of Turkey

Basit Öğe Kaydı
dc.contributor.authorKale, Suleyman
dc.contributor.authorAkkaya, Murat
dc.date.accessioned2024-09-11T19:51:22Z
dc.date.available2024-09-11T19:51:22Z
dc.date.issued2016
dc.departmentİstanbul Gelişim Üniversitesien_US
dc.description5th Istanbul Conference of Economics and Finance -- JUN 06-07, 2016 -- Yildiz Tech Univ, Istanbul, TURKEYen_US
dc.description.abstractThis study examines the relations between consumer confidence, reel sector confidence and five different stock indices (aggregate, financial, industrial, service and technological) with VAR models. Michigan University Sentiment Index, VIX volatility index and GFK Germany Consumer Climate Index are also associated into the models to investigate international effects. The results suggest that, there is no causality relation from consumer confidence towards stock returns, however, stock returns found to positively affect consumer confidence. On the other hand, two-way causality exists between reel sector confidence index and stock returns, each one effects the other with certain lag of time. Michigan University Consumer Sentiment Index and VIX volatility index have explanatory power on almost all stock indices of Turkey, but GFK Germany Consumer Climate Index has no effect on any stock returns in all models. This may indicate that, globalization takes part in domestic markets, and rather than Germany, USA confidence climate is more felt in Turkey. (C) 2016 The Authors. Published by Elsevier B.V.en_US
dc.description.sponsorshipIstanbul Econ & Finance Assoc,Isik Univ,Galatasaray Univen_US
dc.identifier.doi10.1016/S2212-5671(16)30186-1
dc.identifier.endpage162en_US
dc.identifier.issn2212-5671
dc.identifier.scopusqualityN/Aen_US
dc.identifier.startpage150en_US
dc.identifier.urihttps://doi.org/10.1016/S2212-5671(16)30186-1
dc.identifier.urihttps://hdl.handle.net/11363/7772
dc.identifier.volume38en_US
dc.identifier.wosWOS:000386630100016en_US
dc.identifier.wosqualityN/Aen_US
dc.indekslendigikaynakWeb of Scienceen_US
dc.indekslendigikaynakScopusen_US
dc.language.isoenen_US
dc.publisherElsevier Science Bven_US
dc.relation.ispartof5th Istanbul Conference of Economics And Financeen_US
dc.relation.publicationcategoryKonferans Öğesi - Uluslararası - Kurum Öğretim Elemanıen_US
dc.rightsinfo:eu-repo/semantics/openAccessen_US
dc.snmz20240903_Gen_US
dc.subjectConsumer confidenceen_US
dc.subjectinvestor confidenceen_US
dc.subjectsentiment and stock returnsen_US
dc.titleThe Relation between Confidence Climate and Stock Returns: The Case of Turkeyen_US
dc.typeConference Objecten_US

Dosyalar

Orijinal paket
Listeleniyor 1 - 1 / 1
Küçük Resim
İsim:
Makale / Article
Boyut:
330.02 KB
Biçim:
Adobe Portable Document Format
İndir

Koleksiyon

WoS İndeksli Yayınlar Koleksiyonu
Scopus İndeksli Yayınlar Koleksiyonu