TY  - JOUR
TT  - GÖSTERGE FAİZ ORANI DALGALANMALARI VE BİST ENDEKSLERİ ARASINDAKİ İLİŞKİNİN EŞANLI KANTİL REGRESYON İLE ANALİZİ
AU  - Uyar, Umut
AU  - Uyar, Sinem Kangallı
AU  - Gökçe, Altan
PY  - 2016
DA  - September
JF  - Ege Academic Review
JO  - eab
PB  - Ege University
WT  - DergiPark
SN  - 1303-099X
SP  - 587
EP  - 598
VL  - 16
IS  - 4
KW  - Benchmark Index
KW  - Borsa Istanbul Simultaneous Quantile Regression
N2  - İktisat teorisinde, yatırımcılar açısından birbirine ikame olarak ifade edilebilecek faiz oranı ile sermaye piyasaları arasında negatif bir korelasyon beklenmektedir. Gösterge Faiz Oranı ise, vadesi 5 yıl olan ve yıllık kupon ödemesi yapılan Devlet Tahvili faizini ifade eden faiz oranıdır. İkincil piyasalarda en fazla işlem gören tahvil çeşitlerinden biri olduğu için gösterge faiz oranı, piyasalar tarafından referans olarak kullanılmaktadır. Bu çalışmanın amacı, gösterge faiz oranı ile Borsa İstanbul endeksleri (XU100, XU30, XUTUM, XUMAL ve XBANK) arasındaki ilişkiyi endekslerin farklı kantilleri için analiz etmektir. Analiz bulgularına göre, endekslerin yüksek ya da düşük olduğu dönemlerde gösterge faiz oranı hareketleri sermaye piyasalarını negatif ve farklı şiddetlerde etkilemektedir. Etkinin şiddeti mali ve bankacılık endekslerinde daha da artmaktadır. Ayrıca, ekonomide oluşan ani bir faiz şokuna da endeksler farklı şekilde tepki vermektedir. Bu açıdan yatırımcılara, gösterge faiz oranı tahminlerine göre yatırımlarını yönlendirirken endekslerin düşük ya da yüksek olduğu dönemlerde stratejilerini revize etmeleri önerilmektedir
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UR  - https://dergipark.org.tr/en/pub/eab/issue//474831
L1  - https://dergipark.org.tr/en/download/article-file/561133
ER  -