Investigation of the Effect of Investor Risk Appetite Index and Macroeconomic Indicators on the BIST-100 Index

Çağlar Sözen; Ferhat İspiroğlu; Onur Şeyranlıoğlu

doi:10.25229/beta.1188081

EN

Investigation of the Effect of Investor Risk Appetite Index and Macroeconomic Indicators on the BIST-100 Index

Abstract

In this study, the relationship between Borsa Istanbul 100 Index (BIST-100), Investor Risk Appetite Index (RISE), and macroeconomic indicators are tried to be determined using Autoregressive Distributed Lag (ARDL) Bounds Testing Approach with monthly data covering the periods 01/2011-08/2022. Inflation and interest rate are used as macroeconomic indicators. By taking into account the unit root test results related to the stationary conditions of the series, an econometric model is founded in which the BIST-100 was selected as a dependent variable, and a cointegration relationship was determined. In addition, the parameters of the models were estimated and evaluated. In the long and shortterm forecast results, it was determined that the BIST-100 index is positively related to inflation and the RISE index, and negatively related to the interest rate.

Keywords

BIST-100, Investor Appetite Index (RISE), Inflation Rate, Interest Rate, Autoregressive Distributed Lag (ARDL) Bounds Test.

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Details

Primary Language

English

Subjects

Business Administration

Journal Section

Research Article

Authors

Çağlar Sözen ^*
0000-0002-3732-5058
Türkiye

Ferhat İspiroğlu
0000-0003-4374-5988
Türkiye

Onur Şeyranlıoğlu
0000-0002-1105-4034
Türkiye

Publication Date

December 31, 2022

Submission Date

October 12, 2022

Acceptance Date

November 14, 2022

Published in Issue

Year 2022 Volume: 7 Number: 2

DOI

https://doi.org/10.25229/beta.1188081

IZ

https://izlik.org/JA99LD66UL

APA

Sözen, Ç., İspiroğlu, F., & Şeyranlıoğlu, O. (2022). Investigation of the Effect of Investor Risk Appetite Index and Macroeconomic Indicators on the BIST-100 Index. Bulletin of Economic Theory and Analysis, 7(2), 355-378. https://doi.org/10.25229/beta.1188081

AMA

1.Sözen Ç, İspiroğlu F, Şeyranlıoğlu O. Investigation of the Effect of Investor Risk Appetite Index and Macroeconomic Indicators on the BIST-100 Index. Beta. 2022;7(2):355-378. doi:10.25229/beta.1188081

Chicago

Sözen, Çağlar, Ferhat İspiroğlu, and Onur Şeyranlıoğlu. 2022. “Investigation of the Effect of Investor Risk Appetite Index and Macroeconomic Indicators on the BIST-100 Index”. Bulletin of Economic Theory and Analysis 7 (2): 355-78. https://doi.org/10.25229/beta.1188081.

EndNote

Sözen Ç, İspiroğlu F, Şeyranlıoğlu O (December 1, 2022) Investigation of the Effect of Investor Risk Appetite Index and Macroeconomic Indicators on the BIST-100 Index. Bulletin of Economic Theory and Analysis 7 2 355–378.

IEEE

[1]Ç. Sözen, F. İspiroğlu, and O. Şeyranlıoğlu, “Investigation of the Effect of Investor Risk Appetite Index and Macroeconomic Indicators on the BIST-100 Index”, Beta, vol. 7, no. 2, pp. 355–378, Dec. 2022, doi: 10.25229/beta.1188081.

ISNAD

Sözen, Çağlar - İspiroğlu, Ferhat - Şeyranlıoğlu, Onur. “Investigation of the Effect of Investor Risk Appetite Index and Macroeconomic Indicators on the BIST-100 Index”. Bulletin of Economic Theory and Analysis 7/2 (December 1, 2022): 355-378. https://doi.org/10.25229/beta.1188081.

JAMA

1.Sözen Ç, İspiroğlu F, Şeyranlıoğlu O. Investigation of the Effect of Investor Risk Appetite Index and Macroeconomic Indicators on the BIST-100 Index. Beta. 2022;7:355–378.

MLA

Sözen, Çağlar, et al. “Investigation of the Effect of Investor Risk Appetite Index and Macroeconomic Indicators on the BIST-100 Index”. Bulletin of Economic Theory and Analysis, vol. 7, no. 2, Dec. 2022, pp. 355-78, doi:10.25229/beta.1188081.

Vancouver

1.Çağlar Sözen, Ferhat İspiroğlu, Onur Şeyranlıoğlu. Investigation of the Effect of Investor Risk Appetite Index and Macroeconomic Indicators on the BIST-100 Index. Beta. 2022 Dec. 1;7(2):355-78. doi:10.25229/beta.1188081

Cited By

YATIRIMCI RİSK EĞİLİMİNİN SÜRDÜRÜLEBİLİRLİK ENDEKSİ ÜZERİNDEKİ SİMETRİK VE ASİMETRİK ETKİLERİ: ARDL VE NARDL YAKLAŞIMI

Doğuş Üniversitesi Dergisi

https://doi.org/10.31671/doujournal.1815360

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