IS BORSA ISTANBUL AFFECTED BY AIR POLLUTION?

Year 2018, Volume: 36 Issue: 3, 71 - 87, 27.09.2018

Sinem Eyüboğlu Kemal Eyüboğlu

https://doi.org/10.17065/huniibf.331942

Abstract

Nowadays, studies examining the effects of environmental factors on human behavior
are increasing rapidly. Some of these studies focus on investor behaviors in financial
markets. In this study, it is examined whether or not air pollution, which is
an environmental factor that may have an effect on investor behaviors, has an
effect on stock returns for the period of 01.02.2007-20.07.2016 in BIST. As a
result of the analysis, it is determined that air pollution has significant and
negative current-time effect on BIST Services and lagged-time effect on BIST
100, BIST Industrials and BIST Financials indices returns.

HAVA KİRLİLİĞİ BORSA İSTANBUL’U ETKİLER Mİ?

Abstract

Günümüzde çevresel faktörlerin insan
davranışları üzerindeki etkisini araştıran çalışmalar hızla artmaktadır. Bu
çalışmaların bir kısmı ise finansal piyasalardaki yatırımcı davranışları üzerinde
odaklanmaktadır. Bu çalışmada 01.02.2007-20.07.2016 dönemi için yatırımcı
davranışları üzerinde etkisi olabilecek çevresel bir faktör olan hava
kirliliğinin hisse senedi getirileri üzerinde etkisi olup olmadığı araştırılmıştır.
Çalışmada Borsa İstanbul’da hesaplanan BIST-100, Sınai, Mali ve Hizmetler
endeksleri ele alınmıştır. Yapılan analizler sonucunda ise hava kirliliğinin endeks
getirileri üzerinde anlamlı bir etkisi olmadığı belirlenmiştir. 

Keywords

Hava kirliliği, davranışsal finans, Borsa İstanbul

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