Hisse Senedi Piyasası ve Reel Ekonomik Faaliyetler Arasındaki İlişkinin Araştırılması

Yıl 2011, Cilt: 16 Sayı: 1, 333 - 348, 01.03.2011

  Yrd.doç.dr.ömer İskenderoğlu Doç.dr.serkan Yılmaz Kandır Prof.dr.yıldırım Beyazıt Önal

Öz

Anahtar Kelimeler

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HİSSE SENEDİ PİYASASI VE REEL EKONOMİK FAALİYETLER ARASINDAKİ İLİŞKİNİN ARAŞTIRILMASI

Öz

Bu çalışmanın amacı, hisse senedi piyasası ile sanayi üretimi arasındaki ilişkiyi incelemektir. Bu bağlamda, sanayi üretim endeksi ve İMKB Ulusal Sınai Endeksi arasındaki ilişki Johansen eşbütünleşme yöntemi ve hata düzeltme modeliyle araştırılmıştır. Çalışma Ocak 1991 ve Aralık 2009 dönemini kapsamaktadır. Analiz sonuçları, hisse senedi piyasası ile sanayi üretimi arasında uzun dönemli bir ilişki olduğunu göstermektedir. Ayrıca Johansen Hata Düzeltme Modeli İMKB Ulusal Sınaî endeksinin tek yönlü olarak sanayi üretim endeksini etkilediğini ortaya koymaktadır

Anahtar Kelimeler

Hisse Senedi Getirisi, Sanayi Üretimi, Eşbütünleşme, Nedensellik

Kaynakça

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