Impact of Oil Prices on BIST City Indices: Regional Differences in Company Performance

Emre Bulut

doi:10.16951/trendbusecon.1443242

TR EN

Petrol Fiyatlarının BIST Şehir Endeksleri Üzerindeki Etkisi: Şirket Performansında Bölgesel Farklılıklar

Öz

Bu makale, WTI ham petrol fiyatlarının BIST'te işlem gören dokuz şehir endeksi üzerindeki etkisini 2014-2024 yılları arasındaki günlük verileri kullanarak incelemektedir. Çalışmada, petrol fiyatları ve şehir endeksleri arasındaki uzun dönemli ilişkiyi araştırmak için birim kök testleri, eşbütünleşme analizi ve FMOLS tahmini kullanılmıştır. Sonuçlar, petrol fiyatları ve şehir endekslerinin uzun dönemde simetrik ve anlamlı bir ilişki sergilediğini ve şehir endeksleri arasında farklı etki dereceleri olduğunu göstermektedir. Antalya ili ve çevresindeki şirketlerin oluşturduğu XSANT Endeksi ham petrol fiyatlarından en çok etkilenen endeks olurken, İstanbul ilindeki şirketlerin oluşturduğu XSIST Endeksi en az etkilenen endeks olmuştur. Bulgular, petrol fiyatlarındaki dalgalanmaları ve bunların finansal piyasa endeksleri üzerindeki etkilerini izlemesi gereken yatırımcılar ve politika yapıcılar için önemli çıkarımlara sahiptir.

Anahtar Kelimeler

Ham petrol fiyatları , şehir endeksleri , BIST , eşbütünleşme , FMOLS

Impact of Oil Prices on BIST City Indices: Regional Differences in Company Performance

Abstract

This article examines the impact of WTI crude oil prices on nine city indices traded on the BIST, using daily data from 2014 to 2024. The study employs unit root tests, cointegration analysis, and FMOLS estimation to investigate the long-term relationship between oil prices and city indices. The results indicate that oil prices and city indices exhibit a symmetrical and significant relationship in the long run, with different degrees of impact across city indices. The XSANT Index, comprising companies in and around Antalya province, is the most influenced by crude oil prices, whereas the XSIST Index, comprising companies in Istanbul province, is the least affected. The findings have important implications for investors and policymakers who need to monitor oil price fluctuations and their effects on financial market indices.

Keywords

Crude oil prices , BIST , FMOLS , Cointengency , City Indicies

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Details

Primary Language

English

Subjects

Regional Economy , Financial Economy

Journal Section

Research Article

Authors

Emre Bulut ^*
0000-0002-2884-1405
Türkiye

Early Pub Date

January 8, 2025

Publication Date

January 8, 2025

Submission Date

February 27, 2024

Acceptance Date

October 21, 2024

Published in Issue

Year 2025 Volume: 39 Number: 1

DOI

https://doi.org/10.16951/trendbusecon.1443242

IZ

https://izlik.org/JA57HH56JE

APA

Bulut, E. (2025). Impact of Oil Prices on BIST City Indices: Regional Differences in Company Performance. Trends in Business and Economics, 39(1), 14-25. https://doi.org/10.16951/trendbusecon.1443242

Content of this journal is licensed under a Creative Commons Attribution 4.0 International License

29928

Petrol Fiyatlarının BIST Şehir Endeksleri Üzerindeki Etkisi: Şirket Performansında Bölgesel Farklılıklar

Öz

Anahtar Kelimeler

Impact of Oil Prices on BIST City Indices: Regional Differences in Company Performance

Abstract

Keywords

References

Details

Primary Language

Subjects

Journal Section

Authors

Early Pub Date

Publication Date

Submission Date

Acceptance Date

Published in Issue

DOI

IZ

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