Year 2018, Volume 2, Issue 1, Pages 136 - 153 2018-01-31

The Causality Relationship Between Istanbul Stock Exchange 100 Index and Consumer Confidence Index: The Case of Turkey

İsmail CANÖZ [1]

190 438

Traditional finance theories ignore investors’ sensitivity and psychology, assuming that they are rational. This situation leads to emergence of behavioral finance theories. The purpose of this study is to analyze the relationship between the Consumer Confidence Indices announced for Turkey and the Istanbul Stock Exchange Index. Within this scope, the monthly data from 2004 to 2017 have been analyzed using the Toda-Yamamoto Causality Test, which will be used for the first time in this subject. According to the analysis result, it is determined that there is a one-way causality relation from stock returns to consumer confidence. As a result, consumers’ confidence for the economy is affected by fluctuations in stock exchanges.
Behavioral Finance, Investor Sentiment, Consumer Confidence Index, Toda-Yamamoto CausaliyTest
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Primary Language en
Subjects Management
Journal Section Articles
Authors

Author: İsmail CANÖZ (Primary Author)
Institution: İSTANBUL AREL ÜNİVERSİTESİ
Country: Turkey


Bibtex @research article { fsecon366622, journal = {Fiscaoeconomia}, issn = {}, eissn = {2564-7504}, address = {Ahmet Arif EREN}, year = {2018}, volume = {2}, pages = {136 - 153}, doi = {10.25295/fsecon.366622}, title = {The Causality Relationship Between Istanbul Stock Exchange 100 Index and Consumer Confidence Index: The Case of Turkey}, key = {cite}, author = {CANÖZ, İsmail} }
APA CANÖZ, İ . (2018). The Causality Relationship Between Istanbul Stock Exchange 100 Index and Consumer Confidence Index: The Case of Turkey. Fiscaoeconomia, 2 (1), 136-153. DOI: 10.25295/fsecon.366622
MLA CANÖZ, İ . "The Causality Relationship Between Istanbul Stock Exchange 100 Index and Consumer Confidence Index: The Case of Turkey". Fiscaoeconomia 2 (2018): 136-153 <http://dergipark.org.tr/fsecon/issue/34876/366622>
Chicago CANÖZ, İ . "The Causality Relationship Between Istanbul Stock Exchange 100 Index and Consumer Confidence Index: The Case of Turkey". Fiscaoeconomia 2 (2018): 136-153
RIS TY - JOUR T1 - The Causality Relationship Between Istanbul Stock Exchange 100 Index and Consumer Confidence Index: The Case of Turkey AU - İsmail CANÖZ Y1 - 2018 PY - 2018 N1 - doi: 10.25295/fsecon.366622 DO - 10.25295/fsecon.366622 T2 - Fiscaoeconomia JF - Journal JO - JOR SP - 136 EP - 153 VL - 2 IS - 1 SN - -2564-7504 M3 - doi: 10.25295/fsecon.366622 UR - https://doi.org/10.25295/fsecon.366622 Y2 - 2017 ER -
EndNote %0 Fiscaoeconomia The Causality Relationship Between Istanbul Stock Exchange 100 Index and Consumer Confidence Index: The Case of Turkey %A İsmail CANÖZ %T The Causality Relationship Between Istanbul Stock Exchange 100 Index and Consumer Confidence Index: The Case of Turkey %D 2018 %J Fiscaoeconomia %P -2564-7504 %V 2 %N 1 %R doi: 10.25295/fsecon.366622 %U 10.25295/fsecon.366622
ISNAD CANÖZ, İsmail . "The Causality Relationship Between Istanbul Stock Exchange 100 Index and Consumer Confidence Index: The Case of Turkey". Fiscaoeconomia 2 / 1 (January 2018): 136-153. https://doi.org/10.25295/fsecon.366622