TY  - JOUR
T1  - Effects of Economic Activities on Stock Market Prices: Case of Borsa Istanbul Sustainability Index
AU  - Oğuz, Onur
PY  - 2025
DA  - August
Y2  - 2025
JF  - Romaya Journal
JO  - Maya/Roma
PB  - Ebru Bağçı
WT  - DergiPark
SN  - 2791-9099
SP  - 168
EP  - 176
VL  - 5
IS  - Special Issue (SI) IXASC 2025
LA  - en
AB  - For over a century, the rapidly increasing trend of industrialization has led to the excessive use of natural resources. In the field of economics, many studies are being conducted to ensure the sustainability of growth and development for this reason. In the capital markets, various indexes have been created that are based on companies meeting certain criteria and demonstrate their commitment to sustainability. Being included in these indexes provides firms with both prestige and the opportunity to use alternative green financial instruments. Certainly, stock markets are influenced by macroeconomic and political developments. The explanatory power of economic variables in determining stock market price movements has been extensively investigatedand generally substantiated in many empirical works. This study examines the impact of nominal and real economic variables’ (inflation and industrial production index, respectively) convergence inside the Borsa Istanbul Sustainability Index for the period January 2015-April 2025 with Fourier-based methodologies due to the structural changes in the Turkish economy. The cointegration test result indicates that the null hypothesis of cointegration is not rejected. So, it confirms that there is a long-term positive and significance relationship between the BIST Sustainability Index, the industrial production index, and inflation rates. These results are important for risk diversification among investors who are considering sustainability sensitivities.
KW  - Borsa Istanbul Sustainability Index
KW  - Inflation
KW  - Industrial Production Index
KW  - Fourier Cointegration
CR  - Akyuz, M. and Karul, C. (2023). The effect of economic factors on
suicide: An analysis of a developing country, International Journal
of Human Rights in Healthcare, 16(5), 473-482.
UR  - https://dergipark.org.tr/tr/pub/romaya-journal/issue//1774855
L1  - https://dergipark.org.tr/tr/download/article-file/5198888
ER  -