TY  - JOUR
T1  - Interaction Between CDS Premiums and Stock Markets: Case of Turkey
TT  - Interaction Between CDS Premiums and Stock Markets: Case of Turkey
AU  - Bolaman Avcı, Özge
PY  - 2020
DA  - January
Y2  - 2019
DO  - 10.25287/ohuiibf.526638
JF  - Ömer Halisdemir Üniversitesi İktisadi ve İdari Bilimler Fakültesi Dergisi
JO  - ÖHÜİİBFD
PB  - Niğde Ömer Halisdemir Üniversitesi
WT  - DergiPark
SN  - 2564-6931
SP  - 1
EP  - 8
VL  - 13
IS  - 1
LA  - en
AB  - The relationship between CDS premiums and stock market is investigatedin this study by using data of Turkey. Here CDS premiums, which constitute analternative to credit ratings of countries, are used as a measure of sovereign creditrisk. At the end of the examination a long-term relationship is found betweenvariables. Nonetheless causality relationship cannot be detected betweenvariables. Long run relationship that is detected could be associated with bothforeign and domestic investors who perceive CDS premiums as a barometer ofsovereign credit risk and make investment decisions by considering factorsincluding sovereign credit risk.
KW  - credit default swap
KW  - stock markets
KW  - sovereign credit risk
N2  - Bu çalışma kapsamında Türkiye verisi kullanılarak CDS primleri ile hissesenedi piyasası arasındaki ilişki incelenmiştir. Burada ülke riskini temsilenülke kredi notlarına alternatif olarak kullanılan CDS primlerindeki değişimkullanılmıştır. Araştırma sonunda değişkenler arasında uzun vadeli ilişkininvarlığı kanıtlanmıştır. Nedensellik ilişkisi tespit edilememiştir. Tespitedilen uzun vadeli ilişki, CDS primlerindeki değişimi ülke riskinin barometresiolarak değerlendiren yabancı ve yerli yatırımcıların CDS primlerini de içerenfaktörleri dikkate alarak yatırım kararlarını vermesiyleilişkilendirilebilir.
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UR  - https://doi.org/10.25287/ohuiibf.526638
L1  - https://dergipark.org.tr/tr/download/article-file/925838
ER  -