@article{article_808651, title={Determining The Country-Specific Variables Affecting The Market Value of Turkish Eurobonds: NARDL Approach}, journal={Yönetim Bilimleri Dergisi}, volume={19}, pages={723–744}, year={2021}, DOI={10.35408/comuybd.808651}, author={Yiğit, Fatih and Canöz, İsmail}, keywords={Avrovil, Kredi Temerrüt Takası, Asimetrik İlişki, NARDL}, abstract={This study aims to determine the country-specific variables influencing the market value of eurobonds issued by the Republic of Turkey Ministry of Treasury and Finance. The study covers the period from January 2012 to June 2020. For the study, the 102-month time series are analysed with the NARDL model. Parallel to the model, independent variables are decomposed into positive and negative shocks and these components are added to the model. Thus, the existence of a significant asymmetric cointegration relationship is investigated. According to the findings, the negative and positive shocks of credit default swap in both the short and long term significantly affect the Turkish eurobond market value, but the negative shock has a greater impact. In addition, the negative shock of total international reserves in the short term and the negative shock of the current account in the long term significantly affect the Turkish eurobond market value.}, number={41}, publisher={Çanakkale Onsekiz Mart Üniversitesi}