STOCK MARKET AS AN INDICATOR OF MARITIME TRANSPORT DEMAND: AN EVIDENCE FROM TURKEY AND ISTFIX REGION

Sadık Özlen Başer; Abdullah Açık

doi:10.21180/iibfdkastamonu.463354

STOCK MARKET AS AN INDICATOR OF MARITIME TRANSPORT DEMAND: AN EVIDENCE FROM TURKEY AND ISTFIX REGION

Öz

The aim of this study is to determine asymmetric causal relationship between Turkish economy and freight rates in the ISTFIX region by separating the positive and negative shocks in the variables. Therefore, asymmetric causality test developed by Hatemi-J is used. Unlike other studies, some stock market variables in Turkey are selected as economic indicators and included in the analysis. Selected stock market variables are BIST 100, BIST Industrial and BIST Transportation indices. The data set used in the study consists of 558 observations on a weekly basis covering the dates between 1st January 2018 and 10th September 2018. As a result of the study, while causal relationships are expected between both negative and positive shocks, only negative shocks in all three stock exchanges are found to cause negative shocks in the ISTFIX index. This results suggest that negative news in the economy is felt directly in the maritime market, but the impact of positive news is not immediately reflected. Furthermore, it is thought that the producers refrain from ordering more raw materials when they encounter negative shocks in the market and negatively affect the demand for sea transportation, which also causes to decrease in the freight rates. These results also indicate that the stock values in Turkey may be a leading indicator for the freight market in the ISTFIX region.

Anahtar Kelimeler

Asymmetric causality,ISTFIX,Stock exchange,Freight market

Kaynakça

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Ayrıntılar

Birincil Dil

İngilizce

Konular

-

Bölüm

Araştırma Makalesi

Yazarlar

Sadık Özlen Başer
0000-0001-6632-2617
Türkiye

Abdullah Açık ^*
0000-0003-4542-9831
Türkiye

Yayımlanma Tarihi

31 Ekim 2018

Gönderilme Tarihi

24 Eylül 2018

Kabul Tarihi

15 Ekim 2018

Yayımlandığı Sayı

Yıl 2018 Cilt: 20 Sayı: 4

DOI

https://doi.org/10.21180/iibfdkastamonu.463354

IZ

https://izlik.org/JA65YR47KA

Kaynak Göster

RIS / Bibtex

APA

Başer, S. Ö., & Açık, A. (2018). STOCK MARKET AS AN INDICATOR OF MARITIME TRANSPORT DEMAND: AN EVIDENCE FROM TURKEY AND ISTFIX REGION. Kastamonu Üniversitesi İktisadi ve İdari Bilimler Fakültesi Dergisi, 20(4), 77-88. https://doi.org/10.21180/iibfdkastamonu.463354

AMA

1.Başer SÖ, Açık A. STOCK MARKET AS AN INDICATOR OF MARITIME TRANSPORT DEMAND: AN EVIDENCE FROM TURKEY AND ISTFIX REGION. Kastamonu Üniversitesi İktisadi ve İdari Bilimler Fakültesi Dergisi. 2018;20(4):77-88. doi:10.21180/iibfdkastamonu.463354

Chicago

Başer, Sadık Özlen, ve Abdullah Açık. 2018. “STOCK MARKET AS AN INDICATOR OF MARITIME TRANSPORT DEMAND: AN EVIDENCE FROM TURKEY AND ISTFIX REGION”. Kastamonu Üniversitesi İktisadi ve İdari Bilimler Fakültesi Dergisi 20 (4): 77-88. https://doi.org/10.21180/iibfdkastamonu.463354.

EndNote

Başer SÖ, Açık A (01 Ekim 2018) STOCK MARKET AS AN INDICATOR OF MARITIME TRANSPORT DEMAND: AN EVIDENCE FROM TURKEY AND ISTFIX REGION. Kastamonu Üniversitesi İktisadi ve İdari Bilimler Fakültesi Dergisi 20 4 77–88.

IEEE

[1]S. Ö. Başer ve A. Açık, “STOCK MARKET AS AN INDICATOR OF MARITIME TRANSPORT DEMAND: AN EVIDENCE FROM TURKEY AND ISTFIX REGION”, Kastamonu Üniversitesi İktisadi ve İdari Bilimler Fakültesi Dergisi, c. 20, sy 4, ss. 77–88, Eki. 2018, doi: 10.21180/iibfdkastamonu.463354.

ISNAD

Başer, Sadık Özlen - Açık, Abdullah. “STOCK MARKET AS AN INDICATOR OF MARITIME TRANSPORT DEMAND: AN EVIDENCE FROM TURKEY AND ISTFIX REGION”. Kastamonu Üniversitesi İktisadi ve İdari Bilimler Fakültesi Dergisi 20/4 (01 Ekim 2018): 77-88. https://doi.org/10.21180/iibfdkastamonu.463354.

JAMA

1.Başer SÖ, Açık A. STOCK MARKET AS AN INDICATOR OF MARITIME TRANSPORT DEMAND: AN EVIDENCE FROM TURKEY AND ISTFIX REGION. Kastamonu Üniversitesi İktisadi ve İdari Bilimler Fakültesi Dergisi. 2018;20:77–88.

MLA

Başer, Sadık Özlen, ve Abdullah Açık. “STOCK MARKET AS AN INDICATOR OF MARITIME TRANSPORT DEMAND: AN EVIDENCE FROM TURKEY AND ISTFIX REGION”. Kastamonu Üniversitesi İktisadi ve İdari Bilimler Fakültesi Dergisi, c. 20, sy 4, Ekim 2018, ss. 77-88, doi:10.21180/iibfdkastamonu.463354.

Vancouver

1.Sadık Özlen Başer, Abdullah Açık. STOCK MARKET AS AN INDICATOR OF MARITIME TRANSPORT DEMAND: AN EVIDENCE FROM TURKEY AND ISTFIX REGION. Kastamonu Üniversitesi İktisadi ve İdari Bilimler Fakültesi Dergisi. 01 Ekim 2018;20(4):77-88. doi:10.21180/iibfdkastamonu.463354