Country Credit Risk Level, Oil Prices and the Main Macroeconomic Indicators Effect to Stock Returns: Sample of BIST 100
Özet
In addition to the main macroeconomic indicators in the country, it is also an important research issue that Credit Default Swaps (CDS), which shows the credit risk level of the country, and oil prices have an influence on stock returns. In this paper, the effects of CDS spreads, oil prices and selected macroeconomic variables on the Istanbul Stock Exchange Index (BIST100) were tried to be analysed. For this purpose, it was tested with the cyclical ARDL bound testing approach of 2006: 01 and 2015: 09 months. According to the results of the research, long term CDS spreads, oil prices, inflation rate, real interest rates and monetary expansion have significant effects on BIST100 index of economic growth. Long term effective exchange rate changes have no effect on the BIST100 index
Anahtar Kelimeler
Tam Kayıt
| Alan | Değer | Dil |
|---|---|---|
| dc.contributor.author | Baltaci, Nuri | |
| dc.contributor.author | Akyol, Hikmet | |
| dc.date.accessioned | 2026-10-22T10:45:09.915162224Z | |
| dc.date.available | 2026-10-22T10:45:09.915162224Z | |
| dc.date.issued | 2018 | |
| dc.description.abstract | In addition to the main macroeconomic indicators in the country, it is also an important research issue that Credit Default Swaps (CDS), which shows the credit risk level of the country, and oil prices have an influence on stock returns. In this paper, the effects of CDS spreads, oil prices and selected macroeconomic variables on the Istanbul Stock Exchange Index (BIST100) were tried to be analysed. For this purpose, it was tested with the cyclical ARDL bound testing approach of 2006: 01 and 2015: 09 months. According to the results of the research, long term CDS spreads, oil prices, inflation rate, real interest rates and monetary expansion have significant effects on BIST100 index of economic growth. Long term effective exchange rate changes have no effect on the BIST100 index | |
| dc.identifier.eissn | 2149-0643 | |
| dc.identifier.endpage | 476 | |
| dc.identifier.issn | 1307-5500 | |
| dc.identifier.issue | 22 | |
| dc.identifier.startpage | 459 | |
| dc.identifier.uri | https://rdlopen.rawdatalibrary.net/r/gumushane/18299 | |
| dc.identifier.volume | 0 | |
| dc.language.iso | tr | |
| dc.relation.ispartof | Kafkas Üniversitesi Sosyal Bilimler Enstitüsü Dergisi | |
| dc.rights | info:eu-repo/semantics/closedAccess | |
| dc.subject | İktisat | |
| dc.subject | İşletme Finans | |
| dc.title | Country Credit Risk Level, Oil Prices and the Main Macroeconomic Indicators Effect to Stock Returns: Sample of BIST 100 | |
| dc.type | Article | |
| dspace.entity.type | Publication | |
| rdl.citation.trdizin | 9 | |
| rdl.source.index | TRDIZIN |