Google trend arama hacim endeksi ile BİST 30 firmalarının getirileri arasındaki ilişki
Küçük Resim Yok
Tarih
2023
Yazarlar
Dergi Başlığı
Dergi ISSN
Cilt Başlığı
Yayıncı
Niğde Ömer Halisdemir Üniversitesi
Erişim Hakkı
info:eu-repo/semantics/openAccess
Özet
Alphabet firması bünyesinde yer alan Google, Google arama motoru ile farklı konularda genel aramalar yapmak, Google finans ile finansla ilgili bilgi almak ve Google Akademik ile akademik çalışmaları takip etmek gibi birçok hizmeti kullanıcılarına sunmaktadır. Bu da Google'ın arama verilerini sınıflandırmasında uzmanlaşmış bir firma olduğunu göstermektedir. Alphabet firması, Google Trends hizmeti ile 2004 yılından beri kullanıcılara Google arama terimlerinin sorgulama hacmini ve bu hacimlerdeki zaman içerisinde meydana gelen değişimleri paylaşmaktadır. Bu çalışmada yatırımcı ilgisini temsil eden Google arama sayılarının paylaşıldığı Google Trends aramaları ile BİST 30 şirketlerinin fiyatlarındaki değişim arasındaki ilişkiyi incelemek amaçlanmıştır. Diğer bir ifade ile Google arama hacimlerinin ile pay fiyatları arasında karşılıklı bir etki olup olmadığı tespit edilmeye çalışılacaktır. Şirketlerin getiri verileri Investing internet adresinden, Google Trends verileri ise Google Trends internet adresinden temin edilmiştir. Araştırılan veri seti 2016 ve 2021 arasındaki aylık verilerden oluşmaktadır. Bu çalışmada, getiri ile Google Trends aranma sayısı arasındaki ilişki Panel VAR testi ile incelenmiştir. Yatay kesit bağımlılığı olup olmadığı Pesaran CD Testi ile incelenmiş yatay kesit bağımlılığı olduğu sonucuna ulaşılınca CIPS Birim Kök testi yapılmıştır. Hangi nedensellik testinin uygulanacağına karar vermek için homojenlik testi yapılmış ve değişkenlerin homojen olduğu sonucuna ulaşılmıştır. Yapılan nedensellik analizi sonucunda Google Trends arama hacim endeksi ile firma getirileri arasında çift yönlü ilişki olduğu sonucuna ulaşılmıştır.
Google, which is part of the Alphabet company, offers many services to its users, such as making general searches on different topics with the Google search engine, getting information about finance with Google finance, and following academic studies with Google Scholar. This shows that Google is a company that specializes in classifying search data. Alphabet company, with its Google Trends service, has been sharing the query volume of Google search terms and the changes in these volumes over time with users since 2004. This study, it is aimed to examine the relationship between Google Trends searches, where the number of Google searches representing investor interest, and the changes in the prices of BIST 30 companies. In other words, it will be tried to determine whether there is a bi-directional effect between Google search volumes and stock return. The stock return data of the companies were obtained from the Investing website, and the Google Trends data were obtained from the Google Trends website. The dataset consists of monthly data between 2016 and 2021. The relationship between the stock returns and the number of Google Trends searches was examined with the Panel VAR methodology. The cross-section dependency test was examined with the Pesaran CD Test, and when it was concluded that there was a cross-sectional dependence, the CIPS Unit Root test was performed. To decide which causality test will be applied, the homogeneity test was performed and it was concluded that the variables were homogeneous. As a result of the causality analysis, it was concluded that there is a bi-directional relationship between the Google Trends search volume index and stock returns.
Google, which is part of the Alphabet company, offers many services to its users, such as making general searches on different topics with the Google search engine, getting information about finance with Google finance, and following academic studies with Google Scholar. This shows that Google is a company that specializes in classifying search data. Alphabet company, with its Google Trends service, has been sharing the query volume of Google search terms and the changes in these volumes over time with users since 2004. This study, it is aimed to examine the relationship between Google Trends searches, where the number of Google searches representing investor interest, and the changes in the prices of BIST 30 companies. In other words, it will be tried to determine whether there is a bi-directional effect between Google search volumes and stock return. The stock return data of the companies were obtained from the Investing website, and the Google Trends data were obtained from the Google Trends website. The dataset consists of monthly data between 2016 and 2021. The relationship between the stock returns and the number of Google Trends searches was examined with the Panel VAR methodology. The cross-section dependency test was examined with the Pesaran CD Test, and when it was concluded that there was a cross-sectional dependence, the CIPS Unit Root test was performed. To decide which causality test will be applied, the homogeneity test was performed and it was concluded that the variables were homogeneous. As a result of the causality analysis, it was concluded that there is a bi-directional relationship between the Google Trends search volume index and stock returns.
Açıklama
Sosyal Bilimler Enstitüsü, Bankacılık ve Finans Ana Bilim Dalı
Anahtar Kelimeler
Bankacılık, Banking, Maliye
