Exchange Rate and IMKB100 Index Relationship: A New Test

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dc.contributor.authorBerke, Burcu
dc.date.accessioned2024-11-07T13:25:04Z
dc.date.available2024-11-07T13:25:04Z
dc.date.issued2012
dc.departmentNiğde Ömer Halisdemir Üniversitesi
dc.description.abstractThere are two approaches for the relationship between exchange rates and stock prices including traditional and portfolio balance approaches. According to traditional approach, changes in exchange rates affect the profitability of firms and finally, results in a change in stock prices. In this approach, there is a positive relationship between these two variables. On portfolio balance approach, the increase in stock prices has a reducing effect on exchange rate and leads to a negative relationship. In this study questioning of the validity of these approaches for the period 01/04/2002-31/07/2012, the relationship between TL/USD exchange rate and IMKB100 price index is being investigated by using FMOLS, CCR and DOLS methods in Turkey. The results of the three tests show that there is a negative relationship between two variables and therefore, portfolio balance approach is supported.
dc.identifier.endpage257
dc.identifier.issn1300-3623
dc.identifier.issue163
dc.identifier.startpage243
dc.identifier.urihttps://hdl.handle.net/11480/14483
dc.identifier.wosWOS:000420275800014
dc.identifier.wosqualityN/A
dc.indekslendigikaynakWeb of Science
dc.language.isotr
dc.publisherMaliye Bakanligi
dc.relation.ispartofMaliye Dergisi
dc.relation.publicationcategoryMakale - Uluslararası Hakemli Dergi - Kurum Öğretim Elemanı
dc.rightsinfo:eu-repo/semantics/closedAccess
dc.snmzKA_20241106
dc.subjectExchange Rates
dc.subjectStock Prices
dc.subjectFMOLS
dc.subjectCCR and DOLS Methods
dc.titleExchange Rate and IMKB100 Index Relationship: A New Test
dc.typeArticle

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