Fiscaoeconomia

Fiscaoeconomia

The Causality Relationship Between Istanbul Stock Exchange 100 Index and Consumer Confidence Index: The Case of Turkey

Yazarlar: İsmail CANÖZ

Cilt 2 , Sayı 1 , 2018 , Sayfalar 136 - 153

Konular:İşletme

DOI:10.25295/fsecon.366622

Anahtar Kelimeler:Behavioral Finance, Investor Sentiment, Consumer Confidence Index, Toda-Yamamoto CausaliyTest

Özet: Traditional finance theories ignore investors’ sensitivity and psychology, assuming that they are rational. This situation leads to emergence of behavioral finance theories. The purpose of this study is to analyze the relationship between the Consumer Confidence Indices announced for Turkey and the Istanbul Stock Exchange Index. Within this scope, the monthly data from 2004 to 2017 have been analyzed using the Toda-Yamamoto Causality Test, which will be used for the first time in this subject. According to the analysis result, it is determined that there is a one-way causality relation from stock returns to consumer confidence. As a result, consumers’ confidence for the economy is affected by fluctuations in stock exchanges.


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BibTex
KOPYALA
@article{2018, title={The Causality Relationship Between Istanbul Stock Exchange 100 Index and Consumer Confidence Index: The Case of Turkey}, volume={2}, number={1}, publisher={Fiscaoeconomia}, author={İsmail CANÖZ}, year={2018}, pages={136–153} }
APA
KOPYALA
İsmail CANÖZ. (2018). The Causality Relationship Between Istanbul Stock Exchange 100 Index and Consumer Confidence Index: The Case of Turkey (Vol. 2, pp. 136–153). Vol. 2, pp. 136–153. Fiscaoeconomia.
MLA
KOPYALA
İsmail CANÖZ. The Causality Relationship Between Istanbul Stock Exchange 100 Index and Consumer Confidence Index: The Case of Turkey. no. 1, Fiscaoeconomia, 2018, pp. 136–53.