Macroeconomic variables and stock market returns: a comparison of Germany and Turkey
[ X ]
Tarih
2015
Yazarlar
Dergi Başlığı
Dergi ISSN
Cilt Başlığı
Yayıncı
Peter Lang AG
Erişim Hakkı
info:eu-repo/semantics/closedAccess
Özet
This study evaluates the effects of macroeconomic variables on the stock returns in Turkey and Germany. It contains data for 120 months covering the period from January 2005 to December 2014. Multiple Linear Regression model is used to analyze the relationship between current account balance, inflation rate, interest rate, export/import ratio, industrial production index, exchange rate and returns of DAX-30 and BIST-30 indexes. The results indicate that there is a statistically significant relationship between interest rate, industrial production index, exchange rate, and BIST-30 index return. On the other hand, the German stock exchange DAX-30 is affected by interest rate, exchange rate, export/ import ratio and industrial production index. © Peter Lang GmbH.
Açıklama
Anahtar Kelimeler
Arbitrage pricing theory, BIST-30, DAX-30, Macroeconomic variables
Kaynak
Turkish German Affairs from an Interdisciplinary Perspective
WoS Q Değeri
Scopus Q Değeri
N/A
