Pay Piyasası Getirilerini Etkileyen Makroekonomik Faktörler: Avrasya Ülkeleri Borsa Endeksleri Üzerine Bir Analiz

GAZEL>, Yiğit Han; Suyadal, Mehmetcan; Yavuz, Melih Sefa

doi:10.33206/mjss.1028800

Cited by 2 publications

(2 citation statements)

References 17 publications

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“…It has been determined that the changes in the industrial production index, interest rate, CPI, exchange rate, and oil prices explain the Kazakhstan stock market by 62%, the oil price and exchange rate variables, which are among the independent variables included in the model, are statistically significant and affect the stock market negatively. Gazel et al (2022) analyzed the relations between the stock market index returns of Russia, Turkey, Kazakhstan, and Ukraine and selected macroeconomic variables. This research used the stock market index quarterly data and macroeconomic data of Russia, Turkey, Kazakhstan, and Ukraine for the period 2009-2021 obtained from the Thomson Reuters database.…”

Section: Literature Reviewmentioning

confidence: 99%

The Relationship between the Highest Prices and Trading Volume in the Share Indices of Energy and Oil Companies in Kazakhstan

Zhussipova

Ydyrys

Makhanbetova

et al. 2023

IJEEP

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This study uses econometric methods to reveal the relationship between the highest price formation and trading volume in the share indices of energy and oil companies traded on the Kazakhstan Stock Exchange (KASE). The study used daily transaction data of KEGC, KZAP, and KZTO companies for 200 trading days in 2022. The analysis is based on the VAR method. The shock effect analysis concluded that there is a mutual interaction between the trading volume and the highest price formation for all three companies. Trading volume had a causal effect on the highest price of only one company (KZTO). The existence of a correlation between the trading volume and the highest price formation is important for investment decisions. This can be interpreted as an indication of a connection between the trading volume and the highest price formation in KASE. More information on this relationship can be obtained by performing similar analyses for other companies traded in the KASE.

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Section: Literature Reviewmentioning

confidence: 99%

The Relationship between the Highest Prices and Trading Volume in the Share Indices of Energy and Oil Companies in Kazakhstan

Zhussipova

Ydyrys

Makhanbetova

et al. 2023

IJEEP

View full text Add to dashboard Cite

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“…In addition, a negative relationship was found between exchange rates and stock market returns. Gazel et al (2022) analyzed the relationships between stock market index returns in Russia, Turkey, Kazakhstan, and Ukraine and selected macroeconomic variables such as GDP growth rate, inflation, exchange rate, imports, exports, and interest rates.…”

Section: Patra and Poshakwale (mentioning

confidence: 99%

Comparative Analysis of Volatility Structures of Stock Index and Energy Company Returns in Kazakhstan

Sabenova¹,

Baubekova

Issayeva

et al. 2023

IJEEP

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Kazakhstan Stock Exchange (KASE) is established on November 17, 1993, with the participation of 23 leading Kazakh banks under the leadership of the National Bank of the Republic of Kazakhstan. KASE has had an important position in the country's economy since then. This study comparatively analyses the volatility structures of the return of the KASE Composite Index and the returns of the oil and energy companies traded in the KASE in the period between 5.01.2021 and 4.01.2023. The preliminary test (ARCH LM) showed that the volatility structure of the past period is effective on the current period in all four returns. Based on this finding, the structure of the series was evaluated with four different models. All four return series conformed with the GARCH-M (1, 1) model. Accordingly, the finding that oil and energy companies and the stock market composite index have the same volatility structure is important for investor decisions. Moreover, the finding that any past financial shock or volatility fluctuation affects the current return will positively affect the estimation of the future value of financial assets.

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Pay Piyasası Getirilerini Etkileyen Makroekonomik Faktörler: Avrasya Ülkeleri Borsa Endeksleri Üzerine Bir Analiz

Cited by 2 publications

References 17 publications

The Relationship between the Highest Prices and Trading Volume in the Share Indices of Energy and Oil Companies in Kazakhstan

The Relationship between the Highest Prices and Trading Volume in the Share Indices of Energy and Oil Companies in Kazakhstan

Comparative Analysis of Volatility Structures of Stock Index and Energy Company Returns in Kazakhstan

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