Petrol ve Doğalgaz Fiyatları İle Hisse Senedi Fiyatları İlişkisi: BİST Sinai Sektöründe Ampirik Bir Araştırma(The Relationship Between Oil and Natural Gas Prices and Stock Price: An Empirical Research in BIST Industrial Sector)

Karakuş, Rıfat

doi:10.20491/isarder.2021.1247

Cited by 6 publications

(3 citation statements)

References 10 publications

Supporting

Mentioning

Contrasting

Unclassified

Order By: Relevance

“…In recent decades, there has been much research effort to study the relationship between gold, crude oil, and the stock markets (Gujarati, 2013;Jain and Biswal, 2016;Coronado et al, 2018;Tursoy and Faisal, 2018;Shabbir and Kousar, 2020;Shaikh, 2021), and discover evidence from developed or emerging markets yielding various results. (Samanta and Zadeh, 2012;Partalidou et al, 2016;Raza et al, 2016;Arfaoui and Rejeb, 2017;Wei and Guo, 2017;Karhan and Aydın, 2018;Pandey and Vipul, 2018;Alio et al, 2019;Singhal et al, 2019;Kumar et al, 2019;Majidli and Guliyev, 2020;Kumar et al, 2021;Kumau et al, 2020;Gherghina et al, 2020;Humbatova et al, 2020;Karakuş, 2021). Some of the empirical studies employed vector autoregressive model (VAR) (Ding et al, 2016;Chkili, 2022;Grabias, 2022;Nairobi et al, 2022;Kelesbayev et al, 2022).…”

Section: Literature Reviewmentioning

confidence: 99%

Analysis of the effect of Energy Prices on Stock Indexes During the Epidemic Crisis

Guliyeva

2023

IJEEP

View full text Add to dashboard Cite

Petroleum and natural gas, which are among the most used energy sources in the world, have a significant impact on financial markets and macroeconomic indicators as they are used as raw materials in many fields. For this reason, US, England, Japan, Russia, Turkey, Brazil, and India, as energy importers and developing countries, may be affected positively or negatively by changes in energy prices. The main purpose of this study is to examine the correlation between Brent oil, crude oil (WTI), and natural gas (NG) prices and Moscow Stock Exchange Index (RTSI), Borsa Istanbul Index (XU100), Bovespa Brazilian Stock Exchange Index (BVSP), Indian National Stock Exchange Nifty 50 Index (NSEI), Standard and Poor’s 500 Index (S and P 500), London Stock Exchange (FTSE 100), and Тokyo Stock Exchange (N225). In the study, weekly data between February 16, 2020 and December 26, 2021 were examined. Vector autoregressive (VAR) model was used to examine the correlation between the variables included in the analysis, and the direction of the correlation between the variables was determined by the Granger causality test. According to the results of the VAR model, Brent oil and crude oil prices have significant effects on the indices included in the analysis; however, natural gas price does not have a significant effect on indices, Brent oil, and crude oil prices. On the other hand, the results of the Granger causality test confirm the findings of the VAR analysis. Granger causality test results reveal that in Granger’s sense, only BVSP and NSEI are the cause of Brent oil price, RTSI, BVSP, NSEI, XU100, S and P 500, FTSE 100, and N225 are the cause of WTI, and WTI is the cause of NSEI.

show abstract

Section: Literature Reviewmentioning

confidence: 99%

Analysis of the effect of Energy Prices on Stock Indexes During the Epidemic Crisis

Guliyeva

2023

IJEEP

View full text Add to dashboard Cite

show abstract

“…Etki-tepki analizi, varyans ayrıştırma analizi ve Granger Nedensellik Testi bulgularına göre; petrol fiyatları ve borsa endeksleri arasındaki nedensellik ilişkilerinin ülke bazında farklılık gösterdiği ayrıca petrol fiyatlarındaki şoklara karşılık endekslerin zayıf ölçekte pozitif veya negatif yönlü tepkiler verdiği tespit edilmiştir. Karakuş (2021), ham petrol, brent petrol ve doğalgaz fiyatları ile BİST Sınai Endekste işlem gören 111 şirketin hisse senedi fiyatları arasındaki ilişkileri, 2010-2019 dönemi arasına ilişkin verileri kullanarak panel eşbütünleşme testi ile analiz etmiştir. Analiz bulgularına göre, petrol fiyatları ile hisse senedi fiyatları arasında eşbütünleşme ilişkisi belirlenirken, doğal gaz fiyatları ile hisse senedi fiyatları arasında uzun dönem ilişkisi tespit edilememiştir.…”

Section: Literatür öZetiunclassified

BİST Sürdürülebilirlik Endeksi ile Fosil Yakıt Fiyatları Arasındaki İlişkinin Analizi

KAYA

2023

Abant Sosyal Bilimler Dergisi

View full text Add to dashboard Cite

Bu çalışmada, BİST Sürdürülebilirlik Endeksi ile fosil yakıt olarak kabul edilen ham petrol, Brent petrol, kalorifer yakıtı, doğalgaz ve kömür fiyatları arasındaki ilişki TVP-VAR yöntemi kullanılarak analiz edilmiştir. Gerçekleştirilen analizde 09/11/2014 – 14/05/2023 tarih aralığına ilişkin haftalık veriler kullanılmıştır. Analiz bulgularına göre, BİST Sürdürülebilirlik Endeks getirisinde meydana gelen değişimlerin %88.72’sinin kendisine ait geçmiş fiyat hareketlerinden kaynaklandığı belirlenmiştir. Fosil yakıt getirilerinin BİST Sürdürülebilirlik Endeks getirilerindeki değişimi açıklama gücü ise %11.28 olarak tespit edilmiştir. Analiz bulguları, BİST Sürdürülebilirlik Endeksinin fosil yakıt fiyatlarına esnekliğinin düşük olduğunu ifade etmekle birlikte petrol bazlı yakıt fiyatlarının doğal gaz ve kömüre oranla BİST Sürdürülebilirlik Endeksi üzerinde daha önemli etkiye sahip olduğunu göstermektedir.

show abstract

“…The analysis results show that oil prices have a positive and weak influence on the BIST Tourism Index. Karakuş (2021), in his study, analysed the relationship between natural gas and oil prices and the stock prices of companies traded in the BIST-Industrial index with the panel cointegration test, and according to the findings, cointegration between oil and stock prices was determined and the increase in oil prices affected the stock prices in the same direction. In Tüzemen's study from 2021, he used the VAR-EGARCH model to look at how changes in oil prices affected the BIST service sector in different ways.…”

Section: Golder Et Al (2020) Used the Johansen Cointegration Test Thementioning

confidence: 99%

Empirical Analysis of the Relationship between Basic Energy Sources and the Tourism Sector Index

Muradzada,

Akbulev

2023

IJEEP

View full text Add to dashboard Cite

In the study, the short-term causality relationship between oil and natural gas prices, which are the main energy sources, and the XTRZM index was analysed with the Granger causality test. The DCC-GARCH model was used. Analyses were carried out over the monthly closing values between 02.01.1997 and 01.12.2022. According to the Granger causality test findings, the reason for both Brent oil and Crude Oil WTI in the XTRZM index is that Brent oil is the cause of Crude Oil WTI. It has been concluded that natural gas, Brent oil, and crude oil are not the causes of the XTRZM index and each other. Because Brent oil and crude oil are not included in the WTI XTRZM index, it has been determined that there is unidirectional Granger causality from the XTRZM index to Brent oil and crude oil WTI. According to the findings obtained from the DCC-GARCH model, there is a positive correlation between natural gas, Brent oil, crude oil, and the BIST tourism index.

show abstract

Petrol ve Doğalgaz Fiyatları İle Hisse Senedi Fiyatları İlişkisi: BİST Sinai Sektöründe Ampirik Bir Araştırma(The Relationship Between Oil and Natural Gas Prices and Stock Price: An Empirical Research in BIST Industrial Sector)

Cited by 6 publications

References 10 publications

Analysis of the effect of Energy Prices on Stock Indexes During the Epidemic Crisis

Analysis of the effect of Energy Prices on Stock Indexes During the Epidemic Crisis

BİST Sürdürülebilirlik Endeksi ile Fosil Yakıt Fiyatları Arasındaki İlişkinin Analizi

Empirical Analysis of the Relationship between Basic Energy Sources and the Tourism Sector Index

Contact Info

Product

Resources

About