The Effect of Investor Sentiment on the BIST Stock Index Yatırımcı Duyarlılığının BIST Pay Piyasasına Etkisi
Sosyoekonomi, cilt.29, sa.50, ss.387-412, 2021 (ESCI, Scopus, TRDizin)
- Yayın Türü: Makale / Tam Makale
- Cilt numarası: 29 Sayı: 50
- Basım Tarihi: 2021
- Doi Numarası: 10.17233/sosyoekonomi.2021.04.18
- Dergi Adı: Sosyoekonomi
- Derginin Tarandığı İndeksler: Emerging Sources Citation Index (ESCI), Scopus, TR DİZİN (ULAKBİM)
- Sayfa Sayıları: ss.387-412
- Anahtar Kelimeler: Investor Sentiment, Behavioural Finance, Consumer Confidence Index, VIX Index
- Açık Arşiv Koleksiyonu: AVESİS Açık Erişim Koleksiyonu
- Uşak Üniversitesi Adresli: Evet
Özet
This study investigates the relationship between the CBRT Consumer Confidence Index, Bloomberg HT Consumer Confidence Index, and the VIX Index, which represent investor sentiment, and the BIST 100 Index. This study covers the period January 2007-August 2020, and monthly data are used. Cointegration tests results’ show a cointegration relationship between the BIST 100 Index and the Bloomberg HT Consumer Confidence Index and VIX Index. However, a cointegration between BIST 100 Index and CBRT Consumer Confidence Index has not been determined. According to the causality analysis, there is one-way causality from the BIST 100 Index to consumer confidence indices and one-way causality from the VIX Index to the BIST 100 Index.