The effect of global political events in the Arab spring on stock returns: The case of Turkey

Uluslararası önem düzeyine sahip olan olaylar ya da haberler, ülkelerin iç ve dış politikalarınıetkilemekte ve bu etkilenme sonucunun piyasalara yansıması nedeniyle de yerli ve yabancırasyonel yatırımcıların yatırım karaları sürekli revize edilmektedir. Bu çalışma; Arap Baharısürecinin yaşandığı coğrafya da yer alan ve Türkiyeye sınır olan ülkelerden Irak, İran ve Suriye ileilgili uluslararası nitelikteki iyi ve kötü haberlerin, BİST -100 endeksinin getirileri üzerindekietkisini incelemeyi amaç edinmiştir. Olay çalışması yönteminin kullanıldığı çalışmada ; Irak, İranve Suriye ile ilgili, 2010- 2013 yılları arasında çıkan uluslararası nitelikteki haberler ile MSCIGelişmekte Olan Piyasalar Endeksinin ve BİST -100 endeksinin 2010-2013 dönemindeki günlükkapanış fiyatları, veri olarak kullanılmıştır. Çalışma s onucunda; iyi ve kötü haber sahibi ülkelerdensadece İran kaynaklı haberlerin BİST- 100 endeksi üzerinde etkili olduğunu ortaya koyan bulgularelde edilmiştir.

Arap Baharındaki küresel siyasi olayların hisse getirileri üzerindeki etkisi: Türkiye örneği

International events or news have an effect on countries internal and external policies and sincethis effect is reflected on the markets, the decisions of domestic and foreign investors are revisedcontinually. This study aims to analyze the effect of international good and bad news related toIraq, Iran and Syria that are located in the Arab spring region and are border to Turkey, on thereturns of ISE- 100 index The study utilized event study methodology, international news related toI raq, Iran and Syria between 2010-2013 and the daily closing price data of MSCI EmergingMarkets Index and ISE- 100 index between 2010-2013 constituted the dataset. At the end of thestudy, it was found that only the Iran-related news had effect on ISE- 100 index.

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