Seçilmiş Makroekonomik Değişkenler İle Havayolu Hisse Senetleri Arasındaki İlişki: Hatemi-J Asimetrik Nedensellik Testi

Bu çalışmanın temel amacı altın fiyatları, döviz kuru ve petrol fiyatları ile havayolu hisse senetleri arasındaki nedensellik ilişkisinin ampirik olarak incelenmesidir. Çalışmada 26 Nisan 2013 ile 03 Şubat 2021 dönemi arasındaki günlük veriler kullanılmıştır. Çalışma kapsamında Hatemi-J, Nedensellik analizi kullanılmıştır. Ampirik analiz sonuçları, seçilmiş makroekonomik değişkenlerden hisse senetleri fiyatlarına doğru ve hisse senetleri fiyatlarından seçilmiş makroekonomik değişkenlere doğru anlamlı nedensellik ilişkisinin varlığını göstermektedir.

Anahtar Kelimeler:

Sivil Havacılık, THY, PEGASUS, Hatemi-J, Nedensellik Testi

RELATIONSHIP BETWEEN SELECTED MACROECONOMIC VARIABLES AND AIRLINE STOCK CERTIFICATES: HATEMI-J ASYMMETRIC CAUSALITY TEST

The main objective of this study is to empirically analyze the causality relationship between gold prices, exchange rates and oil prices and airline stocks. Daily data between April 26, 2013 and February 03, 2021 were used in the study. Within the framework of the study, Hatemi-J, Causality analysis was employed. Empirical analysis results indicate the existence of a significant causality relationship from selected macroeconomic variables to stock prices and from stock prices to selected macroeconomic variables.

Keywords:

Civil Aviation, THY, PEGASUS, Hatemi-J, Nedensellik Testi,

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