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Derginin Adı:
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dumlupınar üniversitesi sosyal bilimler derggisi
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Cilt:
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2019/1
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Sayı:
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59
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Makale Başlık:
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4. Oil Prices and Banking Stocks Nexus: Evidence From an Oil-Dependent Country
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Makale Alternatif Dilde Başlık:
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Alternatif dilde başlık bulunmamaktadır. There is no article title in another language.)
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Makale Eklenme Tarihi:
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8.02.2019
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Okunma Sayısı:
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1
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Makale Özeti:
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We investigate the impact of oil prices on Borsa Istanbul banking index during 2004-2016 and for the periods before and after the 2008 crisis. We especially examine banking stock performances since any significant factor affecting financial institutions, would probably have an impact on the whole economy due to the contagion. Furthermore, banking index is the leader index in Borsa Istanbul with 36% of market capitalization of Borsa Istanbul and financial institutions in Turkey experienced a significant mergers and acquisitions flow in the last decade. Hence, the interrelationship between foreign and domestic markets has intensified, significantly. Our sample period is between 2004 and 2016 and we employ Granger-causality to capture the predictive power of oil prices on stock market and generalized impulse responses to analyze the sign and duration of the relationship. Results reveal that financial and commodity markets are highly integrated and oil is a significant commodity for Turkish market. Furthermore, banking equities seem to benefit from oil price increases between 2008-2016 and therefore one should include banking stocks into their portfolios, when commodity prices are surging.
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Alternatif Dilde Özet:
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Alternatif dilde abstract bulunmamaktadır. (There is no abstract in another language.)
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