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Arap Baharındaki Küresel Siyasi Olayların Hisse Getirileri Üzerindeki Etkisi: Türkiye Örneği

The Effect of Global Political Events in the Arab Spring on Stock Returns: The Case of Turkey

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Abstract (2. Language): 
International events or news have an effect on countries’ internal and external policies and since this effect is reflected on the markets, the decisions of domestic and foreign investors are revised continually. This study aims to analyze the effect of international good and bad news related to Iraq, Iran and Syria that are located in the Arab spring region and are border to Turkey, on the returns of ISE-100 index The study utilized event study methodology, international news related to Iraq, Iran and Syria between 2010-2013 and the daily closing price data of MSCI Emerging Markets Index and ISE-100 index between 2010-2013 constituted the dataset. At the end of the study, it was found that only the Iran-related news had effect on ISE-100 index.
Abstract (Original Language): 
Uluslararası önem düzeyine sahip olan olaylar ya da haberler, ülkelerin iç ve dış politikalarını etkilemekte ve bu etkilenme sonucunun piyasalara yansıması nedeniyle de yerli ve yabancı rasyonel yatırımcıların yatırım karaları sürekli revize edilmektedir. Bu çalışma; Arap Baharı sürecinin yaşandığı coğrafyada yer alan ve Türkiye’ye sınır olan ülkelerden Irak, İran ve Suriye ile ilgili uluslararası nitelikteki iyi ve kötü haberlerin, BİST-100 endeksinin getirileri üzerindeki etkisini incelemeyi amaç edinmiştir. Olay çalışması yönteminin kullanıldığı çalışmada; Irak, İran ve Suriye ile ilgili, 2010-2013 yılları arasında çıkan uluslararası nitelikteki haberler ile MSCI Gelişmekte Olan Piyasalar Endeksinin ve BİST-100 endeksinin 2010-2013 dönemindeki günlük kapanış fiyatları, veri olarak kullanılmıştır. Çalışma sonucunda; iyi ve kötü haber sahibi ülkelerden sadece İran kaynaklı haberlerin BİST-100 endeksi üzerinde etkili olduğunu ortaya koyan bulgular elde edilmiştir.
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REFERENCES

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