The aim of this study is to investigate the relationship between reel macroeconomic variables and stock prices in Turkey under quot;Proxy hypothesisquot; developed by Fama (1981). According to Proxy hypothesis of Fama, real macroeconomic variables such as consumption expenditures, economic...

The aim of this study is to expose the relationships between Istanbul (Turkey), Merval (Argentina) and Bovespa (Brazil) stock exchange markets using monthly data covering the period 1997:03-2007:06. The long term co-movement of the stock exchanges has been tested by cointegration test developed...

In this study, the relationship between the inflation and the economic growth in Turkey has been examined in the framework of data covering 1987:1-2006:3 periods. The existence of the long term relationship between these two variables has been examined using Bound Test developed by Pesaran et...

This study aims to explain the factors affecting the profitability among Turkish industrial firms. The determination of the factors which may influance profitability enables firms to work more effectively and to control their profits much easily. For this reason, the top 500 and the second batch...

This study aims to explain the determinants of capital structure and find out if static trade off or pecking order is more successful in explaining the debt behaviour of industrial firms in Turkey. For this purpose, the data set of largest 500 and following largest 500 industrial firms...

This paper investigates the relationship between reel macroeconomic variables and stock prices in Turkey. Consumption expenditures, industrial production index, employment level and fixed investments are used as indicators of real economic activity and consumption price index as an indicator of...