This study aims to determine whether the traditional or portfolio approach is relevant for developing countries, by using the relationship between stock prices and exchange rates. For this purpose, cointegration (Pesaran et al., 2001) and causality tests (Toda Yamamoto, 1995) are used to examine...

Bu çalışmada, doğrudan yabancı yatırımlar ile ekonomik büyüme arasındaki nedensellik ilişkisi, dokuz gelişmekte olan ülkenin 1970–2006 yıllarını kapsayan verileri kullanılarak incelenmiştir. Toda Yamamoto (1995) nedensellik analizi uygulanarak elde edilen sonuçlara göre;...

The main purpose of this paper is to analyze the causal relationships between defence spending and economic growth using the Toda–Yamamoto approach to Granger causality test in the case of selected NATO countries for the period of 1949-2006. NATO countries spend biggest proportion of defence...

Purpose – The purpose of this paper is to analyze cointegration and causality relationships between spot and futures markets in Turkish foreign-exchange markets. Design/methodology/approach – The research employs Bounds cointegration test and Toda-Yamamoto causality test to detect a possible...

Bu çalışmada, Türkiye’de ekonomik büyüme ile ihracat ilişkisi 1974-2004 dönemi için incelenmiştir. Kullanılan değişkenlerden ekonomik büyüme I(0) ihracat I(1) olduğu için aralarındaki ilişki Sınır (Bound) Testi yaklaşımı ile araştırılmıştır. Bu yaklaşıma göre...

Bu çalışmada, hisse senedi fiyatları ile temel makro ekonomik değişkenlerden kabul edilen enflasyon, faiz oranı, döviz kuru ve ekonomik büyüme arasındaki nedensellik ilişkisi Toda Yamamoto (1995) tarafından geliştirilen nedensellik analizi çerçevesinde araştırılmıştır. Test...

This paper will investigate the causal relationship between oil consumption and GNP. For this purpose, we will investigate the presence of cointegration among the variables and use a vector error correction model to test causality relationship. Empirical results for Turkey over the period...

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...