Electricity Prices and Stock Market Performance: Evidence from Borsa Istanbul

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dc.authoridhttps://orcid.org/0000-0001-5401-860Xen_US
dc.authoridhttps://orcid.org/0000-0002-2115-1807en_US
dc.contributor.authorTurhan, Beyza
dc.contributor.authorDoğan, Nükhet
dc.date.accessioned2023-11-09T03:49:41Z
dc.date.available2023-11-09T03:49:41Z
dc.date.issued2021en_US
dc.departmentİstanbul Gelişim Üniversitesien_US
dc.description.abstractIn this study, the effects of electricity prices on the change of the closing price of the Borsa Istanbul 100 index and its sub-sector price indexes are analyzed with non-linear autoregressive distributed lag models by using the Turkish monthly data for the June 2006 to February 2018 period. The findings suggest that there is an asymmetric relationship between the changes in electricity prices and the Borsa Istanbul price index. The dynamic effects of electricity price changes on the Borsa Istanbul and its sub-sector price indexes reveal that all price indexes demonstrate significantly rapid and strong responses to negative changes in a period of about 3 months while introducing considerably stronger responses to positive changes in a period of generally 9 months. Therefore, a negative shock in electricity prices conducts to a rise in price indexes in the short-run. However, a positive shock in electricity prices dominates in the long-run for all price indexes except Technology.en_US
dc.identifier.endpage55en_US
dc.identifier.issn2718-1065
dc.identifier.issn2791-8084
dc.identifier.issue1en_US
dc.identifier.startpage41en_US
dc.identifier.urihttps://hdl.handle.net/11363/6285
dc.identifier.volume2en_US
dc.language.isoenen_US
dc.publisherİstanbul Gelişim Üniversitesi Yayınları / Istanbul Gelisim University Pressen_US
dc.relation.ispartofJournal of Sustainable Economics and Management Studiesen_US
dc.relation.publicationcategoryMakale - Ulusal Hakemli Dergi - Başka Kurum Yazarıen_US
dc.rightsinfo:eu-repo/semantics/openAccessen_US
dc.rightsAttribution-NonCommercial-NoDerivs 3.0 United States*
dc.rights.urihttp://creativecommons.org/licenses/by-nc-nd/3.0/us/*
dc.subjectElectricity Pricesen_US
dc.subjectStock Exchangeen_US
dc.subjectAsymmetryen_US
dc.subjectCointegrationen_US
dc.subjectNARDLen_US
dc.titleElectricity Prices and Stock Market Performance: Evidence from Borsa Istanbulen_US
dc.typeArticleen_US

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ECOMAN Vol. 2, Issue 1, June 2021