العلاقة التبادلية بين سعر الصرف و أسعار الأسهم : دراسة تطبيقية في سوق اسطنبول للأوراق المالية للمدة 2005-2020
Other Title(s)
The reciprocal relationship between the exchange rate and stock price : an empirical study at the Istanbul stock exchange
Author
Source
مجلة اقتصاديات الاعمال للبحوث التطبيقية
Issue
Vol. 1, Issue 1 (30 Jun. 2021), pp.43-62, 20 p.
Publisher
University in Fallujah College of Administration and Economics
Publication Date
2021-06-30
Country of Publication
Iraq
No. of Pages
20
Main Subjects
Topics
Abstract EN
The study aims to analyzing the reciprocal relationship between the nominal exchange rate of the Turkish lira versus the U.
S.
dollar and the stock prices of the companies listed on the Istanbul Stock Exchange (ISE) expressed in the general market index for the period from 2005 to 2020 with 192 monthly observations, based on the traditional theory and the theory of portfolio balance model in theoretical interpretation for that relationship, aiming to identify the effect of the exchange rate on stock prices, as well as to analyze the causal relationship between those variables and to identify which of them is the cause or which is the result, using the Autoregressive Distributed Lag (ARDL) model.
The research found that the exchange rate has a positive effect on stock prices in the long term, despite the emergence of the negative impact in the short term, but the long-term relationship has corrected the course of the short-term relationship with a time period not exceeding one month, in addition to proving that this relationship takes one direction.
From the exchange rate towards stock prices, that is, the exchange rate is the reason and stock prices are the result, therefore the results of this research helps investors to predict future trends of stock prices depending on the exchange rate changes, and it also enables the companies, especially those with foreign transactions, to manage price risks the exchange rate in order to avoid its negative impact on its share price, as it represents an obstacle to achieving its main goal of maximizing the share price.
American Psychological Association (APA)
النعيمي، سعد الله محمد عبيد. 2021. العلاقة التبادلية بين سعر الصرف و أسعار الأسهم : دراسة تطبيقية في سوق اسطنبول للأوراق المالية للمدة 2005-2020. مجلة اقتصاديات الاعمال للبحوث التطبيقية،مج. 1، ع. 1، ص ص. 43-62.
https://search.emarefa.net/detail/BIM-1350240
Modern Language Association (MLA)
النعيمي، سعد الله محمد عبيد. العلاقة التبادلية بين سعر الصرف و أسعار الأسهم : دراسة تطبيقية في سوق اسطنبول للأوراق المالية للمدة 2005-2020. مجلة اقتصاديات الاعمال للبحوث التطبيقية مج. 1، ع. 1 (حزيران 2021)، ص ص. 43-62.
https://search.emarefa.net/detail/BIM-1350240
American Medical Association (AMA)
النعيمي، سعد الله محمد عبيد. العلاقة التبادلية بين سعر الصرف و أسعار الأسهم : دراسة تطبيقية في سوق اسطنبول للأوراق المالية للمدة 2005-2020. مجلة اقتصاديات الاعمال للبحوث التطبيقية. 2021. مج. 1، ع. 1، ص ص. 43-62.
https://search.emarefa.net/detail/BIM-1350240
Data Type
Journal Articles
Language
Arabic
Notes
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Record ID
BIM-1350240