%0 Journal Article
%T Examining the Relationship between Consumer Confidence Index and Borsa Istanbul Sector Indices
%A Kemal EY¨¹BO£¿LU
%A Sinem EY¨¹BO£¿LU
%J -
%D 2018
%X Decisions of consumers based on psychological factors affect the income of the companies and thus the financial markets. In this respect, there should be a close relationship between consumer confidence and macroeconomic parameters. Consumer Confidence Index is one of the leading indicators of consumers¡¯ expectation about economy. In this paper the relationship between the consumer confidence index and 18 Borsa Istanbul indexes has been examined for the period of 2006:01-2016:11. The cointegration relationship between the variables determined to be stationary at different orders is examined by the Bound Test. Results showed that there is a long-term relationship between the Consumer Confidence Index and all stock indexes in the study. In addition, it is determined that the increase in the consumer confidence index affects 9 index¡¯ returns positively in the short term. Causality results show that stock indices are the cause of consumer confidence
%K T¨¹ketici G¨¹veni
%K Sekt£¿r Endeksleri
%K S£¿n£¿r Testi
%K Toda ve Yamamoto Nedensellik Testi
%U http://dergipark.org.tr/deuiibfd/issue/42620/513753