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Terör Olaylarının Finansal Piyasalar Üzerine Etkisi

2017, Sosyoekonomi

Abstract

In this study, we examined the volatility effect of terrorist incidents on Istanbul Gold Exchange, ISE100 and on the index yields of the sub-sectors in Turkey. Since negative and positive events have different effects on volatility, EGARCH and GJR-GARCH models used. Because of the study, it has seen that the terrorist attacks which occured in Turkey do not have statistically significant effects on the volatility of Istanbul Gold Exchange, ISE100 and of the sub-sectors. In addition, it has found that gold, service and technology indices have affected by only positive events; however, both negative and positive ones affect industrial and financial indices.