Petrol Fiyatları-Hisse Senedi Fiyatları İlişkisi: Bist Sektörel Analiz
The Relationship Between Oil Prices And Stock Prices: BIST Sectoral Analysis

Summary/Abstract: Changes in oil prices are frequently considered as an important factor for understanding fluctuations in stock prices. There are numerous studies that investigate the relationship between oil prices and stock market. Many studies in literature have analyzed the causal relationship between oil price and stock returns by using aggregated data. There are few studies that examine the relationship between oil prices and stock prices at sector specific level. The purpose of this paper is to investigate the long run and short run relationship between oil prices and stock prices for BIST at the sector specific level by using daily data for the period 2005- 2013. In this study, the Granger causality test shows strong evidence that the causation runs from stock prices to oil prices for many sectors.

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