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Exchange rate, which is defined as the value of national currency in terms of foreign currency, used to be determined on the basis of international goods and services trade; however, with the development of technology, money markets became more effective in the determination of exchange rates. In this respect, foreign exchange rate is one of the most critical indicators in economy in the current global economic environment, where uncertainties have increased. This study aims to explain the effects of changes in foreign exchange on the stock returns. In this context, 42 companies were selected which were in operation in Istanbul Stock Exchange 100 Index and traded in the manufacturing and trade sectors between the years 2006-2014. Annual changes in real exchange rate index and stock returns were calculated. The panel data analysis was used as the method of estimation. In conclusion, it was found that changes in real exchange rate index had a positive and significant effect on stock returns.
exchange rate which is defined as the value of national currency in foreign currency used to be determined on the basis of international goods and services trade however with the development of technology money markets have become more effective in the difficulties of exchange rates of exchange rates in this respect foreign exchange rate is one of the most critical indicators in economy in the current global economic environment where uncertainties have increased this study objective to explain the effects of changes in foreign exchange on the stock of the stock of this context 42 companies were selected which in operation in istanbul stock exchange 100 in the exchange rate of real estate exchange rates from the exchange rate of the exchange rate of the exchange rate of the exchange rate of the exchange rate of the exchange rate of the real value of 2014 was calculated trade rate of exchange rates in 2014 and the exchange rate of exchange rate of exchange rate of exchange rate of exchange rate of exchange rates from the exchange rates of exchange rate of exchange rate of exchange rate of exchange rate of exchange rate of exchange rates in 2014 in exchange rate of exchange rate of exchange rates of exchange rates of exchange rates of exchange rates in exchange rates in exchange rates in exchange rate of exchange rate of exchange rate of exchange rate of exchange rate of exchange rate of exchange rate of exchange rate of exchange rate of exchange rates in real
Field : Sosyal, Beşeri ve İdari Bilimler
Journal Type : Uluslararası
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