Abstract:

The purpose of this study is to investigate the relationship between the macro economic variables and ISE-100 Index returns. In this study which includes the monthly data from January 2002 to June 2012, ISE-100 index returns are determined as dependent variable and interest rate, money supply, industrial production index and exchange rates are determined as independent variables. We have used ordinaryleast squares method of multiple regression models. According to research findings, there is a positive relation between stock returns and Money supply (M2) and a negative relation with exchange rate

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