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3
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84
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26
This study examines the effects of country risk premiums on the stock prices. For this purpose, the relationship between the variables of economic risk, financial risk, political risk and country risk commonly used and calculated by the ICRG (International Country Risk Guide) and the BIST100 index has been analysed, for the period of 1999:01-2013:12, by using Johansen Cointegration Test and Vector Error Correction Model. The findings obtained from the study reveal the presence of a short and long-term causality moving from the risk premiums in question to the stock prices. The regression estimates carried out indicate that the premiums of economic, financial, political and county risks have a negative effect over the stock prices
this study examines the effects of country risk premiums on the stock prices for this purpose of relationship between the variables of economic risk deficit risk threat and country risk is widely used and calculated by the ıcrg ınternational country risk guide and the bist100 index has been analyzed for the period of 199901201312 by using johansen cointegration test and vector error correction model of experiments from the study revealing the presence of a short and longterm causality moving from the risk of premiums in question to financial insurance prices in the insurance list of the positive effect of the financial resolutions of the taxation of the positive effect of the financial influences of the positive effect of the financial consequences of foreign exchange in the insurance of the insurance of the insurance trade prices in the insurance trade prices in the insurance trade prices in the positive results in the positive results in the positive results in the insurance trade prices in the insurance of the positive effect of the insurance trade prices in the positive effect of the positive effect of the insurance trade prices
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