The determinants of stock prices: Evidence from the Turkish banking sector

Saldanlı A. , Aydın M., Bektaş H.

Theoretical and Applied Economics, vol.24, no.1, pp.181-188, 2017 (Refereed Journals of Other Institutions)

  • Publication Type: Article / Article
  • Volume: 24 Issue: 1
  • Publication Date: 2017
  • Title of Journal : Theoretical and Applied Economics
  • Page Numbers: pp.181-188


This study examines the causality relationship of the stock prices of 10 deposit banks

traded in Borsa Istanbul with industrial production index, exchange rates and money supply using

monthly observations and focusing on the period between June 2007 and October 2016. The panel

causality test is used to examine the causality relationship between variables. The analyses

showed that the industrial production index is not one of the determinants of the stock prices of the

banks examined.