a ISBN 978--3--659-12293--4

a Original cataloging agency NEU GrandLibrary

a Language code of text/sound track or separate title eng

a Classification number HG173

b Item number .M33 2012

a Personal name Günsel, Nil.

h Medium Electronic Document

a Title Macroeconomic Factors and Stock Returns: Evidence from Istanbul Stock Exchange

c Statement of responsibility, etc Nil Günsel, Hüsam Rjoub, Turgut Türsoy

c Date of publication, distribution, etc 2012.

b Name of publisher, distributor, etc Lambert Academic Publishing,

a General note https://www.researchgate.net/publication/235698715_Macroeconomic_Factors_and_Stock_Return_Evidence_From_Istanbul_Stock_Exchange%27ISE

a Summary, etc The CAPM (Capital Asset Pricing Model) and the APT (Arbitrage Pricing Theory) are two equilibrium assets pricing model which help us to determine the price for risky assets in equilibrium. The CAPM predict about how to measure risk and relation between the expected return and risk. On the other hand, APT provides an alternative way to determine the expected return on risky securities through the developed model of Ross (1976). The combined work of Chen, Roll and Ross (1986) which explain the effects of macro variables on the stock returns (stock returns may be generated according to the macroeconomic variables). This study developed and investigated the effects of macroeconomic variables on pricing stock return on Istanbul Stock Exchange (ISE). Also, this study developed six prespecified macroeconomic variables which are: the term structure of interest rate, unanticipated inflation, risk premium, exchange rate, and money supply. They are the same as those used by Chen, Roll and Ross (1986) for the US market. In this study the researcher added one more variable through the analysis test for the portfolios it shows that there were differences among each portfolio. In this study the explanatory power of the independent variables represented by R2 which is too low in the result which found. over the portfolio return in our case study (ISE) Turkey.

a Topical term or geographic name as entry element Near East University Article

a Topical term or geographic name as entry element Yakın Doğu Üniversitesi Makale

a Topical term or geographic name as entry element Microeconomics

a Topical term or geographic name as entry element Macroeconomics

a Topical term or geographic name as entry element Stock-Exchange

a Topical term or geographic name as entry element Istanbul stock exchange

g Relationship information 2012.

z International Standard Book Number 9783659122934

u Uniform Resource Identifier http://library.neu.edu.tr:2048/login?url=http://dx.doi.org/10.13140/2.1.4252.2561