Author/Authors :
TOPUZ, Yusuf Volkan Abant İzzet Baysal Üniversitesi - İktisadi ve İdari Bilimler Fakültesi - İşletme Bölümü, Turkey
Title Of Article :
THE CAUSALITY RELATION BETWEEN CONSUMER CONFIDENCE AND STOCK PRICES: CASE OF TURKEY
Abstract :
In this study, the causality relation between consumer confidence and stock price is discussed. This study is based on the assumption of potential bi-directional casuality which is from stock prices towards consumer confidence as there might also be causality from consumer confidence towards stock prices. To this end, in this study the causality relation between consumer confidence index and ISE-100 index during the terms of 2004:01-2009:01 is examined by using Granger Causality test. One-direction causality from stock prices towards consumer confidence is identified as a result of the tests run by taking into account different lag lengths.
NaturalLanguageKeyword :
Consumer confidence , stock prices , Granger causality test
JournalTitle :
The International Journal Of Economic and Social Research
