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Investigation for the Role of Oil and Natural Gas in the BIST Sector Indexes in Turkey

Investigation for the Role of Oil and Natural Gas in the BIST Sector Indexes in Turkey

Uğur Uzun, Zafer Adalı
Copyright: © 2021 |Pages: 22
ISBN13: 9781799883357|ISBN10: 1799883353|ISBN13 Softcover: 9781799883364|EISBN13: 9781799883371
DOI: 10.4018/978-1-7998-8335-7.ch016
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MLA

Uzun, Uğur, and Zafer Adalı. "Investigation for the Role of Oil and Natural Gas in the BIST Sector Indexes in Turkey." Handbook of Research on Strategic Management for Current Energy Investments, edited by Serhat Yüksel and Hasan Dinçer, IGI Global, 2021, pp. 262-283. https://doi.org/10.4018/978-1-7998-8335-7.ch016

APA

Uzun, U. & Adalı, Z. (2021). Investigation for the Role of Oil and Natural Gas in the BIST Sector Indexes in Turkey. In S. Yüksel & H. Dinçer (Eds.), Handbook of Research on Strategic Management for Current Energy Investments (pp. 262-283). IGI Global. https://doi.org/10.4018/978-1-7998-8335-7.ch016

Chicago

Uzun, Uğur, and Zafer Adalı. "Investigation for the Role of Oil and Natural Gas in the BIST Sector Indexes in Turkey." In Handbook of Research on Strategic Management for Current Energy Investments, edited by Serhat Yüksel and Hasan Dinçer, 262-283. Hershey, PA: IGI Global, 2021. https://doi.org/10.4018/978-1-7998-8335-7.ch016

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Abstract

In this chapter, the authors aim to investigate the association between the primary energy sources' prices involving oil and natural gas and sectors indices operating the Turkey stock market for the period covering 2012M1-2021M3. Regarding energy price indicators, Brent oil and natural gas real-time future prices are preferred in the models, and BIST Industrials (XUSIN), BIST Chem-Petrol Plastic (XKMYA), and BIST Electricity (XELKT) indices are used as financial performance indicators. Fourier unit root tests improved by Becker et al. and Fourier co-integration tests improved by Tsong et al. are employed to investigate the relationship between considered variables. As a result of the models, it is found that the energy prices and financial performance index do not move together in the long run; in other words, change in oil and natural gas prices seem not to have an impact on the sector indexes.

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