The relationship between stock returns and inflation in Turkey 1987-1993

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buir.advisorMuradoğlu, Gülnur
dc.contributor.authorTüzün, Osman N.
dc.date.accessioned2016-01-08T20:11:23Z
dc.date.available2016-01-08T20:11:23Z
dc.date.issued1994
dc.departmentDepartment of Managementen_US
dc.descriptionAnkara : The Department of Management and The Graduate School of Business Administration of Bilkent Univ., 1994.en_US
dc.descriptionThesis (Master's) -- Bilkent University, 1994.en_US
dc.descriptionIncludes bibliographical references.en_US
dc.description.abstract■L'ljis study investigates the existence of a negative relationship between real stock returns and inflation, which is observed in other industrialized countries, and a possible explanation for this relationship, in Turkey. This relationship between stock returns and inflation is tested in the light of Kama's "Proxy Effect Hypothesis". This hypothesis suggest that the negative relation between stock returns and inflation is in fact proxying for a more fundamental relationship between real stock returns and real activity. The empirical investigation of the data revealed that the there is a significant negative relationship between forecasts of real activity and inflation. Also the results suggest that there is a positive, although insignificant, relationship between real stock returns and real activity. These two results can be combined to state that the "Proxy Effect Hypothesis" also holds for Turkey.en_US
dc.description.degreeM.B.Aen_US
dc.description.statementofresponsibilityTüzün, Osman Nen_US
dc.format.extentiv, 31 leavesen_US
dc.identifier.itemidBILKUTUPB041197
dc.identifier.urihttp://hdl.handle.net/11693/17557
dc.language.isoEnglishen_US
dc.publisherBilkent Universityen_US
dc.rightsinfo:eu-repo/semantics/openAccessen_US
dc.subjectExpected Inflationen_US
dc.subjectUnexpected Inflationen_US
dc.subjectStock Returnsen_US
dc.subjectReal and Nominal Returnen_US
dc.subjectReal Activity Growth Rateen_US
dc.subjectBase Money Growth Rateen_US
dc.subject.lccHG5706.5.A3 T89 1994en_US
dc.subject.lcshStock certificates--Turkey.en_US
dc.subject.lcshBonds--Turkey.en_US
dc.subject.lcshInflation (Finance)--Turkey.en_US
dc.titleThe relationship between stock returns and inflation in Turkey 1987-1993en_US
dc.typeThesisen_US
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