DOIONLINE

DOIONLINE NO - IJMAS-IRAJ-DOIONLNE-6255

Publish In
International Journal of Management and Applied Science (IJMAS)-IJMAS
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Volume Issue
Issue
Volume-2,Issue-11  ( Nov, 2016 )
Paper Title
Testing of the Relationship Between Metal Prices and Stock Prices Through Granger Causality Analysis: An Application in Borsa Istanbul
Author Name
Melek Acar, Fatih Guzel, Ramazan Aktas
Affilition
Selçuk University, Faculty of Economics and Administrative Sciences, Department of Business Administration, Campus 42031, Konya, Turkey TOBB University of Economics and Technology Söğütözü Caddesi No: 43, Söğütözü, 06560, Ankara, Turkey
Pages
19-24
Abstract
This study was conducted to determine the relationship between metal prices and stock prices. To this end, the interaction between the prices of gold, copper and silver and the stock prices of mining companies quoted on Borsa Istanbul was investigated. December 2014-May 2016 dollar-based data set was used in the study. Granger causality test was used to analyze the relationship between metal prices and stock prices. According to the findings obtained, a causality relationship was identified from copper prices towards stock prices. However, no such causality correlation could be found from the other metal prices towards stock prices. Keywords- Metal prices, Mining stocks, Granger causality analysis, Borsa Istanbul
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