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GELİŞMEKTE OLAN HİSSE SENEDİ PİYASALARINDAKİ DEĞİŞKENLİĞE YABANCI YATIRIMLARIN ETKİSİ

THE EFFECT OF FOREIGN INVESTMENTS ON THE VOLATILITY OF EMERGING STOCK MARKETS

Journal Name:

  • Zonguldak Karaelmas Üniversitesi Sosyal Bilimler Dergisi

Publication Year:

  • 2006

Key Words:

Keywords (Original Language):

Author NameUniversity of AuthorFaculty of Author
Abstract (2. Language): 
Foreign investors play an important role in emerging stock markets. When the economic or financial crisis begins in one of the emerging markets, foreign investors react immediately and selI the stocks not only in that country, but also in other emerging markets simultaneously. This causes all the emerging stock markets to spiral down and increases the volatility and foreign currency reserve problem. As a result, foreign investors view emerging market investments as different assets class and make comparison to each other, and not by comparing each market to the world portfolio.
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Abstract (Original Language): 
Yabancı yatırımcılar gelişmekte olan hisse senedi piyasalarında önemli rol oynamaktadırlar. Herhangi bir gelişmekte olan piyasada ekonomik veya finansal kriz başladığında, yabancı yatırımcılar çok hızlı reaksiyon göstererek sadece krizin çıktığı ülkede değil, diğer tüm gelişmekte olan ülkelerde de eşanlı olarak hisse senedi satışı yapmaktadırlar. Bunun sonucunda gelişmekte olan borsalarda önemli ölçüde düşüşler yaşanmakta, değişkenlik ve risklilik artmakta, satış sonrası yabancı yatırımcılar fonlarını çekip kendi ülkelerine götürmeleri döviz rezervi problemi de yaratabilmektedir. Sonuç olarak, yabancı yatırımcılar gelişmekte olan piyasaları ayrı bir finansal varlık olarak değerlendirmekte ve gelişmekte olan piyasaları kendi içinde değerlendirmekte, her bir gelişmekte olan piyasayı global portföy ile karşılaştırmamaktadırlar.
FULL TEXT (PDF): 
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  • 3
15-40
  • English

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