The Effects of Market Interest Rate on Islamic Indices: A Heterogeneous Panel Data Analysis of Participation 30 Index Companies

Salih Ulev; Ülev, Salih; Mucahit Aydin; Aydın, Mücahit

dc.contributor.authors	Ulev, S; Aydin, M;
dc.date.accessioned	2020-01-17T11:38:49Z
dc.date.available	2020-01-17T11:38:49Z
dc.date.issued	2019
dc.identifier.citation	Ulev, S; Aydin, M; (2019). The Effects of Market Interest Rate on Islamic Indices: A Heterogeneous Panel Data Analysis of Participation 30 Index Companies. TURKISH JOURNAL OF ISLAMIC ECONOMICS-TUJISE, 6, 50-35
dc.identifier.issn	2587-2303
dc.identifier.uri	https://hdl.handle.net/20.500.12619/6843
dc.identifier.uri	https://doi.org/10.26414/A042
dc.description.abstract	The aim of this article is to investigate the influence of market interest rate on Participation 30 index companies. The interest rate of Turkish government bonds traded in the secondary market was used for representing market interest rate. The study uses a panel data of 41 Participation index companies from 2011 to 2017. Using LM bootstrap panel cointegration test, we obtained results showing that the market interest rate affects the stock prices of P30 index companies. This effect is negative for ALBRK, KONYA, BAGFS, KOZAL and PRKME, but positive for all other companies. The least affected company from market interest rate is TTKOM, while the most affected company is LOGO. Moreover, it is noteworthy that 5 of the 10 companies with the lowest long-run coefficient are operating in the construction-raw material industry.
dc.language	English
dc.publisher	RESEARCH CENTER ISLAMIC ECONOMICS-IKAM
dc.rights	info:eu-repo/semantics/openAccess
dc.rights.uri	http://creativecommons.org/licenses/by/4.0/
dc.subject	Business & Economics
dc.title	The Effects of Market Interest Rate on Islamic Indices: A Heterogeneous Panel Data Analysis of Participation 30 Index Companies
dc.type	Article
dc.identifier.volume	6
dc.identifier.startpage	35
dc.identifier.endpage	50
dc.contributor.department	Sakarya Üniversitesi/İslam Ekonomisi Ve Finansı Araştırma Ve Uygulama Merkezi
dc.contributor.saüauthor	Ülev, Salih
dc.contributor.saüauthor	Aydın, Mücahit
dc.relation.journal	TURKISH JOURNAL OF ISLAMIC ECONOMICS-TUJISE
dc.identifier.wos	WOS:000460151100002
dc.identifier.doi	10.26414/A042
dc.identifier.eissn	2587-232X
dc.contributor.author	Salih Ulev
dc.contributor.author	Ülev, Salih
dc.contributor.author	Mucahit Aydin
dc.contributor.author	Aydın, Mücahit