出版社:Juraj Dobrila University of Pula, Department of Economics and Tourism 'Dr. Mijo Mirkovic'
摘要:The objective of this paper is to investigate the causal effect of business investments on stock returns in Turkey for the period following the liberalization of capital flows (1987:01-2006:03). According to results of the cointegration tests and error correction model (ECM) causality is found to run from stock returns to business investments and not vice versa.