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  • Stock Market and Investment...
    Feridun, Mete; Sawhney, Bansi; Jalil, Abdul

    Ekonomska istraživanja, 20/1/1/, Letnik: 22, Številka: 4
    Journal Article

    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.