The Relationship between the Stock Price and the Energy Index: A Research on the Energy Company with the Highest Brand Value in Turkey

Nigar Huseynli and Bahman Huseynli
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Nigar Huseynli: Azerbaijan State University of Economics (UNEC), Baku, Azerbaijan; PhD candidate, Sakarya University, Sakarya, Turkey.
Bahman Huseynli: Azerbaijan State University of Economics (UNEC), Baku, Azerbaijan; State Employment Agency, Baku, Azerbaijan.

International Journal of Energy Economics and Policy, 2022, vol. 12, issue 6, 183-187

Abstract: The energy sector is one of the main drivers for the activity of other sectors. In this study, the causality between the BIST energy index values and the stock prices of Enerjisa, the energy company with the highest brand value in Turkey, in the period between January 2011 and June 2022, using the Granger causality test, was examined. Before proceeding to the Granger method, a series of necessary tests were carried out in accordance with the methodology, and appropriate lag lengths were determined. As a result of the study, a bilateral causality relationship was determined between the stock prices of Enerjisa company and the BIST energy index values. In other words, these variables become the Granger cause of each other.

Keywords: Stock price; Energy index; Brand value; Turkey (search for similar items in EconPapers)
JEL-codes: L16 O13 Q40 (search for similar items in EconPapers)
Date: 2022
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Persistent link: https://EconPapers.repec.org/RePEc:eco:journ2:2022-06-24

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