The Impact of Petrol Prices on Stock Prices of Energy Companies: A Panel Data Analysis for Turkey
Nur Dilbaz Alacahan () and
Seda Yavuzaslan Soylemez
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Nur Dilbaz Alacahan: Canakkale Onsekiz Mart University, Department of Banking and Finance
Seda Yavuzaslan Soylemez: Canakkale Onsekiz Mart University, Department of Accounting and Tax
No 17006, EconWorld Working Papers from WERI-World Economic Research Institute
The aim of this paper is to analyze the impact of petrol prices on the stock prices of energy companies traded in Istanbul Stock Exchange. To achieve this objective, daily panel data for 9 energy companies are examined for the period between 01/02/2008 and 02/26/2016. For the estimations, random effects and fixed effects panel data estimation methods are used. According to the results, changes in petrol prices effects stock prices of energy companies, negatively. Interest rates and M2 money supply affect stock prices of the energy companies, negatively. In addition to the macro variables, ROA and capital growth are the micro variables affecting stock prices of energy companies.
Keywords: Petrol Prices; Stock Prices; Panel Data Analysis; Turkey (search for similar items in EconPapers)
JEL-codes: E44 G12 L96 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-ara, nep-cwa, nep-ene and nep-mac
Date: 2017-10, Revised 2017-10
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Persistent link: https://EconPapers.repec.org/RePEc:ana:wpaper:17006
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