YABANCI PORTFÖY YATIRIMLARININ BORSA ÜZERİNE ETKİSİ: TÜRKİYE ÖRNEĞİ.

The aim of this study was to investigate the foreign portfolio investments in Turkey whether the effect on BIST 100 Index. Investments in countries can be longterm and real investments as foreign direct investments, as well as short/long-term financial investments as foreign portfolio investments. Foreign direct investments to countries are not considered in this study. Only foreign portfolio investments made are taken into account. Portfolio investments represent investments in money and capital market instruments issued in the country to raise funds within the country. For this purpose, 57 quarters of 2005 Q4 - 2019 Q4 are discussed in the study. It is used as a variable in Turkey on foreign portfolio investments made and BIST 100 Index. Hatemi-J cointegration test and Hacker and Hatemi-J Bootstrap Toda-Yamomoto Causality Test were used as methods in the study. As a result of cointegration test, there is a cointegrated relationship between portfolio investments and BIST-100 index, As a result of the causality analysis, it is concluded that there is causality from portfolio investments to BIST-100 index and from BIST-100 Index to portfolio investments. [ABSTRACT FROM AUTHOR]