Testing the Relationship between Investor Risk Appetite and Country Risk: The Case of Turkey

Basit Öğe Kaydı
dc.contributor.authorKaya, Abdulkadir
dc.contributor.authorGulhan, Unal
dc.contributor.authorGungor, Bener
dc.date.accessioned2026-09-01T15:52:34Z
dc.date.available2026-09-01T15:52:34Z
dc.date.issued2026
dc.departmentBayburt Üniversitesi
dc.description.abstractCountry risk is an important factor affecting the risk appetite of investors who want to create an optimal portfolio by minimizing their risks. Investor risk appetite can affect country risk as a factor contributing to the development of financial markets and the country's economy. The aim of this study is to determine the relationship between investor risk appetite and country risk. Hatemi-J cointegration and Hatemi-J asymmetric causality tests were used to determine the relationship between CDS premium, which is frequently preferred to represent country risk, and domestic and foreign investor risk appetite variables. As a result of the analysis, it has been determined that CDS premium and domestic and foreign investor risk appetite variables are cointegrated, a positive causality from increases in both local and foreign investor risk appetite to CDS premium and a negative or positive causality from decreases in CDS variables to both local and foreign investor risk appetite.
dc.identifier.doi10.2298/PAN220824008K
dc.identifier.issn1452-595X
dc.identifier.issn2217-2386
dc.identifier.issue2
dc.identifier.scopus2-s2.0-105037932356
dc.identifier.scopusqualityQ2
dc.identifier.urihttp://dx.doi.org/10.2298/PAN220824008K
dc.identifier.urihttps://hdl.handle.net/20.500.12403/8466
dc.identifier.volume73
dc.identifier.wosWOS:001702453900006
dc.identifier.wosqualityQ3
dc.indekslendigikaynakWeb of Science
dc.indekslendigikaynakScopus
dc.language.isoen
dc.publisherSavez Ekonomista Vojvodine
dc.relation.ispartofPanoeconomicus
dc.relation.publicationcategoryMakale - Uluslararası Hakemli Dergi - Kurum Öğretim Elemanı
dc.rightsinfo:eu-repo/semantics/openAccess
dc.snmzKA_WOS_20260820
dc.subjectRisk
dc.subjectRisk Appetite
dc.subjectCds Premium
dc.subjectHatemi-J Cointegration
dc.subjectHatemi-J Asymmetric Causality
dc.titleTesting the Relationship between Investor Risk Appetite and Country Risk: The Case of Turkey
dc.typeArticle

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