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- 2018
TEST?NG OF BIST REIT INDEKS RETURN BY CAPM AND IMPULSE RESPONSE ANALYSISKeywords: Gayrimenkul Yat?r?m Ortakl?klar? Performans?,Sermaye Varl?klar? Fiyatlama Modeli,Vekt?r Otoregresif Modeller,GYO Endeks,Getiri Analizi Abstract: The use of The Real Estate Investments Trusts (REIT) in Turkey started after the 1990s and has gained momentum since 2000s. In this study between January 2003 and December 2017 was choosen as the testing period. The association between REIT and BIST 100 index with Capital Assets Pricing Model was analyzed and positive relation were found. The relation of the REIT index with other macro variables was analyzed by the VAR method. According to the results of this measurement, including the BIST 100 index and the inflation rates, the REIT index gives a positive first response to shock at BIST 100 in the second month, entering the balance level in the third month. The possible shocks in the inflation rates and the REI index response are not statistically significant
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