TY  - EJOU
AU  - 
T1  - Global Energy Prices and the Behavior of Energy Stock Price Fluctuations
T2  - 

PY  - 2013
VL  - 3
IS  - 11
SN  - 

AB  - This study investigates the impact of global crude oil and global natural gas prices on the stocks price movements of the energy companies using multivariate regression and impulse response function analysis. Our data sets consist of global crude oil prices, global natural gas prices, stock market index and the stock prices of selected energy companies operating in Turkey. Our findings imply that, (a) market index is the most important factor in energy stock price movements, (b) a shock in the market index gives permanent positive impact on the energy stock price while, global crude oil and global natural gas prices give positive impact for one year and negative impact after one year.
KW  - Energy stock prices
KW  - Market model
KW  - Impulse response function
DO  -