Dynamics of the Turkish paintings market: A comprehensive empirical study

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dc.authoridDemir, Ender/0000-0003-4034-269X|Gozgor, Giray/0000-0003-1238-8105|SARI, Emre/0000-0001-9805-9227
dc.authorwosidDemir, Ender/J-8808-2017
dc.authorwosidGozgor, Giray/K-1372-2017
dc.authorwosidSARI, Emre/Y-4799-2019
dc.contributor.authorDemir, Ender
dc.contributor.authorGozgor, Giray
dc.contributor.authorSari, Emre
dc.date.accessioned2024-07-18T20:42:35Z
dc.date.available2024-07-18T20:42:35Z
dc.date.issued2018
dc.departmentİstanbul Bilgi Üniversitesien_US
dc.description.abstractThis paper constructs the most comprehensive paintings price index in Turkey by using 32,391 manually collected sales transactions, including artworks of 413 artists over the period 1990-2016. The results indicate that the Turkish paintings market underperforms the domestic stock market, but leading to the higher returns compared to the global paintings and the global stock markets. The results from the causality analysis also demonstrate that there is the feedback effect between the domestic paintings and the domestic stock market. Furthermore, the findings cannot reject the null hypothesis that there is no bubble in the Turkish Paintings price index. Finally, the geopolitical and the political risks in Turkey are among the main reasons for the diminishing returns of the Turkish paintings market after 2010.en_US
dc.description.sponsorshipScientific Research Projects Coordination Unit of Istanbul Medeniyet University [S-BAG-2016-888]en_US
dc.description.sponsorshipThis research (project number S-BAG-2016-888) was supported by the Scientific Research Projects Coordination Unit of Istanbul Medeniyet University and the authors would like to acknowledge their financial support. The authors also express their deepest gratitude to two anonymous reviewers for their valuable comments and suggestions that enhanced the merit of the paper. Special thanks also go to the Editors (Jonathan A. Batten and Douglas J. Cumming), who gave the authors the opportunity to revise the paper. The usual disclaimer applies.en_US
dc.identifier.doi10.1016/j.ememar.2018.04.007
dc.identifier.endpage194en_US
dc.identifier.issn1566-0141
dc.identifier.issn1873-6173
dc.identifier.scopus2-s2.0-85047207457en_US
dc.identifier.scopusqualityQ1en_US
dc.identifier.startpage180en_US
dc.identifier.urihttps://doi.org/10.1016/j.ememar.2018.04.007
dc.identifier.urihttps://hdl.handle.net/11411/7347
dc.identifier.volume36en_US
dc.identifier.wosWOS:000444667400012en_US
dc.identifier.wosqualityQ1en_US
dc.indekslendigikaynakWeb of Scienceen_US
dc.indekslendigikaynakScopusen_US
dc.language.isoenen_US
dc.publisherElsevier Science Bven_US
dc.relation.ispartofEmerging Markets Reviewen_US
dc.relation.publicationcategoryMakale - Uluslararası Hakemli Dergi - Kurum Öğretim Elemanıen_US
dc.rightsinfo:eu-repo/semantics/closedAccessen_US
dc.subjectTurkish Paintings Marketen_US
dc.subjectHedonic Regressionen_US
dc.subjectAsset Returnsen_US
dc.subjectAsset Price Bubbleen_US
dc.subjectPolitical Risksen_US
dc.subjectCausality Testen_US
dc.subjectFloating Crap Gameen_US
dc.subjectArt-Marketen_US
dc.subjectInvestmenten_US
dc.subjectBubblesen_US
dc.subjectPricesen_US
dc.subjectRegressionen_US
dc.titleDynamics of the Turkish paintings market: A comprehensive empirical studyen_US
dc.typeArticleen_US

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