An analysis of the price dynamics between the Turkish and the international paintings markets

Basit Öğe Kaydı
dc.authorscopusid9533180500
dc.authorscopusid25228166600
dc.contributor.authorAtukeren, E.
dc.contributor.authorSeçkin, A.
dc.date.accessioned2024-07-18T20:16:57Z
dc.date.available2024-07-18T20:16:57Z
dc.date.issued2009
dc.description.abstractWe examine the dynamics of the relationships between the prices in Turkish paintings auctions and international art markets during 1990-2005 using cointegration and Granger-causality tests. We also estimate the Capital Asset Pricing Model (CAPM) relationship between the Turkish and the global paintings markets. In our investigations, we employ a hedonic price index based on 1030 paintings by 13 Turkish painters and the global paintings market index as calculated by Artprice©. We find that the prices in the Turkish paintings market move in line with the international art markets in the long term. As expected, the direction of causality runs unilaterally from the international paintings market to the Turkish paintings market. The CAPM beta values were found to be unstable over time and not statistically significant at conventional levels. Hence, international art investors might be able to benefit from the higher returns in the Turkish paintings market while diversifying their art portfolios, especially in the short term. © 2009 Taylor & Francis.en_US
dc.identifier.doi10.1080/09603100903018737
dc.identifier.endpage1714en_US
dc.identifier.issn0960-3107
dc.identifier.issue21en_US
dc.identifier.scopus2-s2.0-70350773993en_US
dc.identifier.scopusqualityN/Aen_US
dc.identifier.startpage1705en_US
dc.identifier.urihttps://doi.org/10.1080/09603100903018737
dc.identifier.urihttps://hdl.handle.net/11411/6333
dc.identifier.volume19en_US
dc.indekslendigikaynakScopusen_US
dc.language.isoenen_US
dc.relation.ispartofApplied Financial Economicsen_US
dc.relation.publicationcategoryMakale - Uluslararası Hakemli Dergi - Kurum Öğretim Elemanıen_US
dc.rightsinfo:eu-repo/semantics/closedAccessen_US
dc.subjectArten_US
dc.subjectCointegration Analysisen_US
dc.subjectGranger Causality Testen_US
dc.subjectHedonic Analysisen_US
dc.subjectİnvestmenten_US
dc.subjectPrice Dynamicsen_US
dc.subjectEurasiaen_US
dc.subjectTurkeyen_US
dc.titleAn analysis of the price dynamics between the Turkish and the international paintings marketsen_US
dc.typeArticleen_US

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