Dünya Borsaları Arası Etkileşimin Sosyal Ağ Analizi İle İncelenmesi1 (Examination The Interaction Among World Stock Markets Through The Social Network Analysis)

Abstract

Purpose – This study aims to make useful inferences for related researchers and to guide for investors by examining the interactions between the stock markets of various countries by the year 2018. Design/methodology/approach - In the study, the closing index values of the stock markets were used, and the relationships among them were analysed through the social network analysis method. Social network analysis which includes a visual tool is a powerful method that is used to examine relationships between units, to define and interpret connections. Findings – As a result of the analysis, it was found that the US (NYSE), Austria, Germany, Belgium, France, Euronext100, and Australia stock exchanges were the most important exchanges, because they have the most positive interaction with the others. The most important ones among those who have negative relationship with each other are Brazil, Russia, Argentina, India and Indonesia stock exchanges. Besides, the country whose stock exchange moves the most independently is Turkey. According to the findings, Turkey moves fully independent of especially the Netherlands, Belgium, the UK (FTSE100 and FTSE250), Canada, Japan, Finland and the United States (DJ and SP500). Discussion – According to t he f indings, i t is s een that most of t he s tock markets m ove in the same direction each other, so they move with herd rule. Therefore, investors have limited options for creating stock portfolios.