Abstract
The aim of this study is to investigate the effect of oil price, US Dollar rate and VIX on Borsa Istanbul by employing quantile regression model. In the literature, there are studies that examine the effect of the mentioned factors on stock market, but the number of studies in which these factors are used together and the quantile regression approach is used is not enough. This is the motivation source of the study. In this context it is examined that how and in which quantiles the mentioned global factors influence the stocks market in Turkey. The quantile regression approach allows the observation of the dynamic relations. This information will help investors who will invest in BIST in investing strategies. The results of the study show that BIST index is significantly affected by volatility index in all quantiles. On the other hand, the dollar was impacted on the BIST index only in high quantiles. The stock market effect of oil prices indicates that there is not an asymmetric relationship between two variables, only meaningful in middle quantile.
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