Asymmetry and leverage effect of political risk on volatility: The case of BIST sub-sector
Asymmetry and leverage effect of political risk on volatility: The case of BIST sub-sector
Modelling volatility in financial asset prices is very important for investment decisions and risk management. It is known that, political risk has a negative effect on stock returns. Especially, markets in which political risk increased, investment decisions change based on the changes that occur in financial asset returns. On the other hand, investors react more to negative shocks than to positive shocks. In this context, for a healthy investment policy, it is very important to make decisions