Analysis of the Relationship between the Highest Price and the Trading Volume of the Energy Company Shares in Kazakhstan with Frequency Domain Causality Method


Abstract views: 265 / PDF downloads: 309

Authors

  • Tazhikul Mashirova M.Auezov South Kazakhstan University, Shymkent, Kazakhstan
  • Karlygash Tastanbekova International Taraz innovative institute named after Sherhan Murtaza, Taraz, Kazakhstan
  • Murat Nurgabylov International Taraz innovative institute named after Sherhan Murtaza, Taraz, Kazakhstan
  • Gulnar Lukhmanova Zhetysu University named after I. Zhansugurov, Taldykorgan, Kazakhstan
  • Kundyz Myrzabekkyzy Khoja Akhmet Yassawi International Kazakh-Turkish University, Turkestan, Kazakhstan

DOI:

https://doi.org/10.32479/ijeep.14353

Keywords:

Kazakhstan, KASE, Energy, Share Index, Transaction Volume, Price Formation, Granger Causality.

Abstract

This study analyzes the causal relationship between the highest price formation and trading volume in Energy Company stocks traded on KASE. In addition, Granger causality analysis is strengthened with frequency domain causality analysis to determine the concentration points of the causality relationship. This aspect provides vital decision support, especially in investment decisions. Three different relationships are identified for the causality between the highest price formation and the transaction volume. There is a two-way causality relationship for KEGC and a one-way for KZTO. No causal relationship was found for KZAP. These results can be interpreted as an indication that the Kazakhstan stock market offers a rich portfolio for investors. The causality structure of the investment climate in Kazakhstan can be analyzed by similar studies on the composite index and other companies traded in KASE. The time interval of the study was determined as between 01.01.2021 and 31.01.2023 and the data used were retrieved from the investing.com website.

Downloads

Download data is not yet available.

Downloads

Published

2023-07-09

How to Cite

Mashirova, T., Tastanbekova, K., Nurgabylov, M., Lukhmanova, G., & Myrzabekkyzy, K. (2023). Analysis of the Relationship between the Highest Price and the Trading Volume of the Energy Company Shares in Kazakhstan with Frequency Domain Causality Method. International Journal of Energy Economics and Policy, 13(4), 22–27. https://doi.org/10.32479/ijeep.14353

Issue

Section

Articles

Most read articles by the same author(s)

1 2 > >>