The Role of Global Volatility Indices and Domestic Economic Factors on Investor Risk Appetite in Türkiye

Risk appetite refers to investors propensity to take risks and is directly affected by changes in macroeconomic conditions. Risk appetite is expected to decrease as financial difficulties increase during periods of economic recession and contraction, whereas it is expected to increase during favorable economic conditions. This study analyzes the impact of the gold volatility index (GVZ), crude oil volatility index (OVX), and Chicago Futures Exchange Volatility Index (VIX) (also known as global r