The Existence of an Anomaly in the City Indices in Borsa Istanbul
The aim of the study is to reveal the existence of an abnormal return in the city indices in Borsa Istanbul. Three important calculations were made for the detection of an abnormal return. The first was the calculation of adjusted returns. The second was the calculation of beta coefficients for city...
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| Veröffentlicht in: | International journal of corporate finance and accounting 2021-07, Vol.8 (2), p.12-27 |
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| creator | Altin, Hakan |
| description | The aim of the study is to reveal the existence of an abnormal return in the city indices in Borsa Istanbul. Three important calculations were made for the detection of an abnormal return. The first was the calculation of adjusted returns. The second was the calculation of beta coefficients for city indices. The third was the determination of the relationship of each city index to the market. According to the findings obtained, there was an abnormal return in the city indices. In other words, each of the city indices made a profit on market returns. However, these returns were almost equal to market returns. When the beta coefficients were analyzed, it was seen that the coefficients were equal to the theoretically-expressed average market beta coefficient. Thus, the city indices and the market are moving in the same direction, and the results are statistically significant. |
| doi_str_mv | 10.4018/IJCFA.2021070102 |
| format | Article |
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| source | ProQuest Central (Alumni Edition); ProQuest Central Korea; ProQuest Central UK/Ireland; ProQuest Central |
| subjects | Abnormal returns Accounting Bond ratings Capital assets Capital markets Corporate profits Earnings Efficient markets Hypotheses Interest rates Municipal bonds Prices Rates of return Risk premiums Securities markets Stock exchanges Treasury bills Volatility |
| title | The Existence of an Anomaly in the City Indices in Borsa Istanbul |
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