BIST100 Endeksinde İşlem Hacmi ve İşlem Miktarında Hava Durumu Anomalisi

Year 2019, Volume: 23 Issue: 4, 1459 - 1469, 31.12.2019

Sezen Güngör , Nihan Tomris Küçün

Abstract

Neo-klasik iktisadın üzerinde durduğu
noktalardan birisi, klasik iktisattan ödünç aldığı bireyin rasyonelliği
ilkesidir. Bu ilke ile insanların acı ve zevklerinde, farklı malların kendisine
sağladığı faydanın ölçülmesinde ve gelecek ihtiyaçlarının ayarlanmasında
rasyonel olduğu kabul edilmiştir. Ancak hisse senedi borsalarında görülen
piyasa anomalileri insanın rasyonelliğine dair beyan edilen bu ilkenin
sorgulanmasına neden olmuştur. Bireysel yatırımcı davranışını etkileyen
sebepler ve bu sebeplerin sonucu olarak karşımıza çıkan piyasa anomalileri
farklı araştırmacılar tarafından farklı şekillerde açıklanmaya çalışılmıştır.
Bu çalışmalar davranışsal finans kavramını literatüre katmıştır. Ancak piyasa
etkinliğinin bozulmasına sebep olan faktörlerden bazıları insan davranışlarını
etkileyen faktörlere kadar araştırılması gerekmektedir. Bu faktörlerden en
bilineni hava durumu koşullarıdır. Bu çalışmada BIST100 endeksinde Şubat 2011
ile Eylül 2015 tarihleri arasında gerçekleşen işlem hacmi ve işlem miktarı ile
hava durumu koşulları ele alınmıştır. Çalışmanın analizleri öncelikle, güneşli,
bulutlu, yağmurlu, karlı şeklinde sınıflandırmada hava durumu koşulları
bakımından işlem hacmi ve işlem miktarlarının ortalamaları arasında anlamlı bir
fark olup olmadığını tespiti için SPSS 22.0 paket programı ile yapılacaktır.

Keywords

Hava durumu anomalisi, BIST100 işlem hacmi, BIST100 işlem miktarı, Yatırımcı Davranışı

Trading Size and Trading Volume in BIST100 Index and Weather Anomaly

Abstract

One of the points of neoclassical
economics is the rationality of the individual which is borrowed from classical
economics. With this principle, it has been assumed that people are rational in
their suffering, pleasure, perceived benefit and planning of future needs.
However, market anomalies in the stock market have led to the questioning of
this principle which advocates human rationality. The reasons that affect
individual investor behavior and the resulting market anomalies have been tried
to be explained by researchers in different ways. These studies have included
the concept of behavioral finance in the literature. In order to understand the
factors that lead to the deterioration of market efficiency, it is necessary to
examine the factors affecting human behavior. One of the most common of these
factors is the weather conditions. In this study, trading volume and trading
size and weather conditions in BIST100 index between February 2011 and
September 2015 were considered. For the analysis of the work, weather
conditions will be classified as sunny, cloudy, rainy, and snowy. Afterwards,
SPSS 22.0 program will be used to determine whether there is a meaningful
difference between the average of transaction volume and transaction amounts.

Keywords

Weather Anomalies, Decision Making, BIST100, Investor Behavior

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