Today, participation economies volume and products tend to grow and diversify. One of the most important investment tools in the participatory economic system is the participation indices and the shares in its body. The aim of this study is to evaluate the weak form informational efficiency of Islamic indices in Turkey. Within this framework of purpose, first-degree autocorrelation analyses were carried out with 1-year moving windows using weekly values of Katılım 50, Katılım 30, and Model Portfolio indices between 14.02.2014-02.03.2020. As a result of the analyses, it was reached that Islamic indices in Turkey have weak form informational efficiency generally although there are deviations from weak form informational efficiency on certain dates and weak form informational efficiency changes over time. These results reveal that investors who want to invest in the Katılım 50, Katılım 30, and Model Portfolio indices can estimate their values at certain dates by using the historical values of the indices and thus can provide abnormal returns.
Weak Form Informational Efficiency Autocorrelation Efficient Markets Hypothesis Islamic Index
Primary Language | Turkish |
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Journal Section | Articles |
Authors | |
Publication Date | December 28, 2020 |
Submission Date | March 7, 2020 |
Published in Issue | Year 2020 Volume: 38 Issue: 4 |
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