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THE RELATIONSHIP BETWEEN STOCK RETURNS AND FUNDAMENTAL VARIABLES: EVIDENCE FROM ISTANBUL STOCK EXCHANGE

Year 2003, Volume: 4 Issue: 1, - , 01.03.2003

M. Banu Durukan Pınar Evrim Mandacı

Abstract

The aim of the present stud, is to analyze the relationship between the stock returns of the firms listed on İstanbul Stock Exchange (ISE) and fundamental factors such as; the beta coefficient, Market Value/Book Value (MV/BV), Debt/Equity (D/E), Market Value of Equity (MVE), Price/Earning (P/E) and Sales/Price (S/P). In addition, the study analyzes the influence of the Jenuary effect on the relationship between fundamental factors and stock returns. The findings support the strengthening effect of jenuary on the relationship betweenstock returns and fundamental factors. Th indings of the study suggest that the beta coefficient, MVE, P/E and S/P ratios have higher explanatory power in explaining stock returns than the MV/BV and D/E ratios.

Keywords

Firm-Specific Factors January Effect Stock Market Returns

THE RELATIONSHIP BETWEEN STOCK RETURNS AND FUNDAMENTAL VARIABLES: EVIDENCE FROM ISTANBUL STOCK EXCHANGE

Year 2003, Volume: 4 Issue: 1, - , 01.03.2003

M. Banu Durukan Pınar Evrim Mandacı

Abstract

The aim of the present stud, is to analyze the relationship between the stock returns of the firms listed on İstanbul Stock Exchange (ISE) and fundamental factors such as; the beta coefficient, Market Value/Book Value (MV/BV), Debt/Equity (D/E), Market Value of Equity (MVE), Price/Earning (P/E) and Sales/Price (S/P). In addition, the study analyzes the influence of the Jenuary effect on the relationship between fundamental factors and stock returns. The findings support the strengthening effect of jenuary on the relationship betweenstock returns and fundamental factors. Th indings of the study suggest that the beta coefficient, MVE, P/E and S/P ratios have higher explanatory power in explaining stock returns than the MV/BV and D/E ratios.

Keywords

Firm-Specific Factors January Effect Stock Market Returns

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Details

Primary Language Turkish
Journal Section Articles
Authors

M. Banu Durukan This is me

Pınar Evrim Mandacı This is me

Publication Date March 1, 2003
Published in Issue Year 2003 Volume: 4 Issue: 1

Cite

APA Durukan, M. B., & Mandacı, P. E. (2003). THE RELATIONSHIP BETWEEN STOCK RETURNS AND FUNDAMENTAL VARIABLES: EVIDENCE FROM ISTANBUL STOCK EXCHANGE. Dokuz Eylül Üniversitesi İşletme Fakültesi Dergisi, 4(1).
AMA Durukan MB, Mandacı PE. THE RELATIONSHIP BETWEEN STOCK RETURNS AND FUNDAMENTAL VARIABLES: EVIDENCE FROM ISTANBUL STOCK EXCHANGE. Dokuz Eylül Üniversitesi İşletme Fakültesi Dergisi. March 2003;4(1).
Chicago Durukan, M. Banu, and Pınar Evrim Mandacı. “THE RELATIONSHIP BETWEEN STOCK RETURNS AND FUNDAMENTAL VARIABLES: EVIDENCE FROM ISTANBUL STOCK EXCHANGE”. Dokuz Eylül Üniversitesi İşletme Fakültesi Dergisi 4, no. 1 (March 2003).
EndNote Durukan MB, Mandacı PE (March 1, 2003) THE RELATIONSHIP BETWEEN STOCK RETURNS AND FUNDAMENTAL VARIABLES: EVIDENCE FROM ISTANBUL STOCK EXCHANGE. Dokuz Eylül Üniversitesi İşletme Fakültesi Dergisi 4 1
IEEE M. B. Durukan and P. E. Mandacı, “THE RELATIONSHIP BETWEEN STOCK RETURNS AND FUNDAMENTAL VARIABLES: EVIDENCE FROM ISTANBUL STOCK EXCHANGE”, Dokuz Eylül Üniversitesi İşletme Fakültesi Dergisi, vol. 4, no. 1, 2003.
ISNAD Durukan, M. Banu - Mandacı, Pınar Evrim. “THE RELATIONSHIP BETWEEN STOCK RETURNS AND FUNDAMENTAL VARIABLES: EVIDENCE FROM ISTANBUL STOCK EXCHANGE”. Dokuz Eylül Üniversitesi İşletme Fakültesi Dergisi 4/1 (March 2003).
JAMA Durukan MB, Mandacı PE. THE RELATIONSHIP BETWEEN STOCK RETURNS AND FUNDAMENTAL VARIABLES: EVIDENCE FROM ISTANBUL STOCK EXCHANGE. Dokuz Eylül Üniversitesi İşletme Fakültesi Dergisi. 2003;4.
MLA Durukan, M. Banu and Pınar Evrim Mandacı. “THE RELATIONSHIP BETWEEN STOCK RETURNS AND FUNDAMENTAL VARIABLES: EVIDENCE FROM ISTANBUL STOCK EXCHANGE”. Dokuz Eylül Üniversitesi İşletme Fakültesi Dergisi, vol. 4, no. 1, 2003.
Vancouver Durukan MB, Mandacı PE. THE RELATIONSHIP BETWEEN STOCK RETURNS AND FUNDAMENTAL VARIABLES: EVIDENCE FROM ISTANBUL STOCK EXCHANGE. Dokuz Eylül Üniversitesi İşletme Fakültesi Dergisi. 2003;4(1).

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