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Yapılan İhracat Bağlantılarının İlgili Firmaların Hisse Senedi Getirileri Üzerindeki Etkisinin Olay Etüdü İle İncelenmesi: İstanbul Menkul Kıymetler Borsası’ndaki Bazı Firmalar Üzerine Bir Uygulama

Year 2007, Issue: 36, 144 - 154, 01.10.2007

Yusuf Kaderli

Abstract

Etkin piyasalar hipotezine göre, bir hisse senedi piyasasının “yarı güçlü formda etkin” olduğunu söyleyebilmek için, hem geçmiş fiyat hareketlerinden yararlanılarak hem de kamuya açıklanan firmalara özel bilgilerin yardımıyla anormal getiriler elde edilmemesi gerekir. Bu çalışmanın amacı, İMKB’de işlem gören firmaların yapmış oldukları ihracat bağlantılarının kamuya açıklanmasının ardından o firmaların hisse senetlerinin bu açıklamadan nasıl etkilendiğinin olay etüdü ile incelenmesi ve bu sayede piyasanın yarı güçlü formda etkinliğinin test edilmesidir. Bu çalışma sonucunda elde edilen bulgular, ülkemiz piyasasının henüz yarı güçlü formda dahi etkin olmadığını ve piyasada kamuya açıklanan özel bilgilerden yararlanılarak anormal getiriler elde etmenin mümkün olduğunu göstermektedir.

Keywords

Olay etüdü etkin piyasalar hipotezi kümülatif anormal getiri.

To Evaluate Effects of Firms’ Export Connection Announcement on the Firms’ Stock Market Prices by Using Event Study: An Application on Firms that Quoted İMKB)

Year 2007, Issue: 36, 144 - 154, 01.10.2007

Yusuf Kaderli

Abstract

According to Efficient Market Hypothesis, to say for a stock market to be “semi-strong form efficient”, we need to utilize both past prices movements of the stocks and private information announced to public about the firms in the market, whether the firms received abnormal returns. The purpose of this study is to investigate whether after firms’, quoted İMKB, export connection announcements have influence on firms’ stock prices by event study method and hence to test market’s semi-strong efficiency. The results indicates that even in semi strong form, our country‘s stock market is not working efficiently and it is possible to obtain abnormal returns from the private information announced to the public

Keywords

Event study efficient market hypothesis cumulative abnormal return

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Details

Other ID JA26HZ32BY
Journal Section Research Article
Authors

Yusuf Kaderli This is me

Publication Date October 1, 2007
Submission Date October 1, 2007
Published in Issue Year 2007 Issue: 36

Cite

APA Kaderli, Y. (2007). To Evaluate Effects of Firms’ Export Connection Announcement on the Firms’ Stock Market Prices by Using Event Study: An Application on Firms that Quoted İMKB). The Journal of Accounting and Finance(36), 144-154.
AMA Kaderli Y. To Evaluate Effects of Firms’ Export Connection Announcement on the Firms’ Stock Market Prices by Using Event Study: An Application on Firms that Quoted İMKB). The Journal of Accounting and Finance. October 2007;(36):144-154.
Chicago Kaderli, Yusuf. “To Evaluate Effects of Firms’ Export Connection Announcement on the Firms’ Stock Market Prices by Using Event Study: An Application on Firms That Quoted İMKB)”. The Journal of Accounting and Finance, no. 36 (October 2007): 144-54.
EndNote Kaderli Y (October 1, 2007) To Evaluate Effects of Firms’ Export Connection Announcement on the Firms’ Stock Market Prices by Using Event Study: An Application on Firms that Quoted İMKB). The Journal of Accounting and Finance 36 144–154.
IEEE Y. Kaderli, “To Evaluate Effects of Firms’ Export Connection Announcement on the Firms’ Stock Market Prices by Using Event Study: An Application on Firms that Quoted İMKB)”, The Journal of Accounting and Finance, no. 36, pp. 144–154, October 2007.
ISNAD Kaderli, Yusuf. “To Evaluate Effects of Firms’ Export Connection Announcement on the Firms’ Stock Market Prices by Using Event Study: An Application on Firms That Quoted İMKB)”. The Journal of Accounting and Finance 36 (October 2007), 144-154.
JAMA Kaderli Y. To Evaluate Effects of Firms’ Export Connection Announcement on the Firms’ Stock Market Prices by Using Event Study: An Application on Firms that Quoted İMKB). The Journal of Accounting and Finance. 2007;:144–154.
MLA Kaderli, Yusuf. “To Evaluate Effects of Firms’ Export Connection Announcement on the Firms’ Stock Market Prices by Using Event Study: An Application on Firms That Quoted İMKB)”. The Journal of Accounting and Finance, no. 36, 2007, pp. 144-5.
Vancouver Kaderli Y. To Evaluate Effects of Firms’ Export Connection Announcement on the Firms’ Stock Market Prices by Using Event Study: An Application on Firms that Quoted İMKB). The Journal of Accounting and Finance. 2007(36):144-5.