TY  - JOUR
TT  - THE RELATIONSHIP BETWEEN CORPORATE GOVERNANCE AND STOCK RETURNS
AU  - Gümüş, Gülüzar Kurt
AU  - Güngör, Bener
AU  - Gümüş, Yusuf
PY  - 2016
DA  - July
JF  - Dumlupınar Üniversitesi Sosyal Bilimler Dergisi
PB  - Kütahya Dumlupınar Üniversitesi
WT  - DergiPark
SN  - 1302-1842
SP  - 124
EP  - 143
IS  - 49
KW  - Borsa İstanbul
KW  - kurumsal yönetim
KW  - hisse senedi getirisi
N2  - This study investigates the relationship between corporate governanceand stock returns both at index and firm-level for the period between 2007 and2013. The index-level analysis focuses on the long-run relationship betweenBorsa İstanbul Corporate Governance Index and Borsa İstanbul 100 Index. The firm-levelanalysis examines the effect of corporate governance ratings on stock returns.The firm-level analysis includes twelve companies which have been listed on CorporateGovernance Index from 2007 till 2013. The index-level analysis employs co-integrationanalysis, while the firm-level analysis calculates cumulative abnormal returns.The results indicate that there is a long-run index-level relationship and alsocorporate governance rating announcements have an effect on stock returns.
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UR  - https://dergipark.org.tr/tr/pub/dpusbe/issue//282444
L1  - https://dergipark.org.tr/tr/download/article-file/264308
ER  -