TY  - JOUR
TT  - An Empirical Investigation of the Overreaction in Stock Returns in the İstanbul Stock Exchange
AU  - Karan, Mehmet Baha
AU  - Tarım, Şahap Armağan
PY  - 2001
DA  - July
JF  - Hacettepe Üniversitesi İktisadi ve İdari Bilimler Fakültesi Dergisi
PB  - Hacettepe Üniversitesi
WT  - DergiPark
SN  - 1301-8752
SP  - 29
EP  - 46
VL  - 19
IS  - 1
KW  - Hisse senedi
KW  - İMKB
N2  - Overreactionhypothesis asserts that stocks with poor performance in the previous periodearn positive risk-adjusted abnormal returns in the subsequent period. Incontrast, stocks that perform better in the previous period earn negativerisk-adjusted abnormal returns in the subsequent period. The imposition of thedaily price limits is based upon the overreaction hypothesis, and its is assumedthat by means of the daily price limits the overrreaction is bounded and hencethe volatility is reduced. This paper tests the efficiency of the price limitsby examining the price behaviour following limit moves in the İstanbul StockExchange, where the price limits are in practice. 
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UR  - https://dergipark.org.tr/tr/pub/huniibf/issue//319033
L1  - https://dergipark.org.tr/tr/download/article-file/310815
ER  -