TY  - JOUR
TT  - PREDICTING STOCK RETURNS USING FUNDAMENTAL INFORMATION AND  MULTIVARIATE STATISTICAL MODELLING: AN EMPIRICAL STUDY ON ISTANBUL STOCK   EXCHANGE
AU  - Aktaş, Ramazan
AU  - Karan, Mehmet Baha
PY  - 2000
DA  - December
JF  - Hacettepe Üniversitesi İktisadi ve İdari Bilimler Fakültesi Dergisi
PB  - Hacettepe Üniversitesi
WT  - DergiPark
SN  - 1301-8752
SP  - 433
EP  - 450
VL  - 18
IS  - 2
KW  - Fnancial statement analysis
KW  - logit model
KW  - prediction of stock perfonnance
N2  - Thispaper performs a financial analysis that combines a set of fundamentalinformation into a summarv measure which predicts the return ofstocks bv usin2 logit analysis, The findings suggest that the predictivepower of financial ratios is verv high and more important than the fundamentalinformation. but the variables (ratios) of logit models are not stablefrom one period to another. Also it is found that there is a statistically significantcorrelation benveen the observed and predictedranking. We conclude that developing a more general model for prediction mightsolve the problem about unstable variables, but the generalmodel has verv limited ability of ranking the stocks according to theirperfonnance.
CR  - Ağaoğlu, E. A. (1989) Türkiye' de Banka İşletmelerinin Ekonomik Analizi ve Gelişme Eğilimleri. Unpublished Ph.D. Thesis. Ankara.
UR  - https://dergipark.org.tr/tr/pub/huniibf/issue//327792
L1  - https://dergipark.org.tr/tr/download/article-file/323842
ER  -