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Sermaye Piyasasında Sürü Davranışı: İMKB'de Piyasa Yönünde Sürü Davranışının Analizi

Yıl 2008, Cilt: 2 Sayı: 1, 27 - 58, 01.06.2008

Kaynakça

  • Buguk, C. ve Brorsen, B. W. (2003). Testing weak-form market efficiency: Evi- dence from the Istanbul Stock Exchange, International Review of Financial Analysis, 12:579-590.
  • Bulow, J., Geankoplos, J. ve Klemperer, P. (1985). Multimarket Oligopoly: Stra- tegic Substitutes and Complements, Journal of Political Economy,93 (3):488- 511.
  • Caparrelli, F., D’Arcangelis, A.M. ve Cassuto , A. (2004). Herding in the Italian Stock Market: A Case of Behavioral Finance, Journal of Behavioral Finance, 5: 222-230.
  • and Herding of Earnings Forecasts, RAND Journal of Economics, 31: 121-144.
  • Huang, B.N. (1995). Do Asian Stock Market Prices Follow Random Walks? Evi- dence from the Variance Ratio Test, Applied Financial Economics, 5:251-256.
  • Hwang, S. ve Salmon, M. (2001a). A New Measure of Herding and Empirical Evidence, CUBS Financial Econometrics working Paper No: WP01-3, http://ssrn.com/abstract=299919, (Eriflim tarihi: 05.03.2007 ).
  • Hwang, S. ve Salmon, M. (2001b). Market Stress and Herding, Journal of Em- pirical Finance, 11: 585-616.
  • Kahn, R.N. (2004). What Investors can Learn from a Very Alternative Market, Financial Analysts Journal, 60: 17-20.
  • Kahneman, D. ve Tversky, A. (1979). Prospect Theory: An Analysis of Decision Under Risk, Econometrica, 47: 263-291.
  • Kultti, K. ve Miettinen, P. (2006). Herding with Costly Information, Internatio- nal Game Theory Review, 8: 21-31.
  • Lakanishok, J., Shleifer, A. ve Vishny R.W. (1992). The Impact of Institutional Trading on Stock Prices, Journal of Financial Economics, 32: 23-43.
  • Lamont, O.A. (2002). Macroeconomic Forecasts and Microeconomic Forecas- ters, 48: 265-280.
  • Tan, Lin, Chiang, T.C., Mason J.R. ve Nelling E. (2008). Herding behavior in Chi- nese stock markets: An examination of A and B shares, Pacific-Basin Finance Jo- urnal, 16:61-77.
  • Löffler, G.. (1998). Biasis in Analysts Forecasts:Cognitive, Strategic or Second Best?, International Journal of Forecasting, 14: 261-275.
  • Morris, S. ve Shin, H.S. (1999). Risk Management with Interdepedent Choice, Oxford Review of Economic Policy, 15 (3): 52-62.
  • Park, A. ve Sabourian, H. (2006). Herd Behavior in Efficient Financial Markets, working paper, http://www.chass.utoronto.ca/~apark/papers/herding.pdf, (Eriflim tarihi: 05.03.2007 ).
  • Persaud, A. (2000). Sending the Herd off the Cliff Edge: The Disturbing Interac- tion between Herding and Market-Sensitive Risk Management Practices, in Jac- ques de Larosiere Essays on Global Finance, Washington: Institute of Interna- tional Finance.
  • Pons, J. (2003). Strategic Bias, Herding Behaviour and Economic Forecasts, Jo- urnal of Forecasting, 22: 67-77.
  • Prechter, R.R.(2001). Unconcscious Herding Behavior as the Psychological Basis of Financial Market Trends and Patterns, The Journal of Psychology and Finan- cial Markets, 2 (3): 120-125.
  • Prendergast, C. ve Stole, L. (1996). Impetuous Youngters and Jaded Old-Ti- mers: Acquiring a Reputation for Learning, Journal of Political Economy, 104 (6): 1105-1134.
  • Scharfstein, D. ve Stein, J. (1990). Herd Behavior and Investment, American Economic Review, 80: 465-479.
  • Shiller, R.J. (1990). Investor Behavior in the October 1987 Stock Market Crash: Survey Evidence, in Market Volatility, Cambridge: Massachusetts: MIT Press.
  • Suto, M. ve Toshino, M. (2005). Behavioural Biases of Japanese Institutional In- vestors: Fund Management and Corporate Governance, Corporate Governan- ce, 13: 466-477.
  • Trueman, B. (1994). Analyst Forecast and Herding Behavior, Review of Financi- al Studies, 7: 97-124.
  • Urritia, J.L. (1995). Tests of Random-Walk and Market Efficiency for Latin Ame- rican Emerging Markets, Journal of Financial Research, 18:299-309.
  • Wang, D. ve Canela, M. (2006). Herd Behavior towards the Market Index: Evi- dence from 21 Financial Markets, working paper, http://www.fma.org/Barce- lona/Papers/ Herding_towards_the_market_index.pdf , (Eriflim tarihi: 05.03.2007).
  • Welch, I. (1992). Sequental Sales, Learning and Cascades, Journal of Finance, 47: 695-732.
  • Welch, I. (2000). Herding among Security Analysts, Journal of Financial Econo- mics, 58: 369-396.
  • Wermers, R. (1995). Herding, Trade Reversals, and Cascading by Institutional Investors, working paper: University of Colorado, Boulder.
  • Worthington, A. C. ve Higgs, H. (2003). “Tests of random walks and market ef- ficiency in Latin American stock markets: An empirical note”, Discussion Paper No. 157. Technical Report, School of Economics and Finance, Queensland Uni- versity of Technology.
  • Zweibel, J. (1995). “Corporate Conservatism and Relative Compensation”, Jour- nal of Political Economy, 103 (1): 1-25.

Herding in Capital Markets: Analysis of Herding Towardsthe Market in ISE

Yıl 2008, Cilt: 2 Sayı: 1, 27 - 58, 01.06.2008

Kaynakça

  • Buguk, C. ve Brorsen, B. W. (2003). Testing weak-form market efficiency: Evi- dence from the Istanbul Stock Exchange, International Review of Financial Analysis, 12:579-590.
  • Bulow, J., Geankoplos, J. ve Klemperer, P. (1985). Multimarket Oligopoly: Stra- tegic Substitutes and Complements, Journal of Political Economy,93 (3):488- 511.
  • Caparrelli, F., D’Arcangelis, A.M. ve Cassuto , A. (2004). Herding in the Italian Stock Market: A Case of Behavioral Finance, Journal of Behavioral Finance, 5: 222-230.
  • and Herding of Earnings Forecasts, RAND Journal of Economics, 31: 121-144.
  • Huang, B.N. (1995). Do Asian Stock Market Prices Follow Random Walks? Evi- dence from the Variance Ratio Test, Applied Financial Economics, 5:251-256.
  • Hwang, S. ve Salmon, M. (2001a). A New Measure of Herding and Empirical Evidence, CUBS Financial Econometrics working Paper No: WP01-3, http://ssrn.com/abstract=299919, (Eriflim tarihi: 05.03.2007 ).
  • Hwang, S. ve Salmon, M. (2001b). Market Stress and Herding, Journal of Em- pirical Finance, 11: 585-616.
  • Kahn, R.N. (2004). What Investors can Learn from a Very Alternative Market, Financial Analysts Journal, 60: 17-20.
  • Kahneman, D. ve Tversky, A. (1979). Prospect Theory: An Analysis of Decision Under Risk, Econometrica, 47: 263-291.
  • Kultti, K. ve Miettinen, P. (2006). Herding with Costly Information, Internatio- nal Game Theory Review, 8: 21-31.
  • Lakanishok, J., Shleifer, A. ve Vishny R.W. (1992). The Impact of Institutional Trading on Stock Prices, Journal of Financial Economics, 32: 23-43.
  • Lamont, O.A. (2002). Macroeconomic Forecasts and Microeconomic Forecas- ters, 48: 265-280.
  • Tan, Lin, Chiang, T.C., Mason J.R. ve Nelling E. (2008). Herding behavior in Chi- nese stock markets: An examination of A and B shares, Pacific-Basin Finance Jo- urnal, 16:61-77.
  • Löffler, G.. (1998). Biasis in Analysts Forecasts:Cognitive, Strategic or Second Best?, International Journal of Forecasting, 14: 261-275.
  • Morris, S. ve Shin, H.S. (1999). Risk Management with Interdepedent Choice, Oxford Review of Economic Policy, 15 (3): 52-62.
  • Park, A. ve Sabourian, H. (2006). Herd Behavior in Efficient Financial Markets, working paper, http://www.chass.utoronto.ca/~apark/papers/herding.pdf, (Eriflim tarihi: 05.03.2007 ).
  • Persaud, A. (2000). Sending the Herd off the Cliff Edge: The Disturbing Interac- tion between Herding and Market-Sensitive Risk Management Practices, in Jac- ques de Larosiere Essays on Global Finance, Washington: Institute of Interna- tional Finance.
  • Pons, J. (2003). Strategic Bias, Herding Behaviour and Economic Forecasts, Jo- urnal of Forecasting, 22: 67-77.
  • Prechter, R.R.(2001). Unconcscious Herding Behavior as the Psychological Basis of Financial Market Trends and Patterns, The Journal of Psychology and Finan- cial Markets, 2 (3): 120-125.
  • Prendergast, C. ve Stole, L. (1996). Impetuous Youngters and Jaded Old-Ti- mers: Acquiring a Reputation for Learning, Journal of Political Economy, 104 (6): 1105-1134.
  • Scharfstein, D. ve Stein, J. (1990). Herd Behavior and Investment, American Economic Review, 80: 465-479.
  • Shiller, R.J. (1990). Investor Behavior in the October 1987 Stock Market Crash: Survey Evidence, in Market Volatility, Cambridge: Massachusetts: MIT Press.
  • Suto, M. ve Toshino, M. (2005). Behavioural Biases of Japanese Institutional In- vestors: Fund Management and Corporate Governance, Corporate Governan- ce, 13: 466-477.
  • Trueman, B. (1994). Analyst Forecast and Herding Behavior, Review of Financi- al Studies, 7: 97-124.
  • Urritia, J.L. (1995). Tests of Random-Walk and Market Efficiency for Latin Ame- rican Emerging Markets, Journal of Financial Research, 18:299-309.
  • Wang, D. ve Canela, M. (2006). Herd Behavior towards the Market Index: Evi- dence from 21 Financial Markets, working paper, http://www.fma.org/Barce- lona/Papers/ Herding_towards_the_market_index.pdf , (Eriflim tarihi: 05.03.2007).
  • Welch, I. (1992). Sequental Sales, Learning and Cascades, Journal of Finance, 47: 695-732.
  • Welch, I. (2000). Herding among Security Analysts, Journal of Financial Econo- mics, 58: 369-396.
  • Wermers, R. (1995). Herding, Trade Reversals, and Cascading by Institutional Investors, working paper: University of Colorado, Boulder.
  • Worthington, A. C. ve Higgs, H. (2003). “Tests of random walks and market ef- ficiency in Latin American stock markets: An empirical note”, Discussion Paper No. 157. Technical Report, School of Economics and Finance, Queensland Uni- versity of Technology.
  • Zweibel, J. (1995). “Corporate Conservatism and Relative Compensation”, Jour- nal of Political Economy, 103 (1): 1-25.
Toplam 31 adet kaynakça vardır.

Ayrıntılar

Birincil Dil Türkçe
Bölüm Research Article
Yazarlar

Erdinç Altay Bu kişi benim

Yayımlanma Tarihi 1 Haziran 2008
Yayımlandığı Sayı Yıl 2008 Cilt: 2 Sayı: 1

Kaynak Göster

APA Altay, E. (2008). Sermaye Piyasasında Sürü Davranışı: İMKB’de Piyasa Yönünde Sürü Davranışının Analizi. BDDK Bankacılık Ve Finansal Piyasalar Dergisi, 2(1), 27-58.