THE RELATIONSHIP BETWEEN STOCK RETURNS AND FUNDAMENTAL VARIABLES: EVIDENCE FROM ISTANBUL STOCK EXCHANGE
Öz
The aim of the present stud, is to analyze the relationship between the stock returns of the firms listed on İstanbul Stock Exchange (ISE) and fundamental factors such as; the beta coefficient, Market Value/Book Value (MV/BV), Debt/Equity (D/E), Market Value of Equity (MVE), Price/Earning (P/E) and Sales/Price (S/P). In addition, the study analyzes the influence of the Jenuary effect on the relationship between fundamental factors and stock returns. The findings support the strengthening effect of jenuary on the relationship betweenstock returns and fundamental factors. Th indings of the study suggest that the beta coefficient, MVE, P/E and S/P ratios have higher explanatory power in explaining stock returns than the MV/BV and D/E ratios.
Anahtar Kelimeler
THE RELATIONSHIP BETWEEN STOCK RETURNS AND FUNDAMENTAL VARIABLES: EVIDENCE FROM ISTANBUL STOCK EXCHANGE
Öz
The aim of the present stud, is to analyze the relationship between the stock returns of the firms listed on İstanbul Stock Exchange (ISE) and fundamental factors such as; the beta coefficient, Market Value/Book Value (MV/BV), Debt/Equity (D/E), Market Value of Equity (MVE), Price/Earning (P/E) and Sales/Price (S/P). In addition, the study analyzes the influence of the Jenuary effect on the relationship between fundamental factors and stock returns. The findings support the strengthening effect of jenuary on the relationship betweenstock returns and fundamental factors. Th indings of the study suggest that the beta coefficient, MVE, P/E and S/P ratios have higher explanatory power in explaining stock returns than the MV/BV and D/E ratios.
Anahtar Kelimeler
Ayrıntılar
| Birincil Dil | Türkçe |
|---|---|
| Bölüm | Makaleler |
| Yazarlar | |
| Yayımlanma Tarihi | 1 Mart 2003 |
| Yayımlandığı Sayı | Yıl 2003 Cilt: 4 Sayı: 1 |