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İLK HALKA ARZLARDA UZUN DÖNEM GETİRİLERİNİN TAHMİNİ: YAPAY SİNİR AĞLARI İLE İMKB İÇİN AMPİRİK BİR ÇALIŞMA

Year 2009, Issue: 10, 29 - 47, 05.09.2011

Öğr. Gör. Ulaş Ünlü Yrd. Doç. Dr. Birol Yıldız Yrd. Doç. Dr. Abdullah Yalama

Abstract

Bu çalışmanın amacı İMKB’de ilk defa halka arz edilen hisse senetlerinin uzun dönem getirilerini yapay sinir
ağı kullanarak tahmin etmektir. Literatürde uzun dönem halka arz getirilerinin tahmin edilmesinde yaygın
olarak Doğrusal regresyon yönteminden yararlanıldığı görülmektedir. Bu çalışmada ise doğrusal regresyon
yöntemine ek olarak yapay sinir ağı teknolojisi kullanılmıştır. Uzun dönem getirileri tahmin etmede doğrusal
regresyon ve yapay sinir ağı modellerinin performansları karşılaştırılmıştır. Elde edilen bulgular yapay sinir
ağının uzun dönem halka arz getirilerini tahmin etmede doğrusal regresyon yönteminden daha başarılı
olduğunu ortaya koymaktadır

Keywords

Halka arz uzun dönem performans yapay sinir ağı doğrusal regresyon İMKB

References

  • Aggarwal, R. ve Rivoli, P. (1990), “Fads in initial public offering market”, Financial Management 19, ss.45-57.
  • Aggarwal, R., Leal, R. ve Hernandez, L. (1993), “The Aftermarket Performance of Initial Public Offerings in Latin America”, Financial Management 22, ss.42–53.
  • Alexander, J. (1993), “The lawsuit avoidance theory of why Initial Public Offerings are underpriced”, UCLA Law Review 41, ss.17-73.
  • Ayden T. ve Karan, M.B. (2000), “Đstanbul Menkul Kıymetler Borsasında Đlk Halka Arzların Uzun Vadeli Fiyat Performanslarının Ölçülmesi”, Gazi Universitesi I.I.B.F Dergisi 2 (3), ss.87-96.
  • Barber, B.M. ve Lyon, J.D. (1997), “Detecting long-run abnormal stock returns: the empirical power and specification of test statistics”, Journal of Financial Economics 43, ss.341-372.
  • Baron, D.P. (1982), “A model of the demand for investment bank advising and distribution services for new Issues”, Journal of Finance 45, ss.1045–1067.
  • Bernardo, A.E. ve Welch, I. (2001), “On the Evolution of Overconfidence and Entrepreneurs”, Journal of Economics and Management Strategy 10, ss.301-330.
  • Bishop C. M. (1997), “Neural Netorks for Pattern Recognition”, Clerendon Press, Oxford, ss.122-124.
  • Boardman, A. ve Laurin, C. (2000), “Factors affecting the stock price performance of share issued privatizations”, Applied Economics, 32(11), ss.1451-1464.
  • Brav, A., Geczy, C. ve Gompers, P.A. (2000), “Is the abnormal return following equity issuances anomalous?”, Journal of Financial Economics 56, ss.209-249.
  • Brav, A. ve Gompers, P.A. (1997), “Myth or reality? The long-run underperformance of initial public offerings: Evidence from venture and non-venture capital-backed companies”, Journal of Finance 52, ss.1791-1821.
  • Cai, J. ve Wei, K.C. (1997), “The investment and operating performance of Japanese initial public offerings”, Pacific-Basin Finance Journal 5, ss.389- 417.
  • Campbell, J.Y. Lo, A.E. ve Mackinlay, A.C. (1997), “The econometrics of financial markets”, Princeton University Press, Princeton, New Jersey.
  • Carter, R. ve Manaster, S. (1990), “Initial public offerings and underwriter reputation”, The Journal Of Finance, 45(4), ss.1045- 1067.
  • Carhart, M. (1997), “On Persistence in Mutual Fund Performance”, Journal of Finance 52, ss.57-82.
  • Carter, R.B. Dark, F.H. ve Singh, A.K. (1998), “Underwriter Reputation, Initial Returns, and the Long-run Performance of IPO Stocks”, Journal of Finance 53, ss.285-311.
  • Chalk, A.J., ve Peavy, J.W. (1987), “Initial public offerings: Daily returns, offering types and the price effect”, Financial Analysts Journal 43(5), ss.65-69.
  • Daniel, K. Hirshleifer, D. ve Subrahmanyam, A. (1998), “Investor psychology and security market under- and overreactions”, Journal of Finance 53, ss.1839-1885.
  • Dewenter, K.L. ve Malatesta, P.H. (1997), “Public offerings of state-owned and privately owned enterprises : An international comparison”, Journal of Finance 52, ss. 1659- 1679.
  • Durukan, M.B. (2002), “The relationship between IPO returns and factors influencing IPO performance: Case of the Istanbul Stock Exchange” Managerial Finance 28, ss.18-38.
  • Eckbo, B.E. ve Norli, Ø. (2005), “Liquidity Risk, Leverage and Long-Run IPO Returns”, Journal of Corporate Finance 11, ss.1-35.
  • Fama, E.F. ve French, K.R. (1993), “Common risk factors in the returns on stocks and bonds”, Journal of Financial Economics 43, ss.3-56.
  • Firth, M. (1997), “An analysis of the stock market performance of new issues in New Zealand”, Pacific-Basin Finance Journal 5, ss.63-85.
  • Haykin, S. (1999), “Neural Networks”, Prentice Hall, Second Edition, N.J.
  • Heaton, J. (2002), “Managerial Optimism and Corporate Finance”, Financial Management 31, ss.33-45.
  • Ikoku, A.E. (1998), “ Influence-seeking and pricing of initial public offerings and privatizations: Evidence from the Nigerian Equity Market”, University of Southern California, Working Paper.
  • Jain, B.A. ve Kini, O. (1994), “The Post-Issue Operating Performance of IPO Firms”, Journal of Finance 49, ss.1699-1726.
  • Jain B.A. ve Nag, B.N. (1998), “A neural network model to predict long-run operating performance of new ventures”, Annals of Operations Research 78, ss.83–110.
  • Jain B.A. ve Nag, B.N. (1995), “Artificial neural network models for pricing initial public offerings”, Decision Sciences 26(3), ss.283–302.
  • Jenkinson, T. ve Ljungqvist, A. (2001), “Going Public: The Theory and Evidence on How Companies Raise Equity Finance”, 2nd Edition, Oxford University Press, Oxford, UK.
  • Jog, V. (1997), “The climate for Canadian initial public offerings”, Financing Growth in Canada, University of Calgary Press, Calgary, ss.357-401.
  • Kıymaz, H. (1997a), “IMKB’de halka arz edilen hisse senetlerinin uzun dönem performansları ve bunları etkileyen faktörler: Đmalat sektörü 1990-1995 uygulaması”, ĐMKB Dergisi 3, ss.47-73.
  • Kıymaz, H. (1997b), “IMKB’de halka arz edilen mali sektör hisse senetlerinin uzun dönem performansları:1990- 1995 uygulaması”, Hazine Dergisi 7, ss.1-18.
  • Kıymaz, H. (2000), “The initial and aftermarket performance of IPOs in an emerging market: evidence from Istanbul Stock Exchange”, Journal of Multinational Financial Management 10, ss.213- 227.
  • Kim, B.J. Krinsky, I. ve Lee, J. (1995), “The aftermarket performance of initial public offerings”, Pacific-Basin Journal 3, ss.429-448.
  • Kothari, S.P. ve Warner, J.B. (1997), “Measuring long-horizon security price performance”, Journal of Financial Economics, ss.301- 339.
  • Kunz, R.M. ve Aggarwal, R. (1994), “Why initial public offerings are underpriced: Evidence from Switzerland”, Journal of Banking and Finance 18, ss.705-723.
  • Lee, P.J. Taylor, S.L. ve Walter, T.S. (1996), “Expected and realized returns for Singaporean IPOs: Initial and long-run analysis”, Pacific-Basin Journal 4, ss.153–180.
  • Levis, M. (1993), “The long-run performance of IPOs: the UK experience 1980–1988”, Financial Management Spring 22, ss.28-41.
  • Ljungqvist, A. (1997), “Pricing initial public offerings: Further evidence from Germany”, European Economic Review 41, ss.1309-1320.
  • Ljungqvist, A. (2003), “Conflicts of interest and efficient contracting in IPOs”, NYU, Ctr for Law and Business Research Paper No. 03-03, Working paper series.
  • Ljungqvist, A.P. ve Wilhelm, W.J. (2003), “IPO Pricing in the Dot-Com Bubble”, Journal of Finance 58, ss.723-752.
  • Loughran, T. Ritter, J.R. ve Rydqvist, K. (1994), “Initial public offerings: International insights”, Pacific-Basin Finance Journal 2, ss.165-199.
  • Loughran, T. ve Ritter, J.R. (2000), “Uniformly least powerful tests of market efficiency”, Journal of Financial Economics 55, ss.361-389.
  • Loughran, T ve Ritter, J.R. (2004), “Why Has IPO Underpricing Changed Over Time?”, Financial Management 33(3), ss.5-37.
  • Lyon, J.D. Barber, B.M. ve Tsai, C.L. (1999), “Improved methods for tests of long-run abnormal stock returns”, Journal of Finance 54, ss.165-201.
  • Mikkelson, W.H. Partch, M. ve Shah, K. (1997), “Ownership and operating performance of companies that go public”, Journal of Financial Economics 44(3),ss. 279-307.
  • Özer, B. (1999), “Price performance of initial public offerings in Turkey”, Sermaye Piyasası Kurumu Yayınları, Yayın No: 128, Ankara.
  • Raghuram R. ve Servaes, H. (1997), “Analyst Following of Initial Public Offerings”, Journal of Finance 52(2), ss.507-29.
  • Reber, B. Berry, B. ve Toms, S. (2005), “Predicting mispricing of initial public offerings. Đntelligent systems in accounting”, Finance and Management, (13), ss.41-59.
  • Ritter, J.R. (2003), “Differences between European and American IPO markets”, European Financial Management 9(4), ss.421-434.
  • Ritter, J.R. (1991), “The long-run performance of initial public offerings”, Journal of Finance 42, ss.365-94.
  • Ritter, J.R. ve Welch, I. (2002), “A review of IPO activity, pricing, and allocations”, Journal of Finance 57, ss.1795-1828.
  • Ritter, J.R. (2005), “Economic Growth and Equity Returns”, Pacific-Basin Finance Journal 13(5), ss.489-503.
  • Robertson S.J. Golden B.L. Runger G.C. ve Wasil E.A. (1998), “Neural network models for initial public offerings”, Neurocomputing 18, ss.165-182.
  • Tinic, S. (1988), “Anatomy of initial public offerings of common stock”, Journal of Finance 43, ss.789–822.
  • Weiss, H.K. (1993), “The underpricing of initial public offerings and the partial adjustment phenomenon”, Journal of Financial Economics 34(2), ss.231-250.
  • Ünlü, U., ve Ersoy, E. (2008), “Đlk halka arzlarda düşük fiyatlama ve kısa dönem performansın belirleyicileri”, Dokuz Eylül Üniversitesi IIBF Dergisi, 23(2), ss.243-258.
  • Yalama, A., ve Ünlü, U.(2010), “The calendar anomalies in IPO returns: Evidence from Turkey”, Đktisat Đşletme ve Finans 25 (286), ss.89-109.
  • Yıldız, B. (2009), “Finansal Analizde Yapay Zeka”, Detay Yayınları, Ankara, ss.107-118.

Year 2009, Issue: 10, 29 - 47, 05.09.2011

Öğr. Gör. Ulaş Ünlü Yrd. Doç. Dr. Birol Yıldız Yrd. Doç. Dr. Abdullah Yalama

Abstract

References

  • Aggarwal, R. ve Rivoli, P. (1990), “Fads in initial public offering market”, Financial Management 19, ss.45-57.
  • Aggarwal, R., Leal, R. ve Hernandez, L. (1993), “The Aftermarket Performance of Initial Public Offerings in Latin America”, Financial Management 22, ss.42–53.
  • Alexander, J. (1993), “The lawsuit avoidance theory of why Initial Public Offerings are underpriced”, UCLA Law Review 41, ss.17-73.
  • Ayden T. ve Karan, M.B. (2000), “Đstanbul Menkul Kıymetler Borsasında Đlk Halka Arzların Uzun Vadeli Fiyat Performanslarının Ölçülmesi”, Gazi Universitesi I.I.B.F Dergisi 2 (3), ss.87-96.
  • Barber, B.M. ve Lyon, J.D. (1997), “Detecting long-run abnormal stock returns: the empirical power and specification of test statistics”, Journal of Financial Economics 43, ss.341-372.
  • Baron, D.P. (1982), “A model of the demand for investment bank advising and distribution services for new Issues”, Journal of Finance 45, ss.1045–1067.
  • Bernardo, A.E. ve Welch, I. (2001), “On the Evolution of Overconfidence and Entrepreneurs”, Journal of Economics and Management Strategy 10, ss.301-330.
  • Bishop C. M. (1997), “Neural Netorks for Pattern Recognition”, Clerendon Press, Oxford, ss.122-124.
  • Boardman, A. ve Laurin, C. (2000), “Factors affecting the stock price performance of share issued privatizations”, Applied Economics, 32(11), ss.1451-1464.
  • Brav, A., Geczy, C. ve Gompers, P.A. (2000), “Is the abnormal return following equity issuances anomalous?”, Journal of Financial Economics 56, ss.209-249.
  • Brav, A. ve Gompers, P.A. (1997), “Myth or reality? The long-run underperformance of initial public offerings: Evidence from venture and non-venture capital-backed companies”, Journal of Finance 52, ss.1791-1821.
  • Cai, J. ve Wei, K.C. (1997), “The investment and operating performance of Japanese initial public offerings”, Pacific-Basin Finance Journal 5, ss.389- 417.
  • Campbell, J.Y. Lo, A.E. ve Mackinlay, A.C. (1997), “The econometrics of financial markets”, Princeton University Press, Princeton, New Jersey.
  • Carter, R. ve Manaster, S. (1990), “Initial public offerings and underwriter reputation”, The Journal Of Finance, 45(4), ss.1045- 1067.
  • Carhart, M. (1997), “On Persistence in Mutual Fund Performance”, Journal of Finance 52, ss.57-82.
  • Carter, R.B. Dark, F.H. ve Singh, A.K. (1998), “Underwriter Reputation, Initial Returns, and the Long-run Performance of IPO Stocks”, Journal of Finance 53, ss.285-311.
  • Chalk, A.J., ve Peavy, J.W. (1987), “Initial public offerings: Daily returns, offering types and the price effect”, Financial Analysts Journal 43(5), ss.65-69.
  • Daniel, K. Hirshleifer, D. ve Subrahmanyam, A. (1998), “Investor psychology and security market under- and overreactions”, Journal of Finance 53, ss.1839-1885.
  • Dewenter, K.L. ve Malatesta, P.H. (1997), “Public offerings of state-owned and privately owned enterprises : An international comparison”, Journal of Finance 52, ss. 1659- 1679.
  • Durukan, M.B. (2002), “The relationship between IPO returns and factors influencing IPO performance: Case of the Istanbul Stock Exchange” Managerial Finance 28, ss.18-38.
  • Eckbo, B.E. ve Norli, Ø. (2005), “Liquidity Risk, Leverage and Long-Run IPO Returns”, Journal of Corporate Finance 11, ss.1-35.
  • Fama, E.F. ve French, K.R. (1993), “Common risk factors in the returns on stocks and bonds”, Journal of Financial Economics 43, ss.3-56.
  • Firth, M. (1997), “An analysis of the stock market performance of new issues in New Zealand”, Pacific-Basin Finance Journal 5, ss.63-85.
  • Haykin, S. (1999), “Neural Networks”, Prentice Hall, Second Edition, N.J.
  • Heaton, J. (2002), “Managerial Optimism and Corporate Finance”, Financial Management 31, ss.33-45.
  • Ikoku, A.E. (1998), “ Influence-seeking and pricing of initial public offerings and privatizations: Evidence from the Nigerian Equity Market”, University of Southern California, Working Paper.
  • Jain, B.A. ve Kini, O. (1994), “The Post-Issue Operating Performance of IPO Firms”, Journal of Finance 49, ss.1699-1726.
  • Jain B.A. ve Nag, B.N. (1998), “A neural network model to predict long-run operating performance of new ventures”, Annals of Operations Research 78, ss.83–110.
  • Jain B.A. ve Nag, B.N. (1995), “Artificial neural network models for pricing initial public offerings”, Decision Sciences 26(3), ss.283–302.
  • Jenkinson, T. ve Ljungqvist, A. (2001), “Going Public: The Theory and Evidence on How Companies Raise Equity Finance”, 2nd Edition, Oxford University Press, Oxford, UK.
  • Jog, V. (1997), “The climate for Canadian initial public offerings”, Financing Growth in Canada, University of Calgary Press, Calgary, ss.357-401.
  • Kıymaz, H. (1997a), “IMKB’de halka arz edilen hisse senetlerinin uzun dönem performansları ve bunları etkileyen faktörler: Đmalat sektörü 1990-1995 uygulaması”, ĐMKB Dergisi 3, ss.47-73.
  • Kıymaz, H. (1997b), “IMKB’de halka arz edilen mali sektör hisse senetlerinin uzun dönem performansları:1990- 1995 uygulaması”, Hazine Dergisi 7, ss.1-18.
  • Kıymaz, H. (2000), “The initial and aftermarket performance of IPOs in an emerging market: evidence from Istanbul Stock Exchange”, Journal of Multinational Financial Management 10, ss.213- 227.
  • Kim, B.J. Krinsky, I. ve Lee, J. (1995), “The aftermarket performance of initial public offerings”, Pacific-Basin Journal 3, ss.429-448.
  • Kothari, S.P. ve Warner, J.B. (1997), “Measuring long-horizon security price performance”, Journal of Financial Economics, ss.301- 339.
  • Kunz, R.M. ve Aggarwal, R. (1994), “Why initial public offerings are underpriced: Evidence from Switzerland”, Journal of Banking and Finance 18, ss.705-723.
  • Lee, P.J. Taylor, S.L. ve Walter, T.S. (1996), “Expected and realized returns for Singaporean IPOs: Initial and long-run analysis”, Pacific-Basin Journal 4, ss.153–180.
  • Levis, M. (1993), “The long-run performance of IPOs: the UK experience 1980–1988”, Financial Management Spring 22, ss.28-41.
  • Ljungqvist, A. (1997), “Pricing initial public offerings: Further evidence from Germany”, European Economic Review 41, ss.1309-1320.
  • Ljungqvist, A. (2003), “Conflicts of interest and efficient contracting in IPOs”, NYU, Ctr for Law and Business Research Paper No. 03-03, Working paper series.
  • Ljungqvist, A.P. ve Wilhelm, W.J. (2003), “IPO Pricing in the Dot-Com Bubble”, Journal of Finance 58, ss.723-752.
  • Loughran, T. Ritter, J.R. ve Rydqvist, K. (1994), “Initial public offerings: International insights”, Pacific-Basin Finance Journal 2, ss.165-199.
  • Loughran, T. ve Ritter, J.R. (2000), “Uniformly least powerful tests of market efficiency”, Journal of Financial Economics 55, ss.361-389.
  • Loughran, T ve Ritter, J.R. (2004), “Why Has IPO Underpricing Changed Over Time?”, Financial Management 33(3), ss.5-37.
  • Lyon, J.D. Barber, B.M. ve Tsai, C.L. (1999), “Improved methods for tests of long-run abnormal stock returns”, Journal of Finance 54, ss.165-201.
  • Mikkelson, W.H. Partch, M. ve Shah, K. (1997), “Ownership and operating performance of companies that go public”, Journal of Financial Economics 44(3),ss. 279-307.
  • Özer, B. (1999), “Price performance of initial public offerings in Turkey”, Sermaye Piyasası Kurumu Yayınları, Yayın No: 128, Ankara.
  • Raghuram R. ve Servaes, H. (1997), “Analyst Following of Initial Public Offerings”, Journal of Finance 52(2), ss.507-29.
  • Reber, B. Berry, B. ve Toms, S. (2005), “Predicting mispricing of initial public offerings. Đntelligent systems in accounting”, Finance and Management, (13), ss.41-59.
  • Ritter, J.R. (2003), “Differences between European and American IPO markets”, European Financial Management 9(4), ss.421-434.
  • Ritter, J.R. (1991), “The long-run performance of initial public offerings”, Journal of Finance 42, ss.365-94.
  • Ritter, J.R. ve Welch, I. (2002), “A review of IPO activity, pricing, and allocations”, Journal of Finance 57, ss.1795-1828.
  • Ritter, J.R. (2005), “Economic Growth and Equity Returns”, Pacific-Basin Finance Journal 13(5), ss.489-503.
  • Robertson S.J. Golden B.L. Runger G.C. ve Wasil E.A. (1998), “Neural network models for initial public offerings”, Neurocomputing 18, ss.165-182.
  • Tinic, S. (1988), “Anatomy of initial public offerings of common stock”, Journal of Finance 43, ss.789–822.
  • Weiss, H.K. (1993), “The underpricing of initial public offerings and the partial adjustment phenomenon”, Journal of Financial Economics 34(2), ss.231-250.
  • Ünlü, U., ve Ersoy, E. (2008), “Đlk halka arzlarda düşük fiyatlama ve kısa dönem performansın belirleyicileri”, Dokuz Eylül Üniversitesi IIBF Dergisi, 23(2), ss.243-258.
  • Yalama, A., ve Ünlü, U.(2010), “The calendar anomalies in IPO returns: Evidence from Turkey”, Đktisat Đşletme ve Finans 25 (286), ss.89-109.
  • Yıldız, B. (2009), “Finansal Analizde Yapay Zeka”, Detay Yayınları, Ankara, ss.107-118.
There are 60 citations in total.

Details

Primary Language Turkish
Journal Section Makaleler
Authors

Öğr. Gör. Ulaş Ünlü This is me

Yrd. Doç. Dr. Birol Yıldız This is me

Yrd. Doç. Dr. Abdullah Yalama This is me

Publication Date September 5, 2011
Published in Issue Year 2009 Issue: 10

Cite

APA Ünlü, Ö. G. U., Yıldız, Y. D. D. B., & Yalama, Y. D. D. A. (2011). İLK HALKA ARZLARDA UZUN DÖNEM GETİRİLERİNİN TAHMİNİ: YAPAY SİNİR AĞLARI İLE İMKB İÇİN AMPİRİK BİR ÇALIŞMA. Istanbul University Econometrics and Statistics E-Journal(10), 29-47.
AMA Ünlü ÖGU, Yıldız YDDB, Yalama YDDA. İLK HALKA ARZLARDA UZUN DÖNEM GETİRİLERİNİN TAHMİNİ: YAPAY SİNİR AĞLARI İLE İMKB İÇİN AMPİRİK BİR ÇALIŞMA. Istanbul University Econometrics and Statistics e-Journal. September 2011;(10):29-47.
Chicago Ünlü, Öğr. Gör. Ulaş, Yrd. Doç. Dr. Birol Yıldız, and Yrd. Doç. Dr. Abdullah Yalama. “İLK HALKA ARZLARDA UZUN DÖNEM GETİRİLERİNİN TAHMİNİ: YAPAY SİNİR AĞLARI İLE İMKB İÇİN AMPİRİK BİR ÇALIŞMA”. Istanbul University Econometrics and Statistics E-Journal, no. 10 (September 2011): 29-47.
EndNote Ünlü ÖGU, Yıldız YDDB, Yalama YDDA (September 1, 2011) İLK HALKA ARZLARDA UZUN DÖNEM GETİRİLERİNİN TAHMİNİ: YAPAY SİNİR AĞLARI İLE İMKB İÇİN AMPİRİK BİR ÇALIŞMA. Istanbul University Econometrics and Statistics e-Journal 10 29–47.
IEEE Ö. G. U. Ünlü, Y. D. D. B. Yıldız, and Y. D. D. A. Yalama, “İLK HALKA ARZLARDA UZUN DÖNEM GETİRİLERİNİN TAHMİNİ: YAPAY SİNİR AĞLARI İLE İMKB İÇİN AMPİRİK BİR ÇALIŞMA”, Istanbul University Econometrics and Statistics e-Journal, no. 10, pp. 29–47, September 2011.
ISNAD Ünlü, Öğr. Gör. Ulaş et al. “İLK HALKA ARZLARDA UZUN DÖNEM GETİRİLERİNİN TAHMİNİ: YAPAY SİNİR AĞLARI İLE İMKB İÇİN AMPİRİK BİR ÇALIŞMA”. Istanbul University Econometrics and Statistics e-Journal 10 (September 2011), 29-47.
JAMA Ünlü ÖGU, Yıldız YDDB, Yalama YDDA. İLK HALKA ARZLARDA UZUN DÖNEM GETİRİLERİNİN TAHMİNİ: YAPAY SİNİR AĞLARI İLE İMKB İÇİN AMPİRİK BİR ÇALIŞMA. Istanbul University Econometrics and Statistics e-Journal. 2011;:29–47.
MLA Ünlü, Öğr. Gör. Ulaş et al. “İLK HALKA ARZLARDA UZUN DÖNEM GETİRİLERİNİN TAHMİNİ: YAPAY SİNİR AĞLARI İLE İMKB İÇİN AMPİRİK BİR ÇALIŞMA”. Istanbul University Econometrics and Statistics E-Journal, no. 10, 2011, pp. 29-47.
Vancouver Ünlü ÖGU, Yıldız YDDB, Yalama YDDA. İLK HALKA ARZLARDA UZUN DÖNEM GETİRİLERİNİN TAHMİNİ: YAPAY SİNİR AĞLARI İLE İMKB İÇİN AMPİRİK BİR ÇALIŞMA. Istanbul University Econometrics and Statistics e-Journal. 2011(10):29-47.