Atukeren, Erdal; Seckin, Aylin - In: Applied financial economics 19 (2009) 19/21, pp. 1705-1714
We examine the dynamics of the relationships between the prices in Turkish paintings auctions and international art markets during 1990-2005 using cointegration and Granger-causality tests. We also estimate the Capital Asset Pricing Model (CAPM) relationship between the Turkish and the global...