Bu çalışma Türkiye’deki yatırımcıların hise senedi alım-satım davranışlarını analiz etmektedir. Bu analiz için 55 sorudan oluşan bir anket 85 kişi üzerinde uygulanmıştır ve yatırımcıların verdikleri cevaplar esas alınmıştır. Anket demografik özellikler, algılanan...

This is an analysis of the mutual funds in Turkey with respect to their risk-altering behavior. Using the monthly returns and volatilities of 133 funds from 2002 to 2007, we divide each year in two parts and check whether or not the funds’ performance in the first part affects the behavior of...

This paper investigates how reward-to-risk ratios compare among various government debt security (GDS) indices and sector indices in the Istanbul Stock Exchange. Risk is measured by either standard deviation or nonparametric and parametric value at risk. We find that the GDS indices have higher...

Bu çalışmanın amacı Fama ve French üç faktör modeline momentum faktörünün eklenmesiyle oluşturulan dört faktör modelinin İMKB’de hisse senedi getirilerini açıklama gücünün test edilmesidir. Çalışma Temmuz 1992 – Haziran 2008 döneminde (192 ay) İMKB’ye kote olmuş...

Bu makale emeklilik fonu yöneticilerinin piyasa zamanlama stratejisi uygulayıp uygulamadıklarını doğrusal olmayan yumuşak geçişli modeller yöntemiyle araştırmakta ve piyasa zamanlama stratejisi uygulayan fonların değişen risk ve getiri performansını günlük veri kullanarak...

The Euro Crisis has stopped the process of the European financial integration and triggered a strong repatriation of debt from foreign to domestic investors. We investigate this empirical pattern in light of competing theories of cross-border portfolio allocation. Three empirical regularities...

This paper examines the country and industry effects on the cross-sectional variance of firms’ equity return in the Association of Southeast Asian Nations (ASEAN) member countries. Using the model developed by Heston and Rouwenhorst (1994), this article covers five ASEAN countries and ten...

This paper examines the country and industry effects on the cross-sectional variance of firms’ equity return in the Association of Southeast Asian Nations (ASEAN) member countries. Using the model developed by Heston and Rouwenhorst (1994), this article covers five ASEAN countries and ten...

The paper reveals a few relevant dimensions of the need of adopting for, and the characteristics, role, objectives, and scope of Global standard in investment performance.

Our paper provides a complete characterization of leverage and default in binomial economies with financial assets serving as collateral. First, our Binomial No-Default Theorem states that any equilibrium is equivalent (in real allocations and prices) to another equilibrium in which there is no...