Evaluation of Market Efficiency and Trading Behavior of Investors: Evidence From Borsa Istanbul

Yusuf VARLI

Makale detayları

Evaluation of Market Efficiency and Trading Behavior of Investors: Evidence From Borsa Istanbul

Yazarlar:

Yusuf VARLI

Yayıncı:

Marmara University

Ana Başlıklar:

Sosyoloji & antropoloji

Dergi:

The Journal of Financial Researches and Studies 2018 Vol.10 Issue 18, pp.153-165

Belge Tipi:

Makale

Yayın Tarihi:

12/2017

Belge Dili:

İngilizce

Document ID (Org No.):

2000436043

eISSN:

2529-0029

pISSN:

1309-1123

Özet:

 

After the financial crisis of 2007-08, debates on structures and characteristics of financial markets havebecome the subject of much concern in both industry and academia. One of the most debated issues relatedto financial markets is whether they are efficient or not. With an intent to enter into discussions, this paperevaluates the market efficiency by using individual and institutional trade data from a specific stock exchange,namely Borsa Istanbul. To do so, we first form several measures of market efficiency through dailyinvestor data covering five years. By using these measures, we show that there is a negative relationship betweenmarket efficiency and turnover. That is, the more efficient the market, the lower the turnover. This resultcontributes to the debate of irrationality of investor behavior. The data also suggests that the efficiencyin Borsa Istanbul has been increasing after the crisis, showing that the effect of the crisis has been vanishingas time passes.

Makale detayları

Evaluation of Market Efficiency and Trading Behavior of Investors: Evidence From Borsa Istanbul

Yazarlar: Yusuf VARLI

Yayıncı: Marmara University

Ana Başlıklar: Sosyoloji & antropoloji

Dergi: The Journal of Financial Researches and Studies 2018 Vol.10 Issue 18, pp.153-165

Belge Tipi: Makale

Yayın Tarihi: 12/2017

Belge Dili: İngilizce

Document ID (Org No.): 2000436043

eISSN: 2529-0029

pISSN: 1309-1123

Sayı

Yazarlar:

Yusuf VARLI

Yayıncı:

Marmara University

Ana Başlıklar:

Sosyoloji & antropoloji

Dergi:

The Journal of Financial Researches and Studies 2018 Vol.10 Issue 18, pp.153-165

Belge Tipi:

Makale

Yayın Tarihi:

12/2017

Belge Dili:

İngilizce

Document ID (Org No.):

2000436043

eISSN:

2529-0029

pISSN:

1309-1123