THE DYNAMICS BETWEEN MUTUAL FUNDS FLOWS AND STOCK RETURNS: EMPIRICAL EVIDENCE FROM THE TURKEY MARKETS

Hümeyra BURUCU; Filiz YILDIZ CONTUK

Makale detayları

THE DYNAMICS BETWEEN MUTUAL FUNDS FLOWS AND STOCK RETURNS: EMPIRICAL EVIDENCE FROM THE TURKEY MARKETS

Yazarlar:

Hümeyra BURUCU | Filiz YILDIZ CONTUK

Yayıncı:

Sosyal Bilimler Araştırmaları Derneği

Dergi:

International Journal of Economics and Finance Studies 2011 Vol.3 Issue 1, pp.95-109

Belge Tipi:

Makale

Yayın Tarihi:

5/2011

Belge Dili:

Türkçe

Document ID (Org No.):

2000811240

Sıklık:

İki Yıllık

eISSN:

1309-8055

Özet:

 

The aim of the study is searching the relationships existence and its directions between investment funds flow and earnings of market stock in Turkey for the period of 2001:4-2011:2. Specifically, we investigate the possibility of a causality mechanism through which mutual funds flows may affect stock returns and vice versa. Time series techniques used for searching this relationship between variances. Primarily to state stagnancy Phillips-Perron unit stem text techniques used, then to state the longer period relationships existence between variances Johansen- Juselius test techniques used. Because of variances are observed as integrated, by considering the possibility of existence at least there is a one way causality between variances, Granger causality test was made. As a result, findings show that there is a relationship between investment funds flow and earnings of market stock by the way there isn’t a causality relationship between investment funds flow and earnings of market stock.

Makale detayları

THE DYNAMICS BETWEEN MUTUAL FUNDS FLOWS AND STOCK RETURNS: EMPIRICAL EVIDENCE FROM THE TURKEY MARKETS

Yazarlar: Hümeyra BURUCU | Filiz YILDIZ CONTUK

Yayıncı: Sosyal Bilimler Araştırmaları Derneği

Dergi: International Journal of Economics and Finance Studies 2011 Vol.3 Issue 1, pp.95-109

Belge Tipi: Makale

Yayın Tarihi: 5/2011

Belge Dili: Türkçe

Document ID (Org No.): 2000811240

Sıklık: İki Yıllık

eISSN: 1309-8055

Sayı

Yazarlar:

Hümeyra BURUCU | Filiz YILDIZ CONTUK

Yayıncı:

Sosyal Bilimler Araştırmaları Derneği

Dergi:

International Journal of Economics and Finance Studies 2011 Vol.3 Issue 1, pp.95-109

Belge Tipi:

Makale

Yayın Tarihi:

5/2011

Belge Dili:

Türkçe

Document ID (Org No.):

2000811240

Sıklık:

İki Yıllık

eISSN:

1309-8055