Testing the Weak Form of the Efficient Market Hypothesis: The Case of Turkey
Yazarlar (1)
Prof. Dr. Ümit BULUT Kırşehir Ahi Evran Üniversitesi, Türkiye
| Makale Türü | Özgün Makale (Uluslararası alan indekslerindeki dergilerde yayınlanan tam makale) | ||
| Dergi Adı | EconWorld2016 | ||
| Makale Dili | – | Basım Tarihi | 01-2016 |
| Makale Linki | https://www.researchgate.net/profile/Umit-Bulut/publication/294890492_Etkin_Piyasa_Hipotezinin_Zayif_Formunun_Test_Edilmesi_Turkiye_Ornegi/links/56c5b21b08aeeeffa9e7e518/Etkin-Piyasa-Hipotezinin-Zayif-Formunun-Test-Edilmesi-Tuerkiye-Oernegi.pdf | ||
| UAK Araştırma Alanları |
Para Politikası
|
||
| Özet |
| This paper aims at investigating whether the weak-‐form of the efficient market hypothesis is valid for the Borsa Istanbul(BIST) 100 index by utilizing monthly data from 2003: 1-‐2015: 9. To this end, Lee and Strazicich (2003) and Carrion-‐i-‐Silvestre et al.(2009) unit root tests that take into consideration structural breaks are employed. Findings obtained from the unit root tests indicate that the stock prices follow a random walk and are not stationary. Therefore, the paper concludes that the weak-‐form of the efficient market hypothesis is valid in Turkey. |
| Anahtar Kelimeler |
