GÜÇ UNSURLARI İLE PAY SENEDİ GETİRİLERİ ARASINDAKİ İLİŞKİ: OLAY ÇALIŞMASI (EVENT STUDY)
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Tarih
2019
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info:eu-repo/semantics/openAccess
Özet
Bu çalışmada coğrafi konumu, ekonomik ve siyasi istikrarı sonucu bölgesel veuluslararası alandaki güç unsurları arasında yer alan Türkiye’nin finansal piyasalarınınetkinliğinin test edilmesi amaçlanmıştır. Türkiye’nin ekonomik ve finansal gücü, askeri,siyasi ve ekonomik güç unsurları çerçevesinde olay analizi yöntemi ile incelenmiştir. Gücün,askeri, siyasi ve ekonomik unsurları çerçevesinde Türkiye’de son yıllarda meydana gelenönemli olaylardan askeri olay olarak; 15 Temmuz Darbe Girişimi ve Fırat Kalkanı Harekâtı,ekonomik olay olarak; Rusya’nın Türkiye’ye Uyguladığı Ekonomik Yaptırımlar ve VarlıkFonunun Oluşturulması, siyasi olay olarak; Anayasa Değişikliği Referandumu ve ABD VizeKrizi ele alınmıştır. Çalışmada olay penceresi olarak ( t + 10, t – 10) dönemi alınmıştır. Çalışmasonucunda, (-10,+10) olay penceresinde, darbe girişimi ve vize krizi olayları için hesaplanankümülatif normalüstü getirilerin sıfırdan farksız olduğu sonucuna ulaşılmıştır. Fırat KalkanıHarekâtı, Ekonomik Yaptırımlar, Varlık Fonu ve Anayasa Değişikliği Referandumu olayları elealındığında ise Borsa İstanbul’un yarı güçlü formda etkin olmadığı ileri sürülebilir.
In this study, Turkey’s, which is become the regional and internatinol power with it’s geographical location, economic and political stability, financial markets effectiveness testing was aimed. Turkey’s economic and financial power has been examined by event study analysis method within the context of military, political and economic power elements. On the basis of military, political and economic elements of the force, major events that has been occured in the recent years as military event; 15th July military coup attempt and Fırat Shield Operation, as an economic event; Russia’s Economic Enforcement againts Turkey and Establishing of Wealth Fund, as a political event; Constitutional Referendum and US Visa Crises was taken into account. In the study, the period (t + 10, t - 10) was taken as the event window. At the end of the study, the cumulative abnormal returns for the events of the coup attempt and the visa crisis at the (-10, + 10) event window were found to be zero. It can be argued that Stock Exchange Istanbul is not active in semi-strong form when the events of Fırat Kalkan Operation, Economic Enforcements, Wealth Fund and Constitutional Referendum are taken into consideration.
In this study, Turkey’s, which is become the regional and internatinol power with it’s geographical location, economic and political stability, financial markets effectiveness testing was aimed. Turkey’s economic and financial power has been examined by event study analysis method within the context of military, political and economic power elements. On the basis of military, political and economic elements of the force, major events that has been occured in the recent years as military event; 15th July military coup attempt and Fırat Shield Operation, as an economic event; Russia’s Economic Enforcement againts Turkey and Establishing of Wealth Fund, as a political event; Constitutional Referendum and US Visa Crises was taken into account. In the study, the period (t + 10, t - 10) was taken as the event window. At the end of the study, the cumulative abnormal returns for the events of the coup attempt and the visa crisis at the (-10, + 10) event window were found to be zero. It can be argued that Stock Exchange Istanbul is not active in semi-strong form when the events of Fırat Kalkan Operation, Economic Enforcements, Wealth Fund and Constitutional Referendum are taken into consideration.
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Uluslararası Yönetim İktisat ve İşletme Dergisi
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Cilt
15
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1
