ISSN 1300-1868
 

Original Research (Original Article) 


STOCK MARKET REACTION TO DEVELOPMENTS IN TURKISH-EUROPEAN UNION RELATIONS

Mehmet ERYİĞİT.

Cited by (2)

Abstract
We report the results of an investigation of the stock-market reaction to European Union Membership related events in Istanbul Stock Exchange Markets (ISEM) in the period 2000-2005. We have analyzed abnormal and cumulative abnormal returns of 17 sector indexes for six important dates by using event-study methodology and found that for most of the cases there is no statistically significant abnormality in sector indices. The most positively received event is found to be the European Council's December 2004 decision to start the membership negotiations on October 3rd of 2005.

Key words: Event Study, ISEM, Abnormal Returns, Turkish-European Union Relations



[Türkçe Başlık Yok]

Ozet
Bu çalışmada İstanbul Menkul Kıymetler Borsasında 2000-2005 döneminde hisse senedi piyasasının Avrupa Birliği'ne üyelik süreciyle ilişkili olaylara tepkisi incelenmiştir. Çalışmada altı önemli tarih için 17 sektör endeksinin anormal ve kümülatif anormal getirileri olay çalışması (event-study) yöntemiyle analiz edilmiştir. Analiz sonucunda, çoğu durum için sektör endekslerinde istatistiksel olarak anlamlı bir anormal getiri (abnormal return) tespit edilmemiştir. En fazla pozitif kabul edilen of ay Avrupa Konseyi'nin Aralık 2004 tarihinde aldığı, 3 Kasım 2005 tarihinde üyelik müzakerelerine başlanması kararı olmuştur.

Anahtar Kelimeler: Olay Çalışması, IMKB, Anormal Getiriler, Türkiye-Avrupa Birliği İlişkileri


 
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This Article Cited By the following articles

MENKUL KIYMETLERLE İLGİLİ VERGİ DÜZENLEMELERİNİN SERMAYE PİYASALARI ÜZERİNDEKİ ETKİSİ
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How to Cite this Article
Pubmed Style

Mehmet ERYIGIT. STOCK MARKET REACTION TO DEVELOPMENTS IN TURKISH-EUROPEAN UNION RELATIONS. Ekonomik Yaklasim. 2007; 18(63): 55-68. doi:10.5455/ey.10631


Web Style

Mehmet ERYIGIT. STOCK MARKET REACTION TO DEVELOPMENTS IN TURKISH-EUROPEAN UNION RELATIONS. http://www.ekonomikyaklasim.org/?mno=156068 [Access: August 19, 2019]. doi:10.5455/ey.10631


AMA (American Medical Association) Style

Mehmet ERYIGIT. STOCK MARKET REACTION TO DEVELOPMENTS IN TURKISH-EUROPEAN UNION RELATIONS. Ekonomik Yaklasim. 2007; 18(63): 55-68. doi:10.5455/ey.10631



Vancouver/ICMJE Style

Mehmet ERYIGIT. STOCK MARKET REACTION TO DEVELOPMENTS IN TURKISH-EUROPEAN UNION RELATIONS. Ekonomik Yaklasim. (2007), [cited August 19, 2019]; 18(63): 55-68. doi:10.5455/ey.10631



Harvard Style

Mehmet ERYIGIT (2007) STOCK MARKET REACTION TO DEVELOPMENTS IN TURKISH-EUROPEAN UNION RELATIONS. Ekonomik Yaklasim, 18 (63), 55-68. doi:10.5455/ey.10631



Turabian Style

Mehmet ERYIGIT. 2007. STOCK MARKET REACTION TO DEVELOPMENTS IN TURKISH-EUROPEAN UNION RELATIONS. Ekonomik Yaklasim, 18 (63), 55-68. doi:10.5455/ey.10631



Chicago Style

Mehmet ERYIGIT. "STOCK MARKET REACTION TO DEVELOPMENTS IN TURKISH-EUROPEAN UNION RELATIONS." Ekonomik Yaklasim 18 (2007), 55-68. doi:10.5455/ey.10631



MLA (The Modern Language Association) Style

Mehmet ERYIGIT. "STOCK MARKET REACTION TO DEVELOPMENTS IN TURKISH-EUROPEAN UNION RELATIONS." Ekonomik Yaklasim 18.63 (2007), 55-68. Print. doi:10.5455/ey.10631



APA (American Psychological Association) Style

Mehmet ERYIGIT (2007) STOCK MARKET REACTION TO DEVELOPMENTS IN TURKISH-EUROPEAN UNION RELATIONS. Ekonomik Yaklasim, 18 (63), 55-68. doi:10.5455/ey.10631