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Uzun Donemli Al-ve-Tut Getirileri: IMKB’de Halka Acik Sirketler Uzerine Bir Uygulama

Author

Listed:
  • Berna Kirkulak

    (Dokuz Eylul Universitesi, Isletme Fakultesi, Ingilizce Isletme Bolumu Tinaztepe Kampusu, Buca, Izmir)

Abstract

Bu calýsma IMKB’de 1995-2004 yillarinda halka arz edilen sirketlerin hisse senetlerinin bes yillik uzun donemli performanslarini incelemektedir. Elde edilen sonuclar gostermektedir ki ortalama ilk gun getirisi %8,26’dir ve IMKB’de ilk gun getirilerinde dusuk fiyatlama olgusu tespit edilmistir. Getirilerin sektorlere gore dagilimi yapildiginda en fazla ortalama ilk gun getiri elektrik ve mali sektorlerinde olup, sektorler arasinda getiriler istatistiki olarak birbirinden farklidir. Calismada uzun donemli hisse getirilerini hesaplamak icin al-ve-tut getiriler yontemi kullanilmistir. Bu calismanin en onemli sonuclarindan birisi ilk gun getirisi yuksek olan hisse senetlerinin uzun donemli getirilerinin de yuksek oldugudur. Bu sonuc gostermektedir ki, IMKB’de ozellikle halka arzlarda yatirimcilar arasinda asiri iyimserlik olgusu yasanmamistir. Calismanin bir diger sonucu ise buyuk isirketlerin hisse senedi getirilerinin yatirimcilara uzun donemde diger sirketlere gore kazandirdigidir.

Suggested Citation

  • Berna Kirkulak, 2010. "Uzun Donemli Al-ve-Tut Getirileri: IMKB’de Halka Acik Sirketler Uzerine Bir Uygulama," Ege Academic Review, Ege University Faculty of Economics and Administrative Sciences, vol. 10(2), pages 465-486.
    • Handle: RePEc:ege:journl:v:10:y:2010:i:2:p:465-486
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    More about this item

    Keywords

    Halka Arz; Uzun Donem Getiriler; IMKB;
    All these keywords.

    JEL classification:

    • L29 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - Other
    • P49 - Political Economy and Comparative Economic Systems - - Other Economic Systems - - - Other

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