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Has Borsa Istanbul been conceded Goals by Fenerbahce and Trabzonspor?

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  • Ekrem Tufan
  • Bahattin Hamarat

Abstract

This study investigates match fixing accused 2011 Turkish football league’s Fenerbahce, Galatasaray, Besiktas and Trabzonspor football clubs matches and their share performance at Borsa Istanbul (BIS). If there is match fixing gossips, some investors could beat the market. If some club members throw a game, they also could beat the market. So we could claim there was insider trading. To undertake this assessment, daily data of the football clubs Fenerbahce, Galatasaray, Besiktas and Trabzonspor shares closing prices and volumes were collected on the Borsa Istanbul (BIS) for the period from 03 January 2005 to 30 September 2011. To investigate differences between accusation and non-accusation periods, we calculated returns and applied descriptive statistics, and the Kolmogorov Smirnov, Kruskal-Wallis and logistic regression tests. Although this study cannot claim there was match fixing and insider trading for FB and TS, it can be said there was a suspicious.

Suggested Citation

  • Ekrem Tufan & Bahattin Hamarat, 2014. "Has Borsa Istanbul been conceded Goals by Fenerbahce and Trabzonspor?," Journal of Applied Finance & Banking, SCIENPRESS Ltd, vol. 4(2), pages 1-4.
    • Handle: RePEc:spt:apfiba:v:4:y:2014:i:2:f:4_2_4
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