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- Title
Aracı Kurum Tavsiyelerinin Hisse Senedi Fiyatı Üzerindeki Etkisi: Türkiye Örneği.
- Authors
BEDELOVA, Leyla; YILDIZ, Yılmaz; KARAN, Mehmet Baha
- Abstract
The purpose of this study is to examine the impact of analysts' recommendations on the stock prices of the listed companies in Borsa Istanbul. Secondary aim of this study is to investigate whether the market is semi-strong form efficient. Using the event study analysis, it is revealed that there is a significant relationship between analysts' recommendations and stock prices in the short term and it is possible to earn abnormal returns in the postevent period. Existence of abnormal returns in the short term after the announcement and absence of any price reversals during the 15 days post-event period indicate that the market is not semi-strong form efficient.
- Publication
Journal of Accounting & Finance / Muhasebe ve Finansman Dergisi, 2017, Issue 74, p97
- ISSN
1304-0391
- Publication type
Article