Please use this identifier to cite or link to this item: https://hdl.handle.net/20.500.11851/9091
Title: An empirical investigation of the determinants of market efficiency in Borsa Istanbul
Authors: Varlı Y.
Şahin E.S.
Keywords: Borsa Istanbul
Individual investors
Institutional investors
Market efficiency
Stock exchange
Issue Date: 2021
Publisher: Springer Nature
Abstract: Following the last global financial crisis, efficiencies of stock markets have come to sight as a novel area of research. The question of what factors shape the efficiency of the stock market is naturally always of curiosity in theory and practice. In line with the framework of this curiosity, this study examines the determinants that play a crucial role in the efficiency of a certain stock market, Borsa Istanbul. Our study contributes to the literature by using five years and daily data for both individual and institutional investors. We here aim to specify the ten determinants of efficiency which are categorized under investor-based, market-based and country-based determinants. According to the three different regressions and VAR analysis, the model indicates the strong relationship between the efficiency and the specified determinants such as turnover, market volatility, the share of foreign investors, and interest rate. © Springer Nature Singapore Pte Ltd. 2021.
URI: https://doi.org/10.1007/978-981-15-1928-4_3
https://hdl.handle.net/20.500.11851/9091
ISSN: 2509-7873
Appears in Collections:Scopus İndeksli Yayınlar Koleksiyonu / Scopus Indexed Publications Collection

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