Master'sOpen Access

The reaction of finance sector investors to earnings surprises: A case from Turkey

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2017
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Advisor: Doç. Dr. Deniz Parlak

Abstract (EN)

The purpose of this study is to analyze the reaction of financial sector investors to earnings surprises in the perspective of behavioral finance. The analysis is conducted on 11 financial sector companies quoted to BIST in quarterly basis for the period spanning from January 2011 to December 2015 The investors' reactions is measured with abnormal and cumulative abnormal method in three days event window and the differences is analyzed with ANOVA and t-test methods. The results showed that the financial sector investor does not overreact to earnings surprises and efficient market hypothesis is supported for the stocks financial sector companies in Borsa İstanbul.

Author

Hasan Hüseyin Doğan

How to Cite

Hasan Hüseyin Doğan (Master Thesis). The reaction of finance sector investors to earnings surprises: A case from Turkey, 2017, Doğuş University.

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