The impact on stock returns volatility of the company ordinary general assembly meetings

Financial system consists of a lot of investors competing with each other. The subjects which affect on stock returns is quite important for these investors who want to provide profits from investments. If the current market is efficient, it doesn?t allow profit more than usual. Because of this reason, the study researches the impact on stock returns volatility of the company ordinary general assembly meetings by acting with the efficient market hypothesis. The models of GARCH and EGARCH are used in order to detect the effect of volatility. After detected the appropriate models, the effect of volatility of ordinary general assembly meetings are examined with the dummy variable included model. Whether the ordinary general assembly meetings causes variance shifts was tested by using tests such as ICSS, Kappa 1 and Kappa 2 by vehicle analyses. The result of this study was reached that the ordinary general assembly meetings didn?t cause variance shifts except from three companies and they weren?t efficient.