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İşlem Bazlı Manipülasyonun Pay Senedi Getirileri Üzerindeki Etkisi

Bu çalışma, işlem bazlı manipülatif girişimlerin pay senetleri üzerindeki etkisinin incelenmesini amaçlamaktadır. Çalışmanın örneklemini 2000-2014 döneminde çeşitli sektörlerde faaliyet gösteren işlem bazlı manipülasyon yapmış 143 şirket oluşturmaktadır. Çalışmada, olay etüdü yöntemi kullanılmıştır. Bu kapsamda manipülasyonun yapılmaya başlandığı tarih, olay günü olarak belirlenmiş ve buna bağlı olarak çeşitli dönemlerde olay pencereleri oluşturulmuştur. Elde edilen bulgular, kısa ve uzun dönemde manipülasyonun pay senedi getirilerini etkilediğini göstermektedir.

Anahtar Kelimeler:

İşlem bazlı manipülasyon, Borsa İstanbul, Olay Çalışması

The Effects of Trade-based Manipulation on Stock Returns

This study aims to examine the impact of the trade-based manipulative attempts on stock returns. The sample of the study is comprised of 143 companies that have performed trade-based manipulation in various sectors over the period 2000-2014. Event study method has been used in the study. The date when the manipulation started has been determined as the event day and event windows have been created in various periods accordingly. The findings show that the manipulation affects the stock returns in the short and long term.

Keywords:

Trade-based manipulation, Istanbul Stock Exchange, Event Study,

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