Muhammed Mustafa Tuncer ÇALIŞKAN, Semih KERESTECİOĞLU

FİİLİ DOLAŞIM PAYLARININ HİSSE SENEDİ FİYATLARI ÜZERİNE ETKİLERİ: IMKB’DE BİR UYGULAMA

Bu çalışma, fiili dolaşım paylarının, Türkiye’deki hisse senetleri piyasa performanslarının üzerindeki etkisini incelemektedir. Bu amaç doğrultusunda, İstanbul Menkul Kıymetler Borsası’nda faaliyet gösteren 194 firmaya ait, 25.02.2011 ila 09.03.2012 tarihlerini kapsayan, günlük fiili dolaşım payları seçilmiştir. Fiili dolaşım payların etkilerinin gösterilmesi için, günlük fiyat getirileri, fiyat oynaklığı ve işlem hacmi bağımlı değişken olarak seçilerek regresyon modeli ile analiz edilmiştir. Analiz sonuçlarına göre, hisse senedi fiyat getirisi ile fiili dolaşım payları arasında hiç bir ilişki bulunamamıştır. Bir diğer taraftan, işlem hacmi ve fiyat oynaklığı ile fiili dolaşım payları arasında anlamlı bir ilişkinin olduğu ortaya konmuştur

Anahtar Kelimeler:

Fiili Dolaşım Payları, Piyasa Performansı, Borsa İstanbul

EFFECTS OF FREE FLOAT RATIOS ON STOCK PRICES: AN APPLICATION ON ISE

This study investigates the effect of the free float ratio FFR on stock return, risk, and trading activity in the Turkish capital market. Daily free float ratios are calculated 194 firms trading on Istanbul Stock Exchange for the period between 25.02.2011 and 09.03.2012. Results show no relationship between free float ratio and price return. On the other hand, trade activity and price volatility are significantly positively correlation with free float ratio.

Keywords:

Free Float Ratio, Market Performance, Borsa Istanbul,

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