RESEARCH

CEF produces and disseminates high quality research output in the area of Financial Economics. This section will be published and working papers by faculty and research output data that will be periodically revised.

Reports

24 June 2019
Liquidity and Equity Returns in Borsa Istanbul

This research report presents various liquidity measures for stocks traded in Borsa Istanbul and investigates the relation between these measures and future equity returns. Click here to view the full report (Only in Turkish)

20 May 2019
Private Sector Debt Instruments

This research report presents an overview of the private debt market in Turkey and investigates the impact of these issues on the equity market. Click here to view the full report (Only in Turkish)

8 May 2019
Equity Return Anomalies in Turkish Markets

This research report examines 15 equity return anomalies documented in international markets in the context of Turkey and focuses on the relation between various firm characteristics and expected stock returns. Click here to view the full report (Only in Turkish)

10 May 2018
A Time-Series Analysis of Optimal Portfolio Weights in Turkey

This research report presents a historical analysis of optimal portfolio weights for four different invesment vehicles in Turkey. Click here to view the full report(Only in Turkish)

14 July 2017
Historical Performance Analysis of Country Equity Indices

This research report investigates the relative performances of various country equity indices using multiple risk metrics and sample periods Click here to view the full report

1 June 2017
Do Mergers and Acqui­sitions Create Econo­mic Value for Turkish Acquirers and Targ­et Firms?

This research report investigates the po­st-transaction stock return performances of Turkish public firms that have exper­ienced a merger or acquisition either as an acquirer or a ta­rget. Click here to view the full report(Only in Turkish)

16 February 2017
Comparat­ive Performance Anal­ysis of Investment Vehicles in Turkey

This research report compares the risk-adjusted performances of various broad and sector-specific BIST equity indices and alternative investments such US dollar, euro, gold and S&P 500 index. Click here to view the full report.