Cilt 7 Sayı 4 (2019): Business & Management Studies: An International Journal
Makaleler

YATIRIMCI DUYARLILIĞININ PİYASA GETİRİLERİNE OLAN ETKİSİ: ENDEKS VADELİ İŞLEM SÖZLEŞMELERİ ÜZERİNE BİR ARAŞTIRMA

Gözde Türkmen MÜLDÜR
Dr. Öğr. Üyesi, Adana Alparslan Türkeş Bilim ve Teknoloji Üniversitesi
Yıldırım Beyazıt ÖNAL, Prof.Dr
Prof. Dr., Çukurova Üniversitesi

Yayınlanmış 2019-09-24

Anahtar Kelimeler

  • Investor Sentiment, Derivatives Market, Index Futures Contracts, Regression Analysis
  • Yatırımcı Duyarlılığı, Türev Piyasalar, Endeks Vadeli İşlem Sözleşmeleri

Nasıl Atıf Yapılır

MÜLDÜR, G. T., & ÖNAL, Y. B. (2019). YATIRIMCI DUYARLILIĞININ PİYASA GETİRİLERİNE OLAN ETKİSİ: ENDEKS VADELİ İŞLEM SÖZLEŞMELERİ ÜZERİNE BİR ARAŞTIRMA. Business & Management Studies: An International Journal, 7(4), 1621–1640. https://doi.org/10.15295/bmij.v7i4.1208

Özet

Spot piyasalarda varlık fiyatlamasında belirleyici faktörlerden biri olan yatırımcı duyarlılığının vadeli işlem piyasalarını da etkileme olasılığı oldukça yüksek olduğu düşünülmektedir. Bu bağlamda, Vadeli İşlem Piyasasında işlem gören kontratların getiri, işlem hacmi ve açık pozisyonları arasındaki ilişkilerin incelenmesi ile bilgiye dayalı işlem yapmayan kalabalıkların sistematik olarak piyasayı etkileme gücünün olup olmadığının ortaya konulması; Türkiye gibi finansal piyasaları hızla büyüyen bir ülke için büyük önem arz etmektedir. Bu çalışma ile Nisan 2006 - Nisan 2016 dönemlerinde yatırımcı duyarlılığının, Türkiye’de Endeks Vadeli İşlem Sözleşmelerinin getirilerini etkileyip etkilemediği araştırılmıştır. Vadeli işlem piyasa getirilerini temsilen, BIST 30 Endeks Vadeli İşlem Sözleşmelerinin getirileri incelenmiş ve yapılan regresyon analizi sonucunda, yatırımcı duyarlılığı temsilcilerinin getirileri anlamlı bir şekilde etkilediği görülmüştür. Çalışma, bilindiği kadarıyla, Türkiye’de vadeli işlem piyasalarında yatırımcı duyarlılığının etkisini araştıran ilk çalışma olması nedeniyle önem arz etmektedir.

İndirmeler

İndirme verileri henüz mevcut değil.

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