Who are the market beaters: lucky investors, insiders or who else?

Basit Öğe Kaydı
dc.authorid0000-0003-3305-7209
dc.contributor.authorVarlı, Yusuf
dc.contributor.otherYönetim Bilimleri Fakültesi, İktisat Bölümü
dc.contributor.otherYönetim Bilimleri Fakültesi, İktisat Bölümü
dc.date.accessioned2018-07-11T14:11:48Z
dc.date.available2018-07-11T14:11:48Z
dc.date.issued2018
dc.departmentİHÜ, Yönetim Bilimleri Fakültesi, İktisat Bölümü
dc.description.abstractConditions of beating the market is always top of the interests of investors throughout the history. In this study we aim to find who beats the market using a special trade and portfolio data from a stock exchange namely Borsa İstanbul. Instead of market data, investor based data used in this paper provides us to make stronger analyses. We initially find that 87% of individual and 92% of institutional investors get returns in a random way. Then the rest of investors are investigated to determine who consistently beats the market and gets abnormal returns. And we mainly find that the market beating gets longer with increasing portfolio size and diversification, while it gets shorter with increasing turnover. Additionally, longer beating length means higher shares of women, old adults, funds and foreigner. Furthermore, we analyze the return performance of investors in our study and show that the picture becomes reversed compared to beating length criteria. Finally, the insiders are compared with other investors to understand whether the market is efficient in the strong form or not. And the findings indicate that the insiders cannot be specifically differentiated from other investors. Therefore, we end up with the evidence that there is strong form efficiency in Borsa İstanbul.
dc.identifier.citationVarlı, Y. (2018). Who are the market beaters: Lucky investors, insiders or who else?. Business and Economics Research Journal, 9(1), 87-107.
dc.identifier.doi10.20409/berj.2018.95
dc.identifier.endpage107
dc.identifier.issn1309-2448
dc.identifier.issue1
dc.identifier.startpage87
dc.identifier.trdizinidTXpBMk56azRPQT09
dc.identifier.urihttps://app.trdizin.gov.tr/makale/TXpBMk56azRPQT09
dc.identifier.urihttps://doi.org/10.20409/berj.2018.95
dc.identifier.urihttps://hdl.handle.net/20.500.12154/367
dc.identifier.volume9
dc.indekslendigikaynakTR-Dizin
dc.institutionauthorVarlı, Yusuf
dc.institutionauthorid0000-0003-3305-7209
dc.language.isoen
dc.publisherUludağ Üniversitesi
dc.relation.ihupublicationcategory118
dc.relation.ispartofBusiness and Economics Research Journal
dc.relation.publicationcategoryMakale - Uluslararası Hakemli Dergi - Kurum Öğretim Elemanı
dc.rightsinfo:eu-repo/semantics/openAccess
dc.subjectMarket Beating
dc.subjectAbnormal Returns
dc.subjectIndividual Investors
dc.subjectInstitutional Investors
dc.subjectInsider Trading
dc.subjectMarket Efficiency
dc.titleWho are the market beaters: lucky investors, insiders or who else?
dc.typeArticle
dspace.entity.typePublication
relation.isAuthorOfPublicationd17361da-7d88-4d33-af55-e3d83fe37bbc
relation.isAuthorOfPublication.latestForDiscoveryd17361da-7d88-4d33-af55-e3d83fe37bbc
relation.isOrgUnitOfPublication9d1809d1-3541-41aa-94ed-639736b7e16f
relation.isOrgUnitOfPublication.latestForDiscovery9d1809d1-3541-41aa-94ed-639736b7e16f

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