Şahin, Ebubekir SıddıkVarlı, YusufYönetim Bilimleri Fakültesi, İktisat Bölümü2019-06-252019-06-252018Varlı, Y. ve Şahin, E. S. (2018). Determinants of market efficiency: evidence from Borsa Istanbul. ICOAEF’18 IV. International Conference on Applied Economics and Finance, 28-30 November 2018https://hdl.handle.net/20.500.12154/781Following the last global financial crisis, efficiencies of stock markets have come to sight as a novel area of research. The question of what factors shape the efficiency of the stock market is naturally always of a curiosity in theory and practice. In line with the framework of this curiosity, this study examines the determinants that play a crucial role in the efficiency of a certain stock market, Borsa Istanbul. Our study contributes to the literature by using five years and daily data for both individual and institutional investors. We here aim to specify the nine determinants of efficiency which are categorized under investor-based, market-based and country-based determinants. According to the three different regressions and VAR analysis, the model indicates the strong relationship between the efficiency and the specified determinants. The results illustrate that market efficiency has a statistically significant relationship with turnover, market volatility, the share of foreigners and interest rateeninfo:eu-repo/semantics/closedAccessStock Market EfficiencyBorsa IstanbulDeterminants of EfficiencyAdjusted ReturnConference Object