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      • Theses - Department of Management
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      Weak form efficiency of the Turkish gold market

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      Author
      Chafra, Jamel
      Advisor
      Muradoğlu, Gülnur
      Date
      1996
      Publisher
      Bilkent University
      Language
      English
      Type
      Thesis
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      Abstract
      In this study, the Weak Form Efficiency Flypothcsis of the Turkish gold market is examined. The period of the study runs from 01/01/1992 to 20/03/1996. This period is divided into four mutually exclusive sub-periods reflecting different stages of the Turkish gold market. Each sub-period's series of gold returns is examined for autocorrelation structure, randonmess, and normality. Furthermore, the Weak Form Efficiency hypothesis is conducted on the overall scries of gold returns. The result obtained is that the Efficient Market Hypothsis of the Turkish gold market does neither hold for the scries of gold returns of the sub-periods nor for that of the overall series. The implications of this result for the current state of the Turkish gold market and the Istanbul Gold Exchange (IGE) arc discussed.
      Keywords
      Weak Form Efficiency
      Turkish Gold Market
      Istanbul Gold Exchange
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      http://hdl.handle.net/11693/17794
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      • Dept. of Management - Master's degree 295
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