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      • Theses - Department of Management
      • Dept. of Management - Master's degree
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      Weak form efficiency tests in Istanbul Stock Exchange by using moving averages

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      Author
      Yılmaz, H. Serkan
      Advisor
      Muradoğlu, Gülnur
      Date
      1996
      Publisher
      Bilkent University
      Language
      English
      Type
      Thesis
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      Abstract
      This study tests the weak-foim efficiency in Istanbul Stock Exchange by forming portfolios of randomly selected stocks and applying moving averages methodology on these portfolios. Differing moving average rules are applied on random portfolios for the time period 1/1/1988-30/9/1995. Finally, returns of the selected strategies are compared with naive buy hold policy by computing excess returns and t ratios. This study shows that Istanbul Stock Exchange is not weak-form efficient. The returns of certain strategies brought returns significantly higher than the naive buy-hold policy.
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      http://hdl.handle.net/11693/17841
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      • Dept. of Management - Master's degree 295
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