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dc.contributor.advisorAltay-Salih, Aslıhan
dc.contributor.authorEmrah, Nermin
dc.date.accessioned2016-01-08T20:18:40Z
dc.date.available2016-01-08T20:18:40Z
dc.date.issued2015
dc.identifier.urihttp://hdl.handle.net/11693/18372
dc.descriptionAnkara : The Department of Management, İhsan Doğramacı Bilkent University, 2015.en_US
dc.descriptionThesis (Master's) -- Bilkent University, 2015.en_US
dc.descriptionIncludes bibliographical references leaves 65-70.en_US
dc.description.abstractThis study investigates the impact of liquidity on returns of stocks traded at Borsa İstanbul for the 2002-2014 period. Turnover rate, which is defined as average volume of a firm divided by the number of shares outstanding of that firm, is used as a liquidity measure. Liquidity effect is examined following panel data analysis and robust estimators controlling the effect of well-known firm-specific characteristics. The results show that turnover rate has a significant and negative effect on stock returns. This result indicates that investors request compensation for holding illiquid assets. In other words, they request compensation for the assets with low turnover. The impact of turnover rate on stock returns is significant for the whole year; therefore, results are not driven by the January effect.en_US
dc.description.statementofresponsibilityEmrah, Nerminen_US
dc.format.extentix, 70 leavesen_US
dc.language.isoEnglishen_US
dc.rightsinfo:eu-repo/semantics/openAccessen_US
dc.subjectLiquidity Effecten_US
dc.subjectTurnover Rateen_US
dc.subjectPanel Data Analysisen_US
dc.subject.lccHG5706.5.I88 E47 2015en_US
dc.subject.lcshStock exchanges--Turkey--İstanbul.en_US
dc.subject.lcshLiquidity (Economics).en_US
dc.titleImpact of liquidity on stock returns listed in Borsa Istanbulen_US
dc.typeThesisen_US
dc.departmentDepartment of Managementen_US
dc.publisherBilkent Universityen_US
dc.description.degreeM.S.en_US
dc.identifier.itemidB151246
dc.embargo.release2017-09-14


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