Operational risk and stock market returns: evidence from Turkey

dc.citation.epage128en_US
dc.citation.spage115en_US
dc.contributor.authorSolakoglu, M. N.en_US
dc.contributor.authorKose, K. A.en_US
dc.date.accessioned2018-04-12T13:50:56Z
dc.date.available2018-04-12T13:50:56Z
dc.date.issued2011en_US
dc.departmentDepartment of Banking and Financeen_US
dc.description.abstractFollowing several high-severity, low-frequency events in the financial sector, operational risk has gained importance both for regulators and managers of financial sector firms during the last decade. The banking sector in Turkey also experienced a severe crisis, due not only to economic conditions but also to events directly related to operational risk. However, it was only by mid-2007 that banks in Turkey were required to have necessary capital for operational risk. This study investigates the banking sector in Turkey in relation to operational risk. In addition, the study analyzes the reaction of stock market return to operational risk events between 1998 and 2007 using event study analysis. We find that returns show a negative reaction starting right before the event date. Moreover, this negative reaction appears to be significant for pre-2002 events but not for events after 2002. © 2009 by John Wiley & Sons, Inc. All rights reserved.en_US
dc.description.provenanceMade available in DSpace on 2018-04-12T13:50:56Z (GMT). No. of bitstreams: 1 bilkent-research-paper.pdf: 179475 bytes, checksum: ea0bedeb05ac9ccfb983c327e155f0c2 (MD5) Previous issue date: 2011en
dc.identifier.doi10.1002/9781118267066.ch6en_US
dc.identifier.isbn9780470390146
dc.identifier.urihttp://hdl.handle.net/11693/38216
dc.language.isoEnglishen_US
dc.publisherJohn Wiley and Sonsen_US
dc.relation.isversionofhttp://dx.doi.org/10.1002/9781118267066.ch6en_US
dc.source.titleOperational Risk toward Basel III: Best Practices and Issues in Modeling, Management, and Regulationen_US
dc.titleOperational risk and stock market returns: evidence from Turkeyen_US
dc.typeBook Chapteren_US

Files

Original bundle

Now showing 1 - 1 of 1
Loading...
Thumbnail Image
Name:
Operational-risk.pdf
Size:
4.31 MB
Format:
Adobe Portable Document Format
Description:
Full printable version