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DENETİM GÖRÜŞLERİNİN HİSSE SENEDİ ANORMAL GETİRİLERİ ÜZERİNE ETKİSİNİN 2009-2014 YILLARI BAZINDA ÖLÇÜMLENMESİ

ASSESMENT O F EFFECT OF AUDIT OPINIONS ON ABNORMAL RETURNS OF STOCK SHARES ON THE BASIS OF YEARS 2009-2014

Journal Name:

  • Muhasebe ve Vergi Uygulamaları Dergisi

Publication Year:

  • 2015

Key Words:

Keywords (Original Language):

Author NameUniversity of Author
Abstract (2. Language): 
Aim of this study is to investigate the effect of audit opinions on the stock returns in Istanbul Stock Exchange (ISE). Abnormal returns have been cal¬culated to measure the response of the market to audit opinions on the days around the date audit opinions were announced. The opinions exp- ressed in audit reports of 88 companies operating outside the financial sector and listed on ISE in years from 2009 to 2014 were examined. Data gathered were analyzed by the hypothesis testing and regression methods. In this context, it has been identified that a positive relationship exists between stock returns and announcement of the audit opinions in the specified years, and abnormal returns of the shares of the company under the stock index, before and after an incident, can be achieved. This case is the crucial indicator of the fact that the market will not be efficient that it is even in the semi-strong form as well.
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Abstract (Original Language): 
Bu çalışmanın amacı Borsa İstanbul (BIST)>da denetim görüşlerinin hisse senedi getirileri üzerindeki etkisini araştırmaktır. Denetim görüşlerinin açıklandığı tarih etrafındaki günlerde piyasanın denetim görüşlerine tepkisini ölçmek amacıyla anormal getiriler hesaplanmıştır. BIST'da işlem gören, 2009-2014 yıllarına ait, finans sektörü dışında faaliyet gösteren 88 şirketin denetim raporlarında açıklanan görüşler incelenmiştir. Veriler hipotez testleri ve regresyon yöntemine göre değerlendirilmiştir. Bu bağlamda belirtilen yıllarda denetim görüşünün ilanı ile hisse senedi getirisi arasında pozitif bir ilişkinin olduğu, olay öncesi ve sonrasında endeks kapsamındaki şirketlerin hisse senetlerinden anormal getirilerin elde edilebileceği tespit edilmiştir. Bu durum, piyasanın yarı güçlü formda bile etkin olmadığının önemli bir göstergesidir.
FULL TEXT (PDF): 
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  • 2
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152
  • Turkish

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REFERENCES

References: 

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