- Anadolu Üniversitesi Sosyal Bilimler Dergisi
- Vol: 17 Issue: 1
- The Effects of Business Magazine Recommendations on the Stock Prices in Turkey: Case of Para
The Effects of Business Magazine Recommendations on the Stock Prices in Turkey: Case of Para
Authors : Kemal Eyüboğlu, Assoc. Halil Ibrahim Bulut
Pages : 109-122
Doi:10.18037/ausbd.415688
View : 16 | Download : 8
Publication Date : 2017-03-15
Article Type : Research
Abstract : The paper examines the effects of business magazines recommendations on the stock returns. For this purpose, it is analyzed whether investors can gain abnormal returns from the "buy” recommendations given by the weekly magazine "Para” cover the period February 2006-December 2012. The findings show that recommendations cannot help investors to earn abnormal returns from stocks. The reason of this might be the low circulation of business magazines in Turkey. In addition, it is determined that recommended stock performances are only 1.2% higher than the BIST-100 index performance in the long term.Keywords : Abnormal return, stock recommendation, BIST, business magazine