ISSN 1300-1868
 

Original Research (Original Article) 


The Dividend Reflex of Turkish Stock Investors

İsmail BULMUŞ.

Abstract
The aim of this study is to empirically test the fundamental hypotheses of Classical Finance Theory against the currently rising Behavioral Finance assumptions. Behavioral Finance generally analyzes the rationality of stock investors who use herd psychology when choosing their portfolio investments by examining their desire and sensitivity towards regularly dividend distributing stocks. The results of this study have proven that Classical Finance Theory’s Rationality and Efficient Market Hypothesis are still valid and applicable.

Key words: Dividend, Efficient market hypothesis, Portfolio strategy, Behavioral finance. JEL Classification: G32



TÜRKİYE BORSA YATIRIMCISININ TEMETTÜ REFLEKSİ

Ozet
Bu çalışmanın amacı, “Davranışsal Finans”ın son yıllarda giderek yükselen grafiği karşısında Klasik Finans Teorisinin temel varsayımlarını ampirik olarak sınamaktır. Davranışsal Finans tarafından çoğu zaman sürü psikolojisi ile davrandığı ileri sürülen borsa yatırımcılarının portföylerini oluştururken ne kadar rasyonel oldukları, düzenli nakit temettü veren hisse senetlerine olan ilgi ve duyarlılıkları yardımıyla araştırılmıştır. Araştırma sonucunda elde edilen bulgular, Klasik Finans Teorisinin Rasyonellik ve Etkin Piyasa Hipotezlerinin kolayca yabana atılabilir varsayımlar olmadığını ortaya koymuştur.

Anahtar Kelimeler: Temettü, Etkin piyasa hipotezi, Portföy stratejisi, Davranışsal finans. JEL Sınıflaması: G32


 
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How to Cite this Article
Pubmed Style

Ismail BULMUS. [The Dividend Reflex of Turkish Stock Investors]. Ekonomik Yaklasim. 2012; 23(Special): 1-12. Turkish. doi:10.5455/ey.20005


Web Style

Ismail BULMUS. [The Dividend Reflex of Turkish Stock Investors]. http://www.ekonomikyaklasim.org/?mno=34386 [Access: February 20, 2019]. Turkish. doi:10.5455/ey.20005


AMA (American Medical Association) Style

Ismail BULMUS. [The Dividend Reflex of Turkish Stock Investors]. Ekonomik Yaklasim. 2012; 23(Special): 1-12. Turkish. doi:10.5455/ey.20005



Vancouver/ICMJE Style

Ismail BULMUS. [The Dividend Reflex of Turkish Stock Investors]. Ekonomik Yaklasim. (2012), [cited February 20, 2019]; 23(Special): 1-12. Turkish. doi:10.5455/ey.20005



Harvard Style

Ismail BULMUS (2012) [The Dividend Reflex of Turkish Stock Investors]. Ekonomik Yaklasim, 23 (Special), 1-12. Turkish. doi:10.5455/ey.20005



Turabian Style

Ismail BULMUS. 2012. [The Dividend Reflex of Turkish Stock Investors]. Ekonomik Yaklasim, 23 (Special), 1-12. Turkish. doi:10.5455/ey.20005



Chicago Style

Ismail BULMUS. "[The Dividend Reflex of Turkish Stock Investors]." Ekonomik Yaklasim 23 (2012), 1-12. Turkish. doi:10.5455/ey.20005



MLA (The Modern Language Association) Style

Ismail BULMUS. "[The Dividend Reflex of Turkish Stock Investors]." Ekonomik Yaklasim 23.Special (2012), 1-12. Print.Turkish. doi:10.5455/ey.20005



APA (American Psychological Association) Style

Ismail BULMUS (2012) [The Dividend Reflex of Turkish Stock Investors]. Ekonomik Yaklasim, 23 (Special), 1-12. Turkish. doi:10.5455/ey.20005