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HİSSE SENEDİ ÖDÜNÇ İŞLEMLERİ VE TAKASBANK ÖDÜNÇ PAY SENEDİ PİYASASI: HİSSE SENEDİ ÖDÜNÇ KOMİSYON ORANLARI VE AÇIĞA SATIŞ İLİŞKİSİ

Security Lending and The relationship between Short Selling in ISE and Takasbank Lending Borrowing Market Commission Rates

Journal Name:

  • İstanbul Üniversitesi İktisat Fakültesi Mecmuası

Publication Year:

  • 2011

Key Words:

Keywords (Original Language):

Author NameUniversity of AuthorFaculty of Author
Abstract (2. Language): 
In this work, the mechanics of equity lending and its importance for equity markets have been studied. In this domain, it is investigated whether the rebate rates in the equity lending market can give us information about short selling activities at the ISE. By using Takasbank Equity Lending Market data, the relationship between the rebate rates and short selling at ISE has been analyzed. The year 2008 has been chosen as the study period because it has the effects of 2007 financial crises. The mostly traded equities in Takasbank Equity Lending Market which also belong to the banking sector have been included in the analysis and the Granger Causality test has been used as the methodology.
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Abstract (Original Language): 
Bu çalışmada ilk olarak hisse senedi ödünç işlemlerinin işleyişi ve hisse senedi piyasalarındaki önemi incelenmiştir. Bu kapsamda organize bir ödünç piyasasında hisse senedi ödünç komisyon oranlarının açığa satış işlemleri hakkında bilgi verip veremeyeceği araştırılmıştır. Takasbank Ödünç Pay Senedi Piyasası verileri kullanılarak ödünç komisyon oranları ve İMKB açığa satış miktarları arasındaki ilişki incelenmiştir. Analizin gerçekleştirildiği dönem 2007 finansal krizinin Türk sermaye piyasalarında etkisini gösterdiği 2008 yılı ile sınırlandırılmış olup, incelemeye Takasbank Ödünç Pay Senedi Piyasasında en çok işlem hacmine sahip bankacılık sektörüne ait hisse senetleri dahil edilmiştir. Analizlerde yöntem olarak Granger Nedensellik Testi kullanılmıştır.
FULL TEXT (PDF): 
PDF icon arastirmax-hisse-senedi-odunc-islemleri-takasbank-odunc-pay-senedi-piyasasi-hisse-senedi-odunc-komisyon-oranlari-aciga-satis-iliskisi.pdf
  • 2
187-216
  • Turkish

REFERENCES

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