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Borsa Istanbul’da Islem Goren Yenilenebilir Enerji Sirketlerinin Pay Fiyat Etkinliginin Fourier Birim Kok Testleri ile Sinanmasi

Author

Listed:
  • Ecem ARIK

    (Ars. Gor., Toros Universitesi, Iktisadi ve Idari Bilimler Fakultesi, Isletme Bolumu, ecem.ozhan@toros.edu.tr)

  • Fela OZBEY

    (Dr. Ogr. Uyesi, Iktisadi ve Idari Bilimler Fakultesi, Ekonometri Bolumu, fozbey@cu.edu.tr,)

  • Serkan Yilmaz KANDIR

    (Prof. Dr., Iktisadi ve Idari Bilimler Fakultesi, Ýsletme Bolumu, skandir@cu.edu.tr)

Abstract

Son birkaç yuzyilda teknolojik gelismeler ile birlikte hizla artan enerji talebinin fosil yakitlarla karsilanmasi kit kaynaklarin tuketimini hizlandirmis ve beraberinde ekonomik ve cevresel sorunlara yol acmistir. Bu sorunlar; dusuk salinimli, yenilenebilir ve surdurulebilir enerji kaynaklarina yonelimi zorunlu kilmýstir. Surdurulebilirlik uzerine yapilan vurgu ile bilinclenen ureticilerin yenilenebilir enerji kaynaklarina yonelimleri son yillarda artmistir. Benzer sekilde finansal piyasalarin yatirimcilari, yenilenebilir enerji sirketlerinin paylarina yatirimlari artmistir. Ancak, yatirimcilar acisindan yatirim yaptiklari enstrumanlarin etkinligi onem arz etmektedir. Bu calismanin amaci, Borsa Istanbul’da islem goren ve yenilenebilir enerji ureten sirketlerin pay fiyatlarinin zayif formda etkin olup olmadiklarini arastirmaktir. Analize konu olan pay fiyatlari serilerinde coklu kirilmalar tespit edildiginden zayif formda etkinlik sinamasinda Fourier KPSS, Fourier ADF ve Fourier LM testleri kullanilmistir. Analiz sonuclari, 6 sirketten ikisinin pay fiyatlarinin zayif formda etkin olmayabilecegini, dolayisi ile bu sirketlerin paylarina yatirim yapan yatirimcilarin anormal getiri elde etme potansiyeline sahip olabilecekleri yonundedir.

Suggested Citation

  • Ecem ARIK & Fela OZBEY & Serkan Yilmaz KANDIR, 2023. "Borsa Istanbul’da Islem Goren Yenilenebilir Enerji Sirketlerinin Pay Fiyat Etkinliginin Fourier Birim Kok Testleri ile Sinanmasi," Isletme ve Iktisat Calismalari Dergisi, Econjournals, vol. 11(2), pages 114-126.
    • Handle: RePEc:eco:journ4:2023-02-06
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    More about this item

    Keywords

    Yenilenebilir enerji sirketleri; Fourier birim kok testleri; Piyasa etkinligi.;
    All these keywords.

    JEL classification:

    • G14 - Financial Economics - - General Financial Markets - - - Information and Market Efficiency; Event Studies; Insider Trading
    • C22 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Time-Series Models; Dynamic Quantile Regressions; Dynamic Treatment Effect Models; Diffusion Processes
    • C58 - Mathematical and Quantitative Methods - - Econometric Modeling - - - Financial Econometrics

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