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Derecelendirme Notu Degisikliklerinin Borsa Istanbul (BIST) Pay Piyasasi’na Etkileri

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  • Burak PIRGAIP

    (Cankaya Universitesi)

Abstract

Bu calismada, 1993-2016 yillari arasinda Moody’s Investors Service (Moody’s), Standard and Poor’s (S&P) ve Fitch Ratings (Fitch) tarafindan Turkiye icin verilen ulke kredi derecelendirme notlarindaki olumlu ve olumsuz yondeki degisikliklerin Borsa Istanbul (BIST) Pay Piyasasi’ndaki etkileri olay analizi yontemiyle incelenmektedir. Inceleme sonuclari degisiklik tarihinden once ve degisiklik tarihinde anormal getirilerin derecelendirme kararina paralel yonde hareket ettigini, daha sonraki donemlerde ise getiri etkilerinin tam tersi bir seyir izledigini gostermektedir. Ayrica, olumsuz yondeki derecelendirme degisikliklerinin etkilerinin olumlu yondeki degisikliklere nazaran daha fazla oldugu anlasilmaktadir.

Suggested Citation

  • Burak PIRGAIP, 2017. "Derecelendirme Notu Degisikliklerinin Borsa Istanbul (BIST) Pay Piyasasi’na Etkileri," Ege Academic Review, Ege University Faculty of Economics and Administrative Sciences, vol. 17(3), pages 351-368.
    • Handle: RePEc:ege:journl:v:17:y:2017:i:3:p:351-368
    DOI: 10.21121/eab.2017328402
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    References listed on IDEAS

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