THE DYNAMICS BETWEEN MUTUAL FUNDS FLOWS AND STOCK RETURNS: EMPIRICAL EVIDENCE FROM THE TURKEY MARKETS

Hümeyra BURUCU; Filiz YILDIZ CONTUK

Article Details

THE DYNAMICS BETWEEN MUTUAL FUNDS FLOWS AND STOCK RETURNS: EMPIRICAL EVIDENCE FROM THE TURKEY MARKETS

Authors:

Hümeyra BURUCU | Filiz YILDIZ CONTUK

Publisher:

Sosyal Bilimler Araştırmaları Derneği

Journal:

International Journal of Economics and Finance Studies 2011 Vol.3 Issue 1, pp.95-109

Document Type:

Article

Publication Date:

5/2011

Document Language:

Turkish

Document ID (Org No.):

2000811240

Frequency:

Bi-Annual

eISSN:

1309-8055

Abstract:

 

The aim of the study is searching the relationships existence and its directions between investment funds flow and earnings of market stock in Turkey for the period of 2001:4-2011:2. Specifically, we investigate the possibility of a causality mechanism through which mutual funds flows may affect stock returns and vice versa. Time series techniques used for searching this relationship between variances. Primarily to state stagnancy Phillips-Perron unit stem text techniques used, then to state the longer period relationships existence between variances Johansen- Juselius test techniques used. Because of variances are observed as integrated, by considering the possibility of existence at least there is a one way causality between variances, Granger causality test was made. As a result, findings show that there is a relationship between investment funds flow and earnings of market stock by the way there isn’t a causality relationship between investment funds flow and earnings of market stock.

Article Details

THE DYNAMICS BETWEEN MUTUAL FUNDS FLOWS AND STOCK RETURNS: EMPIRICAL EVIDENCE FROM THE TURKEY MARKETS

Authors: Hümeyra BURUCU | Filiz YILDIZ CONTUK

Publisher: Sosyal Bilimler Araştırmaları Derneği

Journal: International Journal of Economics and Finance Studies 2011 Vol.3 Issue 1, pp.95-109

Document Type: Article

Publication Date: 5/2011

Document Language: Turkish

Document ID (Org No.): 2000811240

Frequency: Bi-Annual

eISSN: 1309-8055

Issues

Authors:

Hümeyra BURUCU | Filiz YILDIZ CONTUK

Publisher:

Sosyal Bilimler Araştırmaları Derneği

Journal:

International Journal of Economics and Finance Studies 2011 Vol.3 Issue 1, pp.95-109

Document Type:

Article

Publication Date:

5/2011

Document Language:

Turkish

Document ID (Org No.):

2000811240

Frequency:

Bi-Annual

eISSN:

1309-8055