%0 Journal Article
%T MKB¡¯de Yabanc    lemleri ve Hisse Senedi Getirileri  li kisi = The Relationship Between Foreign Investments and Stock Returns on ISE
%A H. Ayd£¿n OKUYAN
%A Erman ERBAYKAL
%J Dogus University Journal
%D 2011
%I Dogus University
%X This paper, emerging from base broadening hypothesis, investigates whether the foreign transactions have an affect on the security returns in ISE. The cointegration relationship between two variables has been analyzed by the bounds testing approach developed by Pesaran et. al.(2001) and ARDL models using the monthly data of 1997:01- 2009:12. As a result, a positive relationship has been detected between the foreign transactions and returns of shares in the long run. However, the same relationship is insignificant in the short run. This finding can be interpreted as the validity of base broadening hypotesis in long term in ISE.
%K Taban n Geni lemesi Hipotezi
%K Yabanc  Yat r mlar
%K S n r Testi
%U http://journal.dogus.edu.tr/index.php/duj/article/view/313