UYAR, Umut Pamukkale Üniversitesi, i.i.B.F. - iþletme Bölümü, Turkey , GÖKÇE, Altan Türkiye Cumhuriyet Merkezi Bankasý izmir subesi, Turkey

THE EFFECT OF 2008 GLOBAL ECONOMIC CRISIS ON THE PERFORMANCE OF BANK SHARES

38348

In today’s highly integrated world economy, countries can’t be neutral in front of global shocks most of the time by just maintaining their economies strong. The problems in the financial arena rapidly affect the countries’ economies and the capital markets by the contagiousness effect in a short time. In this article the effect of 2008 global economic crisis to the portfolio which consist of shares listed in Borsa İstanbul (BİST) and which is being traded in the banking sector is going to be analyzed. The performance of shares derived from daily return rates beginning from 2005 until 2009 and optimized by Markowitz model which is based on average variance is tested by Sharpe and Jensen Performance Ratio and as a result the shares analyzed in this study are seen to have low performance but valued over the market price level during the crisis period.

209

Financial Crisis , Sharpe Ratio , Jensen Performance Index

Journal Of Financial Researches an‎d Studies

225