BETA KATSAYISININ TAHMİNİNDE GETİRİ ARALIĞININ SEKTÖRLER İTİBARİYLE ANALİZİ: İMKB’DE BİR ARAŞTIRMA

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The most important point considered when investing in securities is whether their returns exceed their risk or not. Therefore, the main aim of the portfolio management is relating returns of securities to their risk. The measure that establishes a relationship between risk and return of a stock is the beta coefficient. Beta coefficient shows the sensitivity of stock returns to market returns. Return interval, which is used for calculating the beta coefficient and the sector in which a firm operates make up two of themany factors affecting the beta coefficient. In this study, the beta coefficients of the stocks in four sectors of ISE are calculated and these coefficients are analyzed. Our results show that industry, service and technology sectors are affected from the market in the same way however, the influence of the market on the finance sector differs from those three sectors.

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Beta coefficient , CAPM , stock , stock return

Journal Of Economics and Administrative Sciences, Ataturk University

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Journal Of Economics and Administrative Sciences, Ataturk University