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Journals / Business and Management Studies: An International Journal / 2019 / Cilt: 7 - Sayı: 1

COMPARING PORTFOLIO STRAGIES BASED ON MOMENTUM, MONETARY POLICY AND LARGE PRICE CHANGES: TRAVEL AND LEISURE SECTOR APPLICATION

MOMENTUM FAKTÖRÜ, PARA POLİTİKASI KARARLARI VE BÜYÜK FİYAT DEĞİŞİMLERİNE DAYALI YATIRIM STRATEJİLERİNİN PERFORMANSLARININ KARŞILAŞTIRILMASI: GEZİ VE REKREASYON SEKTÖRÜ UYGULAMASI

TUBA SEVİL
ALP POLAT
Pages
102–117
DOI
—
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AI Summary & Key Takeaways

AI Insight
⚡ TL;DR(Too Long; Didn't Read)

The strategy based on large price changes shows the most successful performance when the other alternatives compared.

📌 3 Key Takeaways

🎯
Objective & Hypothesis:The travel and leisure sector is examined specifically in the area of finance due to its characteristics.
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Key Findings & Data:Investments in the stock market will increase sector's economic growth and employment.
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Conclusion & Impact:The strategy based on large price changes shows the most successful performance when the other alternatives compared.
🔬Design:Research Article
📍Scope:Comprehensive Sample
⚙️Variables:Domain Parameters

Abstract

The travel and leisure sector is examined specifically in the area of finance due to its characteristics. Stock market investments in the travel and leisure sector depends on the highest return at the specific risk level. Investments in the stock market will increase sector's economic growth and employment. The purpose of the study is to compare the performance of different strategies in travel and leisure sector of Turkey. In this study, portfolio switching strategies based on momentum, monetary policy changes and signals of large price changes are examined. Comparisons are made according to the Treynor, Sharpe and Jensen performance measurement criteria. Findings show that active portfolio strategies can be more successful than conventional buy and hold investments. The strategy based on large price changes shows the most successful performance when the other alternatives compared.

Özet

Gezi ve rekreasyon sektörü finans alanında karakteristik özellikleri nedeniyle özel olarak incelenmektedir. Gezi ve rekreasyon sektöründe pay senedi yatırımları belirli risk düzeyinde en yüksek getiri sağlandığında gerçekleşmektedir. Pay senetlerine olan yatırımlar ile birlikte sektörün ekonomik büyümesinde ve istihdam miktarında artış yaşanmaktadır. Araştırmanın amacı, Türkiye'de gezi ve rekreasyon sektörü üzerinde yatırımlarda uygulanabilecek farklı portföy değiştirme stratejilerinin performanslarını karşılaştırmaktır. Çalışmada momentum, para politikası değişimleri ve büyük fiyat değişimleri sinyallerini esas alan portföy değiştirme stratejileri incelenmiştir. Treynor, Sharpe ve Jensen ölçütlerine dayanan karşılaştırmalar gerçekleştirilmiştir. Elde edilen bulgular izlenecek portföy değiştirme stratejilerinin klasik satın al ve elde tut yatırımlarına göre daha başarılı olabileceğini göstermektedir. Riske dayalı performans ölçütleri, getiri ve portföy değeri açısından karşılaştırma yapıldığında büyük fiyat değişimlerine bağlı olarak oluşturulan strateji en başarılı performansı göstermektedir

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Cite This Article

SEVİL, T., POLAT, A. (2019). COMPARING PORTFOLIO STRAGIES BASED ON MOMENTUM, MONETARY POLICY AND LARGE PRICE CHANGES: TRAVEL AND LEISURE SECTOR APPLICATION. Business and Management Studies: An International Journal, Cilt: 7 - Sayı: 1, 102–117. https://ajindex.com/articles/160053

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