Dergiler / Dokuz Eylül Üniversitesi İşletme Fakültesi Dergisi / 2026 / Cilt: 4 Sayı: 1

THE RELATIONSHIP BETWEEN STOCK RETURNS AND FUNDAMENTAL VARIABLES: EVIDENCE FROM ISTANBUL STOCK EXCHANGE

Sayfa
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Yayın Tarihi
2003-03-01
DOI
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⚡ TL;DR(1 Cümlede Hızlı Çıkarım)

Th indings of the study suggest that the beta coefficient, MVE, P/E and S/P ratios have higher explanatory power in explaining stock returns than the MV/BV and D/E ratios.

📌 3 Maddede Bu Makale

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Amaç & Hipotez:The aim of the present stud, is to analyze the relationship between the stock returns of the firms listed on İstanbul Stock Exchange (ISE) and fundamental factors such as; the beta coefficient, Market Value/Book Value (MV/BV), Debt/Equity (D/E), Market Value of Equity (MVE), Price/Earning (P/E) and Sales/Price (S/P).
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Temel Bulgular & Veri:In addition, the study analyzes the influence of the Jenuary effect on the relationship between fundamental factors and stock returns.
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Sonuç & Katkı:Th indings of the study suggest that the beta coefficient, MVE, P/E and S/P ratios have higher explanatory power in explaining stock returns than the MV/BV and D/E ratios.
🔬Tür:Makale
📍Kapsam:Genişletilmiş Akademik Örneklem
⚙️Değişkenler:Firm-Specific Factors · January Effect · Stock Market Returns

Özet

The aim of the present stud, is to analyze the relationship between the stock returns of the firms listed on İstanbul Stock Exchange (ISE) and fundamental factors such as; the beta coefficient, Market Value/Book Value (MV/BV), Debt/Equity (D/E), Market Value of Equity (MVE), Price/Earning (P/E) and Sales/Price (S/P). In addition, the study analyzes the influence of the Jenuary effect on the relationship between fundamental factors and stock returns. The findings support the strengthening effect of jenuary on the relationship betweenstock returns and fundamental factors. Th indings of the study suggest that the beta coefficient, MVE, P/E and S/P ratios have higher explanatory power in explaining stock returns than the MV/BV and D/E ratios.

Abstract

The aim of the present stud, is to analyze the relationship between the stock returns of the firms listed on İstanbul Stock Exchange (ISE) and fundamental factors such as; the beta coefficient, Market Value/Book Value (MV/BV), Debt/Equity (D/E), Market Value of Equity (MVE), Price/Earning (P/E) and Sales/Price (S/P). In addition, the study analyzes the influence of the Jenuary effect on the relationship between fundamental factors and stock returns. The findings support the strengthening effect of jenuary on the relationship betweenstock returns and fundamental factors. Th indings of the study suggest that the beta coefficient, MVE, P/E and S/P ratios have higher explanatory power in explaining stock returns than the MV/BV and D/E ratios.

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Bu Makaleye Atıf Yap

Durukan, M. B., Mandacı, P. E. (2003). THE RELATIONSHIP BETWEEN STOCK RETURNS AND FUNDAMENTAL VARIABLES: EVIDENCE FROM ISTANBUL STOCK EXCHANGE. Dokuz Eylül Üniversitesi İşletme Fakültesi Dergisi, Cilt: 4 Sayı: 1. https://ajindex.com/articles/1148473