The Speed of Stock Price Adjustment To Corporate Announcements: Insights From Turkey
| gdc.relation.journal | Emerging Markets Review | en_US |
| dc.contributor.author | Ersan, Oğuz | |
| dc.contributor.author | Şimşir, Serif Aziz | |
| dc.contributor.author | Şimsek, Koray D. | |
| dc.contributor.author | Afan, Hasan | |
| dc.contributor.other | International Trade and Finance | |
| dc.contributor.other | 03. Faculty of Economics, Administrative and Social Sciences | |
| dc.contributor.other | 01. Kadir Has University | |
| dc.date.accessioned | 2021-01-28T12:45:36Z | |
| dc.date.available | 2021-01-28T12:45:36Z | |
| dc.date.issued | 2020 | |
| dc.description.abstract | The market reaction speeds to the news flow are currently measured at the millisecond level in developed markets. We investigate, using a unique setting from Turkey, whether the market reaction speeds in less sophisticated markets are on par with those of developed markets. We find that market reaction times to corporate announcements are slower than documented in recent studies, although markets react to positive news more quickly than negative news. When high-frequency traders are more active in the market prior to announcements, the speed of price adjustment is slower. Finally, we find sizable profit opportunities for investors following event-driven strategies. | en_US |
| dc.identifier.citationcount | 3 | |
| dc.identifier.doi | 10.1016/j.ememar.2020.100778 | en_US |
| dc.identifier.issn | 1566-0141 | en_US |
| dc.identifier.issn | 1566-0141 | |
| dc.identifier.issn | 1556-5068 | |
| dc.identifier.scopus | 2-s2.0-85096974112 | en_US |
| dc.identifier.uri | https://hdl.handle.net/20.500.12469/3785 | |
| dc.identifier.uri | https://doi.org/10.1016/j.ememar.2020.100778 | |
| dc.language.iso | en | en_US |
| dc.publisher | Elsevier | en_US |
| dc.relation.ispartof | SSRN Electronic Journal | |
| dc.rights | info:eu-repo/semantics/embargoedAccess | en_US |
| dc.subject | Corporate announcements | en_US |
| dc.subject | Event study | en_US |
| dc.subject | High frequency trading | en_US |
| dc.subject | Speed of stock price response | en_US |
| dc.title | The Speed of Stock Price Adjustment To Corporate Announcements: Insights From Turkey | en_US |
| dc.type | Article | en_US |
| dspace.entity.type | Publication | |
| gdc.author.institutional | Ersan, Oğuz | en_US |
| gdc.author.institutional | Ersan, Oğuz | |
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| gdc.coar.access | embargoed access | |
| gdc.coar.type | text::journal::journal article | |
| gdc.description.department | Fakülteler, İşletme Fakültesi, Uluslararası Ticaret ve Finans Bölümü | en_US |
| gdc.description.publicationcategory | Makale - Uluslararası Hakemli Dergi - Kurum Öğretim Elemanı | en_US |
| gdc.description.wosquality | Q1 | |
| gdc.identifier.openalex | W3104845353 | |
| gdc.identifier.wos | WOS:000657395800010 | en_US |
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| gdc.oaire.keywords | Event study | |
| gdc.oaire.keywords | High frequency trading | |
| gdc.oaire.keywords | Speed of stock price response | |
| gdc.oaire.keywords | Corporate announcements | |
| gdc.oaire.popularity | 8.113858E-9 | |
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| gdc.oaire.sciencefields | 0502 economics and business | |
| gdc.oaire.sciencefields | 05 social sciences | |
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