The effects of the stock index futures to the spot stock market: a study for the Istanbul Stock Exchange

GÖKBULUT R. İ., Koseoglu S. D., Atakan T.

ISTANBUL UNIVERSITY JOURNAL OF THE SCHOOL OF BUSINESS, cilt.38, sa.1, ss.84-100, 2009 (ESCI) identifier

  • Yayın Türü: Makale / Tam Makale
  • Cilt numarası: 38 Sayı: 1
  • Basım Tarihi: 2009
  • Dergi Adı: ISTANBUL UNIVERSITY JOURNAL OF THE SCHOOL OF BUSINESS
  • Derginin Tarandığı İndeksler: Emerging Sources Citation Index (ESCI), TR DİZİN (ULAKBİM)
  • Sayfa Sayıları: ss.84-100
  • İstanbul Üniversitesi Adresli: Evet

Özet

One of the fundemantal problems of the Turkish financial market is high volatility and therefore the occurance of relatively shallow market structure. In recent years, the rapid capital flows seen in global markets have resulted in increasing amounts of transactions in futures markets both for investment and speculation. The modelling of any interaction between the spot and futures markets constitutes a great importance with regard to determining the direction of information flow in these markets, price formation and risk measuring.