Dividend-Yield Based Trading Rules: The Turkish Evidence

International Research Journal of Applied Finance, Forthcoming

31 Pages Posted: 1 Nov 2010 Last revised: 26 Apr 2017

See all articles by Larry J. Prather

Larry J. Prather

Southeastern Oklahoma State University

John C. Topuz

Southeastern Oklahoma State University

Cihan Uzmanoglu

Binghamton University, The State University of New York

Date Written: October 31, 2010

Abstract

Recent research documents the superiority of dividend-yield based trading rules over a buy-and-hold strategy in the U.S. and Finland. We extend the international evidence on the superiority of dividend-yield based trading rules by examining whether the trading rules outperform a buy-and-hold strategy in Turkey. Specifically, we examine the returns of the ISE 30 index and trading rule portfolios that are components of the Istanbul Stock Exchange. Using a multiplicity of parametric and non-parametric tests, empirical results reveal that dynamic trading strategies do not outperform a passive strategy in Turkey.

Keywords: Dividend-yield based trading, Istanbul Stock Exchange

JEL Classification: G11, G14, G35

Suggested Citation

Prather, Larry J. and Topuz, John C. and Uzmanoglu, Cihan, Dividend-Yield Based Trading Rules: The Turkish Evidence (October 31, 2010). International Research Journal of Applied Finance, Forthcoming, Available at SSRN: https://ssrn.com/abstract=1700883 or http://dx.doi.org/10.2139/ssrn.1700883

Larry J. Prather

Southeastern Oklahoma State University ( email )

1405 N 4th Ave
Durant, OK 74701
United States

John C. Topuz

Southeastern Oklahoma State University ( email )

1405 N. 4th
Durant, OK 74701
United States

HOME PAGE: http://www.sosu.edu/bus/faculty.htm

Cihan Uzmanoglu (Contact Author)

Binghamton University, The State University of New York ( email )

Binghamton, NY 13902-6001
United States
607 777 66 38 (Phone)

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