The Role of Monetary Policy Announcements on Turkish Banks Stock Returns

Emerging Markets Journal, 2016

Posted: 8 Jun 2019

See all articles by Nida Abdioglu

Nida Abdioglu

Bandirma Onyedi Eylul University/ Faculty of Economics and Administrative Sciences

Date Written: 2016

Abstract

This paper investigates the impact of monetary policy committee decisions of the Central Bank of the Republic of Turkey on the stock returns of the deposit banks listed in Borsa Istanbul Banks Index (XBANK). The cumulative abnormal returns of the banks are calculated for 2008 and 2012. We report that the monetary policy announcements affect cumulative abnormal returns of the deposits banks both in 2008 and 2012. Since the announcement of the monetary policy decisions created abnormal returns, we conclude that the market does not have semi-strong form efficiency.

Keywords: Monetary Policy, Cumulative Abnormal Returns, Event Study, Emerging Markets, Borsa Istanbul

Suggested Citation

Abdioglu, Nida, The Role of Monetary Policy Announcements on Turkish Banks Stock Returns (2016). Emerging Markets Journal, 2016, Available at SSRN: https://ssrn.com/abstract=3392377

Nida Abdioglu (Contact Author)

Bandirma Onyedi Eylul University/ Faculty of Economics and Administrative Sciences ( email )

Balikesir, 10200
Turkey

Here is the Coronavirus
related research on SSRN

Paper statistics

Abstract Views
120
PlumX Metrics