Affiliation:
1. Akdeniz Üniversitesi İktisadi ve İdari Bilimler Fakültesi
2. AKDENIZ UNIVERSITY
Abstract
This paper aims to evaluate how the participation companies perform in Turkey during the period of 2016 to 2020. The study uses daily returns for evaluating performance for portfolios and companies. The evidence from the returns of 102 companies, consists of 1256 observations. The study adopts the CAPM extended to Fama and French model to evaluate six portfolios of companies and denoted that all portfolios from participation companies show better performance than the market during the period under review. It shows that the larger the size and value of the portfolio, or the smaller the size and value, the more efficient the performance is. Besides, the results show that most companies outperformed the market benchmark. This study contributes to analyzing performance of hundred and two types of participation companies, that are relevant and important for Turkish and foreign investments.
Publisher
Erzincan Binali Yildirim Universitesi Iktisadi ve Idari Bilimler Fakultesi Dergisi
Subject
Applied Mathematics,General Mathematics
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