AN OVERVIEW OF INSIDER TRADING IN BORSA ISTANBUL

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Journal of Research in Economics
Volume:3 Issue:2
AN OVERVIEW OF INSIDER TRADING IN BORSA ISTANBUL

AN OVERVIEW OF INSIDER TRADING IN BORSA ISTANBUL

Authors : Özlem AKIN, Gözde Sungu ESEN

Pages : 76-90

View : 10 | Download : 9

Publication Date : 2019-10-27

Article Type : Research Paper

Abstract :W e analyze insider trading patterns in firms listed in Borsa Istanbul using a unique and most comprehensive regulatory dataset for the first time. The dataset provided by Turkey’s Central Securities Depository contains the number and volume of insiders’ buy and sell transactions during the period 2009 – 2015. We observe that insert ignore into journalissuearticles values(i); corporate insiders are active traders in Turkish stock market, insert ignore into journalissuearticles values(ii); the trading patterns vary across different sized firms, and finally, insert ignore into journalissuearticles values(iii); insiders at different positions trade differently. This study enhances understanding of insider trading behavior in an emerging market. Furthermore, our results have important implications for regulatory authorities who are responsible to maintain well-functioning financial markets which will facilitate increased prosperity and economic growth.
Keywords : Insider Tracking, Efficient Markets, Emerging Countries

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