EMG12717 Davranışsal Finans

Genel Bilgi

Dersin Amacı / Hedefi

Bu dersin amacı, davranışsal finansın temellerini ve davranışsal finans prensiplerinin varlık fiyatlama, yatırım ve işletme finansmanı gibi alanlardaki uygulamalarını incelemektir.

Dersin İçeriği

Bu derste etkin piyasa hipotezi ve piyasa anomalileri ile davranışsal finansa ait temel kavramlar ve teoriler incelenecektir.

Dersin Ön Koşulu

Yok

Kaynaklar

1.Shefrin, Hersh (2000), Beyond Greed and Fear: Understanding Behavioral Finance and the Psychology of Investing (First Edition), USA: Harvard Business School Press. 2.Shleifer, Andrei (2000), Inefficient Markets An Introduction to Behavioral Finance (First Edition), Great Britain: Oxford University Press. 3.Shefrin, Hersh(2005), A Behavioral Approach to Asset Pricing, Elsevier Academic Press 4.Döm, Serpil (2003), Yatırımcı Psikolojisi, Değişim Yayınları. İstanbul 5. Karan, Mehmet Baha(2004), Yatırım Analizi ve Portföy Yönetimi, Gazi Kitabevi, Ankara 6. Canbaş, Serpil ve Doğukanlı Hatice(2007), Finansal Pazarlar, Finansal Kurumlar ve Sermaye Piyasası Analizleri, Karahan Kitabevi, Adana 7.Goldberg, Von Nitzsch(2001), Behavioral Finance, John Wiley and Sons.

Notlar

1.Baker, Malcolm ve Jeffrey Wurgler (2006), “Investor sentiment and the cross-section of stock returns”, Journal of Finance, c.61. S.4. ss.1645-1680. 2. Bernard, Victor L. ve Jacob K. Thomas (1989), “Post-earnings-announcement drift: Delayed price response or risk premium?”, Journal of Accounting Research, c.27, ss.1-36. 3.Bikhchandani, Sushil, David Hirshleifer ve Ivo Welch (1998), “Learning from the behavior of others: Conformity, fads, and informational cascades”, Journal of Economic Perspectives, c.12. S.3. ss.151–170. 4.Black, Fischer (1986), “Noise”, Journal of Finance, c.41. S.3. ss.529-543. 5.Bodurtha, James N., Dong-Soon Kim ve Charles M. C. Lee (1995), “Closed-end country funds and U. S. Market sentiment”, Review of Financial Studies, c.8. S.3. ss.879-918. 6.Brown, Gregory W. ve Michael T. Cliff (2004), “Investor sentiment and the near-term stock market”, Journal of Empirical Finance, c.11, ss.1-27. 7.Burch, Timothy R., Douglas R. Emery ve Michael E. Fuerst (2003), “What can “Nine- Eleven” tell us about closed-end fund discounts and investor sentiment”, Financial Review, c.38, ss.515-529. 8.Chan, K. C. (1988),”On the contrarian investment strategy”, Journal of Business, c.61. S.2. ss.147-163. 9.Chang, Eric C., Joseph W. Cheng ve Ajay Khorana (2000), “An examination of herd behavior in equity markets: An international perspective”, Journal of Banking and Finance, c.24, ss.1651-1679. 10.Charoenrook, Anchanda (2003), “Deoes sentiment matter?”, 2004 FMA Annual Meeting – New Orleans, No: 3301937. 11.Chen, Nai Fu, Raymond Kan ve Merton H. Miller (1993a), “Are the discounts on closed-end funds a sentiment index?”, Journal of Finance, c.48. S.2. ss.795-800. 12.Chen, Nai Fu, Raymond Kan ve Merton H. Miller (1993b), ““Yes, the discounts on closed-end funds are a sentiment index: A rejoinder”, Journal of Finance, c.48. S.2. ss.809-810. 13.Chopra, Navin, Charles M. C. Lee, Andrei Shleifer ve Richard H. Thaler (1993a), “Yes, the discounts on closed-end funds are a sentiment index”, Journal of Finance, c.48. s.2. ss.801-808. 14.De Bondt, Werner F. M. ve Richard Thaler (1985), “Does the stock market overreact?”, Journal of Finance, c.40. S.3. ss.793-805. 15.De Long, J. Bradford, Andrei Shleifer, Lawrance H. Summers ve Robert J. Waldmann (1990), “Noise trader risk in financial markets”, Journal of Political Economy, c.98. S.4. ss.703-738. 16.Devenow, Andrea ve Ivo Welch (1996), “Rational herding in financial economics” European Economic Review, c.40, ss.603-615 17.Doukas, John A. Ve Nikolas T. Milonas (2004), “Investor sentiment and the closed-end Fund puzzle: out-of-sample evidence”, European Financial Management, c.10 S.2. ss.235–266. 18.Fisher, Kenneth L. ve Meir Statman (2000), “Investor sentiment and stock returns”, Financial Analysts Journal, c.56. S.2. ss.16-23. 19.Froot, Kenneth A., David S. Scharfstein ve Jeremy C. Stein (1992), “Herd on the street: Informational inefficiencies in a market with short-term speculation”, Journal of Finance, c.47. S.4. ss.1461-1484. 20.Kahneman, D., and A. Tversky. 1979. “Prospect Theory: An Analysis of Decision Under Risk.” Econometrica 47, no. 2: 263–292. 21.Kelly, M. 1997. “Do Noise Traders Influence Stock Prices?” Journal of Money, Credit, and Banking 29, no. 3: 351–363. 22.Kling, G., and L. Gao. 2008. “Chinese Institutional Investors’ Sentiment.” International Financial Markets, Institutions and Money 18, no. 4: 374–387. 23.Lee, Charles M. C., Andrei Shleifer ve Richard H. Thaler (1991), “Investor sentiment and the closed-end fund puzzle”, Journal of Finance, c.46. S.1. ss.75-109. 24.Lim, Sonya Seongyeon (2006), “Do Investors Integrate Losses and Segregate Gains? Mental Accounting and Investor Trading Decisions”, Journal of Business, Cilt: 79, Sayı: 5. 25.Thaler, Richard (1985), “Mental accounting and consumer choice”, Marketing Science, c.4. S.3. ss.199-214. 26.Thaler, Richard (1999), “Mental accounting matters”, Journal of Behavioral Decision Making, c.12, ss.183-206.

Dersin Öğrenme Çıktıları

Program Öğrenme Çıktıları ile İlişkisi

Haftalık Akış

Öğrenci İş Yükü - AKTS