GROSS PROFITABILITY AND 52-WEEK HIGH PRICE
The purpose of the study is to measure the conjoint effect of investment strategy based on gross profitability and 52-week high in Borsa İstanbul for the period 2007-2016. The strategy suggests the investors can profit when they take a long position on stocks with high gross profitability and 52-wee...
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| Format: | Article |
| Language: | English |
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Mehmet Akif Ersoy University
2021-07-01
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| Series: | Mehmet Akif Ersoy Üniversitesi İktisadi ve İdari Bilimler Fakültesi Dergisi |
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| Online Access: | https://dergipark.org.tr/en/download/article-file/1275575 |
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| author | Nesrin Özkan |
| author_facet | Nesrin Özkan |
| author_sort | Nesrin Özkan |
| collection | DOAJ |
| description | The purpose of the study is to measure the conjoint effect of investment strategy based on gross profitability and 52-week high in Borsa İstanbul for the period 2007-2016. The strategy suggests the investors can profit when they take a long position on stocks with high gross profitability and 52-week high, and short position on stocks with low gross profitability and 52-week high. The portfolio method is used in the analysis. The portfolios sorted on 52-week high provide premium but statistically insignificant whereas gross profitability premium is found positively significant. Besides that, the seasonality of profitability returns is observed, though it is weak. When the strategies are analyzed together, the findings exhibit no superior performance of combined strategy despite of positive premium. It may stem from 52-week high effect that is employed as an alternative measure of momentum. This study exhibits a new evidence in the context of the joint effect of strategies. It’s considered that forthcoming researches might focus on the combined performances of the other strategies also by employing alternative measures. |
| format | Article |
| id | doaj-art-d66174a32fce45949df15e248b256427 |
| institution | Kabale University |
| issn | 2149-1658 |
| language | English |
| publishDate | 2021-07-01 |
| publisher | Mehmet Akif Ersoy University |
| record_format | Article |
| series | Mehmet Akif Ersoy Üniversitesi İktisadi ve İdari Bilimler Fakültesi Dergisi |
| spelling | doaj-art-d66174a32fce45949df15e248b2564272025-01-27T14:06:32ZengMehmet Akif Ersoy UniversityMehmet Akif Ersoy Üniversitesi İktisadi ve İdari Bilimler Fakültesi Dergisi2149-16582021-07-018270471910.30798/makuiibf.790900273GROSS PROFITABILITY AND 52-WEEK HIGH PRICENesrin Özkan0https://orcid.org/0000-0002-8674-5518Bursa Uludağ ÜniversitesiThe purpose of the study is to measure the conjoint effect of investment strategy based on gross profitability and 52-week high in Borsa İstanbul for the period 2007-2016. The strategy suggests the investors can profit when they take a long position on stocks with high gross profitability and 52-week high, and short position on stocks with low gross profitability and 52-week high. The portfolio method is used in the analysis. The portfolios sorted on 52-week high provide premium but statistically insignificant whereas gross profitability premium is found positively significant. Besides that, the seasonality of profitability returns is observed, though it is weak. When the strategies are analyzed together, the findings exhibit no superior performance of combined strategy despite of positive premium. It may stem from 52-week high effect that is employed as an alternative measure of momentum. This study exhibits a new evidence in the context of the joint effect of strategies. It’s considered that forthcoming researches might focus on the combined performances of the other strategies also by employing alternative measures.https://dergipark.org.tr/en/download/article-file/127557552-week high pricegross profitabilitynovy-marxturkey52-haftanın yüksek fiyatıbrüt karlılıknovy-marxtürkiye |
| spellingShingle | Nesrin Özkan GROSS PROFITABILITY AND 52-WEEK HIGH PRICE Mehmet Akif Ersoy Üniversitesi İktisadi ve İdari Bilimler Fakültesi Dergisi 52-week high price gross profitability novy-marx turkey 52-haftanın yüksek fiyatı brüt karlılık novy-marx türkiye |
| title | GROSS PROFITABILITY AND 52-WEEK HIGH PRICE |
| title_full | GROSS PROFITABILITY AND 52-WEEK HIGH PRICE |
| title_fullStr | GROSS PROFITABILITY AND 52-WEEK HIGH PRICE |
| title_full_unstemmed | GROSS PROFITABILITY AND 52-WEEK HIGH PRICE |
| title_short | GROSS PROFITABILITY AND 52-WEEK HIGH PRICE |
| title_sort | gross profitability and 52 week high price |
| topic | 52-week high price gross profitability novy-marx turkey 52-haftanın yüksek fiyatı brüt karlılık novy-marx türkiye |
| url | https://dergipark.org.tr/en/download/article-file/1275575 |
| work_keys_str_mv | AT nesrinozkan grossprofitabilityand52weekhighprice |