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Öz/Özet/İçindekiler TABLE OF CONTENTS ACKNOWLEDGEMENTS Ill TABLE OF CONTENTS V-IX LIST OF TABLES X LIST OF FIGURES XI ABSTRACT IV CHAPTER 1 INTRODUCTION CHAPTER 2 INSTITUTIONAL CHARACTERISTICS OF THE ISTANBUL STOCK EXCHANGE 2.A. Volume of Turkish Stock Exchange in Comparison with Other Emerging and Developed Markets 7 2.B. History 10 2.C. Organization 15 2.D. Listing 16 2.E. Delisting 18 2.F. Different Markets within the Exchange 19 2.G. Sales 20 2.H. Trading System 22 2.1. Settling and Clearing 23 2.J. Investment Partnerships and Investment Mutual Funds 24 2.K. Short Sales 2.L. Foreign Investment 25 2.M. Taxes 26 2.N. Company Reports 27 2.0. Insider Trading : 28 2.P. Problems of the Istanbul Stock Exchange and Suggestions for Further Development 28 CHAPTER 3 STATISTICAL AND DISTRIBUTIONAL PROPERTIES OF THE TURKISH STOCKS 3.A. Literature Review 32 3.B. Data and Descriptive Test Statistics 50 3.C. Results of the Daily and the Weekly Data 62 3-D. Results of the Daily Data before and after August 11, 1989 73 CHAPTER 4 DIVERSIFICATION AND EFFECTIVE PORTFOLIO FORMATION 4.A. Literature Review 83 4.B. Data and Methodology 90 4.C. Results and Discussion 92 CHAPTER 5 CONCLUSION 99 REFERENCES 103 APPENDIX Detailed Tables 115.