dc.contributor.authors |
Hanedar, Avni Onder; Hanedar, Elmas Yaldiz; Goktan, Mehmet Gokhan |
|
dc.date.accessioned |
2022-12-20T13:25:07Z |
|
dc.date.available |
2022-12-20T13:25:07Z |
|
dc.date.issued |
2022 |
|
dc.identifier.issn |
1544-6123 |
|
dc.identifier.uri |
http://dx.doi.org/10.1016/j.frl.2022.102767 |
|
dc.identifier.uri |
https://hdl.handle.net/20.500.12619/99200 |
|
dc.description |
Bu yayının lisans anlaşması koşulları tam metin açık erişimine izin vermemektedir. |
|
dc.description.abstract |
Using efficient market hypothesis and structural break frameworks, this paper examines insider trading during the Ottoman sovereign default, as historical narratives claim information leakage. If the narratives were true, informed traders would sell the Ottoman government's bonds to avoid excessive losses before the default, creating a negative price shock in case of market inefficiency. This paper employs the Ottoman General Debt Bond prices in Istanbul, London, and Paris compiled from Ottoman and European newspapers. The results do not confirm price shocks just before the sovereign default announcement. Thus, investors seem to have anticipated the default before its official declaration. |
|
dc.language |
English |
|
dc.language.iso |
eng |
|
dc.relation.isversionof |
10.1016/j.frl.2022.102767 |
|
dc.subject |
Business & Economics |
|
dc.subject |
Ottoman empire |
|
dc.subject |
Sovereign default |
|
dc.subject |
Structural break |
|
dc.subject |
Sovereign bond |
|
dc.subject |
Insider trading |
|
dc.title |
Insider trading on Ottoman sovereign default: The Ottoman General Debt Bond at European and Istanbul financial markets |
|
dc.contributor.authorID |
hanedar, elmas yaldız/0000-0002-2996-3498 |
|
dc.identifier.volume |
47 |
|
dc.relation.journal |
FINANCE RESEARCH LETTERS |
|
dc.identifier.doi |
10.1016/j.frl.2022.102767 |
|
dc.identifier.eissn |
1544-6131 |
|
dc.contributor.author |
Hanedar, Avni Onder |
|
dc.contributor.author |
Hanedar, Elmas Yaldiz |
|
dc.contributor.author |
Goktan, Mehmet Gokhan |
|
dc.relation.publicationcategory |
Makale - Uluslararası Hakemli Dergi - Kurum Öğretim Elemanı |
|