Demirer, Rıza; Yüksel, Aydın - In: Borsa Istanbul Review 25 (2025) 1, pp. 21-33
Examining the gradual information diffusion hypothesis of Hong et al. (2007)in an emerging market context, we show that industry returns possess predictive information regarding the direction of the aggregate stock market in Borsa Istanbul, both in- and out-of-sample, and that the predictive...