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Karavardar, A (2014)

Benfordís Law and an Analysis in Istanbul Stock Exchange (BIST)

International Journal of Business and Management, 9(4), pp. 160-172.

ISSN/ISBN: Not available at this time. DOI: 10.5539/ijbm.v9n4p160



Abstract: Benfordís Law, which has a logaritmic base, is a simple but an effective analytical examination tool for researchers. It makes researchers determine abnormalities in numerical data clusters. Benfordís Law as a numerical analytic test is a mathematical comparison which proves unnatural deviations in data analysis. For that reason, it has various application areas such as auditing and finance. Investors may use Benfordís Law for finding out financial frauds and abuses. This paper aims to test stock market indexes and stock values in Istanbul Stock Exchange (BIST) whether they fellow Benfordís Law of Anomalous Numbers or not. All indexesí closing values and stocksí closing values, stocksí monthly gains and losses were also examined. In this study, it was found that series of monthly gains and losses on the twenty-eight indexes reasonably agree with Benfordís Law.


Bibtex:
@article{, TITLE = {Benfordís Law and an Analysis in Istanbul Stock Exchange (BIST)}, AUTHOR = {Karavardar, Alper}, JOURNAL = {International Journal of Business and Management}, VOLUME = {9}, NUMBER = {4}, PAGES = {160--172}, YEAR = {2014}, DOI = {10.5539/ijbm.v9n4p160}, URL = {http://www.ccsenet.org/journal/index.php/ijbm/article/view/32731}, NOTE = {Last Viewed: 7/7/2014} }


Reference Type: Journal Article

Subject Area(s): Economics