{"id":"https://openalex.org/W2012155492","doi":"https://doi.org/10.5296/ajfa.v5i1.3216","title":"Evidence to Support Multifactor Asset Pricing Models: The Case of The Istanbul Stock Exchange","display_name":"Evidence to Support Multifactor Asset Pricing Models: The Case of The Istanbul Stock Exchange","publication_year":2013,"publication_date":"2013-04-13","ids":{"openalex":"https://openalex.org/W2012155492","doi":"https://doi.org/10.5296/ajfa.v5i1.3216","mag":"2012155492"},"language":"en","primary_location":{"id":"doi:10.5296/ajfa.v5i1.3216","doi":"https://doi.org/10.5296/ajfa.v5i1.3216","is_oa":true,"landing_page_url":"https://doi.org/10.5296/ajfa.v5i1.3216","pdf_url":"https://www.macrothink.org/journal/index.php/ajfa/article/download/3216/2924","source":{"id":"https://openalex.org/S2764774255","display_name":"Asian Journal of Finance & Accounting","issn_l":"1946-052X","issn":["1946-052X"],"is_oa":true,"is_in_doaj":false,"is_core":true,"listed_in":["anvur-scientific","cwts-core"],"host_organization":"https://openalex.org/P4328141805","host_organization_name":"Macrothink Institute","host_organization_lineage":["https://openalex.org/P4328141805"],"host_organization_lineage_names":["Macrothink Institute"],"type":"journal"},"license":null,"license_id":null,"version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"Asian Journal of Finance &amp; Accounting","raw_type":"journal-article"},"volume":null,"type":"article","is_traditional":true,"indexed_in":["crossref"],"open_access":{"is_oa":true,"oa_status":"diamond","oa_url":"https://www.macrothink.org/journal/index.php/ajfa/article/download/3216/2924","any_repository_has_fulltext":false},"authorships":[{"author_position":"first","author":{"id":"https://openalex.org/A5055528707","display_name":"Ula\u015f \u00dcnl\u00fc","orcid":"https://orcid.org/0000-0003-3272-9341","observed_orcids":["https://orcid.org/0000-0003-3272-9341"]},"institutions":[{"id":"https://openalex.org/I1281109512","display_name":"Nev\u015fehir Hac\u0131 Bekta\u015f Veli University","ror":"https://ror.org/019jds967","country_code":"TR","type":"education","lineage":["https://openalex.org/I1281109512"]}],"countries":["TR"],"is_corresponding":true,"raw_author_name":"Ulas Unlu","raw_affiliation_strings":["Nevsehir University"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"Nevsehir University","institution_ids":["https://openalex.org/I1281109512"]}]}],"institutions":[],"countries_distinct_count":1,"institutions_distinct_count":1,"corresponding_author_ids":["https://openalex.org/A5055528707"],"corresponding_institution_ids":["https://openalex.org/I1281109512"],"apc_list":null,"apc_paid":null,"fwci":3.854,"has_fulltext":true,"cited_by_count":17,"citation_normalized_percentile":{"value":0.93404749,"is_in_top_1_percent":false,"is_in_top_10_percent":true},"cited_by_percentile_year":{"min":88,"max":98},"biblio":{"volume":"5","issue":"1","first_page":null,"last_page":null},"is_retracted":false,"is_paratext":false,"is_xpac":false,"primary_topic":{"id":"https://openalex.org/T10047","display_name":"Financial Markets and Investment Strategies","score":0.9994999766349792,"subfield":{"id":"https://openalex.org/subfields/2003","display_name":"Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},"topics":[{"id":"https://openalex.org/T10047","display_name":"Financial Markets and Investment Strategies","score":0.9994999766349792,"subfield":{"id":"https://openalex.org/subfields/2003","display_name":"Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T12123","display_name":"Financial Analysis and Corporate Governance","score":0.00019999999494757503,"subfield":{"id":"https://openalex.org/subfields/1402","display_name":"Accounting"},"field":{"id":"https://openalex.org/fields/14","display_name":"Business, Management and Accounting"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T10282","display_name":"Financial Risk and Volatility Modeling","score":9.999999747378752e-05,"subfield":{"id":"https://openalex.org/subfields/2003","display_name":"Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}}],"keywords":[{"id":"https://openalex.org/keywords/multifactor-models","display_name":"multi-factor models","score":0.9470000267028809},{"id":"https://openalex.org/keywords/capital-asset-pricing-model","display_name":"capital asset pricing model","score":0.8339999914169312},{"id":"https://openalex.org/keywords/fama-french-three-factor-model","display_name":"Fama-French three-factor model","score":0.8629999756813049},{"id":"https://openalex.org/keywords/fama-french-four-factor-model","display_name":"Fama-French four-factor model","score":0.8669999837875366},{"id":"https://openalex.org/keywords/fama-french-five-factor-model","display_name":"Fama-French five-factor model","score":0.921999990940094},{"id":"https://openalex.org/keywords/borsa-istanbul","display_name":"Borsa Istanbul","score":0.8009999990463257},{"id":"https://openalex.org/keywords/stock-returns","display_name":"stock returns","score":0.890999972820282},{"id":"https://openalex.org/keywords/size-effect","display_name":"size effect","score":0.6880000233650208},{"id":"https://openalex.org/keywords/book-to-market-ratio","display_name":"book-to-market ratio","score":0.968999981880188},{"id":"https://openalex.org/keywords/momentum-effect","display_name":"momentum effect","score":0.8209999799728394},{"id":"https://openalex.org/keywords/liquidity-effect","display_name":"liquidity effect","score":0.6110000014305115},{"id":"https://openalex.org/keywords/risk-premium","display_name":"risk premium","score":0.671999990940094},{"id":"https://openalex.org/keywords/emerging-stock-markets","display_name":"emerging stock markets","score":0.7860000133514404}],"concepts":[{"id":"https://openalex.org/C181236170","wikidata":"https://www.wikidata.org/wiki/Q848354","display_name":"Capital asset pricing model","level":2,"score":0.7734530568122864},{"id":"https://openalex.org/C200870193","wikidata":"https://www.wikidata.org/wiki/Q11691","display_name":"Stock exchange","level":2,"score":0.7261017560958862},{"id":"https://openalex.org/C183582576","wikidata":"https://www.wikidata.org/wiki/Q184783","display_name":"Market liquidity","level":2,"score":0.5834757089614868},{"id":"https://openalex.org/C162324750","wikidata":"https://www.wikidata.org/wiki/Q8134","display_name":"Economics","level":0,"score":0.5615113973617554},{"id":"https://openalex.org/C106159729","wikidata":"https://www.wikidata.org/wiki/Q2294553","display_name":"Financial economics","level":1,"score":0.5387704372406006},{"id":"https://openalex.org/C204036174","wikidata":"https://www.wikidata.org/wiki/Q909380","display_name":"Stock (firearms)","level":2,"score":0.5094864964485168},{"id":"https://openalex.org/C149782125","wikidata":"https://www.wikidata.org/wiki/Q160039","display_name":"Econometrics","level":1,"score":0.49342337250709534},{"id":"https://openalex.org/C2780299701","wikidata":"https://www.wikidata.org/wiki/Q475000","display_name":"Stock market","level":3,"score":0.45820263028144836},{"id":"https://openalex.org/C73858035","wikidata":"https://www.wikidata.org/wiki/Q1164550","display_name":"Market risk","level":2,"score":0.41700485348701477},{"id":"https://openalex.org/C144133560","wikidata":"https://www.wikidata.org/wiki/Q4830453","display_name":"Business","level":0,"score":0.3216703534126282},{"id":"https://openalex.org/C556758197","wikidata":"https://www.wikidata.org/wiki/Q580018","display_name":"Monetary economics","level":1,"score":0.28856050968170166},{"id":"https://openalex.org/C10138342","wikidata":"https://www.wikidata.org/wiki/Q43015","display_name":"Finance","level":1,"score":0.11420759558677673},{"id":"https://openalex.org/C86803240","wikidata":"https://www.wikidata.org/wiki/Q420","display_name":"Biology","level":0,"score":0.0},{"id":"https://openalex.org/C78519656","wikidata":"https://www.wikidata.org/wiki/Q101333","display_name":"Mechanical engineering","level":1,"score":0.0},{"id":"https://openalex.org/C151730666","wikidata":"https://www.wikidata.org/wiki/Q7205","display_name":"Paleontology","level":1,"score":0.0},{"id":"https://openalex.org/C127413603","wikidata":"https://www.wikidata.org/wiki/Q11023","display_name":"Engineering","level":0,"score":0.0},{"id":"https://openalex.org/C2780762169","wikidata":"https://www.wikidata.org/wiki/Q5905368","display_name":"Horse","level":2,"score":0.0}],"mesh":[],"locations_count":1,"locations":[{"id":"doi:10.5296/ajfa.v5i1.3216","doi":"https://doi.org/10.5296/ajfa.v5i1.3216","is_oa":true,"landing_page_url":"https://doi.org/10.5296/ajfa.v5i1.3216","pdf_url":"https://www.macrothink.org/journal/index.php/ajfa/article/download/3216/2924","source":{"id":"https://openalex.org/S2764774255","display_name":"Asian Journal of Finance & Accounting","issn_l":"1946-052X","issn":["1946-052X"],"is_oa":true,"is_in_doaj":false,"is_core":true,"listed_in":["anvur-scientific","cwts-core"],"host_organization":"https://openalex.org/P4328141805","host_organization_name":"Macrothink Institute","host_organization_lineage":["https://openalex.org/P4328141805"],"host_organization_lineage_names":["Macrothink Institute"],"type":"journal"},"license":null,"license_id":null,"version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"Asian Journal of Finance &amp; Accounting","raw_type":"journal-article"}],"best_oa_location":{"id":"doi:10.5296/ajfa.v5i1.3216","doi":"https://doi.org/10.5296/ajfa.v5i1.3216","is_oa":true,"landing_page_url":"https://doi.org/10.5296/ajfa.v5i1.3216","pdf_url":"https://www.macrothink.org/journal/index.php/ajfa/article/download/3216/2924","source":{"id":"https://openalex.org/S2764774255","display_name":"Asian Journal of Finance & Accounting","issn_l":"1946-052X","issn":["1946-052X"],"is_oa":true,"is_in_doaj":false,"is_core":true,"listed_in":["anvur-scientific","cwts-core"],"host_organization":"https://openalex.org/P4328141805","host_organization_name":"Macrothink Institute","host_organization_lineage":["https://openalex.org/P4328141805"],"host_organization_lineage_names":["Macrothink Institute"],"type":"journal"},"license":null,"license_id":null,"version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"Asian Journal of Finance &amp; Accounting","raw_type":"journal-article"},"sustainable_development_goals":[],"study_designs":[],"awards":[],"funders":[],"has_content":{"pdf":true,"grobid_xml":true},"content_urls":{"pdf":"https://content.openalex.org/works/W2012155492.pdf","grobid_xml":"https://content.openalex.org/works/W2012155492.grobid-xml"},"referenced_works_count":39,"referenced_works":["https://openalex.org/W121747557","https://openalex.org/W1493117078","https://openalex.org/W1575641806","https://openalex.org/W1581633122","https://openalex.org/W1971432209","https://openalex.org/W1974037073","https://openalex.org/W1983799793","https://openalex.org/W1986266200","https://openalex.org/W1987234779","https://openalex.org/W1995834279","https://openalex.org/W1998677466","https://openalex.org/W2010997253","https://openalex.org/W2015716299","https://openalex.org/W2029056003","https://openalex.org/W2035897715","https://openalex.org/W2050684865","https://openalex.org/W2066949602","https://openalex.org/W2067529105","https://openalex.org/W2081492482","https://openalex.org/W2083036265","https://openalex.org/W2083148578","https://openalex.org/W2097719201","https://openalex.org/W2101755808","https://openalex.org/W2113305199","https://openalex.org/W2116277545","https://openalex.org/W2116347131","https://openalex.org/W2125520394","https://openalex.org/W2136120210","https://openalex.org/W2149990348","https://openalex.org/W2165173008","https://openalex.org/W2170208137","https://openalex.org/W2173913116","https://openalex.org/W3021190191","https://openalex.org/W3121400309","https://openalex.org/W3122215347","https://openalex.org/W3216651525","https://openalex.org/W4239488419","https://openalex.org/W4300567850","https://openalex.org/W6653015301"],"related_works":["https://openalex.org/W4283455032","https://openalex.org/W111647198","https://openalex.org/W1508873697","https://openalex.org/W1947107549","https://openalex.org/W2908429491","https://openalex.org/W4393314504","https://openalex.org/W323840477","https://openalex.org/W4290888603","https://openalex.org/W7110554805","https://openalex.org/W7110552716"],"abstract_inverted_index":{"The":[0,35],"objective":[1],"of":[2,9,16,38],"this":[3],"study":[4],"is":[5,58],"to":[6,25,64,70,97],"test,":[7],"instead":[8],"the":[10,14,30,42,46,51,65,84,89,93,104],"single":[11],"factor":[12,20,23],"CAPM,":[13],"power":[15],"three":[17],"factor,":[18],"four":[19],"and":[21,74,91],"five":[22,99],"models":[24,40,47],"explain":[26],"stock":[27,86],"returns":[28,87],"for":[29],"Istanbul":[31],"Stock":[32],"Exchange":[33],"(ISE).":[34],"test":[36],"results":[37],"all":[39],"in":[41,62,88],"ISE":[43,90],"indicate":[44],"that":[45,82,92],"are":[48,101],"applicable.":[49],"During":[50],"period":[52],"covering":[53],"July":[54],"1992-June":[55],"2011":[56],"it":[57],"consequently":[59],"established":[60],"that,":[61],"addition":[63],"market":[66,71],"risk,":[67],"size,":[68],"book":[69],"ratio,":[72],"momentum":[73],"liquidity":[75],"factors":[76,81,100],"also":[77],"constitute":[78],"significant":[79],"risk":[80,94],"affect":[83],"expected":[85],"premiums":[95],"belonging":[96],"these":[98],"priced":[102],"by":[103],"market.":[105]},"counts_by_year":[{"year":2025,"cited_by_count":1},{"year":2024,"cited_by_count":1},{"year":2020,"cited_by_count":5},{"year":2019,"cited_by_count":2},{"year":2017,"cited_by_count":1},{"year":2016,"cited_by_count":3},{"year":2015,"cited_by_count":2},{"year":2014,"cited_by_count":1},{"year":2013,"cited_by_count":1}],"updated_date":"2026-11-04T10:54:05.112534","created_date":"2016-06-24T00:00:00"}
