{"id":"https://openalex.org/W2909528494","doi":"https://doi.org/10.4018/978-1-5225-3147-0.ch012","title":"Investors' Reactions to the Announcement of New Constituents of BIST Sustainability Index: An Analysis by Event Study and Mean-Median Tests","display_name":"Investors' Reactions to the Announcement of New Constituents of BIST Sustainability Index: An Analysis by Event Study and Mean-Median Tests","publication_year":2017,"publication_date":"2017-11-08","ids":{"openalex":"https://openalex.org/W2909528494","doi":"https://doi.org/10.4018/978-1-5225-3147-0.ch012","mag":"2909528494"},"language":"en","primary_location":{"id":"doi:10.4018/978-1-5225-3147-0.ch012","doi":"https://doi.org/10.4018/978-1-5225-3147-0.ch012","is_oa":false,"landing_page_url":"https://doi.org/10.4018/978-1-5225-3147-0.ch012","pdf_url":null,"source":{"id":"https://openalex.org/S4210225011","display_name":"Advances in business information systems and analytics book series","issn_l":"2327-3275","issn":["2327-3275","2327-3283"],"is_oa":false,"is_in_doaj":false,"is_core":true,"listed_in":["cwts-core"],"host_organization":"https://openalex.org/P4310320424","host_organization_name":"IGI Global","host_organization_lineage":["https://openalex.org/P4310320424"],"host_organization_lineage_names":["IGI Global"],"type":"book series"},"license":null,"license_id":null,"version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"Advances in Business Information Systems and Analytics","raw_type":"book-chapter"},"volume":{"id":"https://openalex.org/W2767994195","display_name":"Value Sharing for Sustainable and Inclusive Development"},"type":"book-chapter","is_traditional":true,"indexed_in":["crossref"],"open_access":{"is_oa":false,"oa_status":"closed","oa_url":null,"any_repository_has_fulltext":false},"authorships":[{"author_position":"first","author":{"id":"https://openalex.org/A5019111724","display_name":"Levent \u00c7\u0131tak","orcid":"https://orcid.org/0000-0002-0854-4454","observed_orcids":["https://orcid.org/0000-0002-0854-4454"]},"institutions":[{"id":"https://openalex.org/I87673952","display_name":"Erciyes University","ror":"https://ror.org/047g8vk19","country_code":"TR","type":"education","lineage":["https://openalex.org/I87673952"]}],"countries":["TR"],"is_corresponding":false,"raw_author_name":"Levent \u00c7\u0131tak","raw_affiliation_strings":["Erciyes University, Turkey"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"Erciyes University, Turkey","institution_ids":["https://openalex.org/I87673952"]}]},{"author_position":"middle","author":{"id":"https://openalex.org/A5027303098","display_name":"Veli Akel","orcid":"https://orcid.org/0000-0002-5723-0910","observed_orcids":["https://orcid.org/0000-0002-5723-0910"]},"institutions":[{"id":"https://openalex.org/I87673952","display_name":"Erciyes University","ror":"https://ror.org/047g8vk19","country_code":"TR","type":"education","lineage":["https://openalex.org/I87673952"]}],"countries":["TR"],"is_corresponding":false,"raw_author_name":"Veli Akel","raw_affiliation_strings":["Erciyes University, Turkey"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"Erciyes University, Turkey","institution_ids":["https://openalex.org/I87673952"]}]},{"author_position":"last","author":{"id":"https://openalex.org/A5007388287","display_name":"Ersan Ersoy","orcid":"https://orcid.org/0000-0003-4079-2834","observed_orcids":["https://orcid.org/0000-0003-4079-2834","https://orcid.org/0000-0002-1050-0602"]},"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":false,"raw_author_name":"Ersan Ersoy","raw_affiliation_strings":["Nev\u015fehir Hac\u0131bekta\u015f Veli University, Turkey"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"Nev\u015fehir Hac\u0131bekta\u015f Veli University, Turkey","institution_ids":["https://openalex.org/I1281109512"]}]}],"institutions":[],"countries_distinct_count":1,"institutions_distinct_count":2,"corresponding_author_ids":[],"corresponding_institution_ids":[],"apc_list":null,"apc_paid":null,"fwci":5.9748,"has_fulltext":false,"cited_by_count":5,"citation_normalized_percentile":{"value":0.95702671,"is_in_top_1_percent":false,"is_in_top_10_percent":true},"cited_by_percentile_year":{"min":87,"max":95},"biblio":{"volume":null,"issue":null,"first_page":"270","last_page":"289"},"is_retracted":false,"is_paratext":false,"is_xpac":false,"primary_topic":{"id":"https://openalex.org/T10047","display_name":"Financial Markets and Investment Strategies","score":0.7178000211715698,"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":0.7178000211715698,"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/T13146","display_name":"Sustainable Finance and Green Bonds","score":0.2142000049352646,"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/T10115","display_name":"Corporate Social Responsibility Reporting","score":0.05790000036358833,"subfield":{"id":"https://openalex.org/subfields/1408","display_name":"Strategy and Management"},"field":{"id":"https://openalex.org/fields/14","display_name":"Business, Management and Accounting"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}}],"keywords":[{"id":"https://openalex.org/keywords/bist-sustainability-index","display_name":"BIST Sustainability Index","score":0.9169999957084656},{"id":"https://openalex.org/keywords/investor-reaction","display_name":"investor reaction","score":0.6549999713897705},{"id":"https://openalex.org/keywords/abnormal-returns","display_name":"abnormal returns","score":0.8289999961853027},{"id":"https://openalex.org/keywords/stock-returns","display_name":"stock returns","score":0.5609999895095825},{"id":"https://openalex.org/keywords/sustainable-investing","display_name":"sustainable investment","score":0.37599998712539673},{"id":"https://openalex.org/keywords/event-study","display_name":"event study","score":0.3889999985694885}],"concepts":[{"id":"https://openalex.org/C2777382242","wikidata":"https://www.wikidata.org/wiki/Q6017816","display_name":"Index (typography)","level":2,"score":0.6823323369026184},{"id":"https://openalex.org/C66204764","wikidata":"https://www.wikidata.org/wiki/Q219416","display_name":"Sustainability","level":2,"score":0.6056095361709595},{"id":"https://openalex.org/C204036174","wikidata":"https://www.wikidata.org/wiki/Q909380","display_name":"Stock (firearms)","level":2,"score":0.5749560594558716},{"id":"https://openalex.org/C144133560","wikidata":"https://www.wikidata.org/wiki/Q4830453","display_name":"Business","level":0,"score":0.4295095205307007},{"id":"https://openalex.org/C162324750","wikidata":"https://www.wikidata.org/wiki/Q8134","display_name":"Economics","level":0,"score":0.32060959935188293},{"id":"https://openalex.org/C41008148","wikidata":"https://www.wikidata.org/wiki/Q21198","display_name":"Computer science","level":0,"score":0.16282868385314941},{"id":"https://openalex.org/C127413603","wikidata":"https://www.wikidata.org/wiki/Q11023","display_name":"Engineering","level":0,"score":0.144924134016037},{"id":"https://openalex.org/C86803240","wikidata":"https://www.wikidata.org/wiki/Q420","display_name":"Biology","level":0,"score":0.11546313762664795},{"id":"https://openalex.org/C18903297","wikidata":"https://www.wikidata.org/wiki/Q7150","display_name":"Ecology","level":1,"score":0.0},{"id":"https://openalex.org/C136764020","wikidata":"https://www.wikidata.org/wiki/Q466","display_name":"World Wide Web","level":1,"score":0.0},{"id":"https://openalex.org/C78519656","wikidata":"https://www.wikidata.org/wiki/Q101333","display_name":"Mechanical engineering","level":1,"score":0.0}],"mesh":[],"locations_count":1,"locations":[{"id":"doi:10.4018/978-1-5225-3147-0.ch012","doi":"https://doi.org/10.4018/978-1-5225-3147-0.ch012","is_oa":false,"landing_page_url":"https://doi.org/10.4018/978-1-5225-3147-0.ch012","pdf_url":null,"source":{"id":"https://openalex.org/S4210225011","display_name":"Advances in business information systems and analytics book series","issn_l":"2327-3275","issn":["2327-3275","2327-3283"],"is_oa":false,"is_in_doaj":false,"is_core":true,"listed_in":["cwts-core"],"host_organization":"https://openalex.org/P4310320424","host_organization_name":"IGI Global","host_organization_lineage":["https://openalex.org/P4310320424"],"host_organization_lineage_names":["IGI Global"],"type":"book series"},"license":null,"license_id":null,"version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"Advances in Business Information Systems and Analytics","raw_type":"book-chapter"}],"best_oa_location":null,"sustainable_development_goals":[],"study_designs":[],"awards":[],"funders":[],"has_content":{"grobid_xml":false,"pdf":false},"content_urls":null,"referenced_works_count":38,"referenced_works":["https://openalex.org/W95008106","https://openalex.org/W1562180358","https://openalex.org/W1573234480","https://openalex.org/W1574295476","https://openalex.org/W1974647811","https://openalex.org/W1978349840","https://openalex.org/W1979652769","https://openalex.org/W1983443286","https://openalex.org/W1994851375","https://openalex.org/W1999064493","https://openalex.org/W2002284289","https://openalex.org/W2019566527","https://openalex.org/W2024552110","https://openalex.org/W2029888506","https://openalex.org/W2030693983","https://openalex.org/W2040047335","https://openalex.org/W2072427260","https://openalex.org/W2077127915","https://openalex.org/W2080467767","https://openalex.org/W2092952731","https://openalex.org/W2104796460","https://openalex.org/W2110360368","https://openalex.org/W2126434683","https://openalex.org/W2146200864","https://openalex.org/W2156244645","https://openalex.org/W2163381782","https://openalex.org/W2164158771","https://openalex.org/W2164639462","https://openalex.org/W2184413817","https://openalex.org/W2186719080","https://openalex.org/W2289969916","https://openalex.org/W2337162962","https://openalex.org/W2464837035","https://openalex.org/W2799783936","https://openalex.org/W3121445015","https://openalex.org/W4251622095","https://openalex.org/W4285719527","https://openalex.org/W6999316164"],"related_works":["https://openalex.org/W4416697463","https://openalex.org/W7113439705","https://openalex.org/W3176823408","https://openalex.org/W4390991145","https://openalex.org/W6981945164","https://openalex.org/W4405351814","https://openalex.org/W4401384357","https://openalex.org/W2958784351","https://openalex.org/W6990454652","https://openalex.org/W7002075346"],"abstract_inverted_index":{"This":[0],"study":[1,77],"investigates":[2],"the":[3,8,73,89,96,140,149,154],"reaction":[4],"of":[5,10,19,27,33,59,62,75,92,156],"investors":[6,138],"to":[7,70,109,113,117,121,125,130],"announcement":[9,97,150],"firms":[11,36,63],"included":[12],"in":[13,43,88,153],"BIST":[14,20,28,34,44,84,141],"Sustainability":[15,29,45,85,142],"Index.":[16],"Stock":[17],"returns":[18,58,82,105],"50":[21,35],"firms,":[22],"which":[23,133],"are":[24,47],"also":[25],"constituents":[26],"Index,":[30,46],"with":[31],"those":[32],"that":[37,137],"could":[38],"not":[39],"qualify":[40],"for":[41,67,83,106],"inclusion":[42],"compared.":[48],"Based":[49],"on":[50],"mean/median":[51],"tests,":[52],"no":[53,79],"significant":[54,80,101],"difference":[55],"between":[56],"various":[57],"two":[60],"groups":[61],"is":[64,134],"found.":[65],"Except":[66],"interval":[68],"0":[69,108,112,116,120,124,129],"+4":[71,110],"days,":[72,111,115,119,123,132],"findings":[74],"event":[76,90],"indicates":[78,100],"abnormal":[81,104],"Index":[86,143],"Constituents":[87,144],"window":[91],"10":[93],"days":[94,127,147],"surrounding":[95],"day,":[98],"but":[99],"positive":[102],"cumulative":[103],"intervals":[107],"+5":[114],"+7":[118],"+8":[122],"+9":[126],"and":[128],"+10":[131],"an":[135],"indication":[136],"valued":[139],"a":[145],"few":[146],"after":[148],"by":[151],"investing":[152],"stocks":[155],"these":[157],"firms.":[158]},"counts_by_year":[{"year":2024,"cited_by_count":1},{"year":2021,"cited_by_count":1},{"year":2020,"cited_by_count":2},{"year":2019,"cited_by_count":1}],"updated_date":"2026-11-12T12:28:57.059296","created_date":"2019-01-25T00:00:00"}