NONLINEAR MARKET BEHAVIOR AT THE ISTANBUL STOCK EXCHANGE.

Advances in Mathematical and statistical methods have increased the use of non-linear methods. Especially after the stock market crash, the non-linear work has become even more important and gained rapid rate of development. Due to the high returns of the stock market stock markets have always been an attractive investment area. On the other hand it's the unpredictable movements of the stock market makes it more risky. However, non-linear methods help to stock market players to create more revenues. In the study, Turkish capital markets, Borsa Istanbul is examined. Turkey is an attractive emerging market for fund managers. The purpose of this paper is to determine the non-linear dependence and events that lead to non-linearity by using the indexes of different sectors at the Borsa Istanbul. To this end, the Hinich portmanteau bi-correlation non-parametric test that uses the windowed testing procedure is applied. [ABSTRACT FROM AUTHOR]