Abstract

Market anomalies in stock markets should be related to investors' trading strategies, which are based on their psychologies along with other factors. The fact that some weather variables affect investor's performance and mood can also affect market prices substantially. In this study it is being investigated if the cloudy days cause Istanbul Stock Exchange 100 Index (ISE 100 Index) returns and the weak form efficiency for ISE a different approach. It has been found that cloudy days do not cause ISE 100 Index returns and also found evidence of weak form efficiency for Turkish stock market.

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