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© Business & Management Studies: An International Journal, 2019
Dr., Eskişehir Teknik University
Assist. Prof. Dr., Bilecik Şeyh Edebali University
How to Cite
COMPARING PORTFOLIO STRAGIES BASED ON MOMENTUM, MONETARY POLICY AND LARGE PRICE CHANGES: TRAVEL AND LEISURE SECTOR APPLICATION
Vol 7 No 1 (2019): BUSINESS & MANAGEMENT STUDIES: AN INTERNATIONAL JOURNAL
Submitted: Mar 19, 2019
Published: Mar 19, 2019
The travel and leisure sector is examined specifically in the area of finance due to its characteristics. Stock market investments in the travel and leisure sector depends on the highest return at the specific risk level. Investments in the stock market will increase sector's economic growth and employment. The purpose of the study is to compare the performance of different strategies in travel and leisure sector of Turkey. In this study, portfolio switching strategies based on momentum, monetary policy changes and signals of large price changes are examined. Comparisons are made according to the Treynor, Sharpe and Jensen performance measurement criteria. Findings show that active portfolio strategies can be more successful than conventional buy and hold investments. The strategy based on large price changes shows the most successful performance when the other alternatives compared.