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Warrant is a type of security that gives the right to buy or sell a certain financial asset or indicator at a predetermined price at a certain maturity. The right to buy or sell a certain financial asset or indicator, which is offered to the investor over a warrant, can be exercised within the maturity or at the end of the maturity period depending on the type of the warrant, with dematerial delivery or cash settlement according to the agreed settlement method. Warrants can be issued on the basis of assets or indicators such as foreign currency, commodities and indices, with the shares of partnerships traded or to be traded on the stock exchange. Warrants, which also have leverage in terms of offering the right to buy or sell financial investment instruments at a very low price compared to the current market price in which they are traded, depending on their type; It can attract the attention of investors with its various features such as increasing demand for supply, offering price assurance, hedging against risk and speculation. At this point, there is a need to evaluate the legitimacy of warrants in terms of Islamic jurisprudential criteria, which is wondering whether they can be an investment alternative for investors with Islamic sensitivities. In this research, warrants, which are accepted in the capital markets as a financial investment alternative, are discussed from a jurisprudential perspective in terms of their contract and transaction characteristics, and in this context, their potential to be an investment tool in Islamic terms is analyzed. As a method, the study is structured in two parts, and in the first part, some introductory information such as the structure of warrants, types, transaction characteristics, opportunities and risks involved are included, and then the subject is evaluated by considering the classical and modern Islamic jurisprudential acquis. [ABSTRACT FROM AUTHOR]

Commodities have crucial importance economically and financially as both a cost input and an investment tool. It is a known fact that commodity prices become a determining factor in stock prices by affecting the production costs of companies directly. In addition, market participants consider commodities both an investment alternative and a safe haven asset in turbulent market conditions. Therefore, commodity price movements have become an indicator followed by both managers and investors in terms of their impact on the general economy and financial markets. This study investigates the short and long- term asymmetric relations between the global commodity price index and BIST sector index prices. The NARDL model was adopted as the research methodology. According to the empirical findings, a long-term nonlinear cointegration relationship was found between the sector indices and the commodity price index. The short- and long-term effects of commodity price increases and decreases differ by sector and exhibit asymmetrical characteristics. Findings indicate that the sectoral effects of commodity prices are heterogeneous, and that the BIST stock market has become integrated with the global commodity markets. Therefore, the results obtained in this study support the phenomenon of financialization of commodity markets. The findings will help investors evaluate the effects of commodity prices on asset allocation and risk management decisions. [ABSTRACT FROM AUTHOR]

With the increasing use of technology, people have had tools and environments where they can easily share their opinions on almost any subject. An important part of these ideas is related to investment issues. Twitter stands out in this regard and constitutes an important data source for many studies. In many studies, the ideas received on Twitter are analysed and price predictions are made for many products. On the other hand, dividend retirement and dividend investing have become extremely attractive especially for individuals in the small investor class in recent years, and accordingly, individuals have tended to this investment channel especially for their children and families. Individuals also share on Twitter platform about these investments they have made and exchange ideas with each other. At this point, people who will prefer the investment type mentioned are sometimes unsure about which companies to invest in. The aim of this study is to determine the dividend companies that Twitter users like and comment the most and to create alternative investment portfolios. Thus, it has been focused on the most mentioned, most liked, most commented, and most directed (retweeted) tweet features in the study. Moreover, a total of five portfolios have been created with the companies identified from the data. The return conditions of these portfolios have been given in the context of Modern Portfolio Theory based on the last year returns of the firms. It has been determined that the portfolio created according to the retweet status creates the best return from the portfolios. It is thought that the portfolios presented within the scope of the study and the investment alternatives they contain will benefit consumers who are interested in dividend investing. [ABSTRACT FROM AUTHOR]

Due to the fact that real estate is the leading store of wealth, real estate investment funds (REIFs) are among the leading "alternative investment instruments", which have rapidly gained importance in recent years. Real estate investments have some advantages as well as negative features to some of which REIFs provide solutions. The main purpose of our study is to put forward suggestions for the development of REIFs, which have been included in our legislation since 2014 and whose number and total fund value have increased remarkably in recent years. These suggestions have been established by means of analyzing the data obtained via face-to-face surveys among the executives of the portfolio management companies that found REIFs. Given both the comprehensive inclusion of the companies that represent almost the entire market into the research and the level of expertise of the participants on REIFs, our research data and results are significant. [ABSTRACT FROM AUTHOR]

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Individuals in developing economies use many alternative investment instruments to protect the purchasing power of national currency against inflation. One of these alternatives is the gold investment. Scientific studies investigate whether or the gold investment decision of individuals is really hedging instrument during the inflationary periods of economies. This study, 'Is it a hedging instrument gold investment in Turkey in inflationary period?' tries to answer its the question. While doing this, 1994-2019 period was analyzed by using gold prices and CPI monthly time series data. In the study, the relationship between gold prices and CPI was investigated with ADF, KPSS and Ng-Perron from of the traditional unit root tests, Lee ve Strazicich unit root test with endogenous structural break, a TodaYamamoto with structural breaks causality test. Our findings, in the period under, review doesn't support the view that an advantage against inflation of gold investment in Turkey. [ABSTRACT FROM AUTHOR]

Importance of gold as an alternative investment tool has raised after the global economic crisis. Increasing risks in financial markets caused the gold to be a hedging instrument against instability and fluctuations. Investors behave differently in normal times and crisis times. In cases where the movements of gold and stock exchange markets are diversified, gold can be used in portfolio diversification, as a tool of hedging and as a safe haven. When the returns of stock market are expected to diminish, investors use the gold as an alternative investment tool. In this context, the aim of this study is to determine if using gold in their portfolio as an alternative investment tool provides benefit for the investors or not. For this purpose, the relationship between gold and stock market is tested using monthly time series data of gold prices and Borsa Istanbul 100 from 2006-April to 2018- August. Before building the model, time series properties of the model are investigated and the best VAR model is selected. Causality relationship between the variables is tested using with Toda-Yamamoto causality test. Return series are calculated in order to be used in the model. According to the results of the study, the hypothesis stating "there is no causality relationship from gold return series to BIST 100 series and there is no causality relationship from BIST 100 series to gold return series" is accepted. In conclusion, it is beneficial for investors to use gold as an alternative investment tool in order to diversify the risks. [ABSTRACT FROM AUTHOR]