Abstract:

Newcomb   realizes   that   book   of   logarithm   tables   in   library   had   more   wear   and  tear   on   the   first   pages   than   the   others   and   think   that   smaller   digit   are   more  frequent  than  the  bigger  digit.  Benford  gave  mathematical  proof  of  the  idea  of  what  Newcomb  said  and  prove  the  teory  by  using  20  different  example  of  real  life  data.   In   this   study   5934   observation   between   02.01.1990   and   02.12.2013   are  used   to   show   the   distribution   of   first   digit   of   one   day   return   of   BIST-­‐100.   The  results  show  that  one  day  return  fit  Benford’s  Law  which  implies  that  returns  are  not  manipulated.    As  a  result  of  the  study  it  can  be  said  that  one  day  return  of  BIST  agrees  with  Benford’s  law  at  %1  significance  level.       BIST-­‐100  GETİRİLERİ  DAĞILIMININ  BENFORD  KANUNU  İLE  TESTİ

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