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Akkaş, ME (2015)

Altın Getirileri Dağılımının Newcomb-Benford Kanunu İle Testi [Testing Distribution of Gold Returns by Newcomb-Benford Law]

Uluslararası Sosyal Araştırmalar Dergisi 8(40), pp. 577-584.

ISSN/ISBN: Not available at this time. DOI: 10.17719/jisr.20154013940

Note - this is a foreign language paper: TUR

Abstract: Newcomb-Benford’s law has been promoted as a simple and effective way that would help for error, fraud and anomaly detection. In this study the conformity of the distribution of first digit of daily return of gold price to Newcomb-Benford’s law is tested with 2225 observation between 03.01.2005 and 28.08.2015. Newcomb-Benford’s Law first digit reference distribution was used in the analysis. The periods before and after the 2010 that gold prices dramatically increase are analyzed comparatively. Day of the week, month of the year and yearly data are also analyzed. As a result of the study, statistically significant results were found that; gold return distribution for the years; 2007 and 2014, and for the month December were not satisfied Newcomb-Benford's Law first digit reference distribution. This results exhibits that Newcomb-Benford’s law is an effective tool for anomaly detection in daily gold return.

@article{, author = {Murat Engin Akkaş}, title = {Altın Getirileri Dağılımının Newcomb-Benford Kanunu İle Testi, [Testing Distribution of Gold Returns by Newcomb-Benford Law]}, year = {2015}, journal = {Uluslararası Sosyal Araştırmalar Dergisi}, volume = {8}, number = {40}, pages = {577--584}, doi = {10.17719/jisr.20154013940}, }

Reference Type: Journal Article

Subject Area(s): Accounting