In this study, warrant has been analysed as a financial instrument. Warrants can issues both put and call purposes. Warrants and option are similar in that the two contractual financial instruments allow the holder special rights to buy securities. Warrants are tradable in their own right, and their prices may go up or down. This istrument has been used as a new financial instrument during 2010 and 2011 that it analsed only 49 from them. It can be point out that Abnormal Retuns (AR) and Cumulative Abnormal Return (CAR) has analysed in two aspects for return and standart deviations. Also, the differencies between return and standart deviation of warrant and their financial instruments has analysed by independent sample t test. Finally, it can be clear that, investing on warrant is better than investing for common stocks as a lowest Standard deviations.
Risks of Warrants, comparing returns of warrants