Asymmetric Information Problems In Capital Market Law And Solution Paths

Accurate and complete information and trust are the basic building blocks of the capital market. There is no investment in a market that is not trustworthy. For this reason, information is the way to build the trust of investors. It is the path that links the distances between investor’s trust and the issuer's capital demand. Knowledge brings non-trust to light, while preserving existing trust. As a result, information is for trust. Asymmetric information, in other words the lack of information, prevents to get the efficiency of the expected yield from the market. The market turns inefficient and fruitless. In the framework of asymmetric information theory, it is a modern view that reveals how wrong, fraudulent or incomplete information affects the market and offers solutions to this situation. This theory, which was put forward in 1970, has created wide repercussions in many circles interested in the field of economics and has brought long-term thoughts on economical and judicial circles. These thoughts carried the asymmetric information position beyond the theoretically so that asymmetric information become an indispensable element in the economic field. In addition, asymmetric information has brought a new approach to the principle of investor protection, which is regarded as the fundamental principle of the capital market. In this direction, it has been revealed how important it is for the capital market to resolve the investor's lack of information. Asymmetric information has been regarded as a fundamental element and various solutions have been developed in Turkish law to resolve investor's lack of knowledge so as to maintain existing trust in the market and solve the non-trust