This study examines the long-standing IPO puzzle in the Istanbul Stock Exchange (ISE) by using new factors affecting the performance of IPOs such as source of shares in the IPO (new issue or sale of large shareholders), allocation of shares and dispersion of investors (ownership of foreign...

This paper presents empirical evidence from the Turkish capital market by investigating the risk perception of the companies, their risk management policies and discusses the impact of derivatives on the financial stability in Turkish economy. It focuses on non-financial companies that play a...

Dividend policy behavior of corporations operating in emerging markets is significantly different from the widely accepted dividend policy behavior of corporations operating in developed markets. There has been much discussion in dividend policy, industry ranking by dividend among academicians....

This paper focuses on the informational efficiency of an emerging stock market of a developing country, namely Turkey and also on stock market volatility from two different, but complementary perspective. In the first part, the volatility trend and its term structure throughout the time is...

Dividend policy behavior of corporations operating in emerging markets is significantly different from the widely accepted dividend policy behavior of corporations operating in developed markets. There has been much discussion in dividend policy, industry ranking by dividend among academicians....

We study investor networks in the stock market, through the lens of information network theory. We use a unique account level dataset of all trades on the Istanbul Stock Exchange in 2005, to identify traders who are similar in their trading behavior as linked in an empirical investor network...

Firm-specific trading halts have become a common practice in many international stock markets during the last two decades. However, the effects and effectiveness of trading halts remain controversial among academics and regulators. In this debate, it seems crucial to understand how the trading...

Various seasonal patterns in stock markets have been shown that disappeared, or at least substantially weakened, since they were first documented in 1980s. To detect whether calendar anomalies are still alive or not, this paper investigates all types of seasonalities such as the day-of-the week,...