In Eurasia, Turkey has a "crony" capitalist system with majority control and business groups (BGs) in the hands of a few families. These business groups are often organised around a holding company. We analyse the dividend payouts of family controlled Borsa Istanbul companies, which are...

The purpose of this study is to investigate the impact of control structures on the value of family-controlled firms in Turkiye, an emerging market. Turkish firms are usually affiliated with family-controlled business groups. Families control business group firms through pyramid structures and...

This research investigates the market reaction to both quot;unsweetenedquot; (plain) and quot;sweetenedquot; (with simultaneous distribution of bonus issues) rights offerings during the announcement and subscription periods. Three hypotheses, namely the signaling, the issue price irrelevance and...

The Istanbul Stock Exchange (ISE) is an emerging capital market with its unique institutional settings. This research investigates the market reaction to both 'unsweetened' and 'sweetened' rights offerings (with simultaneous distribution of bonus shares) during the announcement and subscription...

This study examines the dividend policy behavior of Islamic and conventional banks operating in Arab markets. These banks operate in an environment of Sharia law and low levels of investor protection. Our results support the substitution agency model of dividends for Islamic banks, and Islamic...

This study examines the oil price risk exposure of U.S. financial and non-financial industries over the period of January 1983 to March 2015. We include the oil price risk factor into the Fama and French five-factor asset pricing model and identify the structural breaks in the equity returns...

We assess the market valuation of an unusual form of stock dividends, referred to as bonus distributions, which are carried out by transferring the accumulated equity reserves, mainly the inflation revaluation equity reserves, to paid‐in capital leaving the total equity unchanged. In the...

In this study, we develop a synergistic forecasting model using the information fusion approach. By using high frequency (one-minute) foreign exchange (FX) data, the model fuses two standalone models, namely the technical analysis structural model and the intra-market model. Subsequently, the...

This study examines the value effects of financial and operational hedging in a managed floating exchange rate regime with strict limitations on the trading of Malaysian Ringgit for a sample of 109 Malaysian multinationals from 2004 to 2018. Using Tobin’s Q as a proxy for company value, the...

Dividend policy behaviour of corporations operating in emerging markets is significantly different from the widely accepted dividend policy behaviour of corporations operating in developed markets. This study provides evidence from the Istanbul Stock Exchange (ISE), an emerging European stock...