Using a non-parametric methodology, this paper analyzes managerial and scale efficiencies in the Jordanian banking sector over the period 1996-2001. The results indicate that the typical Jordanian bank could obtain significant (input and cost) savings should they catch up with the best practice...

This study compares overall financial characteristics of the Turkish nonfinancial firms across a variety of ownership variables. We essentially analyze the performance of affiliates of diversified Turkish business groups relative to unaffiliated firms. We find that group affiliated firms have...

This paper examines the causality between the exchange rates and stock prices in the Middle East and North Africa Region before and after Asian financial crisis. Applying a non-causality testing procedure developed by Toda and Yamamoto (1995), we empirically find that there is a unidirectional...

This paper analyses the role of bank lending in the monetary transmission mechanism in Turkey. We present evidence from a VAR-model estimated with monthly aggregate data covering the period 1986-1998. We find some evidence for the existence of the bank lending channel, though inadequate given...

In this paper, the individual stochastic structure of a log of weekly stock indices from Turkey, Israel, Egypt, Morocco and Jordan of MENA markets are investigated. Results from different unit root tests indicate that all five series seem to contain a stochastic trend and thus are nonstationary...

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...

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...