The systematic risk of IPO’s in the thinly traded Istanbul Stock Exchange (ISE) are estimated using Empirical Bayes Estimators (EBE). The sectors that the firms belong to, provide the priors. Comparisons are made with OLS estimators across different estimation and forecasting periods. Two...

The financial world has discovered the advantages of the Internet immediately. Financial services lend themselves perfectly to electronic media since they do not involve the movement of physical things to achieve clearance and settlement . The need for fast and up to date information has pushed...

Long run returns of IPO firms’ recommendations in Europe reveal possible conflicts of interest and pressures faced by financial analysts over the 1991-2005 period. Nevertheless, recent European legislations about investment research have led to better long run performance of IPO firms’...

This paper analyzes the effects of a potential spillover on technology transfer of a multinational enterprise and on the host country policy. In particular, we examine how both parties' incentives can be controlled through the ownership structure in an international joint venture. In contrast to...

Determinants of default risk of banks in emerging economies have so far received inadequate attention in the literature. Using panel data techniques, this paper seeks to examine the impact of macroeconomic and endogenous factors on non-performing assets for the period from 1997-2009. The...

Determinants of default risk of banks in emerging economies have so far received inadequate attention in the literature. Using panel data techniques, this paper seeks to study the determinants bank asset quality and profitability using robust data sets for the period from 1997-2009. The findings...

Turkey is one of the eight countries that currently have a corporate governance index for firms listed on its main stock exchange (Borsa Istanbul). As in the case of many emerging markets, the country’s business landscape is characterized by family owned conglomerates some of which have...

This paper proposed a theoretical framework of innovation based on the perspective of ownership, and constructed an empirical research system of the relationship between ownership structure and innovation. In view of existing theme scattered and lack of interaction, this paper proposed a...

The article attempts to investigate the role of ownership structure and corporate governance in mitigating agency cost in a sample of 50 firms selected on the basis of market capitalization from “Karachi Stock Exchange” during the period 2003 to 2006. We used the proxy asset utilisation...

The paper presents the actual ownership structure of public companies in Bulgaria on the basis of a survey of 104 of the companies traded on the Bulgarian Stock Exchange. It discusses as well the problems of disclosure of ownership information, focusing on the transposition of the EC Large...