This study examines the impact of stock market liquidity on a stock price crash, using firm data from Borsa Istanbul for the period 2009-2019. The results show that higher stock liquidity increases the likelihood of stock price crashes, but this positive link is not driven by blockholder...

This study explores the relationship between the debt maturity structure and the stock price crash risk for nonfinancial firms on the Borsa Istanbul from 2009 to 2019. Family ownership is added to the analyses to provide a new perspective on the literature examining the link between stock price...

This study investigates the effect of short sales on firms' use of trade credit. Using a sample of 3262 Chinese listed firms from 2007 to 2019, the analysis results show that both the deregulation and the magnitude of short sales negatively affect trade credit. The transmission mechanism...

Despite widespread agreement that corporate social responsibility (CSR) should not be motivated only by a desire to increase corporate financial performance (CFP), marketers are aware of the possible links between CSR and CFP. Surprisingly, after decades of empirical investigation, the evidence...

The effect of uncertainty on IPO underpricing, short-term performance after IPO, and hot-and-cold-IPO market cycles have received a great deal of attention in the literature. This study revisits these issues of IPO activities under the Covid-19 pandemic with a focus on the Turkish IPO market....

Over the past decade, one popular way for Turkish banks to remove nonperforming loans (NPLs) from their balance sheets has been to sell them to asset management companies. We examine the short-term market reaction to the announcements of such NPL sales over the period 2009-2019. We also consider...

Islamic bonds (Sukuk) emerged as an innovative capital market instrument over the last decade. This paper investigates the impact of conventional bonds and Sukuk announcement on shareholder wealth and their determinants using 79 Sukuks and 87 conventional bonds over the period of 2004e2012 in...

This paper compares performances of bid-ask spread measures and analyzes bond-level characteristics' effects on the bid-ask spread for Turkish sovereign bonds traded in Borsa Istanbul. We use intraday order data to establish a relative quoted bid-ask spread as a benchmark and compare bid-ask...

Despite the rise in markets for cryptocurrencies at an outstanding pace, with consistently high trading volume and market capitalization, the increasing volatility of the virtual currencies raise various concerns. One of the major concerns is regarding (in)efficiency, viz. whether there exist...

We empirically examine the role of board gender diversity in influencing stock price crash risk at the firm-level in twelve (12) Asia-Pacific Markets. Using a dataset comprising data from 1021 listed firms over the period 2006-2016, we employ a random effect model in a regression setting....