This study tests the presence of the day of the week effect on stock market volatility by using the S&P 500 market index during the period of January 1973 and October 1997. The findings shown that the day of the week effect is present in both volatility and return equations. While the highest...

This paper empirically investigates international mergers and acquisitions (M&As) of foreign targets and bidders by analyzing the stock price behavior of the firms involved. The jump diffusion model is employed to study the effects of the M&A announcements on stock prices. The results indicate...

This study empirically analyses the long-run performances of Turkish industrial IPOs and the factors influencing these performances. The sample consists of 88 firms listed and traded on the Istanbul Stock Exchange during the period of 1990 - 1995. The event study methodology is employed to...

This study reports how country risk and macroeconomic conditions influence the wealth gains of U.S. financial firms involved in international mergers and takeovers. The findings suggest that U.S. financials experience weakly significant wealth gains around announcement date. The wealth gains are...

The purpose of this study is to investigate the effects of stock market rumours/gossips on the prices of stocks traded at the Istanbul Stock Exchange with respect to price pressure and size effect. While positive significant abnormal returns are observed in days prior to the publication date,...