This paper aims to study in detail the principles and the practices of corporate governance at the Istanbul Stock Exchange (ISE) and in the Turkish capital markets, in reference to the OECD corporate governance principles. The fundamental concepts that relate to the principles of corporate...

Rapid development in international financial markets lead regulatory bodies to establish common supervisory standards. On this respect, Basel II capital adequacy standards bring some obligations to the banks for effective supervision and risk management and force small-medium size enterprises...

This study focuses on the effect of the secondary public offerings of shares by state owned corporations. Extending the views of Megginson and Netter (2001), we investigate whether there is a change in the behavior of excess returns representing the news effect between the state and private...

This study examines the performance of analyst recommendations made for securities listed in the Istanbul Stock Exchange (ISE). We investigate the long-run abnormal returns of a trading strategy that purchases (sells) stocks with the most (least) favorable recommendations. We also examine the...

Many maritime companies in developed shipping countries have floated their stocks on the stock exchanges. Offering equity shares is a fundamental way of funding with respect to pecking order. However, this has not been implemented in Turkish shipping and capital markets until this year. From...

After revieving capital markets efficiency theories and capital asset pricing models, develops an approach that compares the relative efficiency levels of different stock markets. Presents empirical applications, first appraising the efficiency of the Istanbul Stock Exchange in comparison with...

This paper focuses on the economic profit measurement which modifies Stewart's (1990) economic value added (EVA) approach. Considering the cost of capital in a different perspective, an economic profit model is recommended and compared with the EVA in the Turkish stock market. In the calculation...

This study focuses on a certain aspect of substitution effect between FX and stock market investments. The motivation for this approach is that a forecast of future correlations and volatilities is the basis for pricing models, according to Engle (2002). Forecasts are obtained via a methodology...

English Abstract: In many Industries, the largest fırms are most successful in continuing their high profıtability’s and competing an individual market. By using the works by Cournot (1838), Cowling and W atarsan (1976), Clarke&Davies (1982) this study supports that, under duopoly...