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...

Türkiye’de 2005 yılı başından itibaren faaliyet gösteren Vadeli İşlem ve Opsiyon Borsası (VOB), özellikle finansal vadeli işlem sözleşmeleri açısından iyi bir performans göstermiştir. İşlem hacminin yaklaşık yarısının gerçekleştirildiği döviz vadeli işlem...

This paper focuses on the informational efficiency of an emerging stock market of a developing country, namely Turkey and also on stock market volatility from two different, but complementary perspective. In the first part, the volatility trend and its term structure throughout the time is...

Dividend policy behavior of corporations operating in emerging markets is significantly different from the widely accepted dividend policy behavior of corporations operating in developed markets. There has been much discussion in dividend policy, industry ranking by dividend among academicians....

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...

Dividend policy behavior of corporations operating in emerging markets is significantly different from the widely accepted dividend policy behavior of corporations operating in developed markets. There has been much discussion in dividend policy, industry ranking by dividend among academicians....

Firm-specific trading halts have become a common practice in many international stock markets during the last two decades. However, the effects and effectiveness of trading halts remain controversial among academics and regulators. In this debate, it seems crucial to understand how the trading...

Various seasonal patterns in stock markets have been shown that disappeared, or at least substantially weakened, since they were first documented in 1980s. To detect whether calendar anomalies are still alive or not, this paper investigates all types of seasonalities such as the day-of-the week,...