The Istanbul Stock Exchange (ISE) is an emerging capital market with its unique institutional settings. This research investigates the market reaction to both 'unsweetened' and 'sweetened' rights offerings (with simultaneous distribution of bonus shares) during the announcement and subscription...

We assess the market valuation of an unusual form of stock dividends, referred to as bonus distributions, which are carried out by transferring the accumulated equity reserves, mainly the inflation revaluation equity reserves, to paid‐in capital leaving the total equity unchanged. In the...

Purpose – The purpose of this paper is to investigate the direction of causality between the monthly stock returns and the monthly net foreign investor flows, and the existence of feedback trading by foreign investors for the “blue chip” stocks of the Istanbul Stock Exchange (ISE), an...