Empirical evidence indicates that environmental social and governance (ESG) practices are associated with firm financial performance, but little is covered about investors’ attention towards stock performance. In this paper, we conduct a test of the relationship between ESG performance...

This paper aims to develop some static and conditional (dynamic) models to predict portfolio returns in the Borsa Istanbul (BIST) that are calibrated to combine the capital asset-pricing model (CAPM) and corporate governance quality. In our conditional model proposals, both the traditional CAPM...

This study examines the implications of board interlocks on stock liquidity using a sample of listed Brazilian firms. The instrumental variable two-stage least squares estimation is used to minimize endogeneity concerns. This study provides evidence that board interlocks are positively related...

This paper investigates the impact of earnings management on market return (by the proxies of discretionary accruals and earnings response coefficient/CAR regarded as accounting and market based earnings quality, respectively,) along with a number of moderating (both governance and financial)...

Globalization, deregulation, and European Union accession talks triggered a merger wave in Turkish banking. We investigate how this massive restructuring shaped the ownership structure, returns, and risk of target banks. Before the merger wave, 75 percent of target banks were part of a...