This paper analyses residential demand for internet access in Austria with a focus on broadband internet connections. Austria has a cable network coverage of about 50% and is, therefore, a good candidate to analyse the elasticity of demand for DSL where cable is available and where it is not. We...

The paper describes the main characteristics of ownership structure of the Turkish companies listed on the Istanbul Stock Exchange. We present information on the pyrimidal and complex ownership structures within business groups, on the main owner classes, and on changes in large shareholdings....

The paper studies the dynamics of company profits for 172 of the largest manufacturing firms in Turkey. A time-series analysis is used to estimate the long-run projected profits and firm-specific speed of adjustment parameters that measures the rate at which short-run rents are eroded. While we...

In recent years considerable attention has been devoted to differences across countries in the institutional environments in which corporations operate, and the consequences of these institutional differences for corporate performance. In this paper we test for the presence of differences in...

This paper analyzes the effects of mergers around the world over the past 15 years. We utilize a large panel of data on mergers to test several hypotheses about mergers. The effects of the mergers are examined by comparing the performance of the merging firms with control groups of nonmerging...

Sermaye Piyasası Kurulu 30 Aralık 2011 ve 11 Şubat 2012 tarihlerinde yayınladığı Seri IV, No: 56 ve 57 sayılı tebliğlerle 2003 yılında ‘uy yada açıkla' yaklaşımı ile yayınladığı Kurumsal Yönetim İlkeleri'ni yeniledi ve ilkelerin bir kısmını 654 sayılı kanun...

Note: This paper is a pre-publication version of "Bajic, S. and Yurtoglu, B. (2018), "Which aspects of CSR predict firm market value?", Journal of Capital Markets Studies, Vol. 2 No. 1, pp. 50-69. https://doi.org/10.1108/JCMS-10-2017-0002"There is evidence that corporate social responsibility...

Business groups play a large, sometimes dominant economic role in many countries. A number of studies find an association between firm-level corporate governance and market value, but none study the role of business group identity in firm level corporate governance or the value of “group...

An alternative explanation of why dividends may be informative is put forward in this paper. We find evidence that dividends signal the severity of the conflict between the large, controlling owner and small, outside shareholders. Accordingly, dividend change announcements provide new...

We use investment-cash flow regressions to show that both asymmetric-information and agency problems are more severe in Continental Europe than in the Anglo-Saxon countries leading to too little investment by firms with attractive investment opportunities and too much by those with poor...