This article adopts an agency perspective of the firm and reviews the mergers and acquisitions literature from the lens of corporate governance. We highlight how the different corporate governance mechanisms affect the takeover process and outcomes. The internal and external governance...

Short-term debt exposes firms to credit supply shocks and liquidity risk. Short-term debt can also reduce potential agency conflicts between managers and shareholders by exposing managers to more frequent monitoring by the market. This paper examines whether internal monitoring through...

Before their announcements are publicized on the regulatory agency’s Public Disclosure Platform (PDP) website, Turkish public firms privately upload their disclosures to the PDP servers with electronic signatures. Using the electronic signature timestamps of the announcements made between 2009...

Using earthquake exposure during pregnancy as a proxy for in utero insult, we examine the impact of prenatal stress on investment decisions during adulthood. We find that investors exposed to major earthquakes in utero participate less in the stock market and hold less diversified portfolios,...

The market reaction speeds to the news flow are currently measured at the millisecond level in developed markets. We investigate, using a unique setting from Turkey, whether the market reaction speeds in less sophisticated markets are on par with those of developed markets. We find that market...

There is recent interest in the public listing of crypto-currency-based exchange-traded funds. However, the legal and regulatory framework for these funds has not yet been established. In this article, we argue that the legal and regulatory framework for the leveraged commodity funds can serve...

This study documents a significant and positive impact of country-level sustainability scores on cross-border bank-to-nonbank flows. This result is robust after mitigating endogeneity concerns by applying instrumental variable regression, generalized method of moments estimation, Fama-MacBeth...