This study examines the long-standing IPO performance in the Istanbul Stock Exchange (ISE) by using new factors such as source of shares (new issue or sale of large shareholders), allocation of shares and dispersion of investors as well as existing factors such as market conditions (hot/cold),...

Genel olarak açık-uçlu yatırım fonları katılma belgelerinin organize ve şeffaf bir piyasa olan Borsa’da işlem görmesini ifade eden “Borsada İşlem Gören Yatırım Fonları” (Exchange Traded Funds) son yıllarda uluslararası piyasalarda hızla büyümekte ve yaygınlaşmakta,...

There is considerable discussion about controlling volatility by imposing price limits on asset prices. We examine the effects of price limits on a stock market by testing the volatility spillover, delayed price discovery, and trading interference hypotheses in a leading emerging market, the...

In spite of the strong existence of price limits in financial markets, there is not much agreement and information on the effects of price limits on volatility and price discovery, which has important policy implications for the investors and regulators. This study examines the effects of price...

This study examines the daily seasonalities in Turkish Money Markets. Day-of-the week effects in overnight interest rates in the Central Bank Interbank Money and Istanbul Stock Exchange Repo Markets are investigated. Results show that overnight interest rates significantly fall on Wednesdays and...

This study examines the patterns in payout policies worldwide. Utilizing data from a sample of more than 17,000 companies from 33 different countries, we find evidence in support of a significant worldwide decline in the propensity to pay dividends. Most of the decline is due to the payout...