This research investigates the market reaction to both quot;unsweetenedquot; (plain) and quot;sweetenedquot; (with simultaneous distribution of bonus issues) rights offerings during the announcement and subscription periods. Three hypotheses, namely the signaling, the issue price irrelevance and...

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...

In Eurasia, Turkey has a “crony” capitalist system with majority control and business groups (BGs) in the hands of a few families. These business groups are often organised around a holding company. We analyse the dividend payouts of family controlled Borsa Istanbul companies, which are...

This study examines the dividend payout determinants of travel and leisure companies in five Western European countries that are ranked among the world's top 10 tourist destinations, namely, France, Spain, Italy, Germany, and the United Kingdom. The study analyzes the sector and carries out a...

The study finds that growth opportunities, cash flow, and cash flow volatility affect cash holdings positively, while and leisure (TL) sector of the United Kingdom (UK) between 2005 and 2016. The study finds that growth opportunities, cash flow, and cash flow volatility affect cash holdings...

This study examines the dividend policy behavior of Islamic and conventional banks operating in Arab markets. These banks operate in an environment of Sharia law and low levels of investor protection. Our results support the substitution agency model of dividends for Islamic banks, and Islamic...