Market reaction to rights offering announcements in the Turkish stock market

Tepe, Mete
This study examines the market reaction to rights offering announcements in Turkey. Even though the topic is extensively studied in the finance literature, there is still research going on for emerging markets. The first part of this study measures market reaction to rights offering announcements for six different information arrival dates. The results are significantly negative except for the case of the announcement of the rights offering period. Additionally, the sample is divided into two sub-periods as before and after the 2001 crisis. The results show that there is a significant difference in market reaction and this difference is attributed to the change in economic policy after the 2001 crisis. The second part of the study examines the determinants of this market reaction and the findings suggest that bonus issues are positively related and there is also evidence that firms time their equity issues. The third part analyzes the long term performance of equity issuing firms in two subgroups as financial and non-financial firms. The results provide evidence of a negative performance and this finding is consistent with the results of previous studies.


The Effect of guerrilla advertising on consumer’s ad attitude and purchase intention: a study on well-known brands
Özkan, Selam Yiğit; Yılmaz, Cengiz; Department of Business Administration (2019)
This thesis aims to explore the role of guerrilla advertising on consumers’ advertisement attitudes and purchase intentions on a Turkish sample and related literature. Interpreted as a breath of fresh air and a differential approach on advertising, guerrilla advertising has been implemented by relevant people in their operations in order to be more competitive and reach more people with less effort in the meaning of time and cost, compared to traditional advertising. Although guerrilla advertising has not b...
Türkiye’de psikoterapistlerin yaklaşımlarının belirlenmesi: Lacan’ın söylemleri çerçevesinde değerlendirme
Gagua, Neli; Özkan, Aylin; Aydoğ, Sezin; Gençöz, Faruk (null, Türkiye Klinikleri; 2019, 2019-01-01)
Bu çalışmada Türkiye'de çalışan psikoterapistlerle yaklaşımlarını belirleme süreçleri ve diğer terapi yaklaşımları ile ilgili düşüncelerinin kendi terapist kimlikleri ve konumları bağlamında ele alındığı görüşmeler yapılmıştır. Katılımcılar terapist olarak tecrübeleri 1 yıl ile 24 yıl arasında değişen toplam 10 kişiden oluşmaktadır. Araştırmanın temelinde yer alan soruyla ilişkili temalarla şekillenen yarı yapılandırılmış görüşmeler, eleştirel söylemsel psikoloji kapsamında analiz edilmiş; bu bağlamda ortay...
The Role of contact in locals` attitudes towards refugees in Turkey
Kahya, Gülin.; Öner Özkan, Bengi; Department of Psychology (2019)
The present study aims to give an understanding on citizens` attitudes towards refugees in Turkey. Specifically, the main purpose is to explain the role of contact in positive and negative attitudes towards refugees. Attitudes Towards Refugees Scale (ATRS) which is a 5-point Likert-Type scale and consisting of two subscales was developed for the current study. The data for current study were collected from locals in several cities where refugees live intensely and interact with locals. 377 participants who ...
The transformation of the religious tradesmen in small cities in the context of market economy : a case of Kırıkkale
Yıldız, Sıtkı; Mutlu, Kayhan; Department of Sociology (2003)
Based on a field study carried out in Kırıkkale, this study investigates the transformation of religious tradesmen of small cities in Turkey with emphases on : (a) the role of religious values within the free market economy of religious tradesmen and (c) the transformation process of religious values within the present economic system. In the study, semistructured in-depth interviews and official documents were used to collect the research data. The thesis of Weber on the relationships between religious val...
Role of investment shocks in explaining business cycles in Turkey
Yüksel, Canan; Voyvoda, Ebru; Department of Economics (2012)
This thesis aims to understand the sources of business cycles observed in Turkish economy. In particular the thesis investigates the role of investment shocks in explaining fluctuations in output. For this purpose a small open economy DSGE model is estimated on Turkish data for 2002-2011 period by Bayesian methods. Variance decomposition analysis shows that permanent technology shock is the key driving force of business cycles in Turkish economy and the role of investment shock is less spelled.
Citation Formats
M. Tepe, “Market reaction to rights offering announcements in the Turkish stock market,” M.S. - Master of Science, Middle East Technical University, 2012.