The determinants of acquirer returns in the Turkish stock market

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dc.contributor.authorReis, Ebru
dc.date.accessioned2021-06-16T06:44:30Z
dc.date.available2021-06-16T06:44:30Z
dc.date.issued2015
dc.description.abstractThis study examines the stock market reaction and the determinants of this reaction to the announcements of company acquisitions for acquiring firms in the Turkish Stock Market during the period 1994-2013. Standard event study methodology is used to measure abnormal returns of acquiring companies during the announcement period. Contrary to the findings in the developed markets, the acquirers in Turkey earn a significant positive cumulative abnormal return of 2.27% during an 11-day announcement period. Acquirer returns are higher in mergers compared to acquisitions, and in same business acquisitions compared to unrelated acquisitions. However, no statistically significant evidence is observed for the effect of a target firm's country of origin (domestic vs cross-border), or public status on the acquirer announcement period returns.en_US
dc.fullTextLevelFull Texten_US
dc.identifier.doi10.21773/boun.29.2.2en_US
dc.identifier.issn1300-9583
dc.identifier.scopus2-s2.0-84963548581en_US
dc.identifier.urihttps://hdl.handle.net/11411/3766
dc.identifier.urihttps://doi.org/10.21773/boun.29.2.2
dc.identifier.wosqualityQ4en_US
dc.indekslendigikaynakScopusen_US
dc.issue2en_US
dc.language.isoenen_US
dc.nationalInternationalen_US
dc.numberofauthors1en_US
dc.pages21 - 39en_US
dc.publisherBogazici Universitesien_US
dc.relation.ispartofBogazici Journalen_US
dc.relation.publicationcategoryMakale - Uluslararası Hakemli Dergi - Kurum Öğretim Elemanıen_US
dc.rightsinfo:eu-repo/semantics/openAccessen_US
dc.subjectTurkeyen_US
dc.subjectbusinessen_US
dc.subjectindustrial enterpriseen_US
dc.subjectstock marketen_US
dc.subjectAcquirer returnsen_US
dc.subjectMergers and acquisitionsen_US
dc.titleThe determinants of acquirer returns in the Turkish stock marketen_US
dc.typeArticleen_US
dc.volume29en_US

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