This study examines how stock prices behave following events where firms announce to have no new news but experience large price changes. The Istanbul Stock Exchange (ISE) provides a natural experimental ground for the examination of such an event. The ISE, when there is unusual market activity,...

This study focuses on the valuation of maritime companies. By using Erdogan's (1996) modified capital asset pricing approach for maritime firms, Bollerslev's (1986) General Auto Regressive Conditional Heteroskedasticity Model (GARCH) is adapted along with including the freight market effect in...

This study aims to demonstrate the existence of a conditional correlation between stock markets and maritime markets. Understanding the existence and level of the relationship will help market participants to make their financial decisions more accurately. By using a Constant Correlation Model...