In this paper we provide an empirical analysis of the announcement and implementation of rights issues and stock dividends in the thinly traded Istanbul Stock Exchange. The efficiency of the Turkish market with respect to this information set is tested at different time horizons characterized by...

We investigate the ability of average price-earnings (P/E) ratio and dividend yield as predictors of future returns at the Istanbul Stock Exchange during the 10-year period between 1986-1995. We examine the returns on the ISE Composite Index followed by periods of P/E ratio and dividend yield...

The concern over how trading in futures contracts affects the spot market for underlying assets has been an interesting subject for investors, market makers, academicians and regulators alike. With the introduction of futures contracts in financial markets, the desirability of such derivative...