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The Effects of Right Offering Announcements on Returns of Shares of Deposit Banks Traded in Ä°stanbul Stock-Exchange

Author

Listed:
  • Selcuk Kendirli

    (Hitit University Faculty of Economics and Administrative Sciences)

  • Muhammet Emin Elmali

    (Hitit University Faculty of Economics and Administrative Sciences)

Abstract

In this study, the impacts of right offerings announcements on the returns of shares are analysed. Right offerings means to have the rigth of receiving new shares in proportion to shares on hand when the corporation issues new shares for outsourcing capital increase. In this study, before and after the right issue announcements, the abnormal returns (AR) of shares of the banks in Istanbul Exchange Market-100 calculated and the return changes are analysed.

Suggested Citation

  • Selcuk Kendirli & Muhammet Emin Elmali, 2016. "The Effects of Right Offering Announcements on Returns of Shares of Deposit Banks Traded in Ä°stanbul Stock-Exchange," Journal of Economic Development, Environment and People, Alliance of Central-Eastern European Universities, vol. 5(1), March.
    • Handle: RePEc:sph:rjedep:v:5:y:2015:i:1:p:
    as

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    References listed on IDEAS

    as
    1. A. Craig MacKinlay, 1997. "Event Studies in Economics and Finance," Journal of Economic Literature, American Economic Association, vol. 35(1), pages 13-39, March.
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    More about this item

    Keywords

    Right Issue; Event study; Abnormal Returns;
    All these keywords.

    JEL classification:

    • D53 - Microeconomics - - General Equilibrium and Disequilibrium - - - Financial Markets
    • G23 - Financial Economics - - Financial Institutions and Services - - - Non-bank Financial Institutions; Financial Instruments; Institutional Investors
    • G24 - Financial Economics - - Financial Institutions and Services - - - Investment Banking; Venture Capital; Brokerage
    • E22 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Investment; Capital; Intangible Capital; Capacity

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