Research
Research Interests
Mergers & Acquisitions, Corporate Governance, Corporate Capital Structure, Insider Trading, Market Efficiency, Individual Investors.
Published & Forthcoming Papers
Are blockchain and cryptocurrency M&As harder to close? with Evrim Akdogu. Finance Research Letters 52, 103500.
SSRN Link. Publisher Link. Duke Financial Economics Center FinReg Blog.
SPACs and the regulation gap: The effect of first SEC intervention on share and warrant returns, with Evrim Akdogu and Merve Meric Yilmaz. Finance Research Letters 50, 103316.
The market impact of private information before corporate announcements: Evidence from Turkey, with Koray Simsek. Journal of International Financial Markets, Institutions and Money 80, 101624.
Is short-term debt a substitute for or complementary to good governance? with Deniz Anginer, Aslı Demirgüç-Kunt and Mete Tepe. Borsa Istanbul Review 22, 197-208.
Stock price reaction to debt offerings: The Turkish evidence, with Evrim Akdogu and Burcu Avci. Emerging Markets Finance and Trade 57, 4070-4088.
The effect of unionization on industry merger activity around negative economy-wide shocks, with Evrim Akdogu and Nihat Aktas. International Review of Financial Analysis 76, 101799.
The speed of stock price adjustment to corporate announcements: Insights from Turkey, with Oguz Ersan, Koray Simsek and Afan Hasan. Emerging Markets Review 47, 100778.
Investor reaction to accounting misstatements under IFRS: Australian evidence, with John Goodwin, Yigit Atilgan and Kamran Ahmed. Accounting & Finance 60, 2467-2512.
Deal initiation in mergers and acquisitions, with Ronald Masulis. Journal of Financial and Quantitative Analysis 53, 2389-2430.
SSRN link. Publisher link. Columbia Law School Blue Sky Blog
The effect of CEO departure on target firms’ post-takeover performance: Evidence from not-delisting target firms, with Gul Demirtas. Finance Research Letters 16, 55-65.
Corporate governance and takeover outcomes, with Nihat Aktas and Croci Ettore. Corporate Governance: An International Review 24, 242-252.
Measuring takeover premiums in cross-border mergers and acquisitions: Insights from Turkey, with Hasan Burak Arslan. Emerging Markets Finance and Trade 52, 188-203.
Measuring deal premiums in takeovers, with Harold Mulherin. Financial Management 44, 1-14.
The financial performance of Turkish target firms around acquisitions (Satın alım öncesi ve sonrası Türk hedef şirketlerinin finansal performansı), with Hasan Burak Arslan. İktisat, İşletme ve Finans 29, 9-40.
Working Papers
Prenatal stress and portfolio decisions during adulthood, with Oguz Ersan and Alok Kumar
Research Reports & Other Writings
Sustainability at Borsa Istanbul (Borsa İstanbul’da Sürdürülebilirlik), with Burcu Avcı and Evrim Akdogu. Center of Excellence in Finance, Sabanci University, July 2022. CEF Link.
Initial public offerings and underpricing in Borsa Istanbul (Borsa Istanbul ilk halka arz piyasa dinamikleri ve düşük fiyatlama), with Burcu Avcı and Evrim Akdogu. Center of Excellence in Finance, Sabanci University, June 2020. CEF link.
The corporate bonds market in Turkey (Özel sektör borçlanma araçları piyasası), with Evrim Akdoğu and Burcu Avcı. Center of Excellence in Finance, Sabanci University, June 2019. CEF link.
Management of the corporate sale process (Şirket satış süreci yönetimi), with Oğuzhan Atay. Harvard Business Review Türkiye, October 2017, 112-117. HBR link.
Do mergers and acquisitions create economic value for Turkish acquirers and targets? (Birleşme ve devirler Türk alıcı ve hedef şirketler için ekonomik değer yaratıyor mu?) Center of Excellence in Finance, Sabanci University, June 2017. CEF link.
The natural factor affecting your decisions: Hormones (Kararlarınızı etkileyecek doğal faktör: Hormonlarınız), Harvard Business Review Türkiye Blog, June 2017. HBR link.
The effect of CEO’s personal lives on their corporate financial decisions (Yöneticilerin özel hayatları ve şirketlerinde verdikleri finansal kararlar), Harvard Business Review Türkiye Blog, May 2017. HBR link.