The Impact of Tangible Asset Sales on Stock Returns: A Research on Manufacturing Companies Listed in Borsa IstanbulJournal: Business and Economics Research Journal (BERJ) (Vol.11, No. 1)
Publication Date: 2020-01-28
Authors : Neilan Soylu;
Page : 131-146
Keywords : Tangible Asset Sales; Event Study; Restructuring; Abnormal Return; BIST Manufacturing Industry;
Nowadays, due to economic fluctuations, increasing competition and technological development companies need to continuously and rapidly adapt to changing business environment. Furthermore, internal conditions like financial distress or strategy changing make the restructuring inevitable for companies. Within this frame, tangible assets sales might have an effect on firm value both by generating a source of financing and allowing companies to optimize their asset structure. In this study, the impact of tangible assets sales on stock returns of manufacturing companies listed on Borsa Istanbul was examined for the period of January, 2016-December, 2017 using event study method. The empirical results show significant positive average abnormal returns associated with the asset sales on announcement day.
Other Latest Articles
- Suggestion for Transition from Tourism Animation Associate Degree Program to Recreation Undergraduate Program
- Volatility Spillover between Uncertainty in Financial and Commodity Markets and Turkish Stock Market
- Analysis of Expectations and Perceptions of the Customers in Sports and Healthy Life Centers for Service Quality (Sample of Afyonkarahisar Province)
- On the Relationship between Operational Risk and Tunisian Banks Performance: Does the Interaction between the Other Risks Matter?
- Perception of Participation Constraints to Recreational Activities: A case of University Students
Last modified: 2020-01-30 04:37:34