Economics at your fingertips  

Market Reaction to Director Busyness and Expertise at Borsa Istanbul

Emrah Arioğlu
Additional contact information
Emrah Arioğlu: Çukurova Üniversitesi

Iktisat Isletme ve Finans, 2015, vol. 30, issue 355, 55-84

Abstract: This study investigates how investors in Turkish capital markets react to the announcements of appointments (departures) of busy and expert directors to (from) boards and audit committees of boards of public firms quoted at Borsa Istanbul. The findings suggest that investors in Turkish capital markets do not value the existence of directors with multiple board memberships and professional expertise highly. Still, the findings do not suggest that markets value the existence of these directors lower than the existence of directors with no additional board seats or no professional expertise. However, market reaction to the departures of busy directors from boards appears to be lower compared to the departures of non-busy directors in the most immediate days surrounding the departure announcements. In addition, investors appear to react positively to the announcements of appointments of financial experts and professors on the announcement days.

Keywords: Busyness; Expertise; Corporate Governance; Borsa Istanbul (search for similar items in EconPapers)
JEL-codes: G34 (search for similar items in EconPapers)
Date: 2015
References: Add references at CitEc
Citations Track citations by RSS feed

There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link:

Ordering information: This journal article can be ordered from ... ew/iif.2015.355.4553

Access Statistics for this article

Iktisat Isletme ve Finans is currently edited by Ali Bilge

More articles in Iktisat Isletme ve Finans from Bilgesel Yayincilik
Series data maintained by Ali Bilge ().

Page updated 2017-09-29
Handle: RePEc:iif:iifjrn:v:30:y:2015:i:355:p:55-84