Market reaction to director independence at Borsa Istanbul
This study investigates the market reaction to appointments and departures of independent directors to boards and various board committees, as well as the magnitude of the market reaction based to the expertise and busyness of these directors. The findings suggest that investors in Turkish capital m...
| Main Author: | |
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| Format: | Article |
| Language: | English |
| Published: |
Elsevier
2015-12-01
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| Series: | Borsa Istanbul Review |
| Subjects: | |
| Online Access: | http://www.sciencedirect.com/science/article/pii/S2214845015300016 |
| _version_ | 1818024212605960192 |
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| author | Emrah Arioglu |
| author_facet | Emrah Arioglu |
| author_sort | Emrah Arioglu |
| collection | DOAJ |
| description | This study investigates the market reaction to appointments and departures of independent directors to boards and various board committees, as well as the magnitude of the market reaction based to the expertise and busyness of these directors. The findings suggest that investors in Turkish capital markets do not value the existence of independent directors on boards or committees of boards. In addition, the findings suggest that investors do not value the expertise of independent directors. However, investors appear to value the busyness of independent directors. The findings are robust to various model specifications. |
| first_indexed | 2024-12-10T03:56:38Z |
| format | Article |
| id | doaj.art-3029b2fb2cbc4ce5b82291ca9d34faa3 |
| institution | Directory Open Access Journal |
| issn | 2214-8450 |
| language | English |
| last_indexed | 2024-12-10T03:56:38Z |
| publishDate | 2015-12-01 |
| publisher | Elsevier |
| record_format | Article |
| series | Borsa Istanbul Review |
| spelling | doaj.art-3029b2fb2cbc4ce5b82291ca9d34faa32022-12-22T02:03:05ZengElsevierBorsa Istanbul Review2214-84502015-12-0115425927110.1016/j.bir.2015.09.002Market reaction to director independence at Borsa IstanbulEmrah AriogluThis study investigates the market reaction to appointments and departures of independent directors to boards and various board committees, as well as the magnitude of the market reaction based to the expertise and busyness of these directors. The findings suggest that investors in Turkish capital markets do not value the existence of independent directors on boards or committees of boards. In addition, the findings suggest that investors do not value the expertise of independent directors. However, investors appear to value the busyness of independent directors. The findings are robust to various model specifications.http://www.sciencedirect.com/science/article/pii/S2214845015300016IndependenceCorporate governanceBorsa IstanbulExpertiseBusyness |
| spellingShingle | Emrah Arioglu Market reaction to director independence at Borsa Istanbul Borsa Istanbul Review Independence Corporate governance Borsa Istanbul Expertise Busyness |
| title | Market reaction to director independence at Borsa Istanbul |
| title_full | Market reaction to director independence at Borsa Istanbul |
| title_fullStr | Market reaction to director independence at Borsa Istanbul |
| title_full_unstemmed | Market reaction to director independence at Borsa Istanbul |
| title_short | Market reaction to director independence at Borsa Istanbul |
| title_sort | market reaction to director independence at borsa istanbul |
| topic | Independence Corporate governance Borsa Istanbul Expertise Busyness |
| url | http://www.sciencedirect.com/science/article/pii/S2214845015300016 |
| work_keys_str_mv | AT emraharioglu marketreactiontodirectorindependenceatborsaistanbul |