EN
Does Market Timing Drive Capital Structure? Empirical Evidence from an Emerging Market
Abstract
The purpose of this study is to test how equity market timing affects capital structure from the perspective of IPO (Initial Public Offering) event in ISE for the period between 1999-2008. Our dataset comprises of all firms (75 firms) that went public from the period of January 1999 to December 2008 in Turkey that are available in ISE database. We analyse the market timing theory by applying cross sectional regression method. For this purpose, first, we test the impact of market timing on the amount of equity issued by IPO firms. Second we examine the impact of market timing on capital structure. We conclude that market timing theory is not valid for Turkey.
Keywords
Details
Primary Language
English
Subjects
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Journal Section
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Publication Date
March 1, 2013
Submission Date
March 1, 2013
Acceptance Date
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Published in Issue
Year 2013 Volume: 3 Number: 1
APA
Çelik, S., & Akarim, Y. D. (2013). Does Market Timing Drive Capital Structure? Empirical Evidence from an Emerging Market. International Journal of Economics and Financial Issues, 3(1), 140-152. https://izlik.org/JA85KU66EX
AMA
1.Çelik S, Akarim YD. Does Market Timing Drive Capital Structure? Empirical Evidence from an Emerging Market. IJEFI. 2013;3(1):140-152. https://izlik.org/JA85KU66EX
Chicago
Çelik, Sibel, and Yasemin Deniz Akarim. 2013. “Does Market Timing Drive Capital Structure? Empirical Evidence from an Emerging Market”. International Journal of Economics and Financial Issues 3 (1): 140-52. https://izlik.org/JA85KU66EX.
EndNote
Çelik S, Akarim YD (March 1, 2013) Does Market Timing Drive Capital Structure? Empirical Evidence from an Emerging Market. International Journal of Economics and Financial Issues 3 1 140–152.
IEEE
[1]S. Çelik and Y. D. Akarim, “Does Market Timing Drive Capital Structure? Empirical Evidence from an Emerging Market”, IJEFI, vol. 3, no. 1, pp. 140–152, Mar. 2013, [Online]. Available: https://izlik.org/JA85KU66EX
ISNAD
Çelik, Sibel - Akarim, Yasemin Deniz. “Does Market Timing Drive Capital Structure? Empirical Evidence from an Emerging Market”. International Journal of Economics and Financial Issues 3/1 (March 1, 2013): 140-152. https://izlik.org/JA85KU66EX.
JAMA
1.Çelik S, Akarim YD. Does Market Timing Drive Capital Structure? Empirical Evidence from an Emerging Market. IJEFI. 2013;3:140–152.
MLA
Çelik, Sibel, and Yasemin Deniz Akarim. “Does Market Timing Drive Capital Structure? Empirical Evidence from an Emerging Market”. International Journal of Economics and Financial Issues, vol. 3, no. 1, Mar. 2013, pp. 140-52, https://izlik.org/JA85KU66EX.
Vancouver
1.Sibel Çelik, Yasemin Deniz Akarim. Does Market Timing Drive Capital Structure? Empirical Evidence from an Emerging Market. IJEFI [Internet]. 2013 Mar. 1;3(1):140-52. Available from: https://izlik.org/JA85KU66EX