| Article Information |
| Journal: |
Business and Economics Research Journal |
| Title of Article: |
The Impact of Tangible Asset Sales on Stock Returns: A Research on Manufacturing Companies Listed in Borsa Istanbul |
| Author(s): |
Neilan Soylu |
| Volume: |
11 |
| Number: |
1 |
| Year: |
2020 |
| Page: |
131-146 |
| ISSN: |
2619-9491 |
| DOI Number: |
10.20409/berj.2020.240 |
|
| Abstract |
| 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. |
| Keywords: |
Tangible Asset Sales, Event Study, Restructuring, Abnormal Return, BIST Manufacturing Industry |
|
| JEL Classification: |
G14, G34, L60 |
|
