The Effect of Contract Winning Announcement on the Market Value of Firms: An Empirical Research in Borsa Istanbul
Journal Title: The Journal of International Scientific Researches - Year 2017, Vol 2, Issue 7
Abstract
The aim of this study is to determine the effect of contract winning announcements made by companies on the stock returns. In this study, which focuses on this aim, the influence of the 112 contract winning declarations belonging to companies traded in Istanbul Stock Exchange between 2011 and 2016 was examined by event study methodology. As a result of the study, it has been determined that the contract winning announcements generated statistically significant cumulative abnormal returns before and after the date of declaration. It is also revealed that this relationship differs between the groups according to the contract size and the ratio of contract size to company's sales.
Authors and Affiliations
Rıfat Karakuş
Keywords
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- EP ID EP248832
- DOI 10.23834/isrjournal.342052
- Views 80
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