Bankacılık ve Finans Bölümü YayınKoleksiyonu

Permanent URI for this collectionhttps://hdl.handle.net/20.500.12416/400

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Citation Count: Acar, Elif Oznur; Gunalp, Burak; Cilasun, Seyit Mumin, "An empirical analysis of household education expenditures in Turkey", International Journal of Educational Development, Vol. 51, pp. 23-35, (2016).
An empirical analysis of household education expenditures in Turkey
(Pergamon-Elsevier Science LTD, 2016) Acar, Elif Öznur; Günalp, Burak; Cilasun, Seyit Mümin
Using Turkish Household Budget Surveys from 2003, 2007 and 2012, this paper investigates the determinants of household education expenditures within an Engel curve framework. In particular, we estimate Tobit regressions of real educational expenditures by income groups using a number of household characteristics (i.e. rural residence, employment status, age, educational attainment of the household head, household size, share of female students and primary school students in the household, and total number of students in the household) to examine if and to what extent the determinants of educational expenditures differ by income groups; income elasticities of educational spending evolves over time; and children from middle-class and poor families can benefit enough from educational opportunities. The estimated expenditure elasticities have lower values for the top- and the bottom income quartiles while they have larger values for the middle-income quartiles. The results also show that for all income groups the expenditure elasticity of education increases over time, indicating that Turkish households allocates greater share of their budgets to education expenditures. (C) 2016 Elsevier Ltd. All rights reserved.
Citation Count: Ilalan, Deniz, "Elliott wave principle and the corresponding fractional Brownian motion in stock markets: Evidence from Nikkei 225 index", Chaos Solitons & Fractals, Vol. 92, pp. 137-141, (2016).
Elliott wave principle and the corresponding fractional Brownian motion in stock markets: Evidence from Nikkei 225 index
(Pergamon-Elsevier Science LTD, 2016) İlalan, Deniz
This paper examines one of the vital technical analysis indicators known as the Elliott wave principle. Since these waves have a fractal nature with patterns that are not exact, we first determine the dimension of them. Our second aim is to find a linkage between Elliott wave principle and fractional Brownian motion via comparing their Hausdorff dimensions. Thirdly, we consider the Nikkei 225 index during Japan asset price bubble, which is a perfect example of an Elliott wave. (C) 2016 Elsevier Ltd. All rights reserved.
Citation Count: Yıldız, Yılmaz; Karan, Mehmet Baran; Pirgaip, Burak (2017). Market reaction to grouping equities in stock markets: An empirical analysis on Borsa Istanbul. Borsa İstanbul Review, 17(4), 216-227.
Market reaction to grouping equities in stock markets: An empirical analysis on Borsa Istanbul
(Elsevier, 2017) Pirgaip, Burak; Yıldız, Yılmaz; Karan, Mehmet Baha; 252136
The main aim of this study is to investigate the market reaction to stock grouping announcements in Borsa Istanbul which requires stocks to be classified into groups "A ", "B" and "C" according to their market capitalization and floating rates. By utilizing event study analysis, our results suggest that grouping announcements have significant effect on stock prices and trading volume. The event day positive (negative) relationship between abnormal return and volume for the upgraded (downgraded) stocks supports the downward sloping demand curve hypothesis. Moreover, findings also suggest that stocks which are upgraded to Group A are exposed to more attention which is in line with the attention hypothesis. The reverse is valid for the downgraded firms. We find no evidence of price reversals and long-term symmetrical liquidity effect which lead us to reject price pressure and liquidity hypotheses. Finally, we reach controversial evidence for the information hypothesis
Citation Count: İlalan, Deniz; Özel, Özgür (2018). Non-linear unit root testing with arctangent trend: Simulation and applications in finance, Cogent Mathematics, 5(1).
Non-linear unit root testing with arctangent trend: Simulation and applications in finance
(Taylor&Francis AS, 2018) İlalan, Deniz; Özel, Özgür; 234617
We consider arctangent as the logistic function and compute the asymptotic critical values of the related non-linear unit root test via Monte Carlo simulation. While doing so, we got inspiration from some pioneering articles and use first-order Taylor approximation. We observe that this newly proposed test exhibits higher power than some well-known linear and non-linear tests. We apply our test to some stock indexes and find out that a non-linear arctangent trend can be at stage, rather than a linear unit root process.
Citation Count: İlalan, Deniz, "Nonlinearity of Turkish Credit Default Swap Spreads", Journal of Yasar University, Vol. 13, No. 49, pp. 79-85, (2018).
Nonlinearity of Turkish Credit Default Swap Spreads
(2018) İlalan, Deniz
In this paper we analyze the stationarity of Turkish credit default swap (CDS) spreads between 10:2000-08:2017 which is an importantindicator for researchers and practitioners. For our data, although the most widely used linear unit root test namely augmented Dickey Fuller (ADF)test fails to reject the presence unit root, non-linear tests of Kapatenios, Snell and Shin (KSS) and Sollis claim stationarity with a smooth transition.Moreover, we detect asymmetry for the encountered smooth transition. Thus we encourage researchers to apply KSS and Sollis test along with ADFtest in order to understand the driving processes better which will strengthen the predictability and modeling issues of CDS spreads.
Citation Count: Acar, Elif Öznur; Günalp, Burak; Cilasun, Seyit Mümin, "The Effects of Labor Market Reforms on the Labor Market Transitions: Evidence from Turkey*", Finans Politik ve Ekonomik Yorumlar Dergisi, Vol. 53, No. 619, pp. 69-88, (2016).
The Effects of Labor Market Reforms on the Labor Market Transitions: Evidence from Turkey*
(2016) Acar, Elif Öznur; Günalp, Burak; Cilasun, Seyit Mümin; 48566
Bu makalede, işgücü piyasası reformlarının işgücü piyasası performansını belirlemedeki rolünün Gelir ve Yaşam Koşulları Anketi'nin 2006-2010 panel verisi kullanılarak incelenmesi amaçlanmaktadır. Bu doğrultuda, istihdam, işsizlik ve işgücü dışında olma şeklindeki üç farklı işgücü piyasası durumu arasında bireylerin Markov geçiş olasılıkları hesaplanmaktadır. Sonuçlar, 2008 krizi ertesinde uygulamaya koyulan iyileştirici işgücü piyasası politika ve uygulamalarının krizin Türkiye işgücü piyasası üzerindeki olumsuz etkisini hafifletmede rol oynadığına işaret etmektedir. Bu sonuç özellikle hedeflenen genç ve kadınların oluşturduğu dezavantajlı gruplar için çok daha net bir şekilde ortaya çıkmaktadır.

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Browsing Bankacılık ve Finans Bölümü YayınKoleksiyonu by Department "Çankaya Üniversitesi, İktisadi ve idari bilimler Fakültesi, Bankacılık ve Finans Bölümü"