Meslek Yüksek Okulu

Permanent URI for this communityhttps://hdl.handle.net/20.500.12416/285

Browse

Now showing 1 - 20 of 38

Citation Count: Özaydın, Selma. "A Graphical Speech Analysis Teaching Tool", 2022 International Conference on Electrical and Computing Technologies and Applications, ICECTA 2022, 23 November 2022through 25 November 2022, pp. 23-26.
A Graphical Speech Analysis Teaching Tool
(2022) Özaydın, Selma; 253019
The widespread use of digital speech processing in today's technologies causes many electronics and computer engineering students to need a basic background in these subjects. The paper describes a toolbox designed to support undergraduate or graduate level courses on speech processing. The proposed educational toolbox is designed as a virtual lab for basic operations in digital speech processing-based courses. This graphical user interface (GUI) based speech analysis algorithm is built with six main function modules, which are signal input, noise addition, up-sampling/down-sampling, time domain feature analysis, pitch detection and frequency domain analysis. The toolbox involves different operations for measuring important speech feature parameters such as pitch, energy, zero-crossing ratio, FFT and power spectrum of an input speech signal. The toolbox has also been developed to easily manipulate and add some other possible speech processing methods. It is thought that the tool will make it easier for students to understand the methods that form the basis of digital speech processing, increase the interest in the lesson with its visual outputs, and allow new methods to be added easily when desired thanks to its simple and modular structure. The main aim of this paper to show how such a tool facilitates students understanding of technical concepts introduced in speech courses. © 2022 IEEE.
Citation Count: Kılıç,T.; Yavuzel, E. (2023). "A Qualitative Analysis of Human Resources Practices in Yacht Harbors and Marinas in Türkiye", Süleyman Demirel Üniversitesi Vizyoner Dergisi, Vol.14, No.37, pp.139-160.
A Qualitative Analysis of Human Resources Practices in Yacht Harbors and Marinas in Türkiye
(2023) Kılıç, Tamer; Yavuzel, Emre; 261218
The study aims to analyze Human Resources Management (HRM) practices, especially Human Resources (HR) planning methods and to develop suggestions for yacht harbors and marinas in Türkiye. The study population comprises 41 yacht harbors and marinas on the Mediterranean, Aegean, and Marmara coasts. Semi-structured interviews are conducted with the HR managers of the companies. The content analysis method is used, the questions in the interview form are collected under three main themes, and the answers received from the participants are converted into data sets under the same themes. Although there is no HR department, the findings reveal that HR practices are carried out with a modern understanding in most yacht harbors and marinas. HR information systems are used in HR planning, recruitment, selection, performance evaluation, compensation, training, and development. Due to the difficulties in recruiting technical personnel in some companies, there are problems in employing eligible candidates at the right place and time. Since employees with higher education in the sector contribute more, they are primarily preferred in recruitment. As a result, with the HR specialists, significant improvements can be made in HRM, especially the efficiency of HR planning in yacht harbors and marinas.
Citation Count: Özsaçmacı, Bülent; Dursun, Tolga. "A Relationship Marketing Strategy in Brand Communication: Influencer Marketing Strategy", Impacts of Online Advertising on Business Performance, IGI Global, 2020, pp. 52-80.
A Relationship Marketing Strategy in Brand Communication: Influencer Marketing Strategy
(IGI Global, 2020) Özsaçmacı, Bülent; Dursun, Tolga; 19729
Influencer marketing increases brand awareness by generating appropriate content to attract the attention of consumers in a virtual environment in accordance with the brand texture. This chapter explores research to determine importance of influencer marketing in the brand communication area, which is based on relationship marketing. Authors mainly focus on influencer marketing and its connection with relationship marketing. They describe the constituent parts of the topics and illustrate them with the case studies and statistical facts. The authors strongly claim influencer marketing shares similar variables with relationship marketing and their basic keywords are related.
Citation Count: Ökdem, Meltem (2020). "Assessment of Criminal Charges Brought Against Teachers", Journal of Education and Future, No. 17, pp. 83-94.
Assessment of Criminal Charges Brought Against Teachers
(2020) Ökdem, Meltem; 45368
The aim of this study was to assess the charges brought against teachers in criminal courts in Turkey. A qualitative research method was used in the study. The study used the document analysis method because it involved the study of legal documents. In order to determine what cases against teachers were brought to trial between 2004 and 2018, charges filed against teachers were obtained via www.kazancı.com and www.LegalBank.com. databases. The themes in the study were determined in accordance with the Turkish Criminal Law as crimes against the person, crimes against the nation and the state, and crimes against society. The study was initiated as a result of the fact that cases of violence in schools have increased rapidly in recent years. One factor in this is offenses committed by teachers, and this situation will cause grave social problems in the future if no measures are taken. It was found that most charges brought against teachers in the criminal courts were cases related to crimes against the person. This was followed by crimes against the nation and state and crimes against society. The curriculum of Faculties of Education should include courses such as human rights, education law, anger control and conflict management to raise teachers’ awareness of these issues.
Citation Count: Kılıç, Ayşe Funda (2020). "Avrupa İnsan Hakları Sözleşmesinde Önemli Zarar Kriteri ve 15 Numaralı Protokolde Yapılan Değişiklik", Çankaya Üniversitesi Hukuk Fakültesi Dergisi, Vol. 5, No. 1, pp. 2017-2036.
Avrupa İnsan Hakları Sözleşmesinde Önemli Zarar Kriteri ve 15 Numaralı Protokolde Yapılan Değişiklik
(2020) Kılıç, Ayşe Funda; 18421
14 Numaralı Protokolle, AİHS’in kabul edilebilirlik koşullarının yer aldığı 35. maddesine eklenen kriterlerden biri, başvurucunun önemli bir zarara uğramasıdır. Bu kabul edilebilirlik kriteri, insan haklarına saygı ilkesinin başvurunun esastan incelenmesini gerektirmesi veya ihlal iddiasının ulusal mahkeme tarafından gereğince incelenmemiş olması halinde uygulanmamaktadır. 15 Numaralı Protokol bu koruyucu hükümlerden ikincisini Sözleşme metninden çıkarmaktadır. Çalışmada, iki temel sorunsal değerlendirilmektedir. Bunlardan ilki AİHS’de yer alan hak kategorilerinin önemli bir zarar doğmadığı gerekçesiyle koruma kapsamından çıkarılması ve ikincisi Sözleşmenin 15 Numaralı Protokolle değiştirilecek haliyle, bu hakların bütün olarak yargısal denetimin dışına çıkarılmasına olanak tanıyan yeni düzenlemedir.
Citation Count: Özsuca Erenoğlu, E.A.; Acar, E.Ö. (2020). "Can US Wage Increases be Regarded as a Leading Indicator for Bond Rates?", World Journal of Applied Economics, Vol.6, No.2, pp.169-176.
Can US Wage Increases be Regarded as a Leading Indicator for Bond Rates?
(2020) Özsuca Erenoğlu, Ekin Ayşe; Acar, Elif Öznur; 237965; 48566
After the subprime meltdown, the Federal Reserve focused its attention on US non-farm payroll data in order to pave the way for its fund rate hikes. As time went by,the Federal Reserve deemed particularly one sub-component of this data, namely theincrements on average weekly wage growth as a proxy for inflation and thus a plausibleexplanation for raising the interest rates. In that aspect, we decide to elaborate on thisissue further and examine whether this implemented strategy indeed had a reflection inthe real market. For doing so, we intend to determine whether there is any causalityrelation in either direction between US average weekly wage increases and 10-yearTreasury Bond rates. We utilize the Toda-Yamamoto causality approach and comeup with a statistically significant result between wages and bond rates. For robustness,we also consider the unemployment rate and consumption expenditures as independentvariables.
Citation Count: Özaydın, Selma (2018). "Comparative Analysis of Early Studies on Turkish Whistle Language and a Case Study on Test Conditions", Open Journal of Modern Linguistics, Vol. 8, No. 4, pp. 126-136.
Comparative Analysis of Early Studies on Turkish Whistle Language and a Case Study on Test Conditions
(2018) Özaydın, Selma; 253019
This paper examines the early studies on Turkish Whistle Language and it argues that they have some controversial results. The study considers these issues need to be discussed and searched again in terms of linguistic and phonetic form. Unfortunately, there are few research studies on Turkish whistle language and most of them were performed nearly fifty years ago despite the fact that this language still has been used in Kuskoy region. Therefore, the findings of these early research studies could give valuable information to start to a new research study on the subject. The first scientific study on Turkish Whistle language was performed by a French scientist R.G. Busnel with his multidisciplinary research team in 1967. Some of this research’s results were published in the book. A Turkish scientist O. Baskan also participated in Busnel’s research group and published a paper on TWsL in 1968. However, some assertions such as people having a tendency to understand the Turkish whistle language with three vowels and three consonants have not been in the research results of R.G. Busnel. In addition, a Turkish scientist D. Aksan in Turkey had performed another research at Kuskoy region with his own team. Their test methods were different from the previous ones. This paper analyzes these research results on a comparative basis and presents the common and conflicted issues to discuss the uncertain points. The comparative evaluation of these past research studies aims to highlight the controversial position of the results on Turkish Whistle Language. In this scope, this paper opens a discussion about the selection of test conditions for an acoustic and linguistic analysis of the Turkish whistle language.
Citation Count: Özaydın, Selma; Ahmad, Imteyaz (2024). "Comparative Performance Analysis of Filtering Methods for Removing Baseline Wander Noise from an ECG Signal", Fluctuation and Noise Letters.
Comparative Performance Analysis of Filtering Methods for Removing Baseline Wander Noise from an ECG Signal
(2024) Özaydın, Selma; Ahmad, Imteyaz; 253019
ECG signals play a vital role in the diagnosis of cardiovascular conditions. However, they often su®er from the e®ects of various noise sources, including baseline wandering, respiratory artifact noise, power line interference and electrode motion artifacts. To overcome these challenges, it is imperative to implement low-frequency signal noise reduction strategies. Such strategies aim to signi¯cantly improve the quality of ECG signals, thus promoting more accurate and reliable diagnosis of cardiovascular disorders. This paper conducts a comparative analysis to assess the e®ectiveness of commonly used ¯ltering and wavelet techniques in reducing Baseline Wander (BW) noise within ECG signals generated by the in°uence of breathing or electrode movements. It is common to observe the selection and evaluation of only one particular technique in the existing literature. In contrast, this study aims to provide a comprehensive comparative analysis, providing insight into the performance and relative merits of di®erent techniques. Our research uses both ¯ltering and Discrete Wavelet Transform (DWT) techniques in baseline noise removal. In this context, a reference point is established utilizing noise-free signals and a meticulous investigation of the wavelet-based approach that most e®ectively eliminates the resulting noise is provided. Subsequently, we assess the reference input and output signal via Signal-to-Noise Ratio (SNR) and Kolmogorov–Smirnov statistical test measurements. The most important contribution of this work to the scienti¯c community resides in the comprehensive examination of IIR/FIR-based and wavelet method-based ¯ltering methods capable of yielding the highest SNR levels across various ECG signals with various types of BW noise. Additionally, the e®ectiveness of the Chebychev-II ¯lter in BW noise removal is highlighted. Our study was conducted using the MATLAB platform and code command lines were shared to facilitate the reproduction of our study by other researchers. It is considered that this study will be an important reference in the selection of e®ective techniques for removing BW noise within ECG signals.
Citation Count: Özaydın, Selma. "Design of a Voice Activity Detection Algorithm based on Logarithmic Signal Energy", International Conference on Electrical and Computing Technologies and Applications (ICECTA), pp. 19-22, 2022.
Design of a Voice Activity Detection Algorithm based on Logarithmic Signal Energy
(IEEE, 2022) Özaydın, Selma; 253019
This article presents a new method for calculating the signal energies of speech segments in voice activity detection algorithms. In the study, the µ-law signal compression method is adapted to calculate short-term signal energies. A simple voice activity detection (VAD) algorithm is designed to demonstrate the effectiveness of the proposed method. The same VAD algorithm was also run with two different conventional energy calculation formulas and the performance of each VAD was evaluated using time-domain short-time energy features. The G729 standard VAD algorithm was also used for performance comparison. During the test of the analyzed detectors, many kinds of input speech signals with various types of background environmental noise, such as restaurants, vehicles, and streets, were tested. Using the new energy calculation method, the VAD detector has improved detection accuracy compared to VAD detectors based on the other two energy methods and was able to effectively identify voice-active regions even in noisy conditions at low SNR levels. The results revealed that the VAD detector designed with the proposed new energy calculation formula outperforms traditional energy-based voice activity detection methods and provides noticeable increases in detection rate even under adverse conditions.
Citation Count: Erünlü, Zeynep. (2018). "Do Depreciations Really Trigger an Inflow of Foreign Direct Investment? The Case of Turkey", Sosyoekonomi, Vol.26, No.37, pp.257-272.
Do Depreciations Really Trigger an Inflow of Foreign Direct Investment? The Case of Turkey
(2018) Erünlü, Zeynep; 103521
In this study, the relationship between real exchange rate and foreign direct investment is examined using the Logistic Smooth Transition - Autoregressive Distributed Lag (LST-ARDL) model. Analyzing the effect of real exchange rate changes on foreign direct investment is very crucial for a developing country like Turkey which has a relatively large foreign debt stock. The estimation results show that foreign direct investment inflows to Turkey increase when Turkish Lira appreciates against the US dollar and this effect is especially strong during periods of high investment inflows. Thus, for Turkey to attract productive capital flows rather than unstable short-term portfolio flows it has to maintain a strong currency against the US dollar.
Citation Count: Ahmad, Imteyaz; Özaydın, Selma (2023). "ECG Signal Denoising with SciLab", International Journal of Intelligent Systems and Applications in Engineering, Vol. 11, No. 4, pp. 853-859.
ECG Signal Denoising with SciLab
(2023) Ahmad, Imteyaz; Özaydın, Selma; 253019
This paper presents a study on de-noising electrocardiogram (ECG) signals using Scilab, an open-source software package known for its signal processing capabilities. ECG signals are often contaminated by various noise sources, which can reduce the accurate diagnosis and monitoring of heart health. In this work, digital signal processing methods such as Finite Impulse Response (FIR) and Infinite Impulse Response (IIR) filters are used to effectively suppress noise while preserving the essential features of the ECG waveform. We explore main noise sources that commonly affect ECG recordings, such as baseline wandering noise, power-line interference, and muscle artifacts, and discuss their respective challenges. The de-noising methods has been extensively evaluated and demonstrated its ability to improve signal quality and diagnostic accuracy by eliminating noise artifacts. The results highlight Scilab's potential for de-noising ECG signals and its importance in improving patient care and biomedical signal processing applications. The efficacy of the de-noising methods is thoroughly evaluated through comparative analyses with other commonly used de-noising approaches. Experimental results demonstrate its superiority in preserving the QRS complex while efficiently eliminating noise artifacts, leading to more accurate and reliable diagnostic information. In conclusion, this paper presents a comprehensive study on de-noising ECG signals using Scilab, offering a valuable contribution to the field of biomedical signal processing. Researchers and practitioners in the domain of ECG signal processing can benefit from the insights and techniques presented herein to advance their studies and further applications.
Citation Count: Parıltı, N.; Külter Demirgüneş, B.; Özsaçmacı, B. (2014). "Ethical İssues İn Marketing: An Application For Understanding Ethical Decision Making", Vol.38, No.2, pp.245-298.
Ethical İssues İn Marketing: An Application For Understanding Ethical Decision Making
(2014) Parıltı, Nurettin; Külter Demirgüneş, Banu; Özsaçmacı, Bülent; 19729
In recent years business ethics and social responsibility have gained great importance in marketing practices, especially in societal marketing practices. Businesses infinitely struggle to indicate their contributions to society. Consumers consciously evaluate this contribution. Manipulated consumer choices and unethical marketing applications can affect purchasing behavior. Particularly intense competition, globalization and societal consciousness transform businesses into social organizations and lead them into marketing efforts offering social value. Although business ethics and social responsibility of businesses have gained more attention in recent years, defining consumers’ perceptions on ethical issues is still minimal. This study presents an empirical research of consumer perceptions on ethical issues. Reflection of this perception on purchasing behavior is also another important issue to be considered. The aim of this study is to investigate the factors related with ethical issues in marketing practices and to reveal possible influences of these factors on consumers’ ethical decision making. The main objective of the study is to find out consumers’ perceptions on businesses’ ethical issues such as misleading advertising, deceptive packaging and to reveal the impact of these issues on their ethical purchasing behavior or ethical decision making. It also reveals which criteria is more important for ethical decision making. This study reveals that consumers reflect their ethical perceptions on their purchasing behavior. Each ethical issue has been found to be a positive effect on purchasing behavior. Businesses’ practices on packaging has been indicated as the most effective ethical issue on purchasing behavior. The study is considered to be a significant outcome for businesses to direct their advertising, packaging and other activities.
Citation Count: Özaydın, Selma. "Evaluation of Acoustic Phonetic Properties of Turkish Whistle Language", 4.international symposium of philology, 2018.
Evaluation of Acoustic Phonetic Properties of Turkish Whistle Language
(2018) Özaydın, Selma; 253019
Citation Count: Demirgüneş, Banu Külter; Özsaçmacı, Bülent (2016). "EXPLORING THE EFFECT OF CONSUMERS' FOOD-RELATED DECISION MAKING STYLES ON NATIONAL BRAND VS. STORE BRAND CHOICE", PROCEEDINGS OF THE 4TH BUSINESS & MANAGEMENT CONFERENCE, 4th IISES Business and Management Conference, pp. 108-137.
EXPLORING THE EFFECT OF CONSUMERS' FOOD-RELATED DECISION MAKING STYLES ON NATIONAL BRAND VS. STORE BRAND CHOICE
(2016) Demirgüneş, Banu Külter; Özsaçmacı, Bülent; 19729
It is important for marketers to understand the individuals' buying decisions in a competitive environment. The concept of decision making style is one of the key determinants of consumers' behavioral patterns. This study aims to explore the effects of consumers' decision making styles on buying national and store branded food products. To examine consumer decision making styles, Sproles and Kendall's (1986) The Consumer Style Inventory (CSI) is adopted in the study. The framework of this study is based on eight consumer decision making style, expected to shape consumers' national and store brand choice on food products. The empirical analysis is based on data obtained from consumers living in Kirsehir, a city in Turkey. Questionnaires was handed over to 500 customer of retail stores both selling national and their own brands. Firstly, exploratory factor analysis is used to confirm the model, then multiple regression analysis is used to test the hypothesis and to compare consumer's national and store brand choice, in the context of their decision making styles. The study is expected to help retailers develop suitable strategies for national and store branded food products. In fact it is important to develop a certain and an accurate understanding of consumers' decision making styles for successful marketing and advertising strategies. Besides, different marketing strategies for both national and store branded food products can be tailored to the characteristics of consumers.
Citation Count: Özşuca, Ekin Ayşe (2023). "Firm Survival in Times of Crisis: Do Innovation and Financing Constraints Matter? Insights from the COVID-19 Pandemic", Eastern European Economics, Vol. 61, No. 5, pp. 421-456.
Firm Survival in Times of Crisis: Do Innovation and Financing Constraints Matter? Insights from the COVID-19 Pandemic
(2023) Özşuca, Ekin Ayşe; 237965
Utilizing survey data collected over three rounds, this paper investigates the impact of pre-COVID innovation performance, innovation type, sources of knowledge, and the moderating role of financial constraints on survival following the outbreak of COVID-19. The findings pinpoint a strong and positive link between firm survival and innovation, especially process innovation, confirming the ability of innovators to adapt to new conditions as a determinant of survival. Moreover, relying on internal knowledge is found to increase the chance of survival and adaptability to times of crisis. The results further indicate that access to finance strengthens the positive impact of innovation on firm survival/adaptation.
Citation Count: Akagün Ergin, E.; Parıltı, N.; Özsaçmacı, B. (2007). "Impact of Loyalty Cards On Customers’ Store Loyalty", International Business & Economics Research Journal, Vol.6, No.2, pp.77-82.
Impact of Loyalty Cards On Customers’ Store Loyalty
(2007) Akagün Ergin, Elif; Parıltı, Nurettin; Özsaçmacı, Bülent; 120408; 19729
In this paper, we try to determine whether loyalty cards issued by stores have an impact on customer loyalty and how loyalty cards compare with other factors companies can use to increase loyalty in general. Based on the results of the study, it is concluded that loyalty cards have no impact on customers’s store loyalty. On the contrary, it is observed that customers that use their loyalty cards frequently tend to shop at different stores with different loyalty cards.
Citation Count: Akagün Ergin, Elif; Özsaömacı, Bülent. (2014). "Insights into Consumer Preference of Foreign Brand Names: Reality or Myth?", International Journal of Marketing Studies, Vol.6, No.4, pp.157-164.
Insights into Consumer Preference of Foreign Brand Names: Reality or Myth?
(2014) Akagün Ergin, Elif; Özsaçmacı, Bülent; 120408; 19729
This study builds from LeClerc et al.’s (1989, 1994) work on foreign branding effects, but it does so in the context of a developing East European country; as in the case of Turkey. The purpose of this exploratory research is to examine consumers’ attitudes towards products with foreign brand names and also to assess the impact of foreign brand names on the purchasing decision making. In the data collection phase of the study an in-depth interviews were conducted with 23 participants in the city of Ankara, Turkey. The results show that products with foreign brand names elicit more positive consumer attitude than products with national brands. Overall, the findings suggest that consumers prefer to purchase products with foreign brand names for a variety of reasons which including quality, reliability, functionality and prestige. The results have important implications for domestic and foreign manufacturers with regards to the consumer-side effects of their decisions on branding strategies and on their competitive foreign branding decisions.
Citation Count: Özşuca Erenoğlu, Ekin Ayşe. (2018). "Is There a Financial Accelerator Mechanism in the Turkish Banking Industry?", Business and Economics Research Journal, Vol.9, No.4, pp.787-798.
Is There a Financial Accelerator Mechanism in the Turkish Banking Industry?
(2018) Özşuca Erenoğlu, Ekin Ayşe; 237965
This paper empirically investigates the cyclical behavior of price-cost marginsfor Turkish banks over the 2002q1-2017q3 period by exploiting dynamic panel datamodeling approaches. The estimation results indicate that margins behavecountercyclically during economic fluctuations. It appears that Turkish banks’ price-costmargins tend to stay high acting countercyclical during economic downturns, which maylimit the supply of loans and thereby, cause a further reduction in production, deepeningthe contraction. Specifically, several bank-specific characteristics, that is; banks’liquidity, capitalization and size, together with the monetary policy and marketconcentration in the banking industry are found to be crucial in explaining thecountercyclical behavior of net interest margins in Turkey. Furthermore, the recentglobal financial crisis in the late 2008 seems to have a considerable effect on the banksmargins as well. Overall, these findings provide evidence for the existence of “financialaccelerator” at work in the Turkish economy during the period under investigation.
Citation Count: Ökdem, M. (2023). "Mobbing Used Against Teachers By School Administrators: Examples Of Case", Hacettepe Egitim Dergisi, Vol.38, No.1, pp.90-101.
Mobbing Used Against Teachers By School Administrators: Examples Of Case
(2023) Ökdem, Meltem; 45368
Mobbing means psychological violence, siege, harassment, inconvenience or annoyance. Mobbing against a teacher in schools can also negatively affect other teachers and create negativities in their performance. Also, this costs society a lot. It is crucial for teachers raising young people who are our future to work peacefully in their workplace both for themselves and for students. The purpose of this study was to assess mobbing behaviors, which are used by school principals against teachers and are submitted to the court. The study chose the “qualitative” research method. The study reached the mobbing cases opened by teachers against school principals on (www.LegalBank.com). The study investigated the mobbing cases by giving keywords without date restriction. Since the study investigated the court decisions to determine the mobbing behaviors used by school principals against teachers, it used the “document review” method and reached 15 cases between 2010 and 2020 within this scope. As a result of the study the school principals most displayed behaviors in the category of “attacks against professional career” of the teachers. Eight of the cases were attacks against professional career. Then the study reached six mobbing cases against communication. However, the study encountered no behaviors related to “attacks against social relations”. In order to prevent these behaviors, we can recommend the following: Awareness should be raised in teachers concerning psychological harassment/intimidation in schools, seminars should be organized for them to protect from such behaviors via in-service training applications, awareness should be raised in teachers concerning their legal rights, the crime of administrators applying mobbing should be registered and they should not be allowed to get promotion and should be suspended for a certain period of time.
Citation Count: Hasanov, M., Omay, T. (2008). Nonlinearities in emerging stock markets: evidence from Europe's two largest emerging markets. Applied Economics, 40(20), 2645-2658. http://dx.doi.org/10.1080/00036840600970310
Nonlinearities in emerging stock markets: evidence from Europe's two largest emerging markets
(Routledge Taylor&Francis Group, 2008) Omay, Tolga; Hasanov, Mübariz
Recent developments in time series analysis allow proper modelling of nonlinearities in economic and financial variables. A growing body of research was dedicated to investigation of potential nonlinearities in conditional mean of many economic and financial variables, mainly concentrating in developed economies. However, nonlinearities in financial variables in developing economies have not been fully examined yet. In this article we investigate potential nonlinearity and cyclical behaviour of stock returns in Europe's two largest emerging stock markets, mainly in the Greek and Turkish stock markets. Specifically, we use STAR family models, which allow to model nonlinearities in the conditional mean, for modelling monthly returns on stock exchange indices of the Athens Stock Exchange and Istanbul Stock Exchange. Although we find no nonlinearity in conditional variance, we do find strong evidence in favour of nonlinear adjustment of stock returns. It is found that allowing for nonlinearity in conditional mean results in a superior model and provides good out-of-sample forecasts, which contradicts to efficient market hypothesis

Browse

Browsing Meslek Yüksek Okulu by Language "en"