Umutlu, Mehmet
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Name Variants
Job Title
Yrd. Doç. Dr.
Email Address
mehmetumutlu@cankaya.edu.tr
Main Affiliation
İşletme
Status
Former Staff
Website
ORCID ID
Scopus Author ID
Turkish CoHE Profile ID
Google Scholar ID
WoS Researcher ID
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Scholarly Output
4
Articles
6
Citation Count
137
Supervised Theses
0
4 results
Scholarly Output Search Results
Now showing 1 - 4 of 4
Article Citation - WoS: 13Citation - Scopus: 19Firm leverage and investment decisions in an emerging market(Springer, 2010) Umutlu, Mehmet; Umutlu, Mehmet; 38254; İşletmeIn this study, the effect of leverage on investment is analyzed by employing panel data methods for the Turkish non-financial firms that are quoted on Istanbul Stock Exchange. For one-way error component models, it is shown that there is a negative impact of leverage on investment for only firms with low Tobin's Q. These results are in conformity with the previous literature and agency theories of corporate finance stating that leverage has a disciplining role for firms with low growth opportunities. However, when the model is extended to include the time effects in a two-way error component model, the relation between leverage and investment disappears.Conference Object Sector Selection for Cluster Formation at OSTİM Industrial Zone: An AHP Application(2009) Çetinkaya, Ferda Can; Kandiller, Levent; Satır, Benhür; Umutlu, Mehmet; 50129; Endüstri Mühendisliği; İşletmeArticle Citation - WoS: 91Citation - Scopus: 113The degree of financial liberalization and aggregated stock-return volatility in emerging markets(Elsevier Science Bv, 2010) Umutlu, Mehmet; Umutlu, Mehmet; Akdeniz, Levent; Altay-Salih, Aslihan; 38254; 178057; İşletmeIn this study, we address whether the degree of financial liberalization affects the aggregated total volatility of stock returns by considering the time-varying nature of financial liberalization. We also explore channels through which the degree of financial liberalization impacts aggregated total volatility. We document a negative relation to the degree of financial liberalization after controlling for size, liquidity, country. and crisis effects, especially for small and medium-sized markets. Moreover, the degree of financial liberalization transmits its negative impact on aggregated total volatility through aggregated idiosyncratic and local volatilities. Overall, our results provide evidence in favor of the view that the broadening of the investor base due to the increasing degree of financial liberalization causes a reduction in the total volatility of stock returns. (C) 2009 Elsevier B.V. All rights reserved.Article Citation - WoS: 8Citation - Scopus: 6Does ADR listing affect the dynamics of volatility in emerging markets?(Charles Univ-prague, 2010) Umutlu, Mehmet; Umutlu, Mehmet; Altay-Salih, Aslihan; Akdeniz, Levent; 38254; 178057; İşletmeThis paper analyzes the time-series variation in the return volatility of non-US stocks from emerging markets that are cross-listed on US exchanges. Unlike previous studies in the cross-listing literature, return volatility is modeled using conditional heteroscedaslicity models. We find that firms' exposure to risks such as local and global market betas remain unchanged after cross-listing. Moreover, we do not identify notable changes in the dynamics of the volatility of cross-listed stocks after cross-listing except for leverage effects. We further show that the mean level of conditional variance is not affected after cross-listing. Thus, our results provide counter-evidence to the belief that foreign investor participation drives volatility upward.
