Browsing Muhasebe ve Finans Yönetimi / Accounting and Financial Management by KHAS Author "Ersan, Oğuz"
Now showing items 1-3 of 3
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Daily and Intraday Herding within Different Types of Investors in Borsa Istanbul
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Publisher and Date:(Routledge Journals, Taylor & Francis Ltd, 2019)This paper aims to explore the daily and intraday herd behavior of various investor groups trading in an emerging equity market, Borsa Istanbul (BIST). We analyze a one-year tick-by-tick order and trade data of BIST 100 Index stocks and document differences in herding behavior of investor groups considering market capitalization, market conditions, and announcements as well as daily and intraday periodicities. We find that nonprofessional investors (brokerage houses and domestic funds) tend to ...
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Economic Policy Uncertainty And Bank Credit Growth: Evidence From European Banks
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Publisher and Date:(Elsevier B.V., 2020)Using a sample of 2977 private and listed banks in the EU-5 countries (the United Kingdom, Germany, Spain, Italy, France) for the years 2009–2018, this paper explores the impact of Economic Policy Uncertainty (EPU) on credit growth. Using panel data fixed effects methodology and controlling for endogeneity using two-step difference GMM estimators, our findings indicate that uncertainty in economic policies hampers the credit growth of European banks. Our bank type-based analyses indicate that the ...
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The effect of European and global uncertainty on stock returns of travel and leisure companies
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Publisher and Date:(Sage Publications Ltd, 2019)This article aims to evaluate the impact of economic policy uncertainty (EPU) on the STOXX Europe 600 Travel & Leisure Price Index by utilizing a monthly data set for 20 years through 1997-2016. It is found that both the European and the global EPU have significant negative effects on the stock returns of travel and leisure companies. We demonstrate the significantly superior forecasting power of EPU measures on tourism and leisure stock returns relative to a rather weak forecasting power of various ...
