Uluslararası Ticaret ve Finans Bölümü Koleksiyonu
Permanent URI for this collectionhttps://hdl.handle.net/20.500.12469/67
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Browsing Uluslararası Ticaret ve Finans Bölümü Koleksiyonu by Journal "SSRN Electronic Journal"
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Article Citation - WoS: 42Citation - Scopus: 44Bank Credit in Uncertain Times: Islamic Vs. Conventional Banks(Elsevier Ltd, 2020) Bilgin, Mehmet Hüseyin; Danışman, Gamze Öztürk; Demir, Ender; Tarazi, Amine; International Trade and Finance; 03. Faculty of Economics, Administrative and Social Sciences; 01. Kadir Has UniversityThis paper explores whether the impact of economic uncertainty on credit growth differs for Islamic vs. conventional banks. Using a sample of 416 banks (58 Islamic and 358 conventional) in 12 countries, the findings indicate that an increase in economic uncertainty significantly decreases the credit growth of conventional banks but does not have any significant impact on Islamic banks’ credit growth. Our results are robust to alternative specifications and addressing endogeneity concerns using GMM estimators. We further observe that our findings are stronger for the following countries: (1) countries with explicit deposit insurance protection system for Islamic banks, (2) lower foreign dominance, and (3) countries with a higher share of deposits and assets in Islamic banks.Article Citation - WoS: 23Citation - Scopus: 28A Behavioral Analysis of Investor Diversification(Routledge Journals Taylor & Francis Ltd, 2014) Fuertes, Ana-Maria; Muradoğlu, Gülnur; Öztürkkal, Belma; International Trade and Finance; 03. Faculty of Economics, Administrative and Social Sciences; 01. Kadir Has UniversityThis paper studies the link between individual investors' portfolio diversification levels and various personal traits that proxy informational advantages and overconfidence. The analysis is based on objective data from the largest Turkish brokerage house tracking 59951 individual investors' accounts with a total of 3248654 million transactions over the period 2008-2010. Wealthier highly educated older investors working in the finance sector and those trading relatively often show higher diversification levels possibly because they are better equipped to obtain and process information. Finance professionals married investors and those placing high-volume orders through investment centers show poorer diversification possibly as a reflection of overconfidence. Our analysis reveals important nonlinear effects implying that the marginal impact of overconfidence on diversification is not uniform across investors but varies according to the investor's information gathering and processing abilities.Article Citation - WoS: 3Citation - Scopus: 4The Speed of Stock Price Adjustment To Corporate Announcements: Insights From Turkey(Elsevier, 2020) Ersan, Oğuz; Şimşir, Serif Aziz; Şimsek, Koray D.; Afan, Hasan; International Trade and Finance; 03. Faculty of Economics, Administrative and Social Sciences; 01. Kadir Has UniversityThe market reaction speeds to the news flow are currently measured at the millisecond level in developed markets. We investigate, using a unique setting from Turkey, whether the market reaction speeds in less sophisticated markets are on par with those of developed markets. We find that market reaction times to corporate announcements are slower than documented in recent studies, although markets react to positive news more quickly than negative news. When high-frequency traders are more active in the market prior to announcements, the speed of price adjustment is slower. Finally, we find sizable profit opportunities for investors following event-driven strategies.
