Dilvin Taşkın

Yaşar University · Finance

All related economic actors have been interested in combating climate change as consistent with developing interest in environmental issues. In this context, R&D investment funds can be highly beneficial in developing environmental patents, which may have a key role in solving environmental problems. Accordingly, the study analyzes the marginal eff...

In the contemporary landscape of global finance and corporate governance, Environmental, Social, and Governance (ESG) characteristics have emerged as pivotal factors influencing investment decisions and shaping the strategies of businesses. This chapter examines the multifaceted aspects of ESG, offering a comprehensive exploration of its definition...

Environmental pollution has become highly important for countries and societies because climate change and global warming are stimulated by increasing carbon dioxide (CO2) emissions. Hence, all related parties have been searching for solutions. Considering the high role of energy use in causing CO2 emissions, energy-related research and development...

The topic of public debt sustainability is very relevant in the present context when developing countries are experiencing a continuous rise in their public debt stocks with unprecedented pressures on their primary balances. In such context, we aim in this study to examine public debt sustainability in a large sample of developing countries, using...

Considering the energy crisis in Europe and searching for alternatives, this study investigates the impact of clean electricity generation (EG) types on the environment. So, the study focuses on EU-5 countries (Germany-DEU, Spain-ESP, France-FRA, United Kingdom-GBR, and Italy-ITA), uses CO 2 emissions as environmental indicator, and considers clean...

The COVID-19 pandemic has posed considerable difficulties for the shift to clean energy sources. COVID-19’s potential impact on the global energy transition has received scant scholarly attention so far. This research aims to explore the impact of renewable energy consumption and renewable power generation on sustainable economic development in dev...

This research analyzes the dynamic relationship between green bonds, energy prices, geopolitical risk, and CO2 emissions. In doing so, the study examines the global scale at disaggregated (i.e., sectoral) level, applies a novel time and frequency-based approach (i.e., wavelet local multiple correlation-WLMC), and uses high-frequency daily data betw...

In this paper, we examine for the first time in the literature the implications of energy policy alternatives for Germany considering the aftermath of coronavirus as well as Electricity and Gas energy supply shortages. Whilst several policy options are open to the government, the choice of investment in renewable energy generation versus disinvestm...

The role of financial development is vital in long-run economic growth. Due to the windfall revenues it might have extra relevance in natural resource-rich developing economies. This study explores whether financial development, measured in the percentage share of the bank loans to the private sector in GDP, can facilitate the impact of oil rents o...

The study analyzes the asymmetric nexus of coal consumption with environmental quality and economic growth. In this context, the study focuses on 8 leading emerging countries that take place in BRICS, E7, and Fragile Five groups. Also, the study uses yearly data from 1989 to 2021 and performs novel quantile methods, such as Granger Causality-in-Qua...

This chapter identifies the role of macroeconomic and financial policies in climate change mitigation in developing economies. The developing economies are continuously facing macroeconomic and financial stabilization policy issues, while the financial structure and new green investment projects are in close alignment with climate change mitigation...

Purpose This paper aims to investigate the relationship between sustainable investments and a series of uncertainties from January 2014 to December 2021, including many economic and political turbulences and the COVID-19 pandemic. Design/methodology/approach The authors use Rényi’s transfer entropy method, a nonparametric flexible tool that consid...

In this paper, companies listed on the Borsa Istanbul (BIST) Sustainability Index are analyzed by performing a cluster analysis based on their environmental, social, and governance (ESG) scores. The results prove that firms with higher ESG ratings do not necessarily perform well in all ESG aspects. The outcomes of the cluster analysis reveal that f...

This paper investigates the volatility connectedness between ten major agribusiness common stock prices and various agricultural commodity prices between August 11, 2005, and November 4, 2022. We employ the time-varying parameter vector autoregressions (TVP-VAR) extended joint connectedness framework. The results show that agribusiness stocks are n...

Purpose The purpose of this study is to examine the dynamic connectedness and volatility spillovers between commodities and corporations exhibiting the best environmental, social and governance (ESG) practices. In addition, the authors determine the optimal hedge ratios and portfolio weights for ESG and commodity investors and portfolio managers....

The connection between the green economy, technology, and finance has recently become a popular topic for analyzing economic and policy matters. Financial technology can provide not only an opportunity to tap into new pools of private capital to finance green and sustainable projects through innovative financial instruments but also provide support...

Although a few studies have analyzed the nexus of renewable energy and green finance, the literature lacks the use of renewable energy by sources. The other major failure is that it uses only annual and small data. Therefore, this study investigates the connectedness and spillovers relationship between green finance and five types of renewable ener...

The literature has mainly relied on an annual and short span of data to analyze the relationship between energy, environmental and financial indicators. This study analyzes the relationship between energy efficiency, energy research, pollution mitigation, and FinTech by applying two novel methods-the causality test in the frequency domain [11] and...

Even though energy poverty has been widely discussed in many countries, only a few studies attempt to understand the nexus of race and energy poverty. To fill the gap in the literature, this study analyses the effect of race on energy poverty by employing the U.S. representative household panel data with 9043 complete surveys. This research address...

The literature lacks enough evidence on the nexus of green finance and clean energy although the terms ‘green’ and ‘clean’ have been eminent concepts in sustainable development. Therefore, the fundamental objective of this study is to carry out the causal relationship among green finance, clean energy, environmental responsibility, and green techno...

This paper investigates the impact of financial development on sustainable economic development (SED) in low-middle-income countries. It adopts an unbalanced panel data approach on 50 low-and middle-income countries over the period of 1991–2020. We apply Fixed effects (FE), the feasible generalized least squares (FGLS) and bootstrap panel quantile...

Financial intermediation is one of the vital determinants of long-run economic growth. It might carry extra relevance in natural resource-rich developing economies, challenged by the long-term negative effects of windfall revenues, namely the resource curse. This study explores whether financial development can facilitate the role of oil rents in t...

This chapter provides insights on the underlying reasons to replace the conventional methods with contemporary approaches—the neural network-based machine learningMachine learning methods—in financial fraudFinancial fraud detection. To do this, we perform a systematic literature reviewSystematic Literature Review on the evolution of financial fraud...

Even though poverty is highly felt in developing economies, the lack of relevant and complete micro-level data limits understanding which households are more exposed to poverty and the role of financial inclusion in poverty in these countries. This research analyzes the effects of financial inclusion proxied by a multidimensional index on three pov...

This chapter focuses on the sources and strategies for financing for new product development and small businesses. It is clear that every venture has different life cycles and it is evident that a different financing strategy is needed in different stages of the life cycle. Despite the general belief that entrepreneurs can find financial resources...

Compliance is the necessity to meet the regulatory obligations for a company and it requires the organization to embed a culture that will affect the attitude of people within the organization to act in line with the regulations. Compliance also indicates accountability and an obligation to sustain relevant codes of conduct (Singh and Bussen 2015).

Recent evidence points to global warming and climate change as the biggest issues of the century; thus, the analysis of the weather-commodity futures prices relationship has crucial importance. This paper considers the relationship between weather anomalies, proxied by the Global Historical Surface Temperature Anomalies (HadCRUT4), and futures pric...

We investigate the impact of asymmetric information on the investment decision of firms and analyze the effect of asymmetric information on the over-investment and under-investment of firms. Further, we examine the effect of leverage on the investment behavior of firms and check this association in the presence of asymmetric information. We extract...

This study examines the effects of financial inclusion on energy poverty using the 2018 Turkish Household Budget and Consumption Expenditure Surveys. The study adopts three different measures of energy poverty and then analyzes the impact of financial inclusion proxied by a multidimensional index on energy poverty using different estimation strateg...

The development of economies and energy usage can significantly impact the carbon dioxide (CO2) emissions in the Middle East and North Africa (MENA) countries. Therefore, this study aims to analyze the factors that determine CO2 emissions in MENA under the environmental Kuznets curve (EKC) framework by applying novel quantile techniques on data for...

In this paper, we investigate the volatility spillover effect among the global commodity futures (including both energy and metal futures; global stock markets (covering both Developed and Emerging Markets); the US bond market and the US Dollar index by employing the dynamic connectedness approach of (Diebold and Yilmaz, 2012, 2014) based on the ti...

The Corporate Social Responsibility (CSR) debate has long focused on multinational corporations (MNCs) driven primarily by a western-centric conception, whereas the debate has remained largely limited for small-medium sized enterprises (SMEs) (Jamali et al. 2009). Even though SMEs may not have huge impacts on the economy individually, their collect...

This study replicates and extends the results presented in a top-cited article in this journal, Inglesi-Lotz (2016), which analyzes the impact of renewable energy consumption to economic growth for the OECD countries by applying the ordinary least squares with fixed effect estimator on the data from 1990 to 2010. By using the same data and methods,...

Recent financial turmoil raised suspicions about the impact of derivatives usage on banking stability. Considering the period between 2007 and 2017, this paper analyzes the impact of derivatives on the financial stability and performance of the Turkish banking system. The stability of the banking is measured by considering the Z-index, which shows...

The number of studies that highlight demand-side and supply-side of environmental degradation are quite limited in the literature. The aim of this study is to analyze the energy-growth-environment nexus in cooperation with globalization, urbanization, life expectancy and biocapacity as control variables by using both consumption-based and productio...

Purpose The development of green economy is of academic and policy importance to governments and policymakers worldwide. In the light of the necessity of renewable energy to sustain green economic growth, this study aims to examine the relationship between renewable energy consumption and green economic growth, controlling for the impact of trade o...

This paper investigates the impact of financial crisis on the determinants of bank interest rate margin (NIM) in Turkey over the period 1995-2018. Turkey witnessed two recent major economic crises, a local crisis in 2001 and the global crisis in 2008. The sample period is divided into three sub-periods: pre-crisis period (1995-2001), post-local cri...

Purpose: To investigate the implications of the Adaptive Market Hypothesis (AMH) on Turkish stock exchange market (Borsa Istanbul) indices as an emerging economy. BIST-100, BIST-30 and BIST-All indices are subjected to the analyses for the period between January 2002 and April 2017. Design/Methodology/Approach: Two-year rolling windows and daily t...

The aim of this paper is to investigate the long and short-run relationship between spot and futures prices of the energy, precious metals, and base metals markets. We analyze daily data from January 1985 to February 2019. The empirical findings based on the cointegration test, which follows a nonlinear process, suggest that the spot prices of ener...

This study examines the role of cleaner energy, technological innovation and militarization on green economic growth (GEG) under different economic conditions in the context of Turkey. To this end, we apply Autoregressive Distributed Lags (ARDL) under the assumption of symmetric and asymmetric adjustment approaches to analyse a time series data ove...

Atatürk Üniversitesi İktisadi ve İdari Bilimler Dergisi, Nisan 2019, Cilt: 33, Sayı:2... In this paper, we examine the long-run relationship between Dollar Index and foreign exchange rates of ‘Fragile Five’ economies, respectively. We analyze foreign exchange rates of Turkey, Indonesia, Brazil, South Africa, India, and weighted average of the fore...

Corporate governance principles are trying to ensure reliable and well-functioning firms and sound financial systems, thus well-governed firms are expected to be performing better than their counterparts. The aim of this paper is to analyze the impact of corporate governance applications on operating performance and share performance of companies t...

This paper investigates the herding behavior of mutual fund managers in Turkey by using monthly data for the period from March 2014 to April 2017. We collect data from the monthly reports of 18 common stock mutual funds. First, we use the herding measure (Hi,t) that was developed by Lakanishok, Shleifer and Vishny (1992) to point out the stock pick...

This paper aims to examine the relationship between profitableness of Turkish banking system and online banking, telephone banking and credit cards In this study, total net profit for the period in Turkish banking system considered as an independent variable by trimesters, and online banking, telephone banking and credit cards, tested to see whethe...

The aim of this paper is to analyze the link and the direction of the relationship between financial development and economic growth in Turkey and BRICS countries for the period of 1994-2011. Moreover, the paper divides the financial market into two sub-markets as banking sector and stock market to examine their individual impact on economic growth...

The aim of this paper is to analyze the bidirectional relationship between CSR practices of Turkish banks and their financial performance which is proxied by ROE, ROA and NIM for the year 2013. Content analysis is used to analyze the degree of CSR level based on a CSR index calculation and the link between performance and CSR level is investigated....

ABSTRACT: Following the global financial crisis, savings rate to GDP ratio in Turkey declined to severe levels. The Banking Regulation and Supervision Agency of Turkey took various macro-prudential measures to limit the retail loans in the banking sector to support the policies for increasing the savings rate. The aim of this paper is to analyze th...

Bu çalışma, 2001 krizi sonrası, Türk bankacılık sektöründe finansal istikrarın gelişimi ile sistemdeki rekabet ilişkisini incelemektedir. 2003-2013 dönemi için bir finansal sağlamlık endeksi hesaplanmış; ardından Panzar-Rosse (1987) modeli ile piyasa rekabeti ölçülmüştür. Bankacılık sistemindeki yoğunlaşma ve yabancı bankaların oranı kontrol değişk...

The impact of foreign direct investments (FDI), portfolio investments (PI) on economic growth has been a debate in the literature. On the other hand economic growth may be a factor that attracts the FDIs and PIs. Thus, the aim of this paper is to analyze the direction of the relationship by using Granger causality between economic growth, forei...

This paper investigates the effects of the US crude oil prices (OIL) on some selected sub–sector indices of the Borsa Istanbul (BIST) including BIST–Chemical Petroleum, Plastic, (BIST–CHE), BIST–Textile–Leather (BIST–TEX), BIST–Metal Products, Machinery (BIST–MET), BIST–Transportation (BIST–TRS), BIST–Electricity (BIST–ELC), BIST–Food Beverage (BIS...

This paper investigates the effects of the US crude oil prices (OIL) on some selected sub-sector indices of the Borsa Istanbul (BIST) including BIST-Chemical Petroleum, Plastic, (BIST-CHE), BIST-Textile-Leather (BIST-TEX), BIST-Metal Products, Machinery (BIST-MET), BIST-Transportation (BIST-TRS), BIST-Electricity (BIST-ELC), BIST-Food Beverage (BIS...

Bu çalışma hisseleri BİST'de işlem gören üretim firmalarının performans-larını toplam faktör verimliliği ve etkinlik unsurları üzerinden değerlendirerek, kurumsal yönetim uygulamalarının bu göstergeler üzerindeki etkilerini ölçmeyi amaçlamaktadır. 2005-2011 dönemini inceleyen çalışmada öncelikle VZA ile firmaların etkinlik ve verimlilik değerleri h...

z Modigliani ve Miller'dan (1958) sonra iflas maliyeti, temsilci maliyetleri, bilgi farklılıkları ve vergi konularına dayanarak firmaların optimal sermaye yapısını ne şekilde oluşturacakları finans literatüründe çokça incelenmiştir. Bu çalışmada da amaç, 2008-2012 yıllarında Borsa İstanbul'da işlem gören ve faaliyet konusu enerji olan firmaların se...

The volatility of the futures prices is of crucial importance to all participants in the market, especially in the emerging markets like TurkDEX, the newly established derivatives market, where the high volatility of foreign exchange rates can be usually observed. This paper aims to analyze the determinants of the volatility of the US Dollar and Eu...

Oil prices are often considered as a vital economic factor due to the dependence of the world economy on oil. The goal of this paper is to contribute to the literature on the dynamic relationship between oil prices and stock prices under the presence of possible structural breaks in an emerging market, Turkey. The empirical evidence suggests that t...

Bu çalışmanın amacı kurumsal yönetim uygulamalarının BİST’de işlem gören üretim firmalarının performans göstergesi olan toplam faktör verimliliği, etkinlik, saf etkinlik, teknik etkinlik ve ölçek etkinliğine etkisini incelemektir. 2005-2011 yılları arasını inceleyen çalışmada önce VZA ile etkinlik ve verimlilik değerleri hesaplanmış, ardından yö...

Çalışmanın amacı, petrol ve doğal gaz fiyatları ile İMKB imalat sektörü ve kimya-petrol-plastik sektörü endeksleri arasındaki ilişkiyi ortaya koymaktır. 02.01.1997-31.12.2009 döneminin incelendiği çalışmada, geleneksel birim kök testleri ve kırılmalı birim kök testleri ile eşbütünleşme analizleri kullanılmıştır. Kırılmaları dikkate alan test son...

This paper aims to analyze the relationship between corporate governance and bank performance. Return on asset (ROA), return on equity (ROE) and net interest margin (NIM) is considered as the measures of bank performance. Corporate governance is determined through the measures of internal governance mechanism which is measured by CEO duality and...

Bu calisma Turkiye’de 1995-2009 yillari arasinda faaliyet gosteren ticari bankalarin performanslarini etkileyen icsel ve dissal faktorleri belirlemeyi amaclamistir. Yontem olarak panel veri analizi kullanilmis, performans olcutu olarak aktif karliligi, net faiz marji ve ozkaynak karliligi goz onune alinmistir. Sonuclar bankacilik performansinin dah...

In this paper, the relationship between macroeconomic variables and stock market level is investigated. In the empirical analysis, well-known (Zivot Andrews, 1992; Lumsdaine Papell, 1997) unit root tests are conducted to determine the order of integration of the time series. Gregory-Hansen test which allows for structural breaks in the data is empl...

Turkish banking has undergone a rapid consolidation process in the forms of domestic mergers and acquisitions and foreign acquisitions. This paper analyzes the effects of corporate governance on the performance of the Turkish commercial banks, using the data from 1995 to 2008. The paper considers the static, selection and dynamic effects of domesti...

Bu çalışmanın amacı davranışsal finansta önemli bir yaklaşım olan aşırı tepki hipotezinin Ocak 1992- Aralık 2005 döneminde İstanbul Menkul Kıymetler Borsası (İMKB) için test edilmesidir. Aşırı tepki hipotezi, hisse senetlerindeki anormal fiyat hareketlerini, ters yönde fiyat hareketlerinin izlediğini öne sürer. Geçmiş kaybedenler, geçmiş kazananlar...

Bu calisma Turkiye’de 1995-2009 yillari arasinda faaliyet gosteren ticari bankalarin performanslarini etkileyen icsel ve dissal faktorleri belirlemeyi amaclamistir. Yontem olarak panel veri analizi kullanilmis, performans olcutu olarak aktif karliligi, net faiz marji ve ozkaynak karliligi goz onune alinmistir. Sonuclar bankacilik performansinin dah...