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ARTICLES


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Previous Articles (ISE Review):
Article Title
Writer(s)

No: 52
Tam Metin
Abstract
The Relationship Between Stock Prices and Exchange Rates: Evidence from Developed and Developing Countries Önder Büberkökü

Determinants of Foreign Portfolio Investments in Turkey Abdulkadir Kaya, Turan Öndeş

Effects of Horizontal M&AS Trading Volume of Stock Exchanges Burç Ülengin, M. Banu Yobaş

No: 51
Tam Metin
Abstract
A Dynamic Model of Pension Fund Companies Mustafa AKAN

Effects of a Change in the Composition of İMKB 30 on Stock Performance Barış TEKE

Housing Market and Macroeconomic Fundamentals Orhan ERDEM, Hande ORUÇ, Yusuf VARLI

No: 50
Full Text
Abstract
Validity of the Triple Deficit Hypothesis in Turkey: Bounds Test Approach Merter Akıncı & Ömer Yılmaz

Profitability Analysis of Banks An Application on the Turkish Banking Industry Gözde Çerçi & Serkan Yılmaz Kandır & Yıldırım Beyazıt Önal

Comparison of the Performance of ISE Corporate Governance Index against Performances of Two Newly Created Indices Hakan Güçlü

No: 49
Full Text
Abstract
Using Various Portfolio Formation and Test Periods: An Examination of Overreaction in ISE Hatice Doğukanlı, Gamze Vural, Bahadır Ergün

An Analysis of Manipulation Strategies in Stock Markets Rasim Özcan

Efficiency and Limited Arbitrage in the Stock Markets: Evidences from ISE Bekir Elmas

No: 48
Full Text
Abstract
The Impact of Ownership Structure on Capital Structure of Manufacturing Firms: Evidence from the ISE (1998-2009) Güven Sayılgan & Yahya Sayman

The Istanbul Stock Exchange and Economic Growth Mehmet Adak


Shadow Banking for Connected Lending and The Countermeasures: Turkish Case
İhsan Uğur Delikanlı & Ali Alp & Saim Kılıç

No: 47
Full Text
Abstract
The Effect of Foreign Portfolio Investments on The ISE: An Index-Based Study Bekir Elmas

Stock Price Reactions To Merger Announcements: Evidence From Istanbul Stock Exchange (ISE) Berna Kırkulak Uludağ & Özlem Demirkaplan Gülbudak


A Game Theoretic Approach To Model Financial Markets: Guessing Game
Ü. Barış Urhan & Zafer Akın

No: 46
Full Text
Abstract
Internal Determinants of Profitability in Turkish Banking Sector Ali Alp & Ünsal Ban & Kartal Demirgüneş & Saim Kılıç

Why Turkish Securities Firms Have Not Transformed to Full Service Investment Banks?: An Assessment For the Near Future of the Turkish Securities Firms Industry Yener Coşkun

Investigating Exchange Rate Exposure of Bank Shares: Empirical Evidence From ISE Serkan Yılmaz Kandır & Ahmet Erişmiş

No: 45
Full Text
Abstract
The Effects Of Free Float Ratıos On Market Performance: An Empirical Study On The Istanbul Stock Exchange Faruk Bostancı & Saim Kılıç

The Effect Of The Transparency Level Of The ISE-Listed Banks On Liquidity A.R. Zafer Sayar & Önder Kaymaz & Ali Alp

Calendar Effects In The Stock Market And A Practıce Related To The Istanbul Stock Exchange Market (ISEM) Mehmet Hasan Eken & Taylan Özgür Üner

No: 44
Full Text
Abstract
Financial Reporting for The Repo Transactıons and The Impact Of Proposed Amendments In IAS 39 and IFRS 7 İhsan Uğur Delikanlı

Investigating Investment Preferences of Institutional Investors Toward ISE Companies Serkan Yılmaz Kandır

The Effect of Foreign Investors On Security Markets: The Case of Istanbul Stock Exchange Gülüzar Kurt Gümüş

No: 43
Full Text
Abstract
Granger Causality Between Stock Price and Trading Volume: A Stock-Based Analysis in the ISE Bekir Elmas & M. Sinan Temurlenk

The Accuracy of Sales Forecasts Disclosed in the IPO Prospectuses: Evidence From Istanbul Stock Exchange Halil İbrahim Bulut

Aftermarket Performances of Book Building and Fixed Price Offerings on the Istanbul Stock Exchange Erkin Uzun

No: 42
Full Text
Abstract
The Effect of the Change in the Exchange Rate of US Dollars on the Market Index of Developing Countries:January 2001– November 2006 Period Semra Karacaer & Yusuf Volkan Topuz

Inflation Accounting and Stock Returns: Evidence From Istanbul Stock Exchange (ISE) Berna Kırkulak & Çagnur Kaytmaz Balsarı

An Empirical Examination of Bilateral Interaction Between Foreign Investors’ Trading and Returns in Turkey Hasan F. Baklacı

No: 41
Full Text
Abstract
Are Compliance Costs Arising From Capital Markets Regulations in Turkey Actually that High to Hinder IPOs?
Saim Kılıç & Ali Alp & Önder Kaymaz


Further Out-of-Sample Tests of Simple Technical Trading Rules
Numan Ülkü


Jinx Numbers Effect
Ekrem Tufan & Bahattin Hamarat


No: 40
Full Text
Abstract
Public Disclosure Levels of ISE Companies: Ownership and Corporate Governance Effects
Bengi Ertuna, Ali Türkel

Good Corporate Governance Structures With Three Betters: Internal Control, Risk Management and Accounting Practices Önder Kaymaz & Ali Alp & Ramazan Aktaş

Portfolio Selection:Application on International Stock Portfolios Turhan Korkmaz & Elif Birkan

How to Attract More Foreign Capital Investments in Turkey
Cenap İter

No: 39
Full Text
Abstract
The Analysis of the Impact of Size and Book-To-Market Ratio on the Stock Returns of the ISE Companies
Serpil Canbaş, Serkan Yılmaz Kandır, Ahmet Erişmiş

Investment Bank Reputation and the Post-IPO Operating Performance: The Case of the Istanbul Stock Exchange
Halil İbrahim Bulut

The Impact of Custom Union Agreement on the Integration of Turkish Stock Market with the Major Trading Partners in Europe
Saadet Kırbaş Kasman, Adnan Kasman

Do Foreigners Act as Positive Feedback Traders in Turkey?
Cüneyt Akar

No: 38
Full Text
Abstract
Multiscale Systematic Risk:an Application on the ISE-30 Atilla Çifter & Alper Özün

Exchange Rate Exposure:A firm and Industry Level Investigation Sadık Çukur

Inflation Targeting According to Oil and Exchange Rate Shocks Cem Mehmet Baydur

No: 37
Full Text
Abstract
Symmetrical and Asymmetrical Relationship Between Exchange Rate and Stock Exchange Index Return Volatilities in Turkey Ömer Özçiçek

Effect of Openness on Economic Growth in High Income OECD Countries: 1953-2004 Sefer Şener & Ercan Sarıdoğan

The Design of a Regulatory Regime to Achieve High Quality Regulation: An Evaluation of Turkey’s Regulatory System Ali Alp & Saim Kılıç

Determination of Effect of Intellectual Capital on Firm Value Via Value Added Intellectual Coefficient Methodology: An Empirical Study on ISE-Listed Manufacturing Firms M. Başaran Öztürk & Kartal Demirgüneş

No: 36
Full Text
Abstract
Detecting the Manipulation of Financial Information by Using Artificial Neural Network Models Güray Küçükkocaoğlu & Yasemin Keskin Benli & Cemal Küçüksözen

Impact of Audit Opinions on Stock Returns in Istanbul Stock Exchange (ISE) Hakan Aygören & Süleyman Uyar

Pricing Mortgage Assets Cem Karakaş & Onur Özsan

Asymmetric Responses in Volatility Between Positive and Negative Shocks: New Evidence From Turkish Data by Using TAR-GARCH Model Cüneyt Akar

No: 35
Full Text
Abstract
How to Manage the Mortgage Credit Risk in Turkey?
Can Dual-indexed Mortgages be a Remedy?
Ali ALP & M. Mete DOĞANAY

Forecasting Financial Variables by the Grey Theory Sadık Çukur & Erdoğan Kotil & Resul Eryiğit

Overreaction Hypothesis and an Empirical Work on the Istanbul Stock Exchange Şerafettin Sevim & Birol Yıldız & Soner Akkoç

Purchasing Power Parity and ARIMA Models in Forecasting
Exchange Rates: The Case of Turkey
Hasan Vergil & Filiz Özkan

No: 34
Full Text
Abstract
Cointegration and Causality Between Macraeconomic Variables and Share Prices Ömer Yılmaz & Bener Güngör & Vedat Kaya

Comparing the Convergence Behaviour of Binomial and Trinomial Models
Mehmet Horasanlı

Foreign Direct Investment and Real Exchange Rate: A Causality Analysis
Hasan Vergil & Hamza Çeştepe

No: 33
Full Text
Abstract
Public Disclosure Systems ISE Research Department

Measuring Audit Risk by Data Envelopment Analysis Nurhan Davutyan & Lerzan Kavut

The European Union Portfolio-Diversification Opportunities in the New Members vs. the Candidate: Turkey Ceylan Onay & Vedat Akgiray

No: 32
Full Text
Abstract
The Relationship Between Macroeconomic Volatility And Stock Market Volatility Saadet Kırbaş Kasman

Measuring Default Risk In Turkey: Econometric Approach Melike E. Bildirici & Memet Salman

The Effects Of G-7 Countries’ Stock Markets On The Istanbul Stock Exchange Nildağ Başak Ceylan

No: 31
Full Text
Abstract
Size and Book-to-Market Effects: Evidence from the Istanbul Stock Exchange (ISE) Nuri Yıldırım

Persistence in Emerging Market Stock Returns: Empirical Evidence from Six Stock Markets
Zeynel Abidin Özdemir

Are Investors Affected by the Weather Conditions: Evidence from the Istanbul Stock Exchange Ekrem Tufan & Bahattin Hamarat

No: 30
Full Text
Abstract
Investors’ Selection Between Two Financial Markets: A Conditional Correlation Approach Oral Erdoğan & Harald Schmidbauer

Exchange Rate Exposure: An Empirical Application for Textile Industry on the Istanbul Stock Exchange Sadık Çukur & Yusuf Volkan Topuz

Mudaraba-Venture Capital Closed-end Mutual Funds and Mudaraba-Venture Capital Open-end Mutual Funds Halil İbrahim Bulut

No: 29
Full Text
Abstract
Institutional Investors and Stock Market Development: A Causality Study Güler Aras & Alövsat Müslümov

A Risk and Profitability Approach to Bank Performance Measurement: The Case of Turkish Commercial Banks M. Hasan Eken

Monetary Policy Analysis for Turkey in a Game Theoretical Perspective Cem Mehmet Baydur & Bora Süslü & Selahattin Bekmez

Single-Price Auction System for the Istanbul Stock Exchange
Güray Küçükkocaoğlu

No: 28
Full Text
Abstract

Araştırma Müdürlüğü

No: 27
Full Text
Abstract
Abnormal Return Fluctuations in the ISE (Istanbul Stock Exchange) Before and After the General Elections in Turkey
Pınar Evrim Mandacı

Forecasting the Volatilities and Covariances of ISE Government Debt Securities Indices M. Mete Doğanay

Financial Liberalisation and Economic Growth: A Panel Data Approach Bülent Güloğlu

No: 26 & 25
Full Text
Abstract
Banks, Stock Market and Economic Growth: Cointegration and Causality Analysis Case of Turkey (1989-2000) Hakan Çetintaş & Salih Barışık

An Analysis on the Dividend Policy of the Istanbul Stock Exchange (ISE) Corporations: Cash Dividend-Industry Behavior Relation Mustafa Kemal Yılmaz

Capital Structure of the Turkish Domestic and International Real Sector Firms Halit Göneneç &Özgür Arslan

Forecasting the Direction of the ISE National-100 Index By Neural Networks Backpropagation Algorithm Ali İhsan Diler

Finansal Kriz Döneminde Bankaların Etkinliği Adnan Kasman
No: 24
Full Text
Abstract
Examining Systematic and Nonsystematic Risks of the ISE Financial Sector Companies Hatice Doğukanlı & Songül Kakilli Acaravcı & Serkan Yılmaz Kandır

An Investigation of Beta Instability in the Istanbul Stock Exchange Atilla Odabaşı

Finance and Growth in Turkey: Casuality Issue Ensar Yılmaz & Özgür Kayalıca

No: 23
Full Text
Abstract
Multi-Beta Capital Asset Pricing Model and an Application in Turkey
Hatice Doğukanlı & Serkan Yılmaz Kandır

A New Financial Instrument For the Turkish Capital Markets: Exchange Traded Funds (ETFs) Çetin Ali Dönmez

No: 22
Full Text
Abstract
Measurement of Foreign Exchange Exposure on the Turkish Private Banks’ Stock Prices
Serpil Canbaş & Murat Doğanlar & Yıldırım B. Önal

Income Velocity of Money (M2): The Case of Turkey, 1986-2000 Fatih Cin & Fikret Dülger

Cash Conversion Cycle, Cash Management and Profitability: An Empirical Study on the ISE Traded Companies
Tülay Yücel & Gülizar Kurt

No: 21
Full Text
Abstract
Anchors in Implementation of Monetary Policies in Turkey in 1990’s Mehmet Baydur & Bora Süslü

Global Factors and Stock Returns: Empirical Evidence From the Istanbul Stock Exchange
Alpaslan Akçoraoğlu & Funda Yurdakul

Conditional CAPM and an Application on the ISE
Yalçın Karatepe & Fazıl Gökgöz

No: 20
Full Text
Abstract
Opinions and Attitudes of Independent Auditors and Users of Audit Services Concerning Audit Quality Lerzan Kavut

The 1994 Economic Crisis and Its Effects on Commercial Banks: An Emprical Investigation İhsan Işık

No: 19
Full Text
Abstract
Principles of Corporate Governance in the Capital Markets (Special Issue) ISE Research Department


No: 18
Full Text
Abstract
Testing Volatility Asymmetry in Istanbul Stock Exchange Cem Payaslıoğlu

Monetary Transmission and Bank Lending in Turkey
Lokman Gündüz

Deseasonalizing Macroeconomic Data: A Caveat to Applied Researchers in Turkey C.Emre Alper & Borağan Aruoba

No: 17
Full Text
Abstract
Special Issue



Stochastic Trends and Stock Prices in Emerging Markets: The Case of Middle East and North Africa Region Lokman Gündüz & Mr. Mohammed Omran

The Investment of Emerging Capital Markets and the Role of Derivative Securities Yrd. Doç. Dr. Turhan Korkmaz

Prediction of Financial Failure With Artificial Neural Network Technology and an Empirical Application on Publicly Held Companies
Birol Yıldız

Behavioral Finance Theories and the Price Behavior of the ISE Around the Start of the Disinflation Programme Numan Ülkü

Pre-Trade Transparency
Mr. Ananth Madhavan & Mr. Davıd C. Porter & Mr. Danıel Weawer

No: 16
Full Text
Abstract
An Analysis of Pre-Privatization and Post-Privatization Financial Performance and Activities of Privatized Cement Companies
Osman Karamustafa

Business Ethics and a Research for Ethics Cultures of the Companies Traded on the Istanbul Stock Exchange Ali Halıcı

Purchasing Power Parity and Real Exchange Rates in Case of Developing Countires
Mehmet Özmen & Murat Doğanlar

No: 15
Full Text
Abstract
The Effect of Scale and Mode of Ownwership on the Turkish Banking Sector Financial Performance
Muhammet Mercan & Reha Yolalan

The Role of Venture Capitalists as Financial Intermediaries in Capital Markets
Halil İ. Bulut

An Inquiry on the Factors Contributing to the Economic Crises in Turkey
Kamuran Malatyalı

No 14
Full Text
Abstract
Turkish Capital Market and the Istanbul Stock Exchange (ISE) Towards Harmonization and Competition with the European Capital Markets (Special Issue) Araştırma

Sayı 13
Full Text
Abstract
The Effects of Asian Currency Crisis on Financial Institutions: The ISE Experience
Halil Kıymaz & Osman Kılıç

Forecasting Stock Prices by Using Alternative Time series Models Kıvılcım Metin & Gülnur Muradoğlu

The Goals of the Monetary Policy Implementations in Turkey Hacer Oğuz

No: 12
Full Text
Abstract
A Challenge: Are You Ready for the Republic’s Centenary? Yavuz Canevi

Turkey in 2000’s Mahfi Eğilmez

The relationship between Inflation and Growth
Gazi Erçel

Recent Developments in Turkish Economy, Economic Policies for the Year 2000 and Effects of these Policies on Financial Markets Selçuk Demiralp

Innovations Adopted by the Revised Capital Markets Law Muhsin Mengütürk

A Contemplation on the Istanbul Stock Exchange in 2000 and Beyond
Osman Birsen

World Gold Markets, Istanbul Gold Exchange and Gold in Risk Management
Serdar Çıtak

Significance of the Southeastern Anatolia Project in the Turkish Economy Kenan Mortan

No: 11
Full Text
Abstract
On the Relationship Between Stock Prices and Macroeconomic Variables in Istanbul Stock Exchange Banu Durukan

Regulation Influence on the Dividend Policy of the Istanbul Stock Exchange (ISE) Corporations Cahit Adaoğlu

Do Derivatives Markets Constitute a Potential Threat to the Stability of the Global Financial System Çetin Ali Dönmez & Mustafa Kemal Yılmaz

No: 10
Full Text
Abstract
The Political Economy of Inflation: Are Turkish Banks Potential Losers from Stabilization?
Carolına Van Rıjkeghem

The Causes and the Impact of the Financial Crisis on the East Asian Economies
Kasım Eren

Russian Crisis: The Impact on the ISE ISE Research Department

No: 9
Full Text
Abstract
Basic Financial Characteristics in the Banking Sector: An Empirical Analysis (1990-1997) Osman Karamustafa

Leading Indicators Approach for Business Cycle Forecasting and a Study on Developing a Leading Economic Indicators Index for the Turkish Economy
Ali Mürütoğlu

Chaos Theory, Non-Linear Behavior in Stock Returns, Thin Trading and Market Efficiency in Emerging Markets: The Case of the Istanbul Stock Exchange Alper Özün

No: 8 & 7
Full Text
Abstract
The Bid-Ask Spread and its Determinants for Stocks Traded on the Istanbul Stock Exchange Zeynep Önder & Z. Nuray Güner

An Inquiry on the Evidence of Comovements Among Various Stock Market Returns Kamuran Malatyalı

Defined Contribution Model: Definition, Theory and an Application for Turkey Metin Ercen & Deniz Gökçe

Pension Reform, the Stock Market, Capital Formation and Economic Growth: A Critical Commentary on the World Bank’s Proposals Ajit Singh

Financial Market Implications of Pension Reforms Hans J. Blommestein

Prospects for Private Pension Systems and their Relation to the Stock Market in Turkey Mahir Füsunoğlu

The Impact of Tax Regimes on the Development of Private Pension Funds: Reflections on the Capital Market Çağatay Ergenekon

No: 6
Full Text Abstract
Relative Price Variability and Inflation: Empirical Evidence from Turkey Meral Karasulu

An Analysis of the Istanbul Stock Exchange National-100 Index: A Statistical Approach Reşat Kasap

Volatility in Istanbul Stock Exchange Zafer Yavan & C. Bülent Aybar

Day-Of-The-Week Effects in Overnight Interest Rates: Evidence from Turkish Money Markets Recep Bildik

No: 5
Full Text
Abstract
The Impact of Financial Innovation and Risk Management on Economic Performance Vedat Akgiray

A Note on the Relationship Between the Spot and Futures Markets for Common Stock Kürşat Aydoğan

When to Start Financial Derivatives Trading? The Example of Istanbul Stock Exchange Oral Erdoğan Murad Kayacan

ISE Derivatives Market Trading System Çetin Ali Dönmez

Launching Markets for Stock Index Futures and Options: Case of Korea Yu-Kyung Kım

The Right Time to Introduce a Derivatives Market Moema Unıs

No: 4
Full Text
Abstract
Effects of Turkish Liberalization Measures on Stock Prices Ayşe Yüce

An Analysis of the “Day of the Week Effect” on the Istanbul Stock Exchange Kıvılcım Metin / Gülnur Muradoğlu / Bilgehan Yazıcı

Causal Relations Among ISE, Inflation, Interest Rates and Real Activity in Turkey: A VAR Analysis Nihal Kargı - Harun Terzi

Forecasting of Corporate Performances on the Basis of Financial Indicators Levent Alkan

No: 3
Full Text
Abstract
The Privatization of Stock Exchanges: The Case of Stockholm Stock Exchange Bengt Ryden

Stock Market Volatility and Its Term Structure: Empirical Evidence From the Turkish Market Mustafa Kemal Yılmaz

The Long Run Performances of Turkish Industrial IPOs: 1990-1995 Experience Halil Kıymaz

An Empirical Investigation of the Determinants of Capital Structure: Evidence from Istanbul Stock Exchange Firms Banu Durukan

No: 2
Full Text Abstract
A Proposal for a Deposit Insurance System in Turkey Ercan Balaban Hüseyin Çilli

A Suggestion for a Bond Index Gürsel Kona

Managing Systematic Risk in Emerging Markets Gökhan Ugan

Analysis of Factors Affecting the Performances of Turkish Financial IPOs Halil Kıymaz

No: 1
Full Text
Abstract
A General Outlook of the Turkish Industry and Competitiveness of the Private Sector B. Safa Ocak

Intercultural Bank Management in Israel Yaır E. Orgler

Can Noise Traders Survive? Evidence from Closed-End Funds Seha M. Tiniç, Laura Straks, Rıchard W. Sias

P/E Ratio and the Dividend Yield as Forecasting Tools in the Istanbul Stock Exchange Kürşat Aydoğan Alparslan Güney

Integration Versus Segmentation: The Istanbul Stock Exchange Süleyman Gökçen Ahu Öztürkmen