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Öğe Behavioral investor types- determinants of individual investors’ financial risk tolerance(Muhasebe ve Finansman Dergisi, 2023) Çatak, Çiydem; Arslan, Sena YılmazFinancial risk tolerance has long been the focus of investors and researchers. Over time, various methods have been developed to measure risk tolerance and researchers try to find out the determinants of risk tolerance. The objective of this study is to identify the impact of socioeconomic as well as demographic variables on investors' risk-taking behavior and to classify investors into behavioral investor types. Therefore, a questionnaire that measures risk tolerance in two ways is conducted. Risk tolerance is measured with the active or passive characteristic traits quiz and a classical risk-tolerance questionnaire. Firstly, the results of the Multiple linear regression show that the variables gender and education are factors that significantly determine risk tolerance. Secondly, the behavioral investor types analysis shows that investors are not very emotional in their investment behavior and have predominantly cognitive biases.Öğe Cryptocurrencies and Blockchain Technology: Investigating the Relationship between Bitcoin and Financial Markets(Verlag Peter Lang AG, 2022) Selimefendigil, Seyfullah; Güzeloğlu, Hakan; Çatak, ÇiydemThe main purpose of this study is to investigate both causality relationship and cointegration relationship between bitcoin and capital markets during the Covid-19 period. To probe the issue a dataset based on a total of eight capital markets and the Bitcoin weekly prices utilized together. Based on Granger causality test, it is found that there is one-way causality relationship from BTC to BOVESPA and from SHANGHAI to BTC. Moreover, the ARDL bounds test shows that Bitcoin has no significant relationship with capital markets in the long run. © Peter Lang GmbH.Öğe Energy derivatives- an analysis of the Turkish electricity market(2022) Çatak, ÇiydemFinansal piyasalardaki yeni risk algısı ile beraber türev ürünlerin kullanımı artmıştır. Özellikle enerji fiyatlarındaki dalgalanmalardan kaynaklanan risklerin azaltılmasına hizmet eden enerji türevleri dünya çapında ve son zamanlarda da Türkiye'de yaygın olarak kullanılmaktadır. Bu çalışmanın amacı, Türkiye elektrik piyasasında işlem gören baz yüklü vadeli işlem sözleşmelerinin gelişimini analiz ederek sınırlı literatüre katkı sağlamaktır. Kapsamlı bir literatür taramasına dayalı olarak, bu finansal araçların güçlü ve zayıf yönleri, fırsatları ve tehditleri SWOT analizi ile belirlenmiştir. Özellikle elektrik piyasasının köklü bir şekilde yeniden yapılandırılmasının ardından şeffaf, güvenilir ve rekabetçi bir yatırım ortamının yaratıldığı ve günümüzde elektrik vadeli işlem sözleşmelerinin piyasa katılımcılarının fiyat risklerini yönetmelerine veya korumalarına yardımcı olan en önemli sözleşmelerden biri olduğu sonucuna varılmıştır.Öğe Entrepreneurial Finance in Turkey: A Comparison of German Entrepreneurial Index (GEX) with Borsa Istanbul Emerging Companies Market (ECM)(2020) Çatak, ÇiydemSmall and medium-sized enterprises have many unique features that distinguish them from large businesses. Because of these features, themanagement and financing of these companies also differ. Due to different financing sources and different financial management “EntrepreneurialFinance” has emerged and has addressed the financing decisions of entrepreneurs. This study attempts to explain the development of entrepreneurialfinancing in Turkey. It also discusses the emergence of new sources of funding, such as entrepreneurial indices created for small and medium-sizedenterprises. In addition, it compares the German Entrepreneurial Index with Borsa Istanbul Emerging Companies Market, and highlights common anddifferent aspects of these two indices. It is concluded that entrepreneurial indices help small and mid-sized companies to access external funding.Öğe Macroeconomic variables and stock market returns: a comparison of Germany and Turkey(Peter Lang AG, 2015) Çatak, ÇiydemThis study evaluates the effects of macroeconomic variables on the stock returns in Turkey and Germany. It contains data for 120 months covering the period from January 2005 to December 2014. Multiple Linear Regression model is used to analyze the relationship between current account balance, inflation rate, interest rate, export/import ratio, industrial production index, exchange rate and returns of DAX-30 and BIST-30 indexes. The results indicate that there is a statistically significant relationship between interest rate, industrial production index, exchange rate, and BIST-30 index return. On the other hand, the German stock exchange DAX-30 is affected by interest rate, exchange rate, export/ import ratio and industrial production index. © Peter Lang GmbH.Öğe RETURNS TO INNOVATION AND GROWTH: A PANEL DATA APPROACH FOR MIDDLE INCOME COUNTRIES(Kenan ÇELİK, 2018) Çatak, Çiydem; Nuroğlu, ElifBu çalışmanın amacı, gayri safi yurtiçi hasılanın büyümesi ile inovasyona bağlı faaliyetler arasındaki ilişkiyi araştırmaktır. 2012-2016 yılları arasında 5 yıllık süreyi kapsayan sekiz orta gelirli ülkenin dahil edildiği bir örneklem üzerinde panel veri analizi yapılmıştır. Araştırmanın bulguları, eğitim harcamaları, fen ve mühendislik mezunları, bilgiye dayalı istihdam, bilimsel ve teknik makaleler, nüfus ve doğrudan yabancı yatırımların büyümeye pozitif etki ettiğini göstermektedir. Bu nedenle, orta gelirli ülkelerde inovasyon ile ilgili faaliyetler ve ekonomik büyüme arasında güçlü bir ilişki olduğu sonucuna varılmıştır. Orta gelirli ülkelerin, gelirlerini daha yüksek seviyelere çıkarabilmek için AR-GE ve inovasyona daha fazla odaklanmaları önerilmektedir.Öğe Returns to innovation and growth: a panel data approach for middle income countries(2018) Çatak, Çiydem; Nuroğlu, ElifThis paper attempts to investigate the relationship between the growth of gross domestic product and innovation related activities. A panel data analysis is conducted on a sample of eight middle-income countries covering 5-year time period from 2012-2016. the major findings of the study show a significant positive impact of expenditure on education, graduates in science and engineering, knowledge intensive employment, scientific and technical articles, population and foreign direct investments on the growth of gross domestic product. Hence, we conclude that there is a strong relation between innovation-related activities and economic growth in middle-income countries. Therefore, we suggest that middle-income countries should focus more on R&D and innovation related activities to grow and change their income status to higher income levels.Öğe The confusion over the terminology of sustainable, ESG, socially responsible and impact investing(Peter Lang AG, 2024) Çatak, ÇiydemAlthough they have different meanings, the terms "sustainable investing", "socially responsible investing", "environmental, social and governance investing" and "impact investing" are often used interchangeably in the literature. This study aims to expand knowledge about these concepts by reviewing previous literature. It defines the differences and areas of convergence between these different investment approaches while drawing clearer boundaries between them. One could say that sustainable investing is an umbrella term that covers all these forms of investment. Environmental, social and governance investing (ESG) refers to the process of measuring a company's environmental, social and governance activities in the context of traditional financial indicators. Financial returns are the main objective of ESG investing. On the other hand, socially responsible investing (SRI) involves the selection or exclusion of investments based on certain moral standards. Impact investing is about giving investors the opportunity to invest in a company or organization that adds social value and thus creates an impact. © 2023 Peter Lang Group AG, Lausanne. All rights reserved.Öğe The rola of government in entrepreneurial finance : venture capital investing and innovation(Nisantasi Üniversitesi Sosyal Bilimler Dergisi, 2023) Çatak, ÇiydemThe use of venture capital has been discussed extensively in recent years as an alternative source of funding for start-ups to meet their financial needs. The contribution of venture capitalists to the overall business development of companies has been highlighted in this debate. This paper presents a research framework to identify the innovation indicators in terms of the role of government in their creation that influence venture capital investment. The relationship between innovation as measured by ease of business creation, ease of resolving insolvency, current expenditure on education, ICT (information and communication technology) use, ease of getting credit, domestic financial resources to private sector, protection of minority investors, knowledge-intensive employment, exports of creative goods, domestic patent applications and venture capital investment is examined for OECD countries over ten-year period between 2012 and 2021. The results show that the main determinants of innovation that affect venture capital investment are ease of insolvency procedures, ease of access to credit, current expenditure on education, use of ICT, knowledge-intensive employment, exports of creative goods and GDP per capital.Öğe The Role of Women in Turkish Economy: Current Situation, Problems and Policies(Peter Lang AG, 2019) Nuroglu, Elif; Çatak, ÇiydemThe contributing authors in this book emphasize that in Turkey the female labor force participation rate is distinctly lower than in advanced economies despite a significant improvement in the last decade. The indicated data evoke several simple questions. Firstly, what's holding women back? What are the impediments to female labor force participation that cause the gender gap in employment? Secondly, what are the costs of lower economic participation of women for themselves, their families and the economy as a whole? We hope that identifying and assessing factors that enhance or mute labor force participation of women can open important policy insights. © Peter Lang AG 2019.
