{"title":"Gender Differences in Sports Participation: A Multi-Level Analysis","authors":"Y. Öztürk, Tekin Köse, Kayra Özcan","doi":"10.21773/boun.35.2.3","DOIUrl":"https://doi.org/10.21773/boun.35.2.3","url":null,"abstract":"","PeriodicalId":35304,"journal":{"name":"Bogazici Journal","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2021-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"68293606","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Determinants of Delegation: Evidence from British Establishment Data","authors":"Emre Ekinci, Nikolaos Theodoropoulos","doi":"10.21773/boun.35.1.3","DOIUrl":"https://doi.org/10.21773/boun.35.1.3","url":null,"abstract":"This paper provides an empirical analysis of firms’ delegation decisions by using a matched employer-employee dataset from Britain. In our analysis, we first investigate if firm-provided training is positively related to delegating authority, as predicted by the existing theories. We then consider variables that can potentially increase the value of delegation. In particular, we conjecture that firms become more likely to delegate authority as they face higher uncertainty or as the employees acquire more precise information. To test these hypotheses, we use market conditions to measure uncertainty and correlates of worker productivity to measure the precision of the employee’s information","PeriodicalId":35304,"journal":{"name":"Bogazici Journal","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2021-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"49516655","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Real Exchange Rate Dynamics in Model with Habit Formation","authors":"Yusuf Ömür Yılmaz","doi":"10.21773/boun.35.1.2","DOIUrl":"https://doi.org/10.21773/boun.35.1.2","url":null,"abstract":"","PeriodicalId":35304,"journal":{"name":"Bogazici Journal","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2021-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"49423448","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Determinants of Non-Core Liabilities of Banks in Emerging Markets in the Post-Crisis Era","authors":"Kurmaş Akdoğan, Neslihan Kaya Eksi, Ozan Ekşi","doi":"10.21773/boun.35.1.4","DOIUrl":"https://doi.org/10.21773/boun.35.1.4","url":null,"abstract":"The level of the non-core liabilities of the aggregate banking sector serves an indicator of systemic risk in an interconnected banking system. In this paper, we disentangle the non-core liabilities of the banking system of four selected emerging markets into demand-pull and supply-push components from 2004 to 2015. Our results from structural vector autoregressions imply that, in the wake of the crisis, worsening demand conditions in the recipient countries were the main determinants of the decline in cross border flows. However, once the unconventional policy measures by the advanced economies were put into effect, the proliferation of global liquidity worked as a push factor for cross border flows. Moreover, after the FED’s tapering signal in mid2013, country-specific macroprudential tools in emerging economies determined the direction of capital flows to these economies. Our results provide valuable information regarding the appropriate design of countercyclical macroprudential policies.","PeriodicalId":35304,"journal":{"name":"Bogazici Journal","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2021-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"47931051","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"A Practitioner’s Guide to Handling Irregularities Resulting from the 2014 Revisions to the Turkish Household Labor Force Survey","authors":"Murat Demirci, Meltem Poyraz","doi":"10.21773/boun.35.1.1","DOIUrl":"https://doi.org/10.21773/boun.35.1.1","url":null,"abstract":"","PeriodicalId":35304,"journal":{"name":"Bogazici Journal","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2021-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"48872392","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"The Determinants of the Volatility in Cryptocurrency Markets: The Bitcoin Case","authors":"M. Akkaya","doi":"10.21773/boun.35.1.5","DOIUrl":"https://doi.org/10.21773/boun.35.1.5","url":null,"abstract":"Bu makale kripto para piyasalarındaki oynaklıǧı analiz etmektedir. Kripto para birimleri özellikle son yıllarda ön plana çıktı. Küresel sınırları yoktur ve kullanımı kolaydır. Kripto para biriminin ilk ortaya çıkışı, Nakamoto'nun (2008) bir makalesiyle Bitcoin'dur. Kripto para ve madeni para piyasaları getiri saǧlarken aynı zamanda oynaklık saǧlamaktadır. Bu çalışma, Bitcoin fiyatındaki simetri ve asimetrileri ve beklenen kaldıraç etkisini incelemektedir. GARCH (1,1) modeli %1'de istatistiksel olarak anlamlıdır. EUR/USD alış kuru, ALTIN fiyatı, USD10 Yıl tahvil getirisi, ABD Doları Endeksi ve VIX deǧişkenleri anlamlıdır. Uluslararası finansal deǧişkenler ile Bitcoin oynaklıǧı arasındaki etkileşim, inceleme döneminde geçerlidir. EGARCH modeli, kaldıraç etkisinin kripto para piyasalarında geçerli olmadıǧını göstermektedir.Alternate :This article analyzes the volatility in the cryptocurrency markets. Cryptocurrencies have come to the fore especially in recent years. They have no global border and are easy to use. The earliest example of a cryptocurrency was Bitcoin, first introduced in an article by Satoshi Nakamoto (2008). This study examines symmetries and asymmetries in the Bitcoin price and the expected leverage effect. The GARCH (1,1) model is statistically significant at the 1%. EUR/USD buying rate, GOLD price, USD10 Year Bond Yield, US Dollar Index and VIX variables are significant. The interaction between international financial variables and Bitcoin volatility emerge in the period of study. The EGARCH model indicates that the leverage effect is not valid in the cryptocurrency markets.","PeriodicalId":35304,"journal":{"name":"Bogazici Journal","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2021-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"49045837","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Do Turkish IPOs Time the Market?","authors":"S. B. Avci","doi":"10.21773/BOUN.34.2.2","DOIUrl":"https://doi.org/10.21773/BOUN.34.2.2","url":null,"abstract":"This paper tests whether entrepreneurs time the market in the Turkish IPO market to benefit from temporary market conditions. IPOs substantiated in Borsa Istanbul between 1990 and 2019 are analyzed to test the hypothesis. Findings support the market timing hypothesis: Hot issue markets are characterized by higher initial underpricing. During these periods, initial and aftermarket abnormal returns, real money left on the table, real proceeds from IPOs, and the ratio of new shares to total shares are higher. IPO volume is not significantly related to economic and financial market swings.","PeriodicalId":35304,"journal":{"name":"Bogazici Journal","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2020-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"44073149","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Time-varying return predictability and adaptive markets hypothesis: Evidence on MIST countries from a novel wild bootstrap likelihood ratio approach","authors":"Oktay Ozkan","doi":"10.21773/BOUN.34.2.1","DOIUrl":"https://doi.org/10.21773/BOUN.34.2.1","url":null,"abstract":"This paper investigates the evolution of the return predictability (or market efficiency) degree for Mexico, Indonesia, South Korea, and Turkey (MIST) countries and examines whether the findings are consistent with the implications of adaptive markets hypothesis (AMH). For this purpose, the novel wild bootstrap likelihood ratio approach of Kim and Shamsuddin (2020) is applied on the monthly data from January 1993 to July 2020 with the rolling sub-sample windows method to determine whether the ability of inflation and trading volume to predict stock market returns varies over time. The empirical findings verify that the return predictability (or market efficiency) is time-varying consistent with the implications of the AMH for all MIST countries. This verification is also strengthened by using other predictor variables, namely, exchange rate and realized volatility. This paper reveals that the AMH is more successful in explaining real stock market behavior than efficient markets hypothesis","PeriodicalId":35304,"journal":{"name":"Bogazici Journal","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2020-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"47589477","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Evidence for Financial Hierarchy Theory in Capital Structure Decisions: Data from BIST Companies","authors":"E. Acar, Gamze Vural, Emin Huseyin Cetenak","doi":"10.21773/boun.34.1.2","DOIUrl":"https://doi.org/10.21773/boun.34.1.2","url":null,"abstract":"","PeriodicalId":35304,"journal":{"name":"Bogazici Journal","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2020-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"45181892","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}