Selim Yıldırım, Reyhan Cavadova, Ethem Esen, F. Temi̇zel
{"title":"BİST 100 ENDEKSİNİN DÖVİZ KURU DEĞİŞİMLERİ İLE SİMETRİK VE ASİMETRİK İLİŞKİSİ","authors":"Selim Yıldırım, Reyhan Cavadova, Ethem Esen, F. Temi̇zel","doi":"10.14784/MARUFACD.880655","DOIUrl":"https://doi.org/10.14784/MARUFACD.880655","url":null,"abstract":"Bu çalışmada, Türkiye Ekonomisinde 2009:Q1-2019:Q4 dönemi için BİST 100 endeks getirileri ile döviz kuru değişimleri arasındaki ilişki incelenmiştir. Çalışmada kullanılan BİST100 ve döviz kuru değişkenlerinin verileri, üç aylık verilerden oluşmaktadır. Değişkenler arasındaki ilişkiyi incelemek üzere gecikme eklemeli modeller bağlamında, simetrik ve asimetrik nedensellik testleri kullanılmıştır. Çalışmada ilk olarak, serilerin durağan olup olmadığını veya birim köklerinin bulunup bulunmadığını belirlemek için Genişletilmiş Dickey-Fuller testi kullanılmıştır. Ardından da simetrik ve asimetrik nedensellik testi ile Türkiye’de döviz kuru-hisse senedi getirileri arasındaki ilişki incelenmiştir. Bulgular, iki değişken arasındaki ilişkinin zayıf olduğunu, bununla birlikte borsadaki negatif bir gelişmenin döviz kuru artışı ile ilişkili olduğunu ortaya koymaktadır.","PeriodicalId":440701,"journal":{"name":"Finansal Araştırmalar ve Çalışmalar Dergisi","volume":"132 44","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-01-31","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"120852863","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":"TÜRKİYE’DE FİNANSAL ERİŞİMİN BELİRLEYİCİ FAKTÖRLERİ ÜZERİNE BİR ARAŞTIRMA","authors":"H. Ergün, Tolga Ergün","doi":"10.14784/MARUFACD.880617","DOIUrl":"https://doi.org/10.14784/MARUFACD.880617","url":null,"abstract":"Financial inclusion allows individuals and institutions in a country to easily access these products and services without any hindrance in using financial products and services. The main purpose of financial inclusion is to ensure that the products and services offered by financial system are available for entire community. While increasing the level of financial inclusion contributes to economic development, it also enables to re-duce poverty and increase prosperity. Therefore, an econometric analysis has been conducted to examine the determinants of financial inclusion in Turkey. In the study, determinants of financial inclusion in Turkey have been examined for the period 2006-2018 with three basic multiple linear regression models. The results of the study indicate a statistically significant and positive relationship between the variables treated as indicators of financial inclusion and the rate of population growth, the rate of gross domestic savings, the rate of unemploy-ment, and gross domestic product per capita.","PeriodicalId":440701,"journal":{"name":"Finansal Araştırmalar ve Çalışmalar Dergisi","volume":"95 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-01-31","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"122126668","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":"KRİPTO PARALARIN VOLATİLİTE MODELİNDE ABD BORSA ENDEKSLERİNİN YERİ: BİTCOİN ÜZERİNE BİR UYGULAMA","authors":"Ayben Koy, Mustafa Yaman, Sefa Mete","doi":"10.14784/MARUFACD.880672","DOIUrl":"https://doi.org/10.14784/MARUFACD.880672","url":null,"abstract":"Blok zincir sisteminde islem goren en yeni inovatif finansal urunlerden biri olan kripto paralar, yatirimcilardan yuksek ilgi gormektedir. Kripto para piyasasinin en yuksek islem hacimli urunu Bitcoin (BTC), gosterdigi yuksek oynakliklar ve spekulatif fiyat balonlari ile de on plana cikmistir. BTC’nin volatilite yapisinda ABD borsa endeks getirilerinin varligini arastiran bu calisma, 10.03.2016 – 11.06.2019 donemindeki gunluk verileri kapsar. Genellestirilmis Otoregresif Kosullu Degisen Varyans modellerinden GARCH, EGARCH ve TARCH modellerinin kullanildigi calismada, SP500, Nasdaq100 ve Dow Jones Industrial varyans degiskeni olarak kullanilmistir. Bulgular, (1) her uc endeksin de BTC’in volatilitesini aciklamada anlamli oldugu, (2) borsa endeksleri ile gelistirilmis modellerin, GARCH, EGARCH ve TARCH modellerinin tamaminda benzer temel modelden daha guclu oldugu ve (3) endekslerle gelistirilmis EGARCH modelinin ise en guclu model oldugunu gostermektedir","PeriodicalId":440701,"journal":{"name":"Finansal Araştırmalar ve Çalışmalar Dergisi","volume":"259 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-01-31","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"129088642","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":"İSLAMİ ENDEKSLERDEKİ PİYASA ETKİNLİĞİNİN UZUN HAFIZA MODELLERİYLE TEST EDİLMESİ: BİST UYGULAMASI","authors":"Arife Özdemir, Nazlıgül Gülcan, Namıka Boyacioğlu","doi":"10.14784/MARUFACD.879250","DOIUrl":"https://doi.org/10.14784/MARUFACD.879250","url":null,"abstract":"Etkin piyasa, fiyatlarin rassal yuruyus ozelliginden dolayi gecmisteki fiyat degisimlerini dikkate alarak gelecekteki fiyatlarin tahmin edilemedigi; boylece fiyatlarda uzun hafizanin olmadigi piyasadir. Bu calismada, portfoy cesitlendirmesi acisindan oneme sahip olan Islami endekslerin piyasa etkinligi uzun hafiza modelleriyle test edilmeye calisilmistir. BIST’te yer alan Katilim-30, Katilim-50 ve Model Portfoy Endeksleri’nin yayinlandigi tarihten itibaren 11.04.2019’a kadar olan gunluk getiri verileri dikkate alinarak getiri ve volatilite serilerinde uzun hafiza etkisi ARFIMA-FIGARCH modeli kullanilarak arastirilmistir. Calismanin sonucunda, endekslerin getiri serilerinde kisa hafiza ozelligi, volatilite serilerinde uzun hafiza ozelligi sergiledigi bulgusuna ulasilmistir. Turkiye’de yer alan Islami endekslerin incelenen donem itibariyle uzun hafiza ozelligine sahip olmasi, bu endekslerin zayif formda etkin piyasa yapisindan uzaklastiklarini gostermektedir.","PeriodicalId":440701,"journal":{"name":"Finansal Araştırmalar ve Çalışmalar Dergisi","volume":"408 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-01-31","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"116671096","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":"TÜRKİYE’DE ZEKAT İLE YOKSULLUK ARASINDAKİ İLİŞKİNİN ANALİZİ","authors":"Selman Yilmaz, Abdüsselam Sağin, Mustafa Yapar","doi":"10.14784/MARUFACD.880664","DOIUrl":"https://doi.org/10.14784/MARUFACD.880664","url":null,"abstract":"Zakat worship enables to eliminate lots of social and economic problems thanks to its strong nature of obligatory conditions and working mechanisms that arising from Qur’an and the Sunnah that are the primary resources of Islam. Income inequality and poverty are ones of the major problems for households that seek for having better living conditions. In this paper, we classified the people according to their income level and analyzed the households that live below the poverty line to get evidence whether zakat effectively eliminate issues mentioned or not. Finally, results of investigation demonstrates that if muslim people of Turkey canalize their savings completely to zakat provides a significant role to remove poverty and have adequate economic standard of living.","PeriodicalId":440701,"journal":{"name":"Finansal Araştırmalar ve Çalışmalar Dergisi","volume":"18 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-01-31","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"128369897","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":"ULUSLARARASI FOSİL YAKIT FİYATLARININ FİNANSAL PİYASALAR ÜZERİNDEKİ ETKİSİNİN ARDL SINIR TESTİ İLE İNCELENMESİ: 1986-2019 DÖNEMİ TÜRKİYE ÖRNEĞİ","authors":"Kenan İlarslan","doi":"10.14784/MARUFACD.879206","DOIUrl":"https://doi.org/10.14784/MARUFACD.879206","url":null,"abstract":"Turkey is a foreign-dependent country on fossil fuels in the way of both daily life and industrial occupancy. The prices of fossil resources have the potential to have serious effects especially on the economy and financial markets. In this connection, it is noteworthy for investors and policy makers to examine the factors that may af-fect financial markets and to reveal the relationship between them. The aim of the study is to examine the effect of international fossil fuel prices on the stock market index. Yearly data were used in the study covering the period 1986-2019. BIST100 index as dependent variable and international crude oil, natural gas and coal prices as independent variables are analyzed. As a consequences of the analyzes made within the framework of ARDL Bounds test, it was determined that there is a co-integrated relationship between the variables. In addition, in the long term, it is determined that there is a positive and significant relationship between the stock market index and oil prices, a negative and insignificant relationship with natural gas, and a negative and significant relationship with coal. According to the error correction coefficient, imbalances occurring in the short term are eliminated in the long term. According to the error correction coefficient, disequilibrium occurring in the short term are eliminated in the long term.","PeriodicalId":440701,"journal":{"name":"Finansal Araştırmalar ve Çalışmalar Dergisi","volume":"312 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-01-31","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"133014957","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":"FİNANSAL OKURYAZARLIK SEVİYESİ İLE MOBİL BANKACILIK KULLANIMI ARASINDAKİ İLİŞKİNİN TESPİTİ: TÜRKİYE ÖRNEĞİ","authors":"Melek Yildiz, İbrahim Bozkurt","doi":"10.14784/marufacd.785898","DOIUrl":"https://doi.org/10.14784/marufacd.785898","url":null,"abstract":"Bu calismanin temel amaci, Turkiye’deki bireylerin finansal okuryazarlik seviyesini ve bireylerin finansal okuryazarlik seviyesi ile mobil bankacilik hizmetinin kullanimi arasindaki iliskiyi incelemektir. Bu amac dogrultusunda, Turkiye genelinde tesadufi ornekleme yontemi ile secilen 589 katilimciya internet uzerinden anket yapilmistir. Anket verileri SPSS 22.0 programinda bagimsiz iki grup T-Testi, tek yonlu ANOVA ve Pearson korelasyon yontemi kullanilarak analiz edilmistir. Calisma sonunda finansal okuryazarlik skorunun erkekler ve kadinlarda benzer oldugu ancak medeni durum, yas, gelir ve egitim durumuna gore farklilastigi gorulmustur. Bunun yani sira, katilimcilarin algilanan bilgi duzeyi, sahip olduklari finansal okuryazarlik skorlari ile ortusmektedir. Calismada bankacilik islemlerini mobil bankacilik uzerinden gerceklestiren katilimcilarin daha yuksek finansal okuryazarlik skoruna sahip oldugu ve kullanim tecrubesi ve sikligi arttikca finansal okuryazarlik skorunun da arttigi tespit edilmistir. Son olarak, analiz sonuclari gostermektedir ki, mobil bankacilik kullanim sikligi ve mobil bankacilik hizmetlerinin faydalari ile finansal okuryazarlik skoru arasinda pozitif ve istatistiksel olarak anlamli bir iliski vardir.","PeriodicalId":440701,"journal":{"name":"Finansal Araştırmalar ve Çalışmalar Dergisi","volume":" 2","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2020-07-31","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"132041576","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":"CONTEMPORARY ANALYSIS ON FINANCIAL AND TECHNOLOGICAL ASPECTS OF MOBILE PAYMENT SYSTEMS IN TURKEY","authors":"Ugur Kaplancali, Hüseyin Altuntaş","doi":"10.14784/marufacd.783017","DOIUrl":"https://doi.org/10.14784/marufacd.783017","url":null,"abstract":"Today's business world moves incredibly fast as the technology’s role on the processes of production, trade, and consumption is getting more dominant. The emerging technologies like mobile payment technology offer businesses an amazing support to operate their cash flow process more efficient and secure than traditional ways. On the consumer side, mobile payment applications make cashless transactions possible. In this study, the mobile payment systems in Turkey will be investigated and several correlation statistics between the mobile payment transaction numbers and the five major factors, financial and technological ones, are presented. Our analysis shown that contactless POS machine numbers, domestic credit cards penetration, 3G/4G adaptation ratio, mobile broadband internet usage rate and even smartphone sales rates are the factors for mobile payment increase in Turkey. Mobile payment solutions provided by global tech players are not available in Turkey, due to the fact that regulations and law related to these services lag behind. Absence of mobile payment technologies from global tech giants can be considered as a disadvantage for the Turkish markets but the joint efforts of established banks, new entrants and incumbent technology vendors supports a thriving ecosystem of mobile payments in our country.","PeriodicalId":440701,"journal":{"name":"Finansal Araştırmalar ve Çalışmalar Dergisi","volume":"42 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2020-07-31","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"129422142","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":"TÜRK FİRMALARINDA FİNANSAL KISITLAR VE YATIRIM: DOKUMA, GİYİM EŞYASI VE DERİ SEKTÖRÜNDE BİR ARAŞTIRMA","authors":"B. Ergün","doi":"10.14784/marufacd.781540","DOIUrl":"https://doi.org/10.14784/marufacd.781540","url":null,"abstract":"Yeni borc ya da ozkaynak gibi dissal finansmana erisimde problemler yasanmasi durumunda, firmalar yatirimlarini icsel nakit akislari ile finanse etmek zorunda kalabilirler. Bu durum firmalarin yatirimlarinin kendi nakit akislariyla kisitli olmasi anlamina gelir. Bu calismanin amaci, firmalarin yatirimlarinda icsel nakit akislarina bagimliliklarinin arastirilmasidir. Veri seti hisse senetleri Borsa Istanbul’da (BIST) islem goren, Dokuma, Giyim Esyasi ve Deri Sektorunde yer alan 20 firmanin 2005 ve 2017 arasindaki finansal verilerinden olusmaktadir. Analiz icin Golge Degiskenli En Kucuk Kareler yontemi ve Euler Denklemlerinden faydalanilmistir. Tahmin edilen modellerin sonuclarina gore icsel nakit akislarinin firma yatirimlarini pozitif ve anlamli bir sekilde etkiledigi gozlenmistir. Diger bir ifade ile icsel nakit akislari azaldiginda yatirimlar da azlamak zorunda kalmaktadir; bu durum dissal finansmana erisimde problemlerin yasaniyor oldugunun gostergesidir.","PeriodicalId":440701,"journal":{"name":"Finansal Araştırmalar ve Çalışmalar Dergisi","volume":"212 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2020-07-31","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"123533424","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}