Browsing by Author "Babuscu, Senol"

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Evaluation Of The Financial Performance Of Development And Investment Banks With Entropy-Based ARAS Method
(2022) Ak, Ozlem Karadag; Hazar, Adalet; Babuscu, Senol
The current study aimed to analyse the performance of development and investment banks operating in Turkey. Between group and within-group comparisons with public, private and foreign capital according to their ownership structures were conducted. ARAS-based performance evaluation of development and investment banks in Turkey over the period of 2010-2019 indicated that Diler Investment Bank Inc. and Merrill Lynch Investment Bank Inc. were at the top three; Turkish Sinai Development Bank Inc. with Aktif Investment Bank Inc. were found in the bottom three.
Exchange Rate Risk and İnternational Trade: The Role of Third Country Effect
(2018) Tunc, Cengiz; Solakoglu, M. Nihat; Babuscu, Senol; Hazar, Adalet
Using the recently launched Exporter Dynamics Database of the World Bank, this paper empirically investigates the role of external exchange rate risk (third-country effect) on trade flows between countries. We find a strong positive influence of external exchange rate risk on exports to a specific destination. However, the effect is more observable in advanced destination countries, countries with low bilateral exchange rate volatility in comparison to external exchange rate volatility, and countries in which export is concentrated among a small number of firms. (C)2018 Elsevier B.V. All rights reserved.
Exchange Rate Volatility and Trade: External Exchange Rate Volatility Matters
(2020) Tunc, Cengiz; Babuscu, Senol; Hazar, Adalet; Solakoglu, M. Nihat
We investigate the role of external exchange rate volatility in export in addition to the effect of bilateral exchange rate volatility using country-, sector-, and destination-specific detailed export data of the World Bank Exporter Dynamics Database. The results show that while the bilateral exchange rate volatility has a depressing effect on export, the external exchange rate volatility generates trade-promoting effect on export. However, the magnitude of the effect depends on trade intensity between countries. Furthermore, while the role of external exchange rate volatility diminished after the Global Financial Crisis, the effect of its volatility has become larger. Finally, external exchange rate volatility has a larger trade-promoting effect on export in the presence of high volatilities than the effect in the presence of low volatilities.
Factors Affecting Liquidity Risk- An Empirical Analysis On Turkish Banking Sector
(2021) Ekim Kocaman, Bade; Babuscu, Senol; Hazar, Adalet
The aim of this study is to determine the factors affecting the liquidity risk of deposit banks in Turkey. In this context, 10 deposit banks with the highest asset size according to their 2020 end of year financial tables were included to the sample and the quarterly data for the 2010-2020 period were tested by static panel data analysis. According to the model results, it is determined that "Equity / Total Assets", "Money Market Funds/Total Assets" and "Inflation" variables affect the liquidity risk. It is also important and specific for the study that the "Money Market Funds/Total Assets" ratio is a determining factor in the liquidity risk, in terms of the literature contribution of the study.
Sector-Level Competition and Export: Evidence from Exporter Dynamics Database
(2019) Babuscu, Senol; Hazar, Adalet; Solakoglu, M. Nihat; Tunc, Cengiz
We study the effect of sector-level competition on export by utilizing the Exporter Dynamics Database of the World Bank that provides sector-level competition measure along with destination-specific detailed export data. The results of the analysis show a nonlinear effect of sector-level competition on export. While at less competitive sectors, an increase in competition depresses export, at highly competitive sectors, an increase in competition generates a trade-promoting effect on export. The observed nonlinear effect is robust across sectors and countries. Therefore, productivity of peer firms could generate negative effect on a firm's export performance contrary to the usual positive effect of a firm's own productivity.
The Retreat From Bıst: Insıghts Into Foreıgn Portfolıo Investment Movements
(EKONOMI POLITIKA & FINANS ARASTIRMALARI DERGISI, 2024-11-15) Alp, oezge S. E. Z. G. I. N.; Hazar, Adalet; Babuscu, Senol
The need for rapid growth and development in developing countries increases the demand for capital. As a result, foreign portfolio investments are of great importance, especially in emerging markets, as they help meet capital needs. However, their ability to move quickly also introduces high volatility to financial markets. This study examines changes in the share of foreign portfolio investors in Borsa Istanbul from 2004 to 2023, aiming to provide long-term insights to market participants. Initially, changes in the foreign portfolio investor ratio over time are graphically analyzed alongside the BIST 100 index and the average interest rate of deposits with a maturity of up to 3 months. These changes are evaluated in the context of both global and local developments. The study then investigates the causal relationship between the foreign portfolio investor ratio and the BIST 100 index using a cointegration test and a causality test based on the VECM model. The findings show a one-way causality from the BIST 100 index to the foreign portfolio investor ratio, indicating that foreign investors' market movements are largely influenced by the performance of the BIST 100, and local market dynamics significantly affect foreign capital inflows.