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Öğe Correction to: When are committees of Condorcet winners Condorcet winning committees? (Review of Economic Design, (2022), 26, 3, (417-446), 10.1007/s10058-021-00260-9)(Springer Science and Business Media Deutschland GmbH, 2023-06) Aslan, FatmaIn this article the affiliation details for Author Jean Lainé were incorrectly given as ‘Lirsa, National des Arts et Métiers, Paris, France’ but should have been “Lirsa, Conservatoire National des Arts et Métiers, Paris, France” In this article, the equation ß should be changed to p The original article has been corrected. © Springer-Verlag GmbH Germany, part of Springer Nature 2021.Öğe Gendered Self-Views Across 62 Countries: A Test of Competing Models(SAGE Publications Inc., 2023-09) Karabatı, SerdarSocial role theory posits that binary gender gaps in agency and communion should be larger in less egalitarian countries, reflecting these countries’ more pronounced sex-based power divisions. Conversely, evolutionary and self-construal theorists suggest that gender gaps in agency and communion should be larger in more egalitarian countries, reflecting the greater autonomy support and flexible self-construction processes present in these countries. Using data from 62 countries (N = 28,640), we examine binary gender gaps in agentic and communal self-views as a function of country-level objective gender equality (the Global Gender Gap Index) and subjective distributions of social power (the Power Distance Index). Findings show that in more egalitarian countries, gender gaps in agency are smaller and gender gaps in communality are larger. These patterns are driven primarily by cross-country differences in men’s self-views and by the Power Distance Index (PDI) more robustly than the Global Gender Gap Index (GGGI). We consider possible causes and implications of these findings. © The Author(s) 2022.Öğe Big data financial transactions and GDP nowcasting: The case of Turkey(WILEY, 2023-09-29) Barlas, Ali; Mert, Seda Güler; İsa, Berk Orkun; Ortiz, Alvaro; Rodrigo, Tomasa; Soybilgen, Barış; Yazgan, EgeWe use aggregated information from individual-to-firm and firm-to-firm transactions from the Garanti BBVA Bank to simulate domestic private demand and estimate aggregate consumption and investment for Turkey's quarterly national accounts in real time. We show that these big data variables successfully nowcast official consumption and investment flows. To further validate the usefulness of these indicators, we include both indicators among others which are generally used in gross domestic product (GDP) nowcasting and evaluate their contribution to nowcasting power of Turkish GDP by combining both linear and nonlinear models. The results are successful and confirm the usefulness of consumption and investment banking transactions for nowcasting purposes. These big data are valuable, especially at the beginning of the nowcasting process, when the traditional hard data are scarce. Accordingly, this information is especially relevant for countries with longer statistical release lags, such as emerging markets.Öğe ESG activity and bank lending during financial crises(ELSEVIER, 2023-01-03) Danışman, Gamze Öztürk; Tarazi, AmineThis paper explores how banks' environmental, social, and governance (ESG) activities affect their lending during financial crises. We use a sample of European listed banks with available ESG scores from 2002 to 2020 and consider the global financial crisis of 2007-2009 and the European sovereign debt crisis of 2010-2012. We estimate a two-step system GMM dynamic panel data model and also address potential endogeneity with instrumental variable (IV) and difference-in-difference (DiD) estimations. We find that lending falls to a lesser extent for banks with higher ESG scores during crisis times. Our findings are robust to using alternative ESG rating providers. An investigation of the different potential channels shows that, during crises, banks more engaged in ESG activities are less affected in terms of credit risk, asset risk, and profitability. They also face a lower reduction in market funding, allowing them to downsize to a lesser extent during crises, and their deposit rates do not increase as much as in less ESG-engaged banks. A deeper investigation reveals that our findings mainly hold for banks focused on traditional lending and deposit activities and are essentially driven by the environmental pillar component of ESG scores and the global financial crisis of 2007-2009.Öğe Convergence in renewable energy innovation and factors influencing convergence club formation(PERGAMON-ELSEVIER SCIENCE LTD, 2023-12-23) Pınar, MehmetInnovation and adaptation of renewable energy technologies significantly reduce carbon dioxide (CO2) emissions and increase energy efficiency. Understanding the convergence patterns in renewable energy innovation will enable policymakers to design policies to increase energy efficiency and renewable energy consumption and reduce CO2 emissions. This paper applies the convergence algorithm proposed by Philips and Sul to assess the convergence in renewable energy innovation for 90 countries covering the period between 1993 and 2018. This paper also examines the determinants/factors driving the convergence clubs of the countries using Probit and Logit regression. The convergence analyses suggest that there is no global convergence in renewable energy innovation. Findings highlight two convergence clubs: i) a club comprising more innovative countries and ii) another club that includes less innovative countries. We find that countries with higher income per capita, CO2 emissions per capita, research and development (R&D) investment, better environmental regulations and stronger institutional settings are more likely to be part of the innovative club. Countries should increase their R&D investment and environmental regulations and improve their institutional quality to increase their likelihood of belonging to a more innovative club. Furthermore, less innovative countries could promote policies to transfer renewable energy technologies from innovative countries.Öğe Institutionalization of Science Communication in Universities of Turkiye: A Qualitative Analysis of Central Communication Units(MARMARA UNIV,, 2023-03-03) Öztunç, Müge; Suerdem, Ahmet; Bedir, UmurIn contemporary policy documents and academic literature, the significance of institutional actors, particularly universities, in the communication and interaction processes between science and society is increasingly emphasized. This study aims to explore the science communication activities carried out by central communication units of universities in Türkiye, the distribution of these activities among sub-units within universities, the priorities and motivations for such activities, and the problems encountered in the institutionalization of science communication. Using a qualitative research method, semi-structured in-depth interviews were conducted with senior officials from 20 public and foundation universities in Türkiye, and a thematic analysis approach was utilized to analyze the coded data. The results indicate that while there are noteworthy differences between public and foundation universities, central communication units prioritize routine and one-way science communication activities categorized as PR and Marketing, while Public Engagement and Public Affairs activities involving dialogue are carried out to a more limited extent. The primary motivation behind universities’ science communication is meeting specific institutional strategic goals rather than creating public benefit. Furthermore, institutionalizing science communication in universities has been hindered by personnel and budget constraints in communication offices, the lack of institutional autonomy, and undefined duties and authorities of these units under the legal regulations of the higher education system.Öğe COVID caused a negative bubble. Who profited? Who lost? How stock markets changed?(ELSEVIER, 2023-05) Utku, Numan; Ali, Fahad; Saydumarov, Saidgozi; İkizlerli, DenizCompiling a unique, worldwide collection of trading data, we analyze investor types' aggregate trading in stock markets throughout the COVID-19 episode, to assess investor types' role in a worldwide negative bubble and their degree of sophistication in responding to it. Individual investors were the main buyers and consequently the winners during the rebound. Foreign institutional investors exited host markets; some domestic institutions exploited the negative bubble by well-timed buying. In US index futures, asset managers heavily sold into crash; dealers profited from the rebound. Individual investors' buying was driven by their contrarian behavioral traits and a unique positive shock to retail investor demand for self-serviced investing in stocks, driven by work-from-home practices and unprecedented stimulus. This shock has changed the participant composition of world stock markets. Overall, the COVID-19 episode has many unique aspects that cannot be accounted for under existing theories.Öğe Disentangling the effect of Trust on Bank Lending(ELSEVIER, 2023-06) Nicolas, Christina; Tarazi, Amine; Danışman, Gamze ÖztürkThis paper studies the effect of trust on bank lending using a sample of commercial banks in 34 countries around the world. We distinguish between two forms of trust: In-group trust, which we define as the trust in people we know, and Out-group trust, which we define as the trust in people we meet for the first time. We find that Out-group trust is positively and significantly associated with bank lending. A closer look shows that this ef-fect only holds in countries with relatively lower levels of formal institutional and judicial development. As for In-group trust, we find that its influence on bank lending is depen-dent on the level of informal lending available in each country. Overall, this paper provides novel evidence on the importance of trust and the different mechanisms by which it in-fluences bank lending around the world. (c) 2023 The Authors. Published by Elsevier B.V. This is an open access article under the CC BY license ( http://creativecommons.org/licenses/by/4.0/ )Öğe Evaluating the impacts of the COVID-19 pandemic on unemployment, income distribution and poverty in Turkey(ELSEVIER, 2023-03) Bahar, Ayşe Aylin; Günçavdı, Öner; Levent, HalukIn the recent World Economic Outlook, the IMF indicates that world output shrank by 3.5% in 2020. Despite all pessimistic expectations, the Turkish economy was one of the few countries to have a positive, albeit low, economic growth rate in 2020. This was, however, achieved at the expense of high social and economic costs. The present research examines the distributional costs of this economic growth during the pandemic and suggests economic measures required to control them. The empirical examination is based on generating unavailable income and living conditions for 2020 by using the results available in TurkStat’s 2017 Income and Living Conditions Survey. The actual changes in sectoral output and employment, which are available as of March 2021, are used to generate changes in the income levels of households in TurkStat’s 2017 survey. The research empirically shows that adequate fiscal support with a large scope for households and businesses is necessary to compensate for economic losses caused by the pandemic. The short-run working allowance policy appears to have been very important to improve income distribution, which might have deteriorated due to the pandemic. Direct cash support to households is considered another essential policy measure that is required to mitigate the severity of increased poverty.Öğe TMS 1 FİNANSAL TABLOLARIN SUNULUŞU STANDARDINA UYUM DERECELERİNİN BORSA ISTANBUL (BİST)’DA İNCELENMESİ(TÜRMOB, 2022) Altunel, Neslian; Fırat, Faruk ZiyaBu çalışmanın amacı, TMS 1 Finansal Tabloların Sunuluşu Standardı kapsamında enerji, turizm ve bilişim sektörlerinde yer alan belirli şirketlerin düzenledikleri finansal tabloların açıklamalarının TMS 1’e uyumunu pozitif muhasebe teorilerini de dikkate alarak ölçmektir. Bu çalışma kapsamında, Borsa Istanbul (BİST)’da işlem gören 39 şirket sektörel bazda incelemeye dahil edilmiş ve söz konusu şirketlerin 2019 yılı yıllık finansal raporları dikkate alınmıştır. Açıklamalardan türetilen endeks verileriyle, açıklama belirleyicileri olarak belirlenen kârlılık, kaldıraç, likidite oranları ve şirket büyüklüğü arasındaki ilişki korelasyon analiziyle gerçekleştirilmiştir. Gerçekleştirilen analiz neticesinde, TMS 1 standardının açıklama gerekliliklerine uyumda; enerji ve turizm sektörlerinde incelenen şirketlerin, her bir sektör için TMS 1’e ortalama uyum oranının yüzde 98, bilişim sektöründe incelenen şirketlerin ise ortalama uyum oranının yüzde 97 olduğu tespit edilmiştir. Enerji sektöründe, kaldıraç ve şirket büyüklüğü ile TMS 1’e uyum arasında, bilişim sektöründe ise kârlılıkla TMS 1’e uyum arasında pozitif ilişki tespit edilmiştir.Öğe An Integrative Model on User Satisfaction and Continuance Intention for Using M-Banking(Adem Anbar, 2022) Ozecan, Merve; Arıkan, EsraThis study aims to extend the Unified Theory of Acceptance and Use of Technology 2 (UTAUT2) by integrating the three quality dimensions adopted from DeLone and McLean’s Information Systems (IS) Success Model and trust as additional constructs. In this respect, it also investigates the possible relationships among these constructs as new internal mechanisms that affect user satisfaction and continuance intention for using mobile banking. A total of 422 usable responses are collected from mobile banking users using an online survey. The empirical findings generally support the effect that the UTAUT2 constructs of effort expectancy, performance expectancy, hedonic motivation and facilitating conditions and the three quality dimensions of the IS Success Model have, along with trust, on user satisfaction and continuance intention, revealing the importance of extending UTAUT2 with these new constructs and new mechanisms proposed. In addition, the current study provides an enhanced insight by focusing on the post-adoption stage. The findings are important in terms of helping banks serve their customers better and achieve a competitive edge.Öğe Music information visualization and classical composers discovery: an application of network graphs, multidimensional scaling, and support vector machines(SPRINGER, 2022-03-27) Seçkin, AylinAbstract: This article illustrates diferent information visualization techniques applied to a database of classical composers and visualizes both the macrocosm of the Common Practice Period and the microcosms of twentieth century classical music. It uses data on personal (composer-to-composer) musical infuences to generate and analyze network graphs. Data on style infuences and composers ‘ecological’ data are then combined to composer-to-composer musical infuences to build a similarity/distance matrix, and a multidimensional scaling analysis is used to locate the relative position of composers on a map while preserving the pairwise distances. Finally, a support-vector machines algorithm is used to generate classifcation maps. This article falls into the realm of an experiment in music education, not musicology. The ultimate objective is to explore parts of the classical music heritage and stimulate interest in discovering composers. In an age ofering either inculcation through lists of prescribed composers and compositions to explore, or music recommendation algorithms that automatically propose works to listen to next, the analysis illustrates an alternative path that might promote the active rather than passive discovery of composers and their music in a less restrictive way than inculcation through prescriptionÖğe Forecasting Preliminary Order Cost to Increase Order Management Performance: A Case Study in the Apparel Industry(IGI GLOBAL, 2022-08-26) Ekinci, YelizAbstract: In this study, the cost estimation to be used in the optimization of proposed order price offer is made by artificial neural network (ANN) method. A case study is performed by the real data of a company, and the forecast results of the traditional arithmetic model used by the company and the proposed ANN-based method are compared, and it is seen that the proposed method results outperform the other. The biggest contribution of this study to companies is to increase the company’s order management performance by helping the company to make more accurate pricing due to more accurate cost estimation. Moreover, to the best of the authors’ knowledge, this is the first study on forecasting preliminary order cost in the apparel industry and fills an important gap in the literature.Öğe Financing corporate tax cuts with shareholder taxes(John Wiley and Sons Ltd, 2022-01) Ateşağaoğlu, Orhan EremAbstract: We study the aggregate and distributional consequences of replacing corporate profit taxes with shareholder taxes, namely taxes on dividends and capital gains, in a setting with incomplete markets and heterogeneity at both the household and the firm level. The reform yields distributional gains with a large majority of households benefiting. Moreover, if dividend and capital gains are taxed at the same rate, the reform is also efficiency-enhancing and the implied optimal corporate income tax rate is zero. In contrast, an asymmetric tax treatment of dividend and capital gains induces a trade-off between efficiency and distributional concerns that is optimally resolved at a positive optimal corporate tax rate, implying double taxation. Copyright © 2022 The Authors.Öğe Analysis of Public Agenda during Covid-19 Pandemics Based on Turkish and English Tweets Using Nonnegative Matrix Factorization and Hypothesis Testing(Kauno Technologijos Universitetas, 2022) Ekinci, YelizAbstract: In this study, Turkish and English tweets through Twitter Application Program Interface (API) between 1-31 January 2021 are analyzed with respect to Covid-19. The collected tweets are preprocessed, labeled with the Vader Sentiment library, and then analyzed by topic modeling with Nonnegative Matrix Factorization. The analysis show that the most frequently mentioned word is “vaccine/aşı” after “Covid”. The topics modelled in the study are grouped into themes and the themes are seen to be similar in both languages, which means that the Turkish and world agenda are not very different in terms of themes in pandemics. Moreover, hypothesis tests are conducted to understand whether language and time period are related to sentiment class. The results show that the Turkish people are more neutral about the Covid-19 issue than other people in the world during the given period of time. Moreover, independent of the language, there are more negative and neutral tweets in the first half of January 2021, whereas there are more positive tweets in the second half of the month. To the best of our knowledge, this is the first study to analyze Covid-19 related tweets in two languages to compare the local and global agendas using topic modeling, sentiment analysis, and hypothesis testing methods. © 2022 Kauno Technologijos Universitetas. All rights reserved.Öğe Persistence of informal networks and liberal peace-building: evidence from Bosnia and Herzegovina(Palgrave Macmillan, 2022-03) Suerdem, AhmetAbstract: Informal networks persist after conflict and undermine liberal peace-building. While these adverse effects are well-known, how informal networks survive beyond conflict is less understood. Scholars explain informal networks’ persistence by their stability and cohesion, attributed to solidarity of ascriptive bonds such as ethnic ties. In these accounts, networks are approached as actors and not as relational structures. We address this gap in the peace-building scholarship and conduct a longitudinal study of relations within an informal network in Bosnia and Herzegovina. Drawing on the political approach to networks, and applying Social Network Analysis, we investigate actors’ relational power and reveal how network actors use their connections to create strategic coalitions and opportunistic collaborations enabling them to exploit different stages of the peace-building process. We demonstrate that unequal distribution of relational power creates vested interests in sustaining the network and in seeking access to it, and how dynamic reconstitution of relational power within the network ensures continuity of network action from war to peace. From a policy perspective, this structural account of informal network persistence suggests a need for a better understanding of the dynamics among co-ethnics within an informal network that allows network members to subvert efforts to counter informality and undermines post-conflict institution-building. © 2021, Crown.Öğe Conspiracy Theories and Institutional Trust: Examining the Role of Uncertainty Avoidance and Active Social Media Use(John Wiley and Sons Inc, 2022-04) Suerdem, AhmetAbstract: A generalized climate of distrust in political institutions is not functional to healthy democracies. With the advent of social media, recent scholarly efforts attempt to better understand people's conspiracy theory beliefs in inhibiting institutional trust. This study contributes to this literature by considering the direct antecedent effects of uncertainty avoidance and the moderating role of active social media use—SMU (i.e., interactional SMU, informational SMU, and political expressive SMU). The former is theorized to enable conspiracy theories to thrive, while the latter should cushion the negative effects of conspiracy beliefs on institutional trust. Relying on diverse survey data across different cultures from Europe, the Americas, and New Zealand (N = 11,958) and applying structural equation modeling, findings supported the hypothesized model. In high uncertainty-avoidance societies, where less well-known situations are perceived as uncomfortable or downright threatening, conspiracy beliefs proliferate and negatively impact institutional trust. Active SMU attenuates these effects. Via social media, citizens have the ability to strengthen social relationships (interactional SMU), keep themselves informed about the community (informational SMU), and engage in political self-expression (political expressive SMU), which mitigate conspiracy-belief negative effects on institutional trust. Future research implications and key limitations of the study are all discussed. © 2021 The Authors. Political Psychology published by Wiley Periodicals LLC on behalf of International Society of Political Psychology.Öğe Heterogeneous Effects of Unconventional Monetary Policy on the Bond Yields across the Euro Area(John Wiley and Sons Inc, 2022-08) Eroğlu, Burak A.Abstract: This paper investigates the impact of the European Central Bank's unconventional monetary policies (UMP) between 2008 and 2019 on European government bond yields. It adopts a novel econometric approach that combines a data-rich factor analysis and Vector autoregression (VAR) with heteroskedastic-based identification. The results identify a significant and substantial impact for all countries and maturities, but stronger and persistent impact for the periphery. When we decompose the impact into separate components, we find that UMP decreases the market component for all countries. It decreases the risk-mutualization component for the periphery permanently at the cost of a small increase for the core countries, which provides evidence for risk-mutualization in the EMU. © 2021 The Ohio State University.Öğe Monotonicity violations under plurality with a runoff: the case of French presidential elections(Springer Science and Business Media Deutschland GmbH, 2022-08) Keskin, Umut; Sanver, M.RemziAbstract: A voting rule is monotonic if a winning candidate never becomes a loser by being raised in voters’ rankings of candidates, ceteris paribus. Plurality with a runoff is known to fail monotonicity. To see how widespread this failure is, we focus on French presidential elections since 1965. We identify mathematical conditions that allow a logically conceivable scenario of vote shifts between candidates that may lead to a monotonicity violation. We show that eight among the ten elections held since 1965 (those in 1965 and 1974 being the exceptions) exhibit this theoretical vulnerability. To be sure, the conceived scenario of vote shifts that enables a monotonicity violation may not be plausible under the political context of the considered election. Thus, we analyze the political landscape of these eight elections and argue that for two of them (2002 and 2007 elections), the monotonicity violation scenario was plausible within the conjuncture of the time. © 2022, The Author(s), under exclusive licence to Springer-Verlag GmbH Germany, part of Springer Nature.Öğe Non-parametric seasonal unit root tests under periodic non-stationary volatility(Springer Science and Business Media Deutschland GmbH, 2022-11) Eroğlu, Burak AlparslanAbstract: This paper presents a new non-parametric seasonal unit root testing framework that is robust to periodic non-stationary volatility in innovation variance by making an extension to the fractional seasonal variance ratio unit root tests of Eroğlu et al. (Econ Lett 167:75–80, 2018). The setup allows for both periodic heteroskedasticity structure of Burridge and Taylar (J Econ 104(1):91–117, 2001) and non-stationary volatility structure of Cavaliere and Taylor (Econ Theory 24(1):43-71, 2008). We show that the limiting null distributions of the variance ratio tests depend on nuisance parameters derived from the underlying volatility process. Monte Carlo simulations show that the standard variance ratio tests can be substantially oversized in the presence of such effects. Consequently, we propose wild bootstrap implementations of the variance ratio tests. Wild bootstrap resampling schemes are shown to deliver asymptotically pivotal inference. The simulation evidence depicts that the proposed bootstrap tests perform well in practice and essentially correct the size problems observed in the standard fractional seasonal variance ratio tests, even under extreme patterns of heteroskedasticity. © 2022, The Author(s), under exclusive licence to Springer-Verlag GmbH Germany, part of Springer Nature.
