Sürdürülebilir Kalkınma Amaçları
Yayınlar
- MakaleAçık Erişim2026The relationship between intellectual capital and financial performance: an application on small and medium-sized businesses
Karaaslan, İbrahim; Karadavut, Ayşegül
This study investigates the impact of intellectual capital on financial performance. The sample comprises annual data from 2012 to 2023 for companies listed on the BIST SME Industry Index. Two models were constructed in the study. In the first model, return on assets was the dependent variable, while structural capital efficiency, human capital efficiency, capital employed efficiency, market capitalization, and leverage ratio were independent variables. In the second model of the study, market value was the dependent variable, and structural capital efficiency, human capital efficiency, capital employed efficiency, leverage ratio, and return on assets were the independent variables. The study found a statistically significant positive relationship between return on assets, firms’ market values, and capital efficiency. There was also a statistically significant negative relationship between human capital efficiency and the leverage ratio. Firms’ market values were positively related to return on assets and structural capital efficiency. In contrast, the relationship between firms’ market values and capital efficiency was significant and negative.
- MakaleAçık Erişim2025Yeşil finans üzerine yapılan çalışmaların bibliyometrik analizi
Karaaslan, İbrahim
İklim değişikliği, dünya genelinde çevresel, ekonomik ve sosyal yapıları derinden etkileyen bir kriz haline gelmiştir. Bu bağlamda, sürdürülebilir kalkınmayı teşvik etmek ve çevresel etkileri en aza indirmek amacıyla yeşil finans giderek daha önemli bir araç olarak ortaya çıkmaktadır. Bu çalışmada, yeşil finans üzerine yapılan çalışmaların nümerik ölçümlerini çıkarmak hedeflenmiştir. Çalışma, nicel veriler vasıtasıyla, iklim değişikliğiyle mücadeledeki dönüşümlerden birini temsil eden yeşil finans yazınının araştırmacıların dikkatine sunulması amacıyla sistemli bir özetinin çıkarılarak, konuyla ilgili çalışma eğilimlerinin tespit edilip, gelecekte yapılacak çalışmalar için yol gösterici olması amacıyla bibliyometrik analiz olarak tasarlanmıştır. Analiz birimi olarak Web of Science veri tabanında taranan ve 1999-2024 yılları arasında yayınlanmış çalışmaların bibliyometrik verisi baz alınarak analizler gerçekleştirilmiştir. Verilerin bibliyometrik analizinde VOSviewer kullanılmıştır. Çalışmanın sonucunda, yeşil finans ile ilgili çalışmaların yayın yıllarına göre son dönemlerde yoğunlaştığı, en çok atıf alan yazarlar arasında Kam C. Chan ve Farhad Taghizadeh-Hesary'nin yer aldığı, yeşil finans, yeşil inovasyon, yeşil tahviller ve Çin gibi anahtar sözcüklerin sıkça kullanıldığı ve en fazla atıf alan ve yayın yapan ülkenin ise Çin olduğu bazı bulgular arasındadır. Bu bulgular, yeşil finans alanında Çin'in öncü bir rol oynadığını ve araştırma eğilimlerinin bu yönde şekillendiğini göstermektedir.
- MakaleAçık Erişim2025The Impact of Foreign Direct Investments and Economic Growth on Employment: The Case of Palestine
Karaaslan, İbrahim
Today, foreign direct investments are a powerful economic growth and job creation tool. The study's data, which aims to analyze the effects of FDI and economic growth on employment in the Palestinian context, covers the period between 1995-2022 and consists of annual data. Time series cointegration analysis was preferred as the econometric analysis method. The stationarity of the variables was evaluated with ADF and PP unit root tests, and it was determined that they were non-stationary. As a result of the Johansen cointegration test, a long-run relationship between the variables was determined. According to the FMOLS, DOLS, and CCR estimation results, a statistically significant positive relationship was found between the EMP variable used as the dependent variable in the study and the FDI and lnGDP variables at a 5% confidence level. Finally, according to the Toda Yamamoto causality test results, a statistically significant unidirectional causality relationship was found between the FDI and lnGDP variables and the EMP variable at a 5% level. These results show that FDI in Palestine can create employment and that economic growth has a substantial impact on employment.
- MakaleAçık Erişim2025Analysis of efficent markets hypothesis in share market with long memory models
Karaaslan, İbrahim; Yılmaz, Safure Günbay
The COVID-19 pandemic has precipitated significant alterations not only in global lifestyles and daily routines but also in investment behaviors. This study aims to test the validity of the efficient markets hypothesis in the indices in Borsa Istanbul during the COVID-19 pandemic and the period when the pandemic effects on the country's economies and individuals continued. The study involves analyzing the stationarity of the return series for these equity indexes using both traditional unit root tests (ADF and PP) and those considering structural breaks (Zivot Andrews). Furthermore, the presence of the EMH was examined through the application of long memory models, employing methods such as Geweke and Porter-Hudak, Modified Log-Periodogram, and Robinson Gaussian Semi-Parametric. The findings reveal that the returns of BIST100, BIST50, BIST30, and BISTTUM indexes are non-stationary, do not exhibit mean reversion following shocks, and lack long memory characteristics. These results suggest that investors' attempts to predict price movements of these indexes may be misleading, indicating that only weak-form efficiency could be argued for these indexes.
- MakaleAçık Erişim2025The Relationship Between Financial Development and Income Inequality: A Fourier Approach in the Case of Türkiye
Karaaslan, İbrahim
While financial development is recognized as the driving force of economic growth, income inequality is a significant concern regarding social justice and sustainable development. The relationship between these two concepts can directly affect countries' economic policies and social balances. Therefore, the deepening and expansion of financial systems may create injustice in income distribution, but it also has the potential to reduce inequalities when appropriately managed. This study aims to determine the long-run impact of financial development on income inequality in Türkiye. For this purpose, the data set for the variables covers the period 1991-2022 and consists of annual observations. Income inequality (Gini coefficient) is used as the dependent variable, and the financial development index is used as the independent variable. In the study, the stationarity of the variables was tested with the Fourier unit root test (FKPSS) and KPSS unit root test. After the determination that the variables were not stationary at their level values, the Fourier cointegration test was used to test the existence of a long-run relationship between the variables. The study found that there is a cointegration relationship between financial development and income inequality in Türkiye. After establishing the co-integration relationship, our long-run DOLS estimation revealed a statistically significant negative relationship between financial development and income inequality at a 1% confidence level. The key conclusion drawn from this is that increases in financial development lead to reduced income inequality. This result underscores the potential impact of increasing financial development on reducing income inequality, and the importance of efforts and policies.
- MakaleYalnız künye2024Banka kârlılığının belirleyicileri: türk bankacılık sektörü üzerine bir uygulama
Yilmaz, Yusuf; Karaaslan, İbrahim
Bu çalışmanın amacı, Türk bankacılık sektöründe faaliyet gösteren ticari bankaların kârlılığını etkileyen faktörlerin tespit edilmesidir. Türk bankacılık sektöründe yer alan 9 ticari bankaya ilişkin 2004-2021 arası yıllık verilerin kullanıldığı çalışmanın analizi statik panel veri analizi yöntemi ile gerçekleş- tirilmiştir. Çalışma kapsamında, aktif kârlılık oranı bağımlı değişken, takibe dönüşüm oranı, faaliyet kâr marjı, faiz gelirleri, hisse başına düşen defter de - ğeri, üç ay vadeli mevduata ödenen faiz oranı bağımsız değişkenler olarak kullanılmıştır. Bankacılık sektörünün kârlılığını etkileyen faktörlerin incelen- diği çalışmanın sonucunda, aktif kârlılık oranı ile faaliyet kâr marjı, üç ay vadeli mevduata ödenen faiz oranı ve faiz gelirleri arasında istatistiki açıdan anlamlı pozitif ilişki, aktif kârlılık oranı ile hisse başına düşen defter değeri ve takibe dönüşüm oranı arasında ise istatistiki açıdan anlamlı negatif ilişki saptanmıştır.
- MakaleAçık Erişim2024Türkiye’de Ekolojik Ayak İzi ile Finansal Gelişme Arasındaki İlişki: Fourier Testinden Kanıtlar
Karaaslan, İbrahim
The impact of financial development on the ecological footprint and the relationship between them is of great importance for sustainable development and environmental protection. While financial development contributes to economic growth, it can also increase the consumption of natural resources and environmental pollution. For this reason, balancing financial development with environmental sustainability is critical to preserving the quality of life for future generations. Effective environmental policies and green financing tools can simultaneously promote economic growth and minimize the ecological footprint, thereby improving environmental quality. This study investigates the long-term relationship between financial development and ecological footprint in Türkiye. The dataset covers the period from 1980 to 2022 and consists of annual observations. The stationarity of the variables was tested using the Fourier KPSS unit root test and the KPSS unit root test. After determining that the variables were not stationary at their level values, the Fourier cointegration test was used to examine the long-term relationship between the variables. The results of the study revealed a cointegration relationship between ecological footprint and financial development in Türkiye. According to the long-term DOLS estimation results, there is a statistically significant positive relationship at the 1% significance level between financial development and ecological footprint, indicating that increases in financial development lead to increases in the ecological footprint. This finding underscores the need for more environmentally friendly policies and careful decision-making in the process of achieving financial development.
- MakaleYalnız künye2023Pay Senedi Fiyatının Belirleyicilerinin Tespit Edilmesi: Bist-100 ve Bist- 30 Borsa Endeksi’nde Karşılaştırmalı Bir Uygulama
Karaaslan, İbrahim; Özgür, Yağmur
Borsalar bir ekonomiye likidite sağlama, sermayenin tabana yayılması, ekonomide yapısal değişikliklerin kolaylaştırılması ve ekonomiye kaynak yaratılması gibi birçok temel işleve sahiptir. Bu yüzden borsa fiyatlarına etki eden makroekonomik faktörlerin tespit edilmesi önem taşımaktadır. Bu çalışmanın amacı, pay senedi fiyatının belirleyicilerinin tespit edilerek Borsa İstanbul-100 ve Borsa İstanbul-30 Endeksi fiyatına etki eden faktörlerin karşılaştırılmasıdır. Çalışmanın modeline ilişkin veriler 2011/Q1-2022/Q3 aralığını içermekte ve 47 çeyreklik veriden oluşmaktadır. Çalışmada pay senedi fiyatlarını temsilen açıklanan değişken olarak BİST-100 ve BİST-30 endeksi fiyatı, açıklayıcı değişkenler olarak ise; Dolar/TL kuru, 3 aya kadar vadeli mevduata ödenen faiz, altın ons fiyatı ve Avrupa Brent petrol fiyatı kullanılmıştır. Johansen eş-bütünleşme testi ile değişkenler arasındaki uzun dönemli ilişkinin varlığı tespit edilmiş, FMOLS ile model tahmininin gerçekleştirildiği çalışmada, Faiz, Dolar, Altın ve Brent değişkenlerinin hem BİST-100 hem de BİST-30 endeksi fiyatlarını istatistiki olarak anlamlı şekilde etkilediği, bu etkinin her iki borsa endeksi için anlamlı derecede farklılaşmadığı tespit edilmiştir.
- Kitap BölümüYalnız künye2021Impact of Covid-19 Pandemic on Cryptocurrency Prices
Karaaslan, İbrahim
- MakaleYalnız künye2015Political uncertainty and financial performance: an example on bist
Karaaslan, İbrahim; Ayaydin, Hasan
The purpose of the study is to examine the effects of political uncertainty on financial performance. For this purpose, the study consists of 147 firms operating in the industrial sector in Istanbul Stock Exchange (BIST) for the period of 2008-2013. The relationship between political uncertainty and financial performance has been analyzed for the quarter data period by using panel data analysis. Analysis indicated that there is no statistically significant relationship between the 29th of March 2009 General election of local administrations variable and the 12th of September 2010 constitutional amendment referendum variable as an indicator for the political uncertainty and financial performance indicators, although there is a negative statistically significant relationship between the 12th of June 2011 Parliamentary general election variable as an indicator for the political uncertainty and financial performance indicators. This result confirms the proposition that" election uncertainty may reduce the company's performance due to the inefficient allocation of capital channel". This result also sends a strong message that political uncertainty has a significant impact on real economic outcomes. This founding implying that firm manager and investors not perceive the 29th of March 2009 General election of local administrations and the 12th of September 2010 constitutional amendment referendum as an uncertainty sources, but perceive the 12th of June 2011 Parliamentary general election as an uncertainty sources. The study examining the impact of political uncertainty on firms' financial performance on has not been found. This aspect of the study is expected to fill this gap in the literature
- MakaleYalnız künye2014Liquidity risk management: evidence from for turkish banking sector
Karaaslan, İbrahim; Ayaydin, Hasan
The maturities of asset and liability structure of banks differentiate because banks use short-term debt to invest in long-term assets. This creates liquidity risk. Recently, the global crisis has proven that the lack of bank liquidity was the main trigger of all the negative events. The aim of the study is to investigate factors determining liquidity risk in Turkish banking system. This paper applies the Generalized Method of Moments technique for dynamic panels using bank-level data for 23 Turkish commercial banks over the period 2003 to 2011. We find that there is a negative (positive) relationship between bank liquidity (liquidity risk) and profitability indicators. We also find global financial crises, foreign ownership, state-private ownership is determinant factors of bank liquidity (liquidity risk), contributing to existing empirical analyses of the studies
- MakaleYalnız künye2014The effect of country risk on stock prices: an investigation on turkish banking sector
Karaaslan, İbrahim; Ayaydin, Hasan
There are many factors that affect the stock price. Aim to predict the stock price with the help of ratios that based on the information of firm’s past is frequently applied method. In the literature, studying on the relationships between financial ratios and stock price is plenty. Studies using risk factors that affect the stock price is scarce. In this study, country risk components and financial ratios being effective in determining stock prices are investigated by dynamic panel data analysis. In this aim, data set belonging to 12 banks in Stock market Istanbul (BIST) and operating in banking sector over the period of 2003:1-2012:4 is used. Empirical results suggest that economic risk, political risk, financial risk and country risk have a negative effect on stock price. Moreover, it is found there is a negative relationship between financial leverage, firm size and stock price, however a positive relationship between probability and stock price