Theses - Department of Management
Faculty of Business Administration
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Does bitcoin improve optimal portfolios? A stochastic spanning approach
(Bilkent University, 2020-10)The thesis evaluates the impact of Bitcoin as a means of portfolio diversification on different stochastically efficient portfolios. Here, the stochastic efficient portfolios are the results obtained by applying ... -
When does brand foreignness matter for ethnocentric consumers in developing countries? the role of emotions and national icon products
(Bilkent University, 2020-07)It is widely known that an increase in the perceived quality of a brand significantly increases one’s intention to purchase that brand. According to the signaling theory, the foreignness of a brand may act as a sign of ... -
Systemic risk and financial networks
(Bilkent University, 2020-01)This thesis investigates the interbank relations of Turkish banks with each other and foreign banks abroad. In the first chapter, we focus on the interbank relations between domestic banks and study the effects of bank ... -
Essays in empirical finance
(Bilkent University, 2019-12)This thesis comprise three essays that investigate foreign exchange market volatility and its dynamics using high frequency exchange rate data. In the first essay, we decompose the jump component of USDTRY exchange rate ... -
Essays on financial connectivity and stability
(Bilkent University, 2019-12)This thesis investigates the structure of cross-border lending market by using network analysis and examines the relationship between financial connectivity and probability of systemic crises, controlling for macroeconomic ... -
Investors’ reaction to litigation announcements by Capital Markets Board of Turkey
(Bilkent University, 2019-09)I empirically investigate investors’ reaction to the litigations announcements published by Turkish Capital Markets Board (CMB). I use event study to analyze daily abnormal returns for significant market reactions. I compile ... -
Informed trading in borsa İstanbul
(Bilkent University, 2019-06)This thesis investigates how information asymmetry affects asset prices in Borsa İstanbul. In the first chapter, we introduce the R package InfoTrad that estimates the probability of informed trading. Next, we examine ... -
Accountant or advisor? Role of CPAs on family SME performance
(Bilkent University, 2019-05)Building on Knowledge Based View (KBV) this thesis investigates the formation and the effect of external Chartered Public Accountants’ (CPA) advising services on the performance of family Small and Medium-Sized Enterprises ... -
Use of currency hedging instruments by non-financial Turkish firms
(Bilkent University, 2018-09)Having significant exchange rate exposure, Turkish non-financial firms face both operational and financial risk caused by exchange rate movements. Despite not being as deep as in the developed countries, Turkish financial ... -
Determinants of large stock price movements: a perspective from the options market
(Bilkent University, 2018-01)I empirically investigate the information role of trading volume of call and put options on large stock price movements. I define two variables -crash and jump- to indicate large stock price movements with respect to ... -
Agency costs in an emerging market : investigating business groups
(Bilkent University, 2017-10)Positive abnormal returns around loan announcements imply that banks have unique expertise in information production about borrowers. I study abnormal returns around loans that Turkish listed firms secure from international ... -
Market reaction to private equity deal announcements
(Bilkent University, 2017-10)This thesis investigates whether and how target shareholders benefit in leveraged buyout deals in which the target is a public company and the acquirer is a private equity firm. We conduct an event study and run cross ... -
Lending behaviors of Turkish banks during elections and business cycles
(Bilkent University, 2017-09)This thesis examines the lending behavior of Turkish banks during elections and business cycles using quarterly data for the period December 2001-September 2016. Banks are classified on the basis of their ownership as ... -
Cultural distancing attempts of middle class consumers in media consumption
(Bilkent University, 2017-07)The consumption practice itself or a characteristic of a consumption practice tells a lot about the (re)production of social boundaries and inequalities in the societies. That makes the social class a fertile field to study ... -
Essays in corporate finance : an analysis of stock market investment patterns in emerging countries from a behavioral and a traditional perspective
(Bilkent University, 2017-07)This thesis investigates the investment patterns in emerging stock markets first from a behavioral then from a traditional perspective. The first two chapters deal with affective motivations in the stock investment decision. ... -
Dynamic interaction between liquidity and sovereign credit risk : evidence from Turkey
(Bilkent University, 2017-07)In this thesis, the dynamic interaction between liquidity and credit risk for Turkey, which highly needs capital inflow to finance its current account deficit, is examined. A firm/country defaults when it is unable to pay ... -
Does increasing foreign control in the banking sector have an impact on banks’ loan rates? : evidence from Turkey
(Bilkent University, 2017-06)Foreign bank presence has been a growing trend in Turkey since 2000. Considering the fact that almost all of the entries are through acquisition of small-sized banks in the industry, we argue that this kind of a foreign ... -
Factors impacting bank net interest margin and the role of monetary policy: evidence from Turkey
(Bilkent University, 2017-02)In this thesis, we study factors affecting net interest margin (NIM) of commercial banks in Turkey. Especially, our results highlight the relation between unconventional monetary policy shocks and bank margins. To this ... -
Mergers and acquisitions during financial crises
(Bilkent University, 2016-09)This thesis investigates the effects of financial crises on mergers and acquisitions (M&A) activity. We investigate if M&A deals in crisis periods differ in terms of dollar volume and quantity of deals, target and bidder ... -
Optimal assortment planning under capacity constraint : single and multi-firm systems using transshipments
(Bilkent University, 2016-09)To survive in today's competitive market, firms need to meet customer expectations by offering high quality products with high variety. However, there might be some physical and financial constraints limiting the assortment ...
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