Aydoğan, Berna

Profile Picture
Profile URL
https://hdl.handle.net/20.500.14365/6753
Name Variants
Aydogan, Berna
Okan, Berna
Aydoğan B.
Job Title
Email Address
berna.okan@ieu.edu.tr
Main Affiliation
03.04. International Trade and Finance
Status
Current Staff
Website
ORCID ID
0000-0002-5232-597X
Scopus Author ID
54946151900
Turkish CoHE Profile ID
A598AF2C8F10CF2B
Google Scholar ID
4F2HZK0AAAAJ
WoS Researcher ID
IYJ-8881-2023
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Berna_Aydogan.png (98.34 KB)

Sustainable Development Goals

NO POVERTY1
NO POVERTY
0
Research Products
ZERO HUNGER2
ZERO HUNGER
0
Research Products
GOOD HEALTH AND WELL-BEING3
GOOD HEALTH AND WELL-BEING
0
Research Products
QUALITY EDUCATION4
QUALITY EDUCATION
1
Research Products
GENDER EQUALITY5
GENDER EQUALITY
0
Research Products
CLEAN WATER AND SANITATION6
CLEAN WATER AND SANITATION
0
Research Products
AFFORDABLE AND CLEAN ENERGY7
AFFORDABLE AND CLEAN ENERGY
4
Research Products
DECENT WORK AND ECONOMIC GROWTH8
DECENT WORK AND ECONOMIC GROWTH
5
Research Products
INDUSTRY, INNOVATION AND INFRASTRUCTURE9
INDUSTRY, INNOVATION AND INFRASTRUCTURE
4
Research Products
REDUCED INEQUALITIES10
REDUCED INEQUALITIES
6
Research Products
SUSTAINABLE CITIES AND COMMUNITIES11
SUSTAINABLE CITIES AND COMMUNITIES
2
Research Products
RESPONSIBLE CONSUMPTION AND PRODUCTION12
RESPONSIBLE CONSUMPTION AND PRODUCTION
1
Research Products
CLIMATE ACTION13
CLIMATE ACTION
3
Research Products
LIFE BELOW WATER14
LIFE BELOW WATER
0
Research Products
LIFE ON LAND15
LIFE ON LAND
0
Research Products
PEACE, JUSTICE AND STRONG INSTITUTIONS16
PEACE, JUSTICE AND STRONG INSTITUTIONS
0
Research Products
PARTNERSHIPS FOR THE GOALS17
PARTNERSHIPS FOR THE GOALS
3
Research Products
Documents

18

Citations

423

h-index

9

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Documents

19

Citations

342

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Scholarly Output

31

Articles

24

Views / Downloads

153/340

Supervised MSc Theses

4

Supervised PhD Theses

1

WoS Citation Count

491

Scopus Citation Count

599

Patents

0

Projects

1

WoS Citations per Publication

15.84

Scopus Citations per Publication

19.32

Open Access Source

8

Supervised Theses

5

JournalCount
Journal of Economic and Administrative Sciences3
Iktısat Isletme Ve Fınans2
Euromed Journal of Busıness2
Economıc Modellıng1
Ege Academıc Revıew1
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Now showing 1 - 10 of 29
  • Thumbnail Image
    Article
    Citation - WoS: 9
    Citation - Scopus: 12
    Impact of Stock Market Trading on Currency Market Volatility Spillovers
    (Elsevier, 2020-04) Baklaci, Hasan Fehmi; Aydogan, Berna; Yelkenci, Tezer
    This research aims to detect the volatility linkages among various currencies during operating and non-operating hours of three major stock markets (Tokyo, London and New York) by employing bivariate VAR-BEKK-GARCH model in selected currency pairs. In particular, the aim is to analyze whether the major stock markets have a differential impact on volatility linkages in currency markets. The results indicate that volatility linkages in intraday are far stronger then in daily results. One remarkable result is that rather than major currencies, some minor and exotic currencies play a leading role in volatility transmission during trading hours of major stock markets.
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    Article
    Citation - WoS: 20
    Citation - Scopus: 27
    Sentiment Dynamics and Volatility of International Stock Markets
    (Springer Heidelberg, 2016-10-12) Aydogan, Berna
    This study attempts to analyze the effects of investor sentiment on volatility of nine stock markets, and capture the asymmetry in terms of negative and positive news during the period from January, 2004 to June, 2015. Empirical evidence from a sentiment-augmented TGARCH model demonstrates that there is an asymmetric property for all markets. The estimated coefficient of country-specific consumer confidence index used as a proxy for investor sentiment is statistically significant and negative for France and Germany, but statistically significant and positive for Ireland alone. The results provide evidence that in France and Germany, stock market volatility is sensitive to negative shock in investor sentiment, supporting the existence of the leverage effect; in Ireland, however, no such sensitivity exists. The results of this study should be of a particular interest for both domestic and international investors, academic researchers and policymakers in terms of international portfolio diversification. Investors can potentially improve their portfolio performance by considering investor sentiment, while policymakers can take steps to stabilize investor sentiment, thereby reducing stock market volatility and uncertainty.
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    Article
    Volatility Transmission Between Housing and Stock Markets in Europe: a Multivariate Garch Perspective
    (Ege Univ, Fac Economics & Admin Sciences, 2018) Vardar, Gulin; Aydogan, Berna
    Over the past decade, the significant changes in the prices of stock and real estate markets have intensified the interest of heightened concern about volatility in these markets. This paper deals with the dynamic return and volatility transmissions across real estate and stock markets in European countries over the period from 1985:Q1 through 2017:Q1. Using VAR-BEKK-GARCH model, we find significant evidence supporting shock and volatility spillover effects from real estate to stock markets in Denmark, Finland, Ireland and Spain whereas evidence running from stock to real estate markets is found in Spain, Sweden and Italy. In contrast, there is no evidence of any such spillovers in Belgium. Overall, these empirical findings provide fresh insights and policy implications in cross-market volatility spillovers for domestic and international investors, and also policy makers, through the potential for improved risk management and more efficient portfolio diversification.
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    Article
    Citation - WoS: 20
    Volatility Spillovers Among G7, E7 Stock Markets and Cryptocurrencies
    (Emerald Publishing, 2022-01-11) Aydoğan, B.; Vardar, G.; Tacoglu, C.
    Purpose – The existence of long memory and persistent volatility characteristics of cryptocurrencies justifies the investigation of return and volatility/shock spillovers between traditional financial market asset classes and cryptocurrencies. The purpose of this paper is to investigate the dynamic relationship between the cryptocurrencies, namely Bitcoin and Ethereum, and stock market indices of G7 and E7 countries to analyze the return and volatility spillover patterns among these markets by means of multivariate (MGARCH) approach. Design/methodology/approach – Applying the newly developed VAR-GARCH-in mean framework with the BEKK representation, the empirical results reveal that there exists an evidence of mean and volatility spillover effects among Bitcoin and Ethereum as the proxies for the cryptocurrencies, and stock markets reviewed. Findings – Interestingly, the direction of the return and volatility spillover effects is unidirectional in most E7 countries, but bidirectional relationship was found in most G7 countries. This can be explained as the presence of a strong return and volatility interaction among G7 stock markets and crypto market. Originality/value – Overall, the results of this study are of particular interest for portfolio management since it provides insights for financial market participants to make better portfolio allocation decisions. It is also increasingly important to understand the volatility transmission mechanism across these markets to provide policymakers and regulatory bodies with guidance to eliminate the negative impact of cryptocurrency's volatility on the stability of financial markets. © 2021 Emerald Publishing Limited
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    Article
    Citation - WoS: 2
    Citation - Scopus: 3
    Volatility Spillovers Effects Between Energy Commodities and Islamic Stock Markets
    (Penerbit Univ Sains Malaysia, 2024-06-07) Bilgin, Mehmet Huseyin; Vardar, Gülin; Aydoğan, Berna; Lau, Evan
    Empirical research exploring the relationship between capital markets and energy prices plays a crucial role in shaping policies for the growth of the Islamic financial system. This study aims to investigate potential shock transmission and volatility spillover effects among Islamic stock indices from selected Middle East and Northern Africa countries as well as crude oil prices and natural gas, over the period from August 2007 to September 2020. Applying VAR-BEKK-GARCH representation, the results reveal the evidence of bidirectional cross-market shock and volatility spillover effects between Kuwait and Qatar Islamic stock indexes, crude oil prices, and natural gas. Moreover, the results indicate the existence of bidirectional/unidirectional shock and volatility spillovers between Islamic indexes and all other variables, meaning there are information flows between these variables in all four countries except Turkey. Regarding the results of volatility spillovers, there is no spillover effect between Turkey's MSCI Islamic index and Brent crude oil. These findings bear significant implications for portfolio management, offering valuable insights to financial market participants for making improved portfolio
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    Article
    Citation - WoS: 29
    Citation - Scopus: 41
    Return and Volatility Spillovers Between Bitcoin and Other Asset Classes in Turkey Evidence From Var-Bekk Approach
    (Emerald Group Publishing Ltd, 2019-10-07) Vardar, Gulin; Aydogan, Berna
    Purpose With a substantial return and volatility characteristic of Bitcoin, which may be seen as a new category of investment assets, better understanding of the nature of return and volatility spillover can help investors and regulators in achieving the potential goal from portfolio diversification. The paper aims to discuss these issues. Design/methodology/approach This paper explores the return and volatility transmission between the Bitcoin, as the largest cryptocurrency, and other traditional asset classes, namely stock, bond and currencies from the standpoint of Turkey over the period July, 2010-June, 2018 using the newly developed multivariate econometric technique, VAR-GARCH, in mean framework with the BEKK representation. Findings The empirical results reveal the existence of the positive unilateral return spillovers from the bond market to Bitcoin market. Regarding the results of shock and volatility spillovers, there exists strong evidence of bidirectional cross-market shock and volatility spillover effects between Bitcoin and all other financial asset classes, except US Dollar exchange rate. Originality/value The important extention is the adoption of a newly developed multivariate econometric technique, VAR-GARCH, in mean framework with the BEKK representation, proposed by Engle and Kroner (1995), which is employed for the first time specifically to examine the extent of integration in terms of volatility and return between Bitcoin and key asset classes. Second, Bitcoin has experienced a rapid growth since around a decade and a number of investors are showing interest in its potential as an integrative part of portfolio diversification. The information provided by empirical results gives empirical bases from which to address topics concerning hedging purposes and optimal portfolio allocation. It is also increasingly important to analyze the current behavior of Bitcoin in relation to other assets to provide policy makers and regulatory bodies with guidance on the role of the Bitcoin as an investment asset in Turkey. Thus, this is the first serious attempt at exploring the potential for Bitcoin to offer diversification opportunities in the context of Turkey.
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    Article
    Yatırımcı Duyarlılığının Borsa İstanbul Sektör Endeks Getirileri Üzerine Etkisi
    (2015) Vardar, Gülin; Aydoğan, Berna
    Çalışmada 2004 Ocak2014 Ocak dönemine ait aylık veriler kullanılarak Türkiyedeki yatırımcı duyarlılığının Borsa İstanbul sektör endeks getirileri üzerindeki etkileri Yapısal Olmayan Vektör Otoregresyonu (VAR) ve Genelleştirilmiş Etki-Tepki Analizi yöntemleri ile test edilmiştir. Rasyonel yatırımcı duyarlılığında meydana gelen 1 standart sapmalık şok karşısında hiçbir sektör endeks getirisi tepki vermez iken irrasyonel yatırımcı duyarlılığına karşı Ulaştırma ve İletişim sektörleri hariç diğer tüm sektör getirilerinin anlamlı tepkiler vermesi VAR analizinden elde edilen ilişkiyi de destekler niteliktedir.
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    Article
    Citation - WoS: 5
    The the Impact of Gender Differences on Financial Risk Perceptions
    (Bilgesel Yayincilik San & Tic Ltd, 2010-07-01) Tutek, Hulya; Aydogan, Berna; Tunc, Gokce; Vardar, Gülin
    Empirical studies indicate that women are more risk averse than men. Research on financial risk taking behavior reveal mixed results on gender perception. The aim of this study, which is one of the pioneering papers about behavioral finance in Turkey, is to investigate the differences in risk perceptions of female and male financial advisors in Turkish financial institutions and how they reflect these perception differences on their female and male customers. This research employs questionnaire technique. The findings show that female financial advisors give more importance to the probability of gain or loss from financial investments as well as the reliability of financial information than their male counterparts. The designed hypothetical scenarios point out that female and male financial advisors propose different portfolios for female and male customers having same risk levels.
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    Article
    Citation - Scopus: 2
    The Impact of Financial Restructuring After 2001 Turkey Crisis on the Risk Determinants of Turkish Commercial Bank Stocks
    (International Economic Society, 2013) Erol C.; Seven Ü.; Aydoğan B.; Tunç S.
    This paper examines the risk features of Turkish commercial banks and the determinants of their systematic and unsystematic risks by analyzing the effects of financial reforms after 2001 crisis. The sample period is divided into two sub-periods: before financial restructuring period (1994-2000) and post-financial restructuring period (2001-2010). The OLS framework is utilized to investigate the impact of financial restructuring on the risk determinants. For the majority of the stocks in the sample, the results point out that turnover and size are the most explanatory variables for systematic risk and unsystematic risk, respectively in two sub-periods. As for the comparison of the before and post-financial restructuring periods, the results indicate that there is not a significant change in risk factors, suggesting that investors risk preferences are same for the analyzed period. © International Economic Society.
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    Article
    Citation - WoS: 1
    The Competitive Conditions of the Banking Industry in the Post-Crises Period: an Analysis of Turkish Banks
    (Bilgesel Yayincilik San & Tic Ltd, 2014-06-01) Vardar, Gulin; Aydogan, Berna; Seven, Unal
    After the 2000-2001 financial crises, the Turkish banking sector experienced a process of concentration, with the tendency for merger and acquisition activities, the revocation of licenses and the liquidation of some insolvent banks. This paper assesses the competitive structures in the Turkish banking industry over the period 2003-2011 using a rigidly statistical method of Panzar-Rosse (1987), and examines whether the banking system was affected by the structural changes initiated in the post crises period. The results indicate that competition in the banking sector is most accurately characterized by the theoretical model of monopolistic competition for the period under consideration. There is no evidence that the deregulation adopted after the crises resulted in a significant change in the competitive conditions in Turkish banking industry.