Tedik Kocakaya, Birce

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Profile URL
https://hdl.handle.net/20.500.14365/6851
Name Variants
Kocakaya, Birce Tedik
Job Title
Email Address
birce.tedik@ieu.edu.tr
Main Affiliation
03.04. International Trade and Finance
Status
Current Staff
Website
ORCID ID
0000-0003-3611-6892
Scopus Author ID
Turkish CoHE Profile ID
Google Scholar ID
WoS Researcher ID
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Scholarly Output

4

Articles

4

Views / Downloads

10/0

Supervised MSc Theses

0

Supervised PhD Theses

0

WoS Citation Count

5

Scopus Citation Count

5

WoS h-index

1

Scopus h-index

1

Patents

0

Projects

0

WoS Citations per Publication

1.25

Scopus Citations per Publication

1.25

Open Access Source

1

Supervised Theses

0

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JournalCount
Ekonomi Politika & Finans Arastirmalari Dergisi1
Finance a Uver-Czech Journal of Economics and Finance1
Journal of Mehmet Akif Ersoy University Economics and Administrative Sciences Faculty1
Renewable Energy1
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Now showing 1 - 4 of 4
  • Thumbnail Image
    Article
    Return Transmission Among Fossil Energy Commodities, Clean Energy Stocks, Green Bonds, and Energy Cryptocurrency
    (Mehmet Akif Ersoy Univ, 2025) Evrim Mandaci, Pinar; Tedik Kocakaya, Birce; Cagli, Efe Caglar
    This paper investigates return transmission among fossil energy commodities (crude oil, natural gas, gas oil, unleaded gasoline, and heating oil), clean energy stocks, green bonds, and energy cryptocurrency markets. We consider Bloomberg's fossil energy subindices to proxy various energy commodities. We use the WilderHill Clean Energy Index (ECO) and Solactive Green Bond Index (GB) as proxies for clean energy stocks and green bonds. In addition, the Powerledger (POWR) coin is used to proxy energy cryptocurrency. We employ the TVP-VAR frequency connectedness technique for the period from November 12, 2017, to September 28, 2023. Our findings indicate a moderate level of interdependence with an apparent increase observed during the COVID-19 pandemic. Notably, short-term factors play a significant role in shaping this connectedness. Furthermore, the analysis identifies clean energy stocks, green bonds and energy cryptocurrencies as recipients, while all fossil energy commodities other than natural gas and gasoline are identified as transmitters. These conclusions have important implications for investors and policymakers.
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    Article
    The Effects of Global Volatility Indices on Green and Fossil Energy Markets
    (Charles Univ-Prague, 2025) Mandaci, Pinar Evrim; Cagli, Efe Caglar; Tedik Kocakaya, Birce
    Uncertainties cause significant fluctuations in financial markets. Energy markets are more susceptible to uncertainties because of their strategic importance. This paper examines connectedness among various implied volatility indices (stock, oil, gold, currency), green markets (green stocks, bonds), and fossil energy commodities (natural gas, oil, heating oil, gasoline) from November 2, 2012, to July 25, 2023, by employing Chatziantoniou et al. (2023)'s TVP-VAR model. We use Broadstock et al. (2022)'s Minimum Connectedness Portfolio technique to construct optimal portfolio weights and hedge ratios. Our findings reveal moderate interdependence, with an increase during the pandemic. Short-and longterm factors are equally significant in this connectedness. All volatility indices are volatility transmitters, while energy markets are recipients. We provide important implications for investors interested in energy markets and aiming at constructing optimal hedging strategies, as well as for policymakers aiming to develop policies to stabilize energy prices and increase the effectiveness ofgreen markets.
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    Article
    Finansal Stresin Fosil Enerji Emtiaları ile Yeşil Enerji Piyasaları Arasındaki Dinamik Bağlantılılığa Etkisi
    (Economic and Financial Research Assoc – EFAD, 2025) Cagli, Efe C.; Mandacı, Pınar Evrim; Kocakaya, Birce Tedik; Taşkın, Dilvin
    Bu makale, FSI (Finansal Stres Endeksi), VIX (Volatilite Endeksi) ve EPU (Ekonomik Politika Belirsizliği) gibi seçili stres değişkenlerinin yeşil piyasalar (hisse senetleri ve tahviller) ile fosil enerji emtiaları arasındaki dinamik bağlantılılık üzerindeki etkilerini incelemeyi amaçlamaktadır. Bağlantılılığı ölçmek için TVP-VAR modelini ve bu stres değişkenlerinin 1 Kasım 2012'den 15 Kasım 2022'ye kadar bu bağlantı üzerindeki etkilerini araştırmak için Fourier Kümülatif Granger Nedensellik testini kullanıyoruz. Sonuçlar, esas olarak kısa vadeli dinamiklerden kaynaklanan orta düzeyde getiri bağlantılılığı olduğunu gösteriyor ve bu da çeşitlendirmenin uzun vadeli yatırımlar için daha faydalı olabileceğini gösteriyor. COVID-19 salgını sırasında yüksek bağlantılılık gözlemliyoruz. Bağlantılılık, su şirketi hisseleri hariç, fosil enerji emtiaları arasında yüksek ancak yeşil hisse senedi ve tahvil piyasaları arasında düşüktür. Su hisselerinin piyasalar üzerinde önemli bir etkisi vardır, bunu petrol takip eder. Nedensellik test sonuçlarımız, FSI ve VIX'in bunların arasındaki bağlantılılığı etkilediğini göstermektedir.
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    Article
    Citation - WoS: 5
    Citation - Scopus: 5
    Quantile-on Connectedness of Uncertainty With Fossil and Green Energy Markets
    (Pergamon-elsevier Science Ltd, 2025) Mandaci, Pinar Evrim; Cagli, Efe C.; Taskin, Dilvin; Kocakaya, Birce Tedik
    This study explores links between uncertainty metrics and fossil and green energy sectors, applying an innovative quantile-on-quantile connectedness method to analyze spillovers across quantiles from August 2004 to December 2023. Our sample comprises the clean and fossil energy market indices and key uncertainty measures, including climate, economic, geopolitical, and infectious diseases uncertainty indices. All total connectedness indices were found to peak at extremely reversely related quantiles, except for climate policy uncertainty. The strongest connectedness is between high economic policy uncertainty and low clean energy returns. The economic policy uncertainty index was dynamically reversely related to energy markets in all quantiles. However, after 2016, the connectedness between climate policy uncertainty and energy market indices converted to positive, possibly due to the impact of the Paris Agreement. Compared to climate-related uncertainty, geopolitical and economic uncertainties have a notably more substantial influence on energy markets, particularly in the green energy sector. Other findings reveal that energy market performance significantly influences climate policy uncertainty, and that infectious disease uncertainty is transmitted across various quantiles. Given the findings, we propose policy implications for investors and policymakers, emphasizing the critical need for considering different quantiles in measuring the dynamic connectedness between various uncertainties and energy markets.