A major shortcoming of capital structure studies on developing economies is that they generally restrict their analyses to large publicly-traded manufacturing firms. Consequently, we know little about the applicability of various capital structure theories to firms that are private, small,...

[TR] Bu calismada, Turk bankacilik sisteminde kaldirac ile aktif buyumesi arasindaki iliski incelenmis, bu iki degisken arasinda pozitif ve anlamli bir iliski saptanmistir. Bu sonuc bankacilik sisteminin buyume gosterdigi donemlerde kaldirac oraninin arttigini, dolayisiyla kaldiracin dongusel...

[TR] Bu calismada Aralik 2002 sonrasi icin Turkiye’de banka kredilerindeki asiri genisleme donemleri alternatif kredi olçutleri dikkate alinarak tanimlanmakta ve soz konusu genislemelerle iliskili olan faktorler belirlenmektedir. Ozellikle getiri egrisindeki degisimler, reel doviz kuru, ABD...

This study examines whether bank shareholders bear the burden of required reserves tax by analyzing the reaction of banks’ stock returns to the changes in the required reserve ratio. Results show that increases in reserve requirements significantly lower bank returns implying that shareholders...

We analyze different dimensions of liquidity on the Istanbul Stock Exchange (ISE) by using detailed order and transaction data for all ISE stocks. We estimate the limit order book on the ISE at each point in time and examine the intraday behavior of spreads, depths, returns and volume. We find...

Recent empirical research has demonstrated that countries with higher levels of religiosity are characterized by greater income inequality. We argue that this is due to the lower level of government services demanded in more religious countries. Religion motivates individuals to engage in...

There has been an explosion of innovation backed by venture capital since late 1970’s. Nonetheless, a great deal of innovation still occurs within large companies. In this paper, I investigate the factors that determine when innovation is performed by venture-backed firms and when by large...

Turkiye’de islenmemis gida urunleri fiyatlari tuketici fiyat endeksindeki diger mal ve hizmet gruplarina gore daha dalgali bir seyir izlemektedir. Bu calismada, sektordeki farkli kesimlerden uzman kisilerle gerceklestirilmis mulakatlardan yola cikilarak, soz konusu fiyatlardaki yuksek...

The procyclical behavior of credit supply amplifies the business cycles. One of the aims of the traditional macro-prudential policies is to smooth the business cycle fluctuations by mitigating the excessive volatility in the risk appetite of financial intermediaries. This study shows that...

Many central banks in emerging economies have used reserve requirements (RR) to alleviate the trade-off between financial stability and price stability in recent years. Notwithstanding their widespread use, transmission channels of RR have remained largely as a black-box. In this paper, we use...