Usul, Naime

Scholarly Output Search Results

Now showing 1 - 3 of 3

Citation - WoS: 4
Citation - Scopus: 7
The Stock and Cds Market Consequences of Political Uncertainty: The Arab Spring
(Routledge Journals, Taylor & Francis Ltd, 2022) Savaser, Tanseli; Usul, Naime; Tanyeri, Basak
We investigate how political unrest affects asset prices in the context of the Arab Spring. Abnormal returns in the major stock-market indices of Arab Spring countries average -1.1% on key days of Arab Spring and abnormal changes in credit default spreads average 1.4%. There is significant reaction to region wide as well as local protests indicating a spillover with protests in neighboring countries affecting investors' perception of local political instability and the pricing of assets. Once protests start locally, investors start paying more attention to what is happening at home than in the region. The significant stock market reaction to region-wide protests in Arab Spring countries indicates a spill-over where investors price an increase in the probability of political turmoil in one country when there are protests in neighboring countries. The decline in stock market indices coupled with the increase in credit default spreads indicates that investors anticipate and ex-ante price how current political uncertainty will affect firm value.
Finansal Yatırım Kararında Duygusal Faktörlerin Rolü: Bir Literatür Taraması
(2020) Usul, Naime
Modern finans teorisine göre yatırımcılar yatırım kararlarını verirken piyasa bilgisine eksiksiz sahipolup, bu bilgiyi doğru analiz edip, sonuç olarak beklediği faydayı maksimize edecek şekilde karar verir. Bufayda riske göre getiridir. Dolayısı ile temel varsayımı “rasyonel yatırımcılar” ve “beklenen fayda teorisi” olanbu bakış açısı, yatırımcının belli bir riske göre getirisini maksimize edecek yatırım kararını vereceğini öngörür.Davranışsal finans ise yatırımcıların getiri ve risk dışında başka faktörlerden de etkilenebileceğini, bu sebeplerasyonellikten, hem mikro seviyede birey olarak hem de makro seviyede piyasaları etkileyecek şekildesapabileceğini savunur. Bu çalışma, irrasyonel yatırımcı davranışlarıyla ilgili literatüre genel bir bakış atıp,özellikle duygusal faktörlerin etkisine dikkat çekerek “duygu hevristiği” ve yatırım kararına olan etkisi ile ilgiliyeni çalışmaları desteklemeyi hedeflemektedir. Nispeten bakir olan bu alanda, disiplinler arası bakış açısıyla,psikoloji, sosyoloji ve pazarlama gibi diğer sosyal bilimlerden de katkı alarak yeni çalışmalar yapılmasının,yatırım kararlarında duygusal faktörlerin etkisinin anlaşılması açısından faydalı olacağı öngörülmektedir
Citation - Scopus: 3
Corporate Sustainability: the Use of Esg Scores in Finance Research
(IGI Global, 2023) Yilmaz, I.S.; Usul, N.
This chapter presents an overview of sustainable finance literature focusing on studies using environmental, social and governance (ESG) practices, and conducts a descriptive and comparative analysis of the Refinitiv ESG database worldwide. With increasing interest in ESG investing, it is common to integrate ESG factors into portfolio decisions. The authors first address the relevant literature to .set the background for further studies. The chapter documents an increasing trend in ESG reporting and points out differences in ESG scores in terms of development level, region, industry, and legal origin for the period 2002-2019. Theoretical models and empirical tests, which integrate ESG factors into corporate performance, can only be established by a better understanding of ESG databases. Therefore, further research in the Refinitiv ESG database, as well as other ESG databases, is significant. This chapter contributes to this stream of research by explaining the Refinitiv ESG database with descriptive and comparative analysis, paving the way for new research on the subject. © 2023, IGI Global. All rights reserved.

Usul, Naime

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Sustainable Development Goals

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CLIMATE ACTION

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DECENT WORK AND ECONOMIC GROWTH

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GOOD HEALTH AND WELL-BEING

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LIFE ON LAND

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PARTNERSHIPS FOR THE GOALS

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LIFE BELOW WATER

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QUALITY EDUCATION

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SUSTAINABLE CITIES AND COMMUNITIES

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CLEAN WATER AND SANITATION

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REDUCED INEQUALITIES

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INDUSTRY, INNOVATION AND INFRASTRUCTURE

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RESPONSIBLE CONSUMPTION AND PRODUCTION

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ZERO HUNGER

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NO POVERTY

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AFFORDABLE AND CLEAN ENERGY

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GENDER EQUALITY

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PEACE, JUSTICE AND STRONG INSTITUTIONS