RESEARCH REPORTS

CEF produces and disseminates qualified research outcomes in the field of financial economics. You can find research reports, academic researches published in academic journals, study articles and research data that will be updated regularly in this section.

31.08.2024

Return and Risk Features of Asset Classes in Türkiye and the World

This research report compares the historical returns and risk profiles of assets such as equities, government and corporate bonds, gold and real estate.

01.08.2024

Inflation Expectations of Turkish Households

This research report provides descriptive statistics for a face-to-face survey of 3,200 households about their expectations for the economy and the factors affecting these expectations.

25.07.2024

Carbon Emissions and Firm Properties in Türkiye

This research report investigates the relation between carbon emissions of companies operating in Türkiye and variables that measure firm size, financial leverage, investment, company growth and return on equity.

20.08.2023

Carbon Emissions of Turkish Companies

This research report investigates how carbon emissions have changed across time and among industries for Turkish companies.

08.07.2023

Financial Inclusion in Turkey

This research report focuses on financial access, use of financial services and financial well-being in Turkey based on the Global Findex Database of World Bank.

14.06.2023

Financial Inclusion in the World

This research report summarizes global financial inclusion trends based on the Global Findex Database of World Bank.

11.08.2022

Performance Metrics of Cryptocurrencies

This research report compares the performances of cryptocurrencies with the largest market capitalizations amongst each other and with the S&P 500 equity index.

11.08.2022

Sustainability in Borsa Istanbul

This research report investigates the industrial distributions, financial and governance qualities, and market performances of firms that are constituents of Borsa Istanbul Sustainability Index.

01.08.2022

Sectoral Indices in Borsa Istanbul during the Covid-19 Pandemic

This research report investigates the risk-adjusted performances of various sectoral indices that cover equities traded in Borsa Istanbul before and during the Covid-19 pandemic.

20.08.2021

Mood Seasonality in Turkish Equity Markets

This research report investigates the recurrence and reversal patterns of stock returns in Borsa Istanbul across periods during which market mood has been high and low and examines the role of mood beta in equity returns.

20.07.2021

Foreign Subsidiaries Of Turkish Banking Sector

This research report investigates the changes in the quantity, size and financial ratios of the foreign subsidiaries of Turkish banks over time and their dispersion across various countries.

20.06.2021

Market Skewness, Average Skewness and Aggregate Returns in Borsa Istanbul

This report investigates the predictive power of average skewness calculated from the daily returns of equities traded in Borsa Istanbul and market skewness calculated from the daily returns of the Borsa Istanbul equity index returns on one-month-ahead aggregate returns.

25.08.2020

Women’s Employment in the Turkish Banking Sector

This research report investigates the trends in women’s employment in the Turkish banking sector and how this variable affects bank performance and risk.

09.07.2020

Equity Pricing Factors in Turkish Markets

This research report investigates the relation between various asset pricing factors and equity portfolio returns in Borsa Istanbul.

29.06.2020

Initial Public Offerings and First-Day IPO Pricing Dynamics in Borsa Istanbul

This research report investigates the initial public offerings and the first-day IPO pricing dynamics in Borsa Istanbul in a sample period that covers between 2010 and 2019.

24.06.2019

Liquidity and Equity Returns in Borsa Istanbul

This research report presents various liquidity measures for stocks traded in Borsa Istanbul and investigates the relation between these measures and future equity returns.

20.05.2019

Private Sector Debt Instruments

This research report presents an overview of the private debt market in Turkey and investigates the impact of these issues on the equity market.

08.05.2019

Equity Return Anomalies in Turkish Markets

This research report examines 15 equity return anomalies documented in international markets in the context of Turkey and focuses on the relation between various firm characteristics and expected stock returns.

10.05.2018

A Time-Series Analysis of Optimal Portfolio Weights in Turkey

This research report presents a historical analysis of optimal portfolio weights for four different invesment vehicles in Turkey.

14.07.2017

Historical Performance Analysis of Country Equity Indices

This research report investigates the relative performances of various country equity indices using multiple risk metrics and sample periods

01.06.2017

Do Mergers and Acqui­sitions Create Econo­mic Value for Turkish Acquirers and Targ­et Firms?

This research report investigates the po­st-transaction stock return performances of Turkish public firms that have exper­ienced a merger or acquisition either as an acquirer or a ta­rget.

16.02.2017

Comparat­ive Performance Anal­ysis of Investment Vehicles in Turkey

This research report compares the risk-adjusted performances of various broad and sector-specific BIST equity indices and alternative investments such US dollar, euro, gold and S&P 500 index.