Browsing by Author "Durak, Mustafa Gurol"

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Citation - WoS: 1
Do Investors Reward the Quality of Integrated Reporting
(INT JOURNAL CONTEMPORARY ECONOMICS & ADMINISTRATIVE SCIENCES, 2024) Mustafa Gurol Durak; Mert Sarioglu; Sarioglu, Mert; Durak, Mustafa Gurol
The need for a holistic view in the new era of information processing by investors has brought along the integrated reporting practice. With this type of reporting firms do not only report financial information to investors, they also communicate the value creation process by relating financial information to nonfinancial ESG information. International Integrated Reporting Framework provides firms to publish high quality integrated reports. This study aims to examine if the quality of IR disclosure matters for investment decisions of investors and whether this result is affected by firm characteristics such as size age or financing preferences. The sample includes 1210 firm-year observations that are obtained by analyzing the integrated reports of 242 firms that are included in integrated reporting index presented in IFRS foundation website for the period between 2019 and 2023. The findings of fixed effects panel data analysis reveal a significant positive effect of IR quality on returns especially for bigger firms with less reliance on external financing. On the other hand firm age and willingness to disclose IR are not priced by investors. The findings of this paper could help the managers shaping the reporting preferences as well as financing decisions by considering their effects on firm value. However managers should also consider the incremental effects of their local investment environment as this study does not divide the sample for countries or regions.
Citation - WoS: 4
FACTORS AFFECTING THE COMPANIES' PREFERENCES ON INTEGRATED REPORTING
(INT JOURNAL CONTEMPORARY ECONOMICS & ADMINISTRATIVE SCIENCES, 2013) Mustafa Gurol Durak; Durak, Mustafa Gurol
The aim of this study is to reveal the factors affecting the companies' preferences towards publishing integrated reports. By reviewing the literature the factors are classified under two groups namely, country-specific factors and firm-specific factors. The general results obtained from studies on integrated reporting shows that in countries where societal values prevail over individual values where there is a high demand for information and where strong enforcement mechanisms exist it is expected that companies are more likely to publish integrated reports. From a micro-level (firm specific) perspective large and profitable companies with strong governance structure whose Boards include diverse perspectives are accepted to be closer to integrated reporting.
Citation - WoS: 23
Citation - Scopus: 31
Sustainable Consumption of Food: Framing the Concept through Turkish Expert Opinions
(MDPI, 2021) Feyza Tekinbas Ozkaya; Mustafa Gurol Durak; Onur Dogan; Zeki Atil Bulut; Rainer Haas; Tekinbas Ozkaya, Feyza; Durak, Mustafa Gurol; Haas, Rainer; Özkaya, Feyza Tekinbaş; Bulut, Zeki Atil; Dogan, Onur
The scarcity of natural resources together with the exponentially increasing world population has made the sustainable consumption of food (SCF) a crucial issue as it has impacts on a variety of environmental health economic and social dimensions. Considering the rarity of a holistic view in previous studies this study aims to assess the current situation in sustainable food consumption and develop suggestions from all aspects depending on the opinions of experts. In this direction semi-structured interviews are conducted with 25 experts from Turkey to frame the concept of SCF reveal the level of consumers' awareness and provide suggestions to support SCF implications. Experts have considered SCF from ecologic social economic and health perspectives, ecologic aspects being the most important followed by economic and social perspectives. Deficits on the consumer side are lack of awareness unplanned shopping and mistakes in post-consumption behavior. Lack of awareness about the consequences of meat production difficulties in changing lifestyles and lack of motivation of adults were identified barriers to SCF. Finally suggestions of the experts for achieving sustainability are mostly relevant to raising awareness on balanced nutrition and food waste with the help of training programs and the efficient use of communication channels such as social media.
The Effect of Institutional Quality on Banking Performance in Emerging Countries
(Savez Ekonomista Vojvodine, 2026) Celik, Ilyas; Halac, Umut; Durak, Mustafa Gurol
Banks play a crucial role in the economy and improving their performance leads to healthier economic activities. Therefore, the methods of efficiently measuring bank performance need to be highlighted. The CAMELS rating system has become the most comprehensive and contemporary measurement method in this context. Various factors, both bank-specific and countryspecific, affect bank performance. Among these factors, the Worldwide Governance Indicators reflect the public's perception of institutional quality, a proxy for country-specific factors. This study aims to analyze the impact of the Worldwide Governance Indicators on bank performance, using a sample of 1649 banks in 26 emerging countries within the 2008-2018 period. The system GMM results demonstrate that these indicators significantly affect banking performance in different aspects and directions.
Citation - WoS: 3
THE FUTURE OF CORPORATE REPORTING: INTEGRATED REPORTING
(INT JOURNAL CONTEMPORARY ECONOMICS & ADMINISTRATIVE SCIENCES, 2019) Mert Sarioglu; Ali Fatih Dalkilic; Mustafa Gurol Durak; Sarioglu, Mert; Dalkilic, Ali Fatih; Durak, Mustafa Gurol
Throughout the history many different reporting practices have been emerged in accordance with the needs of business environment such as financial corporate social responsibility and sustainability reporting. Today stakeholders want to be informed more in a simplest way but many stand-alone and genuinely long reports have been still prepared by companies to demonstrate their financial and non-financial outcomes. However it is inadequate to assess the reports separately to understand and make a decision on the actual performance of companies. Additionally creating value side of the current reports are still being debated. Therefore corporate reporting must move a step forward to express more with less which called as Integrated Reporting (IR) that combines the all pieces of puzzle. It isn't only integrating both financial and non-financial knowledge into a single and brief report but also integrated thinking of all aspects of businesses in terms of creating value over time. Accordingly the aim of this study is to emphasize advancements in corporate reporting towards the IR. Also it aims to explain its meaning main aspects and effects on the business environment. Today companies should comply with IR and this study is essential to contribute to the literature subsequent studies and companies.
USING MARKOV CHAINS IN PREDICTION OF STOCK PRICE MOVEMENTS: A STUDY ON AUTOMOTIVE INDUSTRY
(INT JOURNAL CONTEMPORARY ECONOMICS & ADMINISTRATIVE SCIENCES, 2018) Mustafa Gurol Durak; Ece Acar; Gorkem Ataman; Acar, Ece; Ataman, Gorkem; Durak, Mustafa Gurol
Stock price prediction is on the agenda of most researchers based on the uncertainty in its nature. In past two decades the literature on the development of prediction models for stock prices has extended dramatically. These studies mostly focused on specific industries such as banking and finance petroleum manufacturing and automotive. In line with prior studies the aim of this study is also to investigate the efficiency of Markov Chains Model which is one of the most commonly applied models in predicting the stock price movements for the firms operating in automotive industry and to reveal the possible contribution it can make to the decision making process of investors. Automotive industry is not only a major and industrial force worldwide but also is a locomotive power that serves to many other industries. Thus this study considers the firms operating in automotive industry and daily closing stock prices of all 13 automotive companies listed in Turkish Stock Market are collected for the calendar year of 2015. By defining three possible states (decrease increase and no change) individual state transition probability matrixes are formed for each company. Then using the probabilities provided with these matrixes different investment strategies are evaluated for the first five working days of 2016. According to the results of analysis it is concluded that applying Markov Chains generates a positive income or at least minimizes the loss.
USING MARKOV CHAINS IN PREDICTION OF STOCK PRICE MOVEMENTS: A STUDY ON AUTOMOTIVE INDUSTRY
(VARAZDIN DEVELOPMENT & ENTREPRENEURSHIP AGENCY, 2017) Gorkem Ataman; Ece Acar; Mustafa Gurol Durak; Ataman, Gorkem; Acar, Ece; Durak, Mustafa Gurol; M Cingula; M Przygoda; K Detelj
Stock price prediction is on the agenda of most researchers based on the uncertainty of its nature. In past two decades the literature on the development of prediction models for stock prices has extended dramatically. These studies mostly focused on specific industries such as banking and finance petroleum manufacturing and automotive. In line with prior studies the aim of this study is also to provide a means for investors helping them predict price movements of stocks from automotive industry by using Markov Chains as it is one of the most commonly applied models. Automotive industry is not only a major and industrial force worldwide but also is a locomotive power that serves to many other industries. Daily closing stock price data of all 13 automotive companies listed in Borsa Istanbul (BIST) are collected for the calendar year of 2015. By defining three possible states (decrease increase and no change) individual state transition probability matrixes are formed for each company. Then using the probabilities provided with these matrixes different investment strategies are evaluated in the first five working days of 2016. According to the results of analysis it is concluded that applying Markov Chains generates a positive income or at least minimizes the loss.