Browsing by Author "Pata, Ugur Korkut"

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Citation - WoS: 31
Citation - Scopus: 42
Effects of Environment Social and Governance (ESG)disclosures on ESGscores: Investigating therole ofcorporategovernance forpubliclytraded Turkishcompanies
(Academic Press, 2024) Mustafa Tevfik Kartal; Dilvin Taşkın; Muhammad Shahbaz; Serpil Kılıç Depren; Ugur Korkut Pata; Taşkın, Dilvin; Korkut Pata, Ugur; Pata, Ugur Korkut; Kılıç Depren, Serpil; Shahbaz, Muhammad; Depren, Serpil Kilic; Kartal, Mustafa Tevfik
The world has experienced climate-related issues which increase the importance of ESG disclosures and corporate governance (CG) of companies which take place at the heart of economies. Therefore improving ESG disclosures and CG practices becomes significant to combat climate change at the company level. Considering that Türkiye restructured ESG disclosures in 2022 this study investigates the role of CG on the nexus between ESG scores of publicly traded companies (PTC) and ESG reports. So the study analyzes 102 PTC (full sample) 51 PTC in Borsa Istanbul Corporate Governance Index (in-sample) and the remaining 51 PTC (out-sample) using ESG disclosures of 2022 and applying novel super learner (SL) algorithm. Our results show that (i) SL has a higher prediction performance reaching ∼94.3%, (ii) the environment (governance) layer has the highest (lowest) total relative importance (contribution) to ESG scores in all samples, (iii) C8 S6 and E5 are the most important ESG principles in the full sample in-sample and out-sample respectively, (iv) the contribution of each ESG principles to the total ESG scores varies by sample, (v) CG plays a smoothing role for the relative importance of each ESG principle while the relative importance in the out-sample shows much higher volatility. Overall the study reveals the non-linear contributions of ESG principles on ESG scores and suggests that PTC should prioritize highly important ESG principles consider the moderating role of CG on the link between ESG scores and ESG disclosures and use ESG disclosures as a strategic tool to develop ESG scores and disclosures. © 2024 Elsevier B.V. All rights reserved.
Citation - WoS: 4
Citation - Scopus: 4
How are electricity generation effective on carbon neutrality in the global south? Evidence from sectoral CO2 emissions by daily data
(Elsevier B.V., 2024) Mustafa Tevfik Kartal; Ugur Korkut Pata; Dilvin Taşkın; Taşkın, Dilvin; Pata, Ugur Korkut; Kartal, Mustafa Tevfik
In light of the efforts to ensure carbon neutrality by combating climate-related problems the study investigates the effectiveness of electricity generation (EG) from the main renewable sources (hydro-HEG solar-SEG and wind-WEG). In this context the study examines the countries of the Global South (i.e. Brazil China and India) considers EG at a disaggregated level and sectoral CO2 emissions applies nonlinear methods and uses daily data between January 2 2019 and December 31 2022. The results demonstrate that (i) disaggregated EG sources have a stronger (weaker) time and frequency dependency on sectoral CO2 emissions in China (Brazil and India), (ii) HEG has a stimulating impact on sectoral CO2 emissions in all countries, (iii) SEG has an increasing impact on sectoral CO2 emissions in Brazil and China while it provides a decrease in sectoral CO2 emissions in India, (iv) WEG upsurges sectoral CO2 emissions in China while it achieves a CO2 reduction in Brazil and India, (v) disaggregated level EG has a causal impact on sectoral CO2 emissions across all quantiles except some lower middle and higher quantiles. The study adds scientific value to existing knowledge by analyzing for the first time which EG sources are effective in reducing daily CO2 emissions in the Global South. Based on the outcomes the study demonstrates that WEG is the best EG source for Brazil that SEG and WEG are optimal EG sources for India and that China cannot benefit from the EG sources considered. In this way the study provides fresh insights for the countries of the Global South and underlines the crucial role of renewable EG in ensuring carbon neutrality. © 2024 Elsevier B.V. All rights reserved.
Citation - Scopus: 1
Impact of disaggregated level clean electricity on CO2 emissions: Evidence from EU-5 countries by bivariate and multivariate QQ approaches
(SAGE PUBLICATIONS LTD, 2024) Tevfik Kartal; Ugur Korkut Pata; Dilvin Taskin; Shahriyar Mukhtarov; Taşkın, Dilvin; Mukhtarov, Shahriyar; Pata, Ugur Korkut; Kartal, Mustafa Tevfik
Considering the energy crisis in Europe and searching for alternatives this study investigates the impact of clean electricity generation (EG) types on the environment. So the study focuses on EU-5 countries (Germany-DEU Spain-ESP France-FRA United Kingdom-GBR and Italy-ITA) uses CO2 emissions as environmental indicator and considers clean EG types as explanatory variables by controlling geopolitical risk. Accordingly the study uses data from 2(nd) January 2019 to 29(th) February 2024 and applies bivariate and multivariate quantile-on-quantile regression (BQQ & MQQ) and Granger causality-in-quantiles (GCQ) as the fundamental approaches while quantile regression (QR) is performed for the consistency check. The outcomes reveal that (i) hydro EG increases CO2 emissions across countries excluding DEU at lower and middle quantiles, (ii) solar EG curbs CO2 emissions at middle quantiles in DEU higher quantiles in ESP and FRA and middle and higher quantiles in ITA, (iii) wind EG has an almost decreasing impact across quantiles excluding higher quantiles in DEU and FRA, (iv) clean EG types are almost causally impactful on CO2 emissions across quantiles, (v) geopolitical risk decreases the power of the impact of clean EG alternatives on CO2 emissions but does not change them in a reverse way. To sum up the impact of clean EG types on CO2 emissions in EU-5 countries varies across EG types quantiles and countries. Thus the study suggests that wind EG is highly beneficial for all EU-5 countries while there is also room for growth to benefit from hydro and solar EG for some countries.
Citation - WoS: 20
Citation - Scopus: 22
Modeling the link between environmental- social- and governance disclosures and scores: the case of publicly traded companies in the Borsa Istanbul Sustainability Index
(SPRINGER, 2024) Mustafa Tevfik Kartal; Serpil Kilic Depren; Ugur Korkut Pata; Dilvin Taskin; Tuba Savli; Taşkın, Dilvin; Kılıç Depren, Serpil; Pata, Ugur Korkut; Şavlı, Tuba; Depren, Serpil Kilic; Kartal, Mustafa Tevfik
This study constructs a proposed model to investigate the link between environmental social and governance (ESG) disclosures and ESG scores for publicly traded companies in the Borsa Istanbul Sustainability (XUSRD) index. In this context this study considers 66 companies examining recently structured ESG disclosures for 2022 that were published for the first time as novel data and applying a multilayer perceptron (MLP) artificial neural network algorithm. The relevant results are fourfold. (1) The MLP algorithm has explanatory power (i.e. R2) of 79% in estimating companies' ESG scores. (2) Common environment social and governance pillars have respective weights of 21.04% 44.87% 30.34% and 3.74% in total ESG scores. (3) The absolute and relative significance of each ESG reporting principle for companies' ESG scores varies. (4) According to absolute and relative significance the most effective ESG principle is the common principle followed by social and environmental principles whereas governance principles have less significance. Overall the results demonstrate that applying a linear approach to complete deficient ESG disclosures is inefficient for increasing companies' ESG scores, instead companies should focus on the ESG principles that have the highest relative significance. The findings of this study contribute to the literature by defining the most significant ESG principles for stimulating the ESG scores of companies in the XUSRD index.
Citation - WoS: 4
Citation - Scopus: 4
Relationship between monetary policy and financial asset returns in Türkiye: Time- frequency- and quantile-based effects
(ELSEVIER, 2024) Tevfik Kartal; Ugur Korkut Pata; Dilvin Taskin; Talat Ulussever; Taskin, Dilvin; Pata, Ugur Korkut; Ulussever, Talat; Kartal, Mustafa Tevfik
This study analyzes the effect of monetary policy which are proxied by weighted average cost of funding (WACF) and Borsa Istanbul repurchase interest rate (REPO) on the returns of the main financial assets of monetary policy in T & uuml,rkiye. Using daily data between January 4 2011 and August 31 2023 the study applies novel nonlinear time-series methods such as wavelet coherence (WC) and quantile-on-quantile regression (QQ) as baseline methods and quantile regression (QR) for robustness. The findings demonstrate that (i) monetary policy has a stronger effect on financial asset returns at middle and higher frequencies across different periods, (ii) monetary policy has mainly declines (increases) effect on financial asset returns at lower and middle (higher) quantiles, (iii) the robustness of the outcomes is confirmed. Thus the outcomes show that monetary policy has a significant effect on financial asset returns and the effects vary across times across frequencies quantiles and financial assets.