Browsing by Author "Taşkin, F. Dilvin"

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Citation - Scopus: 9
Adaptive market hypothesis
(International Strategic Management Association thalassi@unipi.gr, 2019) Pinar Evrim-Mandaci; Dilvin Taşkın; Zeliha Can Ergün; Ergün, Zeliha Can; Mandaci, Pinar Evrim; Taşkin, F. Dilvin
Purpose: To investigate the implications of the Addaptive Market Hypothesis (AMH) on Turkish stock exchange market (Borsa Istanbul) indices as an emerging economy. BIST-100 BIST-30 and BIST-All indices are subjected to the analyses for the period between January 2002 and April 2017. Design/Methodology/Approach: Two-year rolling windows and daily test values were calculated by using linear methods (Variance Ratio Test) and nonlinear methods (BDS test) to investigate the market efficiency. Findings: According to the Variance Ratio Test results index returns are unpredictable that is the market is efficient while the results of nonlinear analysis show the existence of adaptive market hypothesis. In particular all three indices display efficiency in the 2013-2016 period implying that returns were not predictable in this period. The results of the non-linear analysis show that the market is efficient from time to time and sometimes deviates from efficiency indicating the validity of the adaptive market hypothesis in Borsa Istanbul. Practical Implications: The changes in the market efficiency from time to time should be considered while taking important investment decisions. Moreover according to AMH since trends panics bubbles and crashes exist in the market arbitrage opportunities arise time to time and market timing is an important issue to catch the profit opportunities. Therefore as a further study matching the important events with the efficiency of the market could provide more insights about timing the market. Originality/Value: To the best of authors' knowledge this is the first comprehensive study that examines the index based AMH in Borsa Istanbul. This study is believed to contribute to the literature by giving insights about the evolution of market efficiency in Turkey. © 2020 Elsevier B.V. All rights reserved.
Citation - Scopus: 12
Corporate Social Responsibility (CSR) in Multinational Companies (MNCs) Small-to- Medium Enterprises (SMEs) and Small Businesses
(Springer International Publishing, 2021) Gizem Aras-Beger; Dilvin Taşkın; Aras-Beger, Gizem; Taşkin, F. Dilvin
The Corporate Social Responsibility (CSR) debate has long focused on multinational corporations (MNCs) driven primarily by a western-centric conception whereas the debate has remained largely limited for small-medium sized enterprises (SMEs) (Jamali et al. 2009). Even though SMEs may not have huge impacts on the economy individually their collective power is quite significant (Pastrana and Sriramesh 2014) as they comprise over 90% of businesses worldwide and account for about 60% of employment (Jenkins 2004, Vives 2006). As such SMEs and their specific attributes have recently attracted much attention in CSR research area (Jamali et al. 2009) although few studies have focused on the CSR behavior of SMEs (Grayson 2004, Spence 1999, Spence et al. 2000, Spence and Lozano 2000). Holliday (1995) and Spence (1999) describe SMEs as independent owner-managed firms that are stretched by multitasking have limited funds are built on personal relationships and controlled by informal mechanisms. As such SMEs generally lack the resources to generate knowledge about CSR and need the guidance of external stakeholders to perform CSR activities (Russo and Perrini 2010). MNCs differ from SMEs in terms of CSR conceptions motivations for engagement decision-making processes and challenges faced. According to Baumann-Pauly Wickert Spence and Scherer (2013) these differences regarding CSR actions between MNCs and SMEs stem from the relationship between firm size and organizational costs. © 2023 Elsevier B.V. All rights reserved.