Risk-return performances of real estate investment funds in Turkey including the Covid-19 period

The purpose of this research is to give an insight into the Turkish real estate investment funds (T-REIFs) by comparing their risk-return performances with the main benchmark investment tool Istanbul Stock Exchange-100 (BIST-100) Index. This study evaluated the performance of T-REIFs in four different periods between January 2017 and December 2020 (2017m1–2017m12, 2018m1–2018m12, 2019m1–2019m12 and 2020m1–2020m12) including the Coronavirus Disease (Covid-19) period by applying the Sharpe and Treynor ratios. In a well-diversified portfolio both ratios give the same results, but in the presence of non-systematic risk and the portfolio is poorly diversified, the Treynor ratio is a better indicator than the Sharpe ratio. The findings of this study show that rankings of Sharpe and Treynor ratios may differ for each period. These results also support the fact that the portfolios of funds in the Turkish real estate market are not well diversified. By providing corporate tax exemptions, and by enabling the investors to diversify their investments and reduce their risks, real estate investment funds are important alternatives to direct real estate investments in Turkey. In that context, being one of the pioneer studies in this niche and a new topic in emerging markets, analyzing the return performances of T-REIFs and comparing them with the returns of the BIST-100 index is aimed to contribute to literature as well as provide insight to investors who may consider investing in the Turkish real estate capital market instruments

Baro pullarında yapılan sahteciliğin kıymetli damgada sahtecilik suçu kapsamında değerlendirilip değerlendirilemeyeceği meselesi

En genel tanımıyla suçta ve cezada kanunilik ilkesi, suç teşkil eden fiiller ile bu fiiller karşılığında öngörülen yaptırımların kanunla düzenlenmiş olması anlamını taşır. Türk Ceza Kanunu'nun 199’uncu maddesinde "Kıymetli Damgada Sahtecilik" suçu düzenlenmiştir. Bu suçun konusu olan kıymetli damga kavramı, muayyen bir miktar vergi ya da harcın ödendiğini belgelemek amacıyla kullanılan pulları da kapsar. Türk Hukukunda avukatların vekaletnamelere yapıştırdığı baro pulu gibi bazı pul ve damgalar karşılığında ödenen bedeller vergi veya harç niteliğinde olmayıp, vergi benzeri mali yükümlülük niteliğindedir. Bu çalışmada, karşılığında ödenen bedel itibarıyla vergi benzeri mali yükümlülük niteliğinde olan baro pullarında yapılan sahtecilik eylemlerinin, "Kıymetli Damgada Sahtecilik" suçuna sebebiyet verip vermeyeceği hususu suçta ve cezada kanunilik ilkesi bağlamında değerlendirilmiştir

Siyasi partiler hakkında uygulanan devlet yardımından yoksun bırakma yaptırımının hukuki niteliği

Anayasa’da da ifade edildiği gibi siyasi partiler demokratik siyasi hayatın vazgeçilmez unsurlarıdırlar. Bugün için, siyasi partilerin mevcut olmadığı ve bunların adil bir seçim sistemi ile iktidar yarışına girmediği bir ülkede demokrasinin varlığından bahsedilemez. Ancak siyasi partilerin demokratik siyasi hayat bakımından arz ettiği önem, bunların her hâl ve şart altında faaliyetlerini sürdürebilecekleri anlamına gelmemektedir. Zorunlu bazı hâllerde siyasi partilerin kapatılması demokrasi ilkesini ihlal etmez. Nitekim Anayasa’nın 69’uncu maddesinde siyasi partilerin bazı yasak eylemleri işlemesi kapatılma sebebi olarak öngörülmüştür. Bu maddeye 2001 yılında eklenen bir hüküm ile işlenen fiillerin ağırlığı göz önünde bulundurularak, siyasi partiler hakkında kapatma kararı yerine Devlet yardımından kısmen veya tamamen yoksun bırakma kararı verilebilmektedir. Görüldüğü üzere bu yaptırım parti kapatma yaptırımına bir alternatif olarak öngörülmüştür. Hukukumuzda siyasi parti kapatma kararlarının hukuki niteliği tartışmalı olduğu gibi, bu yaptırıma alternatif olarak öngörülen Devlet yardımından kısmen veya tamamen yoksun bırakma yaptırımının hukuki niteliğinin ne olduğu hususu da aydınlatılmaya muhtaçtır. Çalışmamızda siyasi partiler hakkında uygulanan Devlet yardımından kısmen veya tamamen yoksun bırakma yaptırımının hukuki niteliği analiz edilecektir

Growth and reproduction studies on gilthead seabream (Sparus aurata) in Beymelek Lagoon, Turkey

In the present study, age, growth, length-weight relationship and reproduction were investigated in gilthead seabream (Sparus aurata L., 1758) collected from Beymelek Lagoon (Antalya, Turkey) between February 2006 and July 2007. The age, total length and weight of samples ranged from 0+ to 4 years, 10.6 to 35.5cm, and 18 to 928g, respectively. Growth was described by the standard form of the von Bertalanffy growth equation and the estimated parameters were L∞ = 44.6cm, k = 0.394yr^-1 and t0 = -1.331yr. Length-weight relationship was determined as W=0.0174TL^2.9769 (R^2=0.965), and weight increased with size isometrically (b = 2.9769) for all fish. Sex inversion occurred mainly at 26 cm in total length and females reached sexual maturity at 28.5 cm. The spawning period was from December to February, while the gamete emission peaked in December

Design and implementation of an isolated-word Turkish speech recognition system with data augmentation

Bu çalışmada toplamda doksan iki adet sesli komuttan oluşan bir yalıtık sözcüklü Türkçe konuşma tanıma sistemi tasarlanmış ve gerçekleştirilmiştir. Sistem, destek vektör makinesi (SVM) tabanlı olup, eğitimde kullanılan veri kümesi kaydedilen konuşmaların yapay olarak çeşitlendirilip artırılmasıyla elde edilmiştir. Farklı yapay veri oranlarının tanıma başarımı üzerindeki etkisi incelenmiştir. Akustik öznitelik olarak, mel frekansı kepstral katsayıları (MFCC) kullanılmıştır. Ayrıca, ses aktivitesi tespitinin ve MFCC katsayılarının tanıma başarımına etkileri de irdelenmiştir. Sonuçta doksan iki yalıtık komut için ortalama %92.6’lık doğrulukla çalışan bir konuşma tanıma sistemi geliştirilmiştir.In this study, an isolated-word Turkish speech recognition system comprising of ninety-two voiced commands has been designed and implemented. The system is support vector machine (SVM) based and the data set used in training has been obtained by augmenting the original recordings artificially. The effect of different augmented data amounts on recognition performance has been examined. As acoustic features, mel frequency cepstral coefficients (MFCC) were used. Moreover, the effects of voice activity detection and MFCCs on recognition performance have also been investigated. In the end, 92.6% recognition accuracy on average has been obtained for ninety-two isolated commands

Çocuğun gelişiminde bağlanma, ilgi-bakım ve aile dinamiklerinin etkisi

TÜBİTAK SBB01.02.200

Real-world efficacy and safety of Ledipasvir plus Sofosbuvir and Ombitasvir/Paritaprevir/Ritonavir +/- Dasabuvir combination therapies for chronic hepatitis C: A Turkish experience

Background/Aims: This study aimed to evaluate the real-life efficacy and tolerability of direct-acting antiviral treatments for patients with chronic hepatitis C (CHC) with/without cirrhosis in the Turkish population.Material and Methods: A total of 4,352 patients with CHC from 36 different institutions in Turkey were enrolled. They received ledipasvir (LDV) and sofosbuvir (SOF)+/- ribavirin (RBV) ombitasvir/paritaprevir/ritonavir +/- dasabuvir (PrOD)+/- RBV for 12 or 24 weeks. Sustained virologic response (SVR) rates, factors affecting SVR, safety profile, and hepatocellular cancer (HCC) occurrence were analyzed.Results: SVR12 was achieved in 92.8% of the patients (4,040/4,352) according to intention-to-treat and in 98.3% of the patients (4,040/4,108) according to per-protocol analysis. The SVR12 rates were similar between the treatment regimens (97.2%-100%) and genotypes (95.6%-100%). Patients achieving SVR showed a significant decrease in the mean serum alanine transaminase (ALT) levels (50.90 +/- 54.60 U/L to 17.00 +/- 14.50 U/L) and model for end-stage liver disease (MELD) scores (7.51 +/- 4.54 to 7.32 +/- 3.40) (p<0.05). Of the patients, 2 were diagnosed with HCC during the treatment and 14 were diagnosed with HCC 37.0 +/- 16.0 weeks post-treatment. Higher initial MELD score (odds ratio [OR]: 1.92, 95% confidence interval [CI]: 1.22-2.38; p=0.023]), higher hepatitis C virus (HCV) RNA levels (OR: 1.44, 95% CI: 1.31-2.28; p=0.038), and higher serum ALT levels (OR: 1.38, 95% CI: 1.21-1.83; p=0.042) were associated with poor SVR12. The most common adverse events were fatigue (12.6%), pruritis (7.3%), increased serum ALT (4.7%) and bilirubin (3.8%) levels, and anemia (3.1%).Conclusion: LDV/SOF or PrOD +/- RBV were effective and tolerable treatments for patients with CHC and with or without advanced liver disease before and after liver transplantation. Although HCV eradication improves the liver function, there is a risk of developing HCC.Turkish Association for the Study of The Liver (TASL

Watershed kesimlemesi ve yoğunluk-eğim yönelimi yaklaşımları kullanılarak deprem hasar tespiti.

Earthquake is one of the most destructive natural disasters on earth. Rapid and reliable post-quake damage assessment has an important role to reduce the drastic effects of an earthquake by setting the responsible agencies in motion. In this study, the collapsed buildings due to earthquake were detected from post-event aerial images. Two approaches were proposed to detect the collapsed buildings. These approaches were implemented in a selected urban area of Golcuk. The first approach was based on the analysis of shadow casting edges. First, the shadow casting edges of the buildings were identified and a buffer zone was generated for each building polygon along these edges. Then, the shadow regions were detected using the watershed segmentation algorithm. This was followed by measuring the agreement between the shadow producing edges of the buildings and their corresponding shadows. Of the 284 buildings analyzed, 229 were successfully labeled as collapsed or un-collapsed providing an overall accuracy of 80,63%.In the second approach, a two-branch method based on building light intensities and the gradient orientation was used. In the first branch, an intensity threshold was determined and applied to building image patches. Then, a pixel ratio was computed to categorize the buildings. In the second branch, a series of processings were carried out including the smoothing of the building image patches and the determination of the magnitude and the orientation of the gradient. Then, an optimum angle threshold was determined to label the buildings. The final decision about the condition of a building was made by integrating the two branches. Of the 284 buildings analyzed, 254 were correctly labeled providing an overall accuracy of 89,44%. The same assessments were repeated after generating a one-pixel wide buffer zone around the building polygons and an overall accuracy ofM.S. - Master of Scienc

Fotogerçekçi 3-B bina modellerinin uydu ve yer seviyesi görüntülerinden otomatik olarak geriçatılımı.

This study presents an integrated framework for the automatic generation of the photorealistic 3-d building models from satellite and ground-level imagery. First, the 2-d building patches and the corresponding footprints are extracted from a high resolution imagery using an adaptive fuzzy-genetic algorithm approach. Next, the photorealistic facade textures are automatically extracted from the single ground-level building images using a developed approach, which includes facade image extraction, rectification, and occlusion removal. Finally, the textured 3-d building models are generated automatically by mapping the corresponding textures onto the facades of the models. The developed 2-d building extraction and delineation approach was implemented on a selected urban area of the Batikent district of Ankara, Turkey. The building regions were extracted with an approximate detection rate of 93%. Moreover, the overall delineation accuracy was computed to be 3.9 meters. The developed concept for facade image extraction was tested on two distinct datasets. The facade image extraction accuracies were computed to be 82% and 81% for the Batikent and eTrims datasets, respectively. As to rectification results, 60% and 80% of the facade images provided errors under ten pixels for the Batikent and eTrims datasets, respectively. In the evaluation of occlusion removal, the average scores were computed to be 2.58 and 2.28 for the Batikent and eTrims datasets, respectively. The scores are ranked between 1 (Excellent) to 6 (Unusable). The modeling of the total 110 single buildings with the photorealistic textures took about 50 minutes of processor running time and yielded a satisfactory level of accuracy.Ph.D. - Doctoral Progra

Örgütlü suçlar için öngörülen infaz rejimine ilişkin ayrıksı düzenlemelerin anayasa mahkemesi kararları ışığında değerlendirilmesi

Birçok ülke hukukunda olduğu gibi, Türk hukukunda da örgütlü suçlardan mahkûm olan kişiler tehlikeli suçlu olarak kabul edilip, bunlar hakkında diğer hükümlülerden farklı infaz hukuku müesseseleri uygulanmaktadır. Koşullu salıverilme, denetimli serbestlik gibi bazı genel infaz hukuku müesseseleri ise örgütlü suçlardan mahkûm olan kişiler hakkında daha ağır şekilde tatbik edilmektedir. Ceza infaz hukukunun temel amacı olan suçlunun ıslah edilerek yeniden topluma kazandırılmasının sağlanması noktasında, hükümlülere cezanın infazı sırasında tanınan bazı hakların da örgütlü suçlardan mahkûm olan kişiler için sınırlandırıldığına rastlanmaktadır. Bu çalışmada, Türk ceza infaz sisteminde örgütlü suçlardan mahkûm olan kişiler hakkında uygulanan söz konusu ayrıksı infaz müesseseleri incelenecektir. Ayrıca, örgütlü suçlardan mahkûm olan kişiler hakkında uygulanan bu ayrıksı infaz düzenlemelerinin eşitlik, hukuk devleti ve kanunilik ilkelerini ihlal edip etmediği, Anayasa Mahkemesi kararları doğrultusunda analiz edilecektir