Essays on Turkish Equity Market

on the Turkish Equity Market is a critical examination of dynamic properties of the price formation in the Turkish equity market. Chapter 1 examines the evidence of a weak-form efficiency of the Turkish equity market (TEM). A wide range of equity indexes and statistical tests, such as autocorrelation, stationarity, unit root, and variance ratio tests and estimation of the GARCH-In-Mean model, are employed to examine the random walk and martingale hypothesis in TEM. The results are effectively uniform and provide little supporting evidence regarding TEM's weak-form market efficiency hypothesis. Chapter 2 makes a significant contribution to understanding the time-varying efficiency of TEM. We examine the validity and persistence of the size effect in the cross-section of Turkish equity returns while correcting for the effects of noisy prices using the buy-and-hold method implemented in the literature. The size effect for the overall sample period of 18 years is consistent with the estimates for developed markets but, as expected, becomes statistically insignificant when the biases in computed returns are alleviated by calculating the buy-and-hold and risk-adjusted returns. Chapter 3 is a novel attempt to re-examine the time-varying efficiency of TEM, particularly using a natural experiment recently presented when Turkey faced the potential downgrade by MSCI from the emerging to the frontier market status in 2020. Turkey is similar to other emerging markets going through reversals in the degree of integration with the rest of the world. The decrease in the Turkey market betas from the historical highs is unlikely to signal a decrease in exposure to systematic risk and is more likely to be related to a prolonged decline in the market sentiment and a significant decrease in the degree of TEM integration. We also illustrate the likely effect of institutional investment flow on market betas of listed equities

Cognitive Approach in Development of Innovation Management Models for Company

AbstractThe tendency of transforming from resource and export based economy to resource and innovation based economy (the tendency that is characteristic for both Russian and Azerbaijani economies) requires promotion of innovative activities in all levels of management – federal, regional, corporate and in the level of separate entities. (Makarov V.L., Вvarshavskiy А.Y. and etc., 2004) In connection with this, the question of development and introduction of effective systems of innovation management, and in the first turn, company innovation management systems, (CIM), which are the main constitutional elements of national economy systems, becomes essential. (Bazilevich A.I., 2009).In modern complex economic conditions depth of processing CIM issues and substantiality of adopted management decisions is in the first turn and sufficiently determined by the quality of subsystem of scientific support. (Fatkhutdinov R.A.,1998).The report considers opportunity of use of cognitive approach for developing CIM models. The methodology of development of cognitive models of CIM sufficiently differs from generally accepted schemes discussed in Materials of inter. conf. “Cognitive Analysis and Management of Development of Situations”. CASC’2007. Main differences are that, along with using basic provisions of cognitive approach, the methodology takes into account specific characters of subject field of CIM reflected in publications, and, secondly, considers reproductive character of the process of developing CIM models, providing for wide use of progressive technological practice of innovations

Device-free localisation in the context of domestic energy saving control methods

A reduction in greenhouse gas emissions by the energy sector is required to decelerate global warming. With the domestic sector being the biggest energy consumer, a great amount of saving potential is available in the operation of dwellings. This thesis is proposing to improve domestic energy efficiency by combining energy saving control measures designed to be made by occupants and automation systems, called Combined Occupant and Automation Control (COAC). It highlights that the occupant’s position is necessary to effectively integrate both of those conservation methods. Three unobtrusive domestic occupant detection technologies were identified and compared for this purpose. Device-free Localisation (DfL), an emerging technology, which was found to be the most suited for a COAC system, was then investigated further by the means of a series of technical experiments. A questionnaire, investigating user perception of DfL and of COAC systems, was conducted. Furthermore, case studies were undertaken, during which three dwellings with real occupants received prototypes of a COAC system, consisting of automated washing appliances and a smart pricing scheme. As part of these case studies, semi-structured interviews were conducted. User preferences with regards to the COAC system’s interface and operation were established. Also, behavioural changes, induced by occupant control methods, were observed. The different studies furthermore found that financial gain was the main incentive to save energy. Automation system’s support in conserving energy was demonstrated to be distinctly appreciated and although security and privacy concerns were prevalent, DfL’s support was also permitted. Furthermore, guidance was developed for DfL setup and operation, especially with regards to using an automation system’s infrastructure for this purpose. In conclusion, this research suggests that the novel concept of integrating DfL and COAC meets the technical and practical requirements for general adoption, and hence provides another tool in the race against global warming

Tanınmış kişilerin markalaşmasında sosyal medyanın rolü : sanatçı Gülşen örneği

06.03.2018 tarihli ve 30352 sayılı Resmi Gazetede yayımlanan “Yükseköğretim Kanunu İle Bazı Kanun Ve Kanun Hükmünde Kararnamelerde Değişiklik Yapılması Hakkında Kanun” ile 18.06.2018 tarihli “Lisansüstü Tezlerin Elektronik Ortamda Toplanması, Düzenlenmesi ve Erişime Açılmasına İlişkin Yönerge” gereğince tam metin erişime açılmıştır.Kişisel marka kavramı, iletişim kanallarının çeşitlenmesi, bu yolla insanların bilgiye ve diğer insanlara erişe bilirliğin artmasıyla önemli bir kavram haline gelmiştir. Ticari marka olma kavramı süreçlerinin insanlara uyarlanması sonucu ortaya çıkması muhtemel değer artışının farkına varılmasıyla başlayan süreç, günümüzde birçok yönetim becerilerini de kapsayan bir çalışma alanı haline gelmiştir. Kişisel marka bilinci özellikle içinde bulunduğumuz dönemde profesyonel yaşamda çeşitli görev ve amaçlarla yer alan kişilerin yarattığı etki ile iz bırakma ve değer yaratma gücünü arttırmaktadır. Günümüzde yeterince bilinmeyen ve deneyimlenmeyen kişisel marka kavramı ise bireylerin, bir dizi kişisel pazarlama faaliyeti ile hedef kitleye kendilerini tanıtma çalışması olarak tanımlanmaktadır. Ancak kişisel markalaşmaya bir başka yönden bakıldığında da bireylerin, diğer kişiler tarafından nasıl algılandığının yönetilmesi ve bu yönde doğru algının yaratılması amacıyla kimliğin amaca uygun şekillendirilmesini de içermektedir. Bu kavram son yıllarda sosyal medyanın aktif olarak kullanılması ile birlikte sanal mecralar üzerinden de yönetilmekte, sanal mecralar da kişilerin kimlik yaratımına yönelik olarak elverişli bir ortam sunmaktadır. Çalışmada, sosyal medyada kişisel markalaşma süreci incelenmiş; bu bağlamda sanatçı Gülşen ile röportaj yapılmıştır. Ayrıca 400 kişiye anket uygulanmış, bulgular demografik özellikler, sosyal medya kullanımı, kişisel markalaşma olarak 4 grupta incelenmiştir.Personal brand has become an important concept by diversified communications channels and increasing access to information and other people. The process which has begun by noticing the possible value increase as a result of adapting the processes of the concept of being a commercial brand has been a business area that comprises a lot of management skills today. The conscious of personal brand increases the power of leaving a permanent mark and creating value by the effect of people who take place in the professional life for various duties and goals especially in the present era. Personal brand, not sufficiently known and experienced nowadays, is individuals' effort to promote themselves to target audience through a series of marketing activities. However, looking from a different perspective, forming identity accordingly by managing how others perceive and perceive as wanted is included. This concept in the last decade, as social media used more actively, is managed through virtual mediums and these mediums create a convenient environment for individuals identity creations. This study investigates about of personal branding and an interview was done with Gulsen who is Turkish singer. Also in this context, 400 people were surveyed. And research is analyzed under 4 topics—demographic attributes, use of social media, presenting oneself and personal branding

Human factors of train driving with incab control and automation technology

The European Train Control System (ETCS) as part of the ERTMS (European Rail Traffic Management System) is a train control and automation system, which has been introduced into the UK rail network. The major change with the introduction of the ERTMS has been the shift of the movement authority from signals outside on the tracks to inside the cab, and the introduction of speed profiles that the drivers must adhere to. The introduction of this new system triggered the need to understand its impact on the train driving task and train driver behaviour. In particular, the effect the ERTMS has on drivers’ cognitive strategies and demands. The overall aim of the thesis was to understand the effects of new train control and automation technology on train drivers’ behaviours. The research was conducted, using a mixed methods approach, in the rail environment with train drivers and rail experts. Literature reviews of existing train driving models, train driving research and associated issues of increasing control and automation on human behaviour; were used to provide the theoretical context for the thesis. The literature review highlighted that there was a potential shift in cognitive strategies and demands with the introduction of train automation and control technology. Due to the limited amount of research in train driving on the whole, but also train driving with automation and control technology, the majority of the literature hypothesised the possible impact of the introduction of automation and control technology. An exploratory study of some of the different forms of train driving in the UK, was used to generate insight about train driving with different forms of train technologies and provided the theoretical foundations for the following studies. The emerging cognitive themes also addressed the gap in knowledge about train driving with different forms of technologies. The emerging cognitive themes from this study included route knowledge and memory, monitoring, allocation of attention, anticipation, prioritisation and decision making. A semi-structured interview study with ERTMS drivers, addressed some of the questions raised in the previous study using ERTMS drivers’ subjective experiences. Since the exploratory study, the results demonstrated an adaptation and shift towards acceptance of the system and it also identified some of the driving strategies that had emerged. This chapter investigated drivers’ subjective experience, highlighting high-level strategy changes. A real world exploratory eye-tracking study with both conventional and ERTMS drivers on their normal timetabled routes, provided a wealth of data. The first level of the quantitative eye-tracking analysis, aimed to address the industry question of ‘heads up’ vs. ‘heads up, heads down driving’. It demonstrated a shift of typical visual attentional strategy from monitoring outside on the tracks to speed information inside the cab. Analysis of verbal protocol data collected in the eye-tracking study also provided some rich qualitative data about train driver strategies and demands. Further analyses of the eye-tracking data, identified events where there is a difference in visual behaviour between ERTMS driving and conventional driving, but also between each type of driving and its own baseline data. An expert elicitation workshop with ERTMS human factors experts, was used to generate requirements for a future train driving model. The main findings highlighted that several models are needed to help address some of the issues raised, as they could provide different uses, acting as ‘building blocks’ to the overall picture. Qualitative models can be used to provide the framework and language as a communication tool, whilst more quantitative models can be used to compute error and workload. Models need to be informed by cognitive theory but also focus on the train driving tasks and information used by train drivers. Finally, the studies presented in this thesis were used to develop an integrated human factors model of the influence of train automation and control technology on train driving and guidance was generated for future train driving models for both conventional and ERTMS train driving. The current research has contributed critical knowledge to both the academic literature but also informed human factors practitioners in the rail industry. The thesis has contributed novel understanding about train driving with a control and automation technology, which have already been utilised by the rail industry

Device-free localisation in the context of domestic energy saving control methods

A reduction in greenhouse gas emissions by the energy sector is required to decelerate global warming. With the domestic sector being the biggest energy consumer, a great amount of saving potential is available in the operation of dwellings. This thesis is proposing to improve domestic energy efficiency by combining energy saving control measures designed to be made by occupants and automation systems, called Combined Occupant and Automation Control (COAC). It highlights that the occupant’s position is necessary to effectively integrate both of those conservation methods. Three unobtrusive domestic occupant detection technologies were identified and compared for this purpose. Device-free Localisation (DfL), an emerging technology, which was found to be the most suited for a COAC system, was then investigated further by the means of a series of technical experiments. A questionnaire, investigating user perception of DfL and of COAC systems, was conducted. Furthermore, case studies were undertaken, during which three dwellings with real occupants received prototypes of a COAC system, consisting of automated washing appliances and a smart pricing scheme. As part of these case studies, semi-structured interviews were conducted. User preferences with regards to the COAC system’s interface and operation were established. Also, behavioural changes, induced by occupant control methods, were observed. The different studies furthermore found that financial gain was the main incentive to save energy. Automation system’s support in conserving energy was demonstrated to be distinctly appreciated and although security and privacy concerns were prevalent, DfL’s support was also permitted. Furthermore, guidance was developed for DfL setup and operation, especially with regards to using an automation system’s infrastructure for this purpose. In conclusion, this research suggests that the novel concept of integrating DfL and COAC meets the technical and practical requirements for general adoption, and hence provides another tool in the race against global warming

Three unobtrusive domestic occupancy measurement technologies under qualitative review

Almost one third of the UK's total energy is consumed by the domestic sector. Occupancy measurement could have the potential to save significant amounts of that energy, either instantly via a home automation system or retrospectively via post-occupancy evaluation. However, not many localisation technologies are applicable to a domestic environment. In this paper three unobtrusive occupancy measuring technologies, i.e. Passive Infra-Red (PIR), Carbon Dioxide (CO2) and Device-free Localisation (DfL), are compared. Their operation is explained and possible advantages and disadvantages are outlined. A qualitative experimental study then analyses the abilities of each system to detect overall occupancy, detect room level occupancy, count the number of occupants and localise them. It has been found that CO2 and PIR sensors are very limited. The impacts of other factors, such as windows or occupants’ metabolic rates, were significant on the reliability of the measured data. DfL on the other hand has great potential, but requires further research