The purpose – It is important to emphasize that a research on relationship between tourism, finance and advertisement is very rare. The aim of this study is investigation of causal relationship between these variables. Design – In this paper, the relationship between tourism revenues and...

The nexus between Islamic banks' returns on term deposits (participation accounts) and conventional banks' (CBs) interest rates on term deposits is one of the controversies with regard to Islamic finance. The obvious correlation between two sides is considered a convergence of Islamic banking to...

In this study whether bubbles exist in the three biggest cities housing market, İstanbul (TR10), İzmir (TR31) and Ankara (TR51) which are important parts of Turkish housing market is investigated. Besides, SADF and GSADF unit root tests developed by Phillips et. al. (2011, 2012) is used in...

In this study, the optimality of cash conversion cycles of firms at foodbeverage index of BIST (Istanbul Stock Market) is investigated. Panel KSS unit root test developed by Uçar and Omay (2009), which is suitable for heterogeneous panels & for non-linear financial series and taking into...

In recent years, the spreads of CDS that are crucial aspects in detecting the financial risk level of countries have been taken more notice of by investors. In this paper, we investigate the relation between CDS spreads and countries' stock indices by using Basher and Westerlund (2009) panel...

In this study, the relationship between energy consumption and financial development is investigated via Hatemi-J asymmetric causality test (2012) which is able to separate positive and negative shocks in analysis. In order to determine different dimensions of financial system, deposit money...

In this study, the relationship between energy consumption and financial development is investigated via Hatemi-J asymmetric causality test (2012) which is able to separate positive and negative shocks in analysis. In order to determine different dimensions of financial system, deposit money...

In this study, the random walk hypothesis for emerging markets has been tested. First of all,Harvey et. al. (2008) linearity test was made in this study where different time intervals were handled. ADF (1979) unit root test was made to the linear series in order to test the efficiency of the...