Template-Type: ReDIF-Article 1.0 Author-Name: Funda H. SEZGİN Author-Email: fsezgin@istanbul.edu.tr Author-Workplace-Name: İstanbul Üniversitesi Author-Name: Tülin ATAKAN Author-Email: f.tulinatakan@gmail.com Author-Workplace-Name: İstanbul Üniversitesi Author-Name: Cem DEĞİRMENCİ Author-Email: degirmencic@gmail.com Author-Workplace-Name: İstanbul Üniversitesi Title: THE ANALYSIS OF ECONOMIC, FINANCIAL AND POLITICAL FACTORS EFFECTING THE CHANGES OF RATINGS ASSESSED BY THE CREDIT RATING AGENCIES: A SURVEY FOR TURKEY Abstract: Credit rating agencies examine the credit risks of countries according to certain criteria and present the rating results with certain grading symbols. Because financial actors prefer countries and industries with high investment grades as per the given ratings, credit ratings become even more important for developing countries which require capital. This study conducts a logistic regression model separately for the three well-known Rating Agencies, namely Moody?s, S&P and Fitch, to determine the economic, financial and political parameters that have an influence on changes in credit ratings given to Turkey by those institutions, for the period of 2000-2014. The results of the analysis put forward that, the gross domestic product (GDP) and the political risk index (PRI) variables are equally significant for each of the three credit rating agencies; and in addition, the stock market return (SMR) and the current account balance (CAB) for S&P, the external debt (ED) and the unemployment rate (UM) for Moody?s; and the external debt (ED) and the real interest rates (RIR) for Fitch, are also determined to be significant in changes in credit ratings. Journal: Eurasian Econometrics Statistics & Emprical Economics Journal Pages: 1-17 Volume: 1 Issue: 1 Year: 2015 Month: Feb DOI: 10.17740/eas.stat.2015.V1-01 File-URL: https://eurasianacademy.org/index.php/econstat/article/view/897 File-Format: Application/pdf Handle: RePEc:eas:econst:v:1:y:2015:i:1:p:1-17 Template-Type: ReDIF-Article 1.0 Author-Name: Hasan Alp ÖZEL Author-Email: alpalp78@hotmail.com Author-Workplace-Name: Karabük Üniversitesi Title: Analysis of Foreign Debt and Economic Growth in Turkey by Using Core Regression Abstract: The duration and volume of foreign indebting bear an important issue for every economy no matter how developed it is. Foreign indebting, which is applied when domestic savings can not meet the planned investments, causes different results based on the economic structures and the way that they use these funds. This study investigates the relationship between foreign debt and economic growth for Turkish economy using core regression method. The data have been obtained from the statistics database of World Bank for the years 1970 to 2013 annually. Existing data reveals that 1 unit increase in foreign debt of Turkey decreases economic growth at about 0,12 Journal: Eurasian Econometrics Statistics & Emprical Economics Journal Pages: 18-31 Volume: 1 Issue: 1 Year: 2015 Month: Feb DOI: 10.17740/eas.stat.2015.V1-02 File-URL: https://eurasianacademy.org/index.php/econstat/article/view/898 File-Format: Application/pdf Handle: RePEc:eas:econst:v:1:y:2015:i:1:p:18-31 Template-Type: ReDIF-Article 1.0 Author-Name: Betül GÜR Author-Email: bgur@ticararet.edu.tr Author-Workplace-Name: İstanbul Ticaret Üniversitesi Title: An Analysis of Purchasing Power Parity for the Turkish Economy Using Unit Root Testing with Multiple Structural Breaks Abstract: The application of the law of one price to the international market is purchasing power parity. Purchasing power parity associates the prices of all goods used in foreign trade with the exchange rate. If the purchasing power parity is valid, the changes in the nominal exchange rates balance the changes at the price levels among countries. Thus, the real exchange rate fluctuates about a fixed average. For this, the testing of the purchasing power parity can be done through studying the unit root properties of the real exchange rate. In this study, the real exchange rate for Turkey has been examined using unit root tests with standard and multiple breaks. It has been determined that purchasing power parity is not valid in the Turkish economy. Journal: Eurasian Econometrics Statistics & Emprical Economics Journal Pages: 32-42 Volume: 1 Issue: 1 Year: 2015 Month: Feb DOI: 10.17740/eas.stat.2015.V1-03 File-URL: https://eurasianacademy.org/index.php/econstat/article/view/899 File-Format: Application/pdf Handle: RePEc:eas:econst:v:1:y:2015:i:1:p:32-42 Template-Type: ReDIF-Article 1.0 Author-Name: Kutluk Kağan SÜMER Author-Email: kutluk@istanbul.edu.tr Author-Workplace-Name: İstanbul Üniversitesi Title: Effectiveness of technical analysis indicators over stock return: A Panel Data Approach Abstract: Technical analysis aims on visually identifying geometrical patterns and indicators in price charts in order to anticipate price ?trends?. This paper investigates the relations between return and technical analysis indicators of Turkish commercial banking sector in BIST-BANKING index for the period 1-1-2000- 31-12-2013. Technical analysis indicators are generated by taking into account the daily stock prices. The general steps go through the identification of the relations for the securities returns and technical analysis indicators. We illustrate the proposed with a panel data methodology including several securities of banking sector. Our investigation shows that there is a statistically significant relation between technical analysis indicators and stock returns as panel. Journal: Eurasian Econometrics Statistics & Emprical Economics Journal Pages: 43-56 Volume: 1 Issue: 1 Year: 2015 Month: Feb DOI: 10.17740/eas.stat.2015.V1-04 File-URL: https://eurasianacademy.org/index.php/econstat/article/view/900 File-Format: Application/pdf Handle: RePEc:eas:econst:v:1:y:2015:i:1:p:43-56 Template-Type: ReDIF-Article 1.0 Author-Name: Yunus BULUT Author-Email: ybulut79@gmail.com Author-Workplace-Name: İnönü Üniversitesi Author-Name: Ahmet DEMİRALP Author-Email: ahmt.dmrlp@gmail.com Author-Workplace-Name: İnönü Üniversitesi Author-Name: Şamil ŞIK Author-Email: muhammed.samil@inonu.edu.tr Author-Workplace-Name: İnönü Üniversitesi Title: ON B?RNBAUM'S MEASURE OF COMPONENT IMPORTANCE OF COHERENT SYSTEMS Abstract: Together with rapidly developing technology, nowadays, plenty of complex systems have emerged and some algorithms for reliabilities of these systems have been developed. System analysts have realized that one of the factors which affects the system reliability is importance of the components forming the system, so they have developed various methods which measure component?s importance. In this area, the first study was made by Birnbaum (Birnbaum, 1969,581-592). In this study, the reliabilities of coherent consecutive k-out-of-n,G systems and the Birnbaum?s component importance of these systems are investigated. For this purpose, Birnbaum?s importance measures of components of k-out-of-n,G systems are computed with Monte-Carlo simulations repeated by using different random numbers. In particular, the reliabilities of consecutive k-out-of-5,G systems and Birnbaum?s importance measures of components which belong to these systems are analyzed. Journal: Eurasian Econometrics Statistics & Emprical Economics Journal Pages: 57-64 Volume: 1 Issue: 1 Year: 2015 Month: Feb DOI: 10.17740/eas.stat.2015.V1-05 File-URL: https://eurasianacademy.org/index.php/econstat/article/view/901 File-Format: Application/pdf Handle: RePEc:eas:econst:v:1:y:2015:i:1:p:57-64 Template-Type: ReDIF-Article 1.0 Author-Name: İbrahim BOZKURT Author-Email: ibozkurt@karatekin.edu.tr Author-Workplace-Name: Çankırı Karatekin Üniversitesi Title: The Effect of the Financial Ratios on Foreign Investors? Choices of Stock: An Empirical Application on ISE Abstract: In the literature, many studies which aim to determine factors affecting investment decisions of foreign investors were done, because foreign investments have importance with regard to national economies, capital markets and firms. In the related studies, lots of factors were investigated for explaining the causes of the foreign capital mobility, but the effect of the financial ratios on the foreign capital mobility was not investigated comprehensively. The main purpose of this study is to investigate the effect of the financial ratios of firms traded in ISE on foreign investors? choices of stock. For this purpose, in this study, data of three-month financial statements of 193 firms traded on ISE between 2004/12-2014/09 and net quantities of stocks bought and sold by foreign investors were used as data. At the end of this study which used panel data regression methodology, it was revealed that foreign investors prefer the stocks of firms which increase net profit margin, current ratio and debt to equity ratio of theirs and decrease inventory turnover and short term financial debt to short term debt ratio of theirs. Journal: Eurasian Econometrics Statistics & Emprical Economics Journal Pages: 65-79 Volume: 1 Issue: 1 Year: 2015 Month: Feb DOI: 10.17740/eas.stat.2015.V1-06 File-URL: https://eurasianacademy.org/index.php/econstat/article/view/902 File-Format: Application/pdf Handle: RePEc:eas:econst:v:1:y:2015:i:1:p:65-79