Theses

PhD

Dynamiques à haute fréquence sur les marchés dirigés par les ordres: cas de la Bourse d'Istanbul (High-Frequency Dynamics in Order-Driven Markets: the Case of Istanbul Stock Exchange), Université Aix-Marseille III, 2006.

Committee: Claude Bensoussan (supervisor, Aix-Marseille III), Thierry Foucault (HEC), Roland Gillet (Paris I), Eric Girardin (Aix-Marseille II), Raymond Trémolières (Aix-Marseille III)

Master

L'Evolution intrajournalière des transactions à la Bourse d'Istanbul (Intradaily Patterns in Istanbul Stock Exchange), Université de Paris 1 Panthéon-Sorbonne, 2001.

Committee: Gaëlle Le Fol (supervisor), Thérèse Chevallier-Farat

Journal Articles

• Ekinci, C., Ersan, O., 2024. Impact of the COVID-19 Market Turmoil on Investor Behavior: A Panel VAR Study of Bank Stocks in Borsa Istanbul, International Journal of Financial Studies, Vol 12(1), 14.

• Salur, B.V., Ekinci, C., 2023. Anomalies and Investor Sentiment: International Evidence and the Impact of Size Factor, International Journal of Financial Studies, Vol 11(1), 49.

• Kahya, E.H., Ekinci, C., 2022. Disposition bias among Borsa Istanbul investors: What do we know about type, size and trading frequency?, Journal of Behavioral and Experimental Finance, Vol 35, 100682.

• Ipek, S., Ekinci, C., 2022. Cost efficiency in financial exchanges and post-trade infrastructures: a closer look at integration and product diversification, Eurasian Economic Review, 12, 705–743.

• Ekinci, C., Ersan, O., 2022. High-frequency trading and market quality: The case of a “slightly exposed” market, International Review of Financial Analysis, Vol 79, 102004.

• Cobandag Guloglu, Z., Ekinci, C., 2022. Liquidity measurement: A comparative review of the literature with a focus on high frequency, Journal of Economic Surveys, Vol 36(1), 41–74.

• Dalgıç, N., Ekinci, C., Ersan, O., 2021. Daily and Intraday Herding within Different Types of Investors in Borsa Istanbul, Emerging Markets Finance and Trade, Vol 57, 1793–1810.

• Ekinci, C., Bulut, A.E., 2021. Google search and stock returns: A study on BIST 100 stocks, Global Finance Journal, Vol 47, 100518.

• Ersan, O., Dalgic, N., Ekinci, C., Bodur, M., 2021. High-Frequency Trading and its Impact on Market Liquidity: A Review of Literature, Alanya Akademik Bakis, Vol 5(1), 345–368.

• Kahya, E.H., Ersen, H.Y., Ekinci, C., Tas, O., Simsek, K.D., 2020. Determinants of capital structure for firms in an Islamic equity index: comparing developed and developing countries, Journal of Capital Market Studies, Vol 4, 167–191.

• Ekinci, C., Akyıldırım, E., Corbet, S., 2019. Analysing the dynamic influence of US macroeconomic news releases on Turkish stock markets, Finance Research Letters, Vol 31, 155–164.

• Ekinci, C., Ersan, O., 2018. A New Approach for Detecting High-Frequency Trading from Order and Trade Data, Finance Research Letters, Vol 24, 313–320.

• İpek, S., Ekinci, C., 2017. Sermaye Piyasaları Altyapı Kurumlarının Endüstriyel Yapılanması (Industrial Organization of Capital Markets Infrastructure Institutions), Finans Politik ve Ekonomik Yorumlar, Cilt 54, Sayı 623, 77–96.

• Çobandağ Güloğlu, Z., Ekinci, C., 2016. A comparison of bid-ask spread proxies: evidence from Borsa Istanbul futures, Journal of Economics, Finance and Accounting, Vol 3, Issue 3, 244–254.

• Ersan, O., Ekinci, C., 2016. Algorithmic and High-frequency Trading in Borsa Istanbul, Borsa Istanbul Review, 16(4), 233–248.

• Ekinci, C., Erdamar, E.H., 2014. Türkiye'de Pay Getirileri ve Tahvil Faizi Değişimleri Arasındaki İlişki (The Relation between Stock Returns and Changes in Bond Yield in Turkey), Doğuş University Journal, 15(2), 235–246.

• Ekinci, C. and Kayacan, M., 2005. Menkul Kıymet Piyasalarının Mikroyapısı Üzerine Bir Çalışma (Microstructures in Asset Markets), İşletme, İktisat ve Finans, No 232, 56–69.

• Ekinci, C., 2005. Traiter la première heure de cotation (The First Hour of Trading), Action Future, No 17, 32–37.

Articles in Edited Books

• Akyıldırım, E., Altarovici, A., Ekinci, C., 2015. Effects of Firm-Specific Public Announcements on Market Dynamics: Implications for High-Frequency Traders, in Handbook of High Frequency Trading, Academic Press (Elsevier).

• Ekinci, C., Yıldırak, K., Taylan, A.S., 2012. High-frequency Performance of Value at Risk and Expected Shortfall: Evidence from ISE30 Index Futures, in Rethinking Valuation and Pricing Models, Academic Press.

• Yıldırak, K., Ekinci, C., 2012. A Review of Market Risk Measures and Computation Techniques, in Rethinking Valuation and Pricing Models, Academic Press.

• İltüzer Samur, Z., Ekinci, C., Taş, O., 2010. The Effects of Different Parameter Estimation Methods on Option Pricing: An Empirical Analysis, in Risk Modeling Evaluation Handbook, McGraw Hill.

• Taş, O., Ekinci, C., Tokmakçıoğlu, K., 2009. Indices and Price Book, Price Earnings, and Dividend Yield Ratios in Emerging Financial Markets, in Emerging Markets: Performance, Analysis and Innovation, CRC Press.

• Taş, O., Ekinci, C. and İltüzer, Z., 2009. Seasonality and the Relation between Volatility and Returns: Evidence from Turkish Financial Markets, in Stock Market Volatility, CRC Press.

• Ekinci, C., 2008. Intraday Liquidity in the Istanbul Stock Exchange, in Stock Market Liquidity: Implications for Market Microstructure and Asset Pricing, Wiley.

Full Text Conference Proceedings

• Ekinci, C., Yıldırak, K., Taylan, A.S., 2011. An Evaluation of Risk Measures at High Frequency, (International) Financial Engineering Conference, Izmir University of Economics.

• Taylan, A.S., Can, E., Yıldırak, K., Ekinci, C., 2011. VPIN Measure on TURKDEX, (International) Financial Engineering Conference, Izmir University of Economics.

• Ansal, H., Ekinci, C., 2009. Finansal Krizde Teknolojinin Rolü (The Role of Technology in the Financial Crisis), TMMOB Sanayi Kongresi, Ankara.

• Ekinci, C., 2006. A Correlation Analysis of Order Aggressiveness, AFFI Meeting, Poitiers.

• Ekinci, C., 2005. Limit Order Book Reconstruction and Beyond, EDGE-GREQAM Summer School, Aix-en-Provence.

• Ekinci, C., 2003. A Statistical Analysis of Intraday Liquidity, Returns and Volatility of an Individual Stock from the Istanbul Stock Exchange, METU Conference in Economics VII, Ankara.

Conference and Seminar Presentations

• Forecasting Financial Markets Conference, Rennes, 2023

• Forecasting Financial Markets Conference, Milan, 2022

• Boğaziçi University Financial Engineering (BUFE), Istanbul, 2022

• EBES Conference, Rome, 2022

• Kadir Has University, Departmental seminar, Istanbul, 2021 (online)

• Cryptocurrency Research Conference (CRC ), Southampton, 2021 (online)

• Global Business Research Congress, Istanbul, 2021 (online)

• City University of London, Economics seminar, London, 2019

• EBES Conference, Coventry, 2019

• A conference in honor of Ramazan Gençay, Bilgi U, Istanbul, 2019

• Financial Econometrics Conference, Lancaster, 2018

• Boğaziçi University Financial Engineering (BUFE), Istanbul, 2018

• SSEM EuroConference, Lodz, 2018

• Galatasaray University, Economics seminar (GIAM), Istanbul, 2018

• Turkish Capital Markets Association Conference, Istanbul, 2017

• CNAM, MBA seminar, Paris, 2017

• Turkish Capital Markets Association Conference, Istanbul, 2016

• Boğaziçi University Financial Engineering (BUFE), Istanbul, 2016

• Turkish Capital Markets Association seminar on Algorithmic Trading, Istanbul, 2016

• Middle East Technical University, 55th Meeting of EGWCFM, Ankara, 2015

• Borsa Istanbul Finance and Economics Conference (BIFEC), Istanbul, 2015

• Boğaziçi University Financial Engineering (BUFE), Istanbul, 2013

• EconAnadolu Conference, Eskişehir, 2013

• Okan University, Economics seminar, Istanbul, 2013

• Okan University, international conference, Istanbul, 2012

• Bahçeşehir University, BETAM seminar, Istanbul, 2012

• Middle East Technical University, Economics seminar, Ankara, 2012

• Istanbul Technical University, Economics seminar, Istanbul, 2012

• Izmir University of Economics, international conference, Izmir, 2011

• International Conference on Mathematical Finance and Economics (ICMFE), Istanbul, 2011

• Galatasaray University, Economics seminar (GIAM), Istanbul, 2011

• İş Yatırım Finans Atölyesi, Istanbul, 2010

• CNAM Econometrics Lab Seminar, Paris, 2007

• European Doctoral Group in Economics/GREQAM Summer School, Aix-en-Provence, 2007

• Vietnam Chamber of Commerce and Industry (VCCI) seminar, Paris, 2007

• Istanbul Stock Exchange, seminar, Istanbul, 2006

• French Finance Association (AFFI) Conference, Poitiers, 2006

• Forecasting Financial Markets Conference, Aix-en-Provence, 2006

• International Conference on High-Frequency Finance, Konstanz, 2006

• European Doctoral Group in Economics/GREQAM Summer School, Aix-en-Provence, 2005

• Vietnam Chamber of Commerce and Industry (VCCI) seminar, Paris, 2005

• INSEEC workshop, Paris, 2005

• RTN MicFinMa Summer School, Konstanz, 2004

• French Finance Association (AFFI) Conference, Paris, 2003

• METU International Conference in Economics VII, Ankara, 2003

Theses Supervised

PhD

• Bayram Veli Salur. Investor Sentiment: From Global to Local, ITU Graduate School (LEE), PhD Thesis, 2023.

• Evrim Hilal Kahya. Disposition Bias for Different Investor Categories in Borsa Istanbul, ITU Graduate School (LEE), PhD Thesis, 2022.

• Seven Ipek. Cost and Pricing Efficiency in Capital Market Infrastructures: A Closer Look at Integration and Product Diversification, ITU Graduate School of Arts and Social Sciences, PhD Thesis, 2019.

• Zeynep Çobandağ Güloğlu. Bid-Ask Spread, Liquidity and the Effects of Firm-Level and Market-Level Features, ITU Graduate School of Arts and Social Sciences, PhD Thesis, 2018.

Master

• Sena Nur Güven. Valuation of Holding Companies Listed on Borsa Istanbul, ITU Graduate School (LEE), Master Thesis, 2023.

• Sırma Şeker. How Effective Are the Advertising Expenses Made in the Worst Performing Year? A Worldwide Analysis, ITU Graduate School of Arts and Social Sciences, Master Thesis, 2019.

• Yağızhan Yılmaz. Profitability of Momentum and Contrarian Trading Strategies in the U.S. Stock Market, ITU Graduate School of Science, Engineering and Technology, Master Thesis, 2018.

• Ali Eray Bulut. Google Search and Stock Returns: A Study on BIST 100 Stocks, ITU Graduate School of Science, Engineering and Technology, Master Thesis, 2018.

• Burak Donel. Yapay Sinir Ağları Yöntemi ile Kredi Skorlama (Credit Scoring Using Artificial Neural Networks), ITU Graduate School of Science, Engineering and Technology, Master Thesis, 2012.

Research Projects

Principal Investigator

• ESG-Financial Performance Relationship and the Impact of Advertising and R&D Expenditures, TUBITAK  ARDEB 1001 (Nov 2022-Nov 2024)

• Classification, Detection and Analysis of Investors and Traders in Financial Markets, TUBITAK ARDEB 3001 (Dec 2017-Jun 2019)

• Effects of Algorithmic and High-Frequency Trading on BIST Stock Prices, ITU BAP Project (Dec 2022-May 2023)

Researcher

• Formation of a detailed high-frequency trading (HFT) management plan based on the analyses of HFT impacts on market mechanisms, market participants and social welfare, TUBITAK ARDEB 3501 project managed by Oğuz Ersan (November 2019-May 2022)

Other Research Activity

Member of the Scientific Committee

• Workshop on Market Microstructure and Behavioral Finance (WMMBF), Istanbul, 2019, 2022

• Finans Politik ve Ekonomik Yorumlar, 2016-present

• Journal of Economics, Finance and Accounting, 2015-present

• Global Business Research Conference (GBRC), 2015-present

• SSEM EuroConference, Lodz, 2018

• International Conference in Mathematical Finance and Economics (ICMFE), Istanbul, 2011

Ad Hoc Reviewer

• Annals of Operations Research (ANOR)

• Journal of Banking and Finance (JBF)

• Finance Research Letters (FRL)

• Emerging Markets Review  (EMR)

• Research in International Business and Finance (RIBAF)

• Borsa Istanbul Review (BIR)

• Emerging Markets Finance and Trade (EMFT)

• PLOS ONE

• Journal of Behavioral and Experimental Finance (JBEF)

• Economic Systems (ES)

• Journal of Economics and Finance (JOEF)

• Bulletin of Economic Research (BoER)

• Applied Economics (APE)

• Boğazici Journal

• Business Economics Research Journal (BERJ)

• Finans Politik ve Ekonomik Yorumlar (FPEY)

• Journal of Economics, Finance and Accounting (JEFA)

• International Economics and Finance Journal (IEFJ)

• Journal of Capital Markets Studies (JCMS)

• BDDK Dergisi

• Aurum Journal of Social Sciences

• Elsevier (books)

• Infiniti Conference, 2013

• International Conference on Numerical Analysis and Applied Mathematics (ICNAAM), 2010

• TUBITAK (ARDEB, BIDEB and TEYDEB research projects)

• ITU Arı Teknokent

• ITUNOVA TTO

• IU Teknokent (Entertech)

Invited Researcher

• Université Libre de Bruxelles (ULB), Solvay Business School, 2005 (3 months)

External Member of Dissertation Committee

• Boğaziçi U

• Kadir Has U

• Yeditepe U

Consultant

• Companies at ITU Arı Teknokent and ITUNOVA TTO