Öztürkkal, Ayşe Belma

Profile Picture
Profile URL
https://hdl.handle.net/20.500.12469/6099
Name Variants
Ozturkkal, Ayse Belma
Ayşe Belma Oztürkkal
Ö., Ayşe Belma
AYŞE BELMA ÖZTÜRKKAL
Ayşe Belma Öztürkkal
Ozturkkal,Ayse Belma
Oztürkkal, A.
Öztürkkal, AYŞE BELMA
Ӧztürkkal B.
Öztürkkal, Ayşe Belma
O.,Ayse Belma
Öztürkkal, A. B.
Ayşe Belma ÖZTÜRKKAL
Ayse Belma, Ozturkkal
Oztürkkal, Ayşe Belma
ÖZTÜRKKAL, AYŞE BELMA
O., Ayse Belma
Öztürkkal, A.
Öztürkkal,A.B.
A. Öztürkkal
Ozturkkal,A.B.
ÖZTÜRKKAL, Ayşe Belma
A. Oztürkkal
Öztürkkal B.
A. B. Öztürkkal
Ozturkkal, Belma
Öztürkkal, Belma
Job Title
Prof. Dr.
Email Address
[email protected]
Main Affiliation
International Trade and Finance
Status
Current Staff
Website
ORCID ID
0000-0003-1918-7293
Scopus Author ID
55512229700
Turkish CoHE Profile ID
Google Scholar ID
WoS Researcher ID
ABG-3585-2020

Sustainable Development Goals

11

SUSTAINABLE CITIES AND COMMUNITIES
SUSTAINABLE CITIES AND COMMUNITIES Logo

0

Research Products

17

PARTNERSHIPS FOR THE GOALS
PARTNERSHIPS FOR THE GOALS Logo

1

Research Products

14

LIFE BELOW WATER
LIFE BELOW WATER Logo

0

Research Products

8

DECENT WORK AND ECONOMIC GROWTH
DECENT WORK AND ECONOMIC GROWTH Logo

3

Research Products

15

LIFE ON LAND
LIFE ON LAND Logo

0

Research Products

1

NO POVERTY
NO POVERTY Logo

2

Research Products

7

AFFORDABLE AND CLEAN ENERGY
AFFORDABLE AND CLEAN ENERGY Logo

0

Research Products

6

CLEAN WATER AND SANITATION
CLEAN WATER AND SANITATION Logo

0

Research Products

12

RESPONSIBLE CONSUMPTION AND PRODUCTION
RESPONSIBLE CONSUMPTION AND PRODUCTION Logo

0

Research Products

16

PEACE, JUSTICE AND STRONG INSTITUTIONS
PEACE, JUSTICE AND STRONG INSTITUTIONS Logo

0

Research Products

9

INDUSTRY, INNOVATION AND INFRASTRUCTURE
INDUSTRY, INNOVATION AND INFRASTRUCTURE Logo

1

Research Products

3

GOOD HEALTH AND WELL-BEING
GOOD HEALTH AND WELL-BEING Logo

1

Research Products

2

ZERO HUNGER
ZERO HUNGER Logo

0

Research Products

4

QUALITY EDUCATION
QUALITY EDUCATION Logo

0

Research Products

10

REDUCED INEQUALITIES
REDUCED INEQUALITIES Logo

5

Research Products

13

CLIMATE ACTION
CLIMATE ACTION Logo

0

Research Products

5

GENDER EQUALITY
GENDER EQUALITY Logo

2

Research Products
Documents

18

Citations

197

h-index

9

Go to Scopus profile
Documents

0

Citations

0

Go to WoS profile
Scholarly Output

23

Articles

17

Views / Downloads

216/2196

Supervised MSc Theses

2

Supervised PhD Theses

1

WoS Citation Count

156

Scopus Citation Count

198

WoS h-index

8

Scopus h-index

9

Patents

0

Projects

0

WoS Citations per Publication

6.78

Scopus Citations per Publication

8.61

Open Access Source

12

Supervised Theses

3

JournalCount
Emerging Markets Finance and Trade2
Borsa Istanbul Review2
Journal of Behavioral and Experimental Finance2
İktisat İşletme ve Finans1
International Finance1
Current Page: 1 / 3

Scopus Quartile Distribution

Competency Cloud

GCRIS Competency Cloud

Filters

2012 - 2019102020 - 202513
Reset filters

Settings

Scholarly Output Search Results

Now showing 1 - 10 of 23
  • Thumbnail Image
    Article
    Citation - WoS: 2
    Citation - Scopus: 2
    Explaining Mortgage Defaults Using Shap and Lasso
    (Springer, 2024) Ozturkkal, Belma; Wahlstrom, Ranik Raaen; Wahlstrøm, Ranik Raaen
    We utilize machine learning methods to model the credit risk of mortgages in a significant emerging market. For this purpose, we investigate a multitude of variables that explain the characteristics of the loans, the demographics of the borrowers, and macroeconomic factors. We employ SHapley Additive exPlanations (SHAP) values in conjunction with five different tree-based machine learning methods, as well as the least absolute shrinkage and selection operator (LASSO) in conjunction with logistic regressions. Our findings, which are robust across two sampling schemes, reveal that while demographic variables are significant and important, loan-specific and macroeconomic variables are the most crucial in explaining mortgage defaults. As existing literature on mortgage default has primarily focused on advanced markets, we aim to bridge this gap by concentrating on emerging market data. We also share our code, which we hope will encourage others to utilize the methods we have applied.
  • Thumbnail Image
    Article
    Citation - WoS: 18
    Citation - Scopus: 26
    The Role of Environmental, Social, Governance (ESG) Practices and Ownership on Firm Performance in Emerging Markets
    (Routledge Journals, Taylor & Francis Ltd, 2023) Bilyay-Erdogan, Seda; Ozturkkal, Belma
    This paper investigates: (i) the effect of environmental, social, and governance (ESG) engagement and ownership attributes on firm performance and (ii) whether different ownership attributes (institutional, foreign, and state ownership) moderate the association between ESG engagement and firm performance. Employing an extensive sample from 22 emerging countries worldwide, we provide cross-country evidence that ESG engagement and its three pillars, i.e. environmental, social, and governance pillars, enhance firm performance, proxied with ROA and Tobin's Q. Moreover, institutional and foreign ownership positively impact firm performance. We present novel evidence that the positive impact of superior ESG engagement on firm performance is lower for higher institutional ownership companies than lower institutional ownership companies, but greater for higher foreign ownership companies than lower foreign ownership companies.
  • Thumbnail Image
    Book Part
    Social Finance in Developed Markets: Successes and Failures
    (Springer Nature, 2025) Ozturkkal, Belma
  • Thumbnail Image
    Conference Object
    Citation - Scopus: 1
    Investigating Gender Gap in Editorial Boards of Finance Journals: A Social Network Perspective
    (Springer International Publishing AG, 2025) Tarantola, Claudia; Bedowska-Sojka, Barbara; Mare, Codruta; Paccagnini, Alessia; Ozturkkal, Belma; Pisoni, Galena; Skaftadottir, Hanna Kristin
    This study explores gender disparities and network connections among Finance journal editors worldwide, focusing on the crucial role these editors play in shaping academic fields and promoting diversity and equity in publishing. Despite efforts by publishers to present gender profiles and maintain balance in reviewer selection, significant gender imbalances persist, particularly affecting women's representation on editorial boards. Utilizing network analysis, the study documents the prevalence of a few highly connected editors and underscores the gender disparity in editorial roles, highlighting the need for policy interventions to enhance diversity and inclusion. Utilizing various typological metrics, we identify a core group of highly interconnected editors who hold positions on multiple boards. The gender distribution remains skewed towards men, even among editors with central roles or those serving on numerous boards. This research underscores the persistent gender gaps within academic publishing networks and calls for a deeper understanding and remediation of these disparities to foster diversity and equity in the academic landscape.
  • Thumbnail Image
    Article
    Citation - WoS: 2
    Citation - Scopus: 1
    Editorial Boards of Finance Journals: The Gender Gap and Social Networks
    (Springer, 2025) Bedowska-Sojka, Barbara; Tarantola, Claudia; Mare, Codruta; Paccagnini, Alessia; Ozturkkal, Belma; Pisoni, Galena; Skaftadotti, Hanna Kristin
    We investigate gender disparities and network linkages among editors of Finance journals at the end of 2022. The role of journal editors in shaping academic disciplines is crucial, yet gender imbalances and the geographic concentration of editors remain poorly understood. Ethical considerations arise when examining the representation of women on editorial boards, as these imbalances can impact academic equity and the diversity of perspectives. We examine the gender composition of editorial boards and uncover the network structures among editors, seeking to shed light on the concentration of editorial power and its implications for diversity and inclusion. Our findings reveal that women account for an average of 20% of all editors, with notable variations across countries. Additionally, editorial affiliations are heavily concentrated in the United States and the United Kingdom. Through typological metrics, we identify highly connected editors with significant board memberships. While gender ratios remain consistent in substructures involving highly central editors or those serving on multiple boards, men consistently outnumber women.
  • Thumbnail Image
    Article
    Citation - WoS: 3
    Citation - Scopus: 3
    Regional Expansion of Emerging Market Banks: Evidence From the Middle East
    (Routledge Journals, Taylor & Francis Ltd, 2022) Yildirim, Canan; Ozturkkal, Belma
    This study investigates challenges and opportunities that regionally expanding emerging market banks face. We focus on four leading Middle Eastern banks' internationalization trajectories and performances by employing a case study approach. We first examine the four banks' choices of target markets, entry sequencing, and entry modes over time and then analyze their entry strategies and post-entry financial performances in one of their key markets, Turkey. We show that the success of regional expansion strategies depends on parent bank characteristics such as scale and capital strength, strategic decisions regarding entry mode and timing, and host market structure and competitiveness.
  • Thumbnail Image
    Doctoral Thesis
    Türkiye'de Banka Aracılığında Ticaret Finansmanını Belirleyen Faktörler
    (2025) Tavşanlı, Melike Betül; Öztürkkal, Belma
    Ticaret, ekonomik büyümenin temel itici güçleri arasında yer alır. Daha önce kaleme alınan akademik çalışmalar ticaret finansmanının ticarete desteğini ortaya koymuştur. Tezimiz, önemli bir gelişmekte olan pazar olan ve ayrıca dünyanın geri kalanıyla güçlü ve geniş ticari bağlara sahip Türkiye'de banka aracılığında ticaret finansmanını belirleyen faktörlere odaklanmaktadır. Bu çalışmada, banka aracılığında ticaret finansmanını Akreditif (LC) ile endeksliyoruz. LC, uluslararası ticarette riskleri azaltmaya yönelik bir araç olarak düşünülebilir ve gelişmekte olan bir ülke olan Türkiye, banka aracılığının riski ortadan kaldıran niteliği açısından iyi çıkarımlar sağlamaktadır. Bu tez kapsamında, Türk bankalarının bilanço dışı kalemlerinden ve yatırımcı sunumlarından derlenenbir veri setine dayanan ve Türkiye'de banka aracılığında ticaret finansmanının belirleyicilerini saptayan bir model oluşturuyoruz. Türk bankacılık sektörü varlıklarının %95' inden fazlasını temsil eden otuz üç Türk bankasını içeren ve 2002 ile 2022 yılları arasındaki seksen bir mali çeyreği kapsayan bir panel veri kümesi üzerinde olağan en küçük kareler (OLS) regresyonunu kullanıyoruz. Ticaret Finansmanı literatürüne katkılarımız manuel olarak bir araya getirilmiş yeni bir veri kümesini, Türkiye'de LC arzında bilanço, sahiplik, banka türü ve belirsizlik faktörlerinin etkisini mikro düzeyde test eden yeni bir model oluşturulmasını, ayrıca kriz ve kredi derecelendirme notu değişikliği dönemlerine odaklı ek analizleri içermektedir. Test sonuçlarımız, Türkiye'de LC arzının belirlenmesinde sermaye, krediler, mevduat, şube sayısı, mülkiyet, banka türü ve belirsizliğin önemli unsurlar olduğunu göstermektedir. Ayrıca, yaptığımız ek analizler, yabancı sermayedarlara sahip Türk bankalarının kriz dönemlerinde dış ticaret finansmanını azaltma eğiliminde olduklarını ve 2008 Küresel Mali Krizi'nin Türk bankalarının dış ticaret finansmanı aracılığı faaliyetleri üzerinde uzun vadeli dönüştürücü bir etki yarattığını göstermektedir.
  • Thumbnail Image
    Review
    Citation - WoS: 17
    Citation - Scopus: 32
    Enhancing portfolio management using artificial intelligence: literature review
    (Frontiers Media Sa, 2024) Sutiene, Kristina; Schwendner, Peter; Sipos, Ciprian; Lorenzo, Luis; Mirchev, Miroslav; Lameski, Petre; Cerneviciene, Jurgita
    Building an investment portfolio is a problem that numerous researchers have addressed for many years. The key goal has always been to balance risk and reward by optimally allocating assets such as stocks, bonds, and cash. In general, the portfolio management process is based on three steps: planning, execution, and feedback, each of which has its objectives and methods to be employed. Starting from Markowitz's mean-variance portfolio theory, different frameworks have been widely accepted, which considerably renewed how asset allocation is being solved. Recent advances in artificial intelligence provide methodological and technological capabilities to solve highly complex problems, and investment portfolio is no exception. For this reason, the paper reviews the current state-of-the-art approaches by answering the core question of how artificial intelligence is transforming portfolio management steps. Moreover, as the use of artificial intelligence in finance is challenged by transparency, fairness and explainability requirements, the case study of post-hoc explanations for asset allocation is demonstrated. Finally, we discuss recent regulatory developments in the European investment business and highlight specific aspects of this business where explainable artificial intelligence could advance transparency of the investment process.
  • Thumbnail Image
    Article
    A Tournament Analysis of Mutual Funds in Turkey
    (Bilgesel Yayincilik San & Tic Ltd, 2012) Öztürkkal, Belma; Erdem, Orhan
    This is an analysis of the mutual funds in Turkey with respect to their risk-altering behavior Using the monthly returns and volatilities of 133 funds from 2002 to 2007 we divide each year in two parts and check whether or not the funds' performance in the first part affects the behavior of mutual fund companies in the second part in terms of risk. We find sufficient evidence that the funds which have lower/higher performance in the first part of the year have higher/lower risk appetite for the second half of the year: The results have stronger significance if the year is divided from June or July. The results from the Turkish mutual funds market are generally in line with previous literature from developed countries.
  • Thumbnail Image
    Article
    Citation - WoS: 24
    Citation - Scopus: 29
    A Behavioral Analysis of Investor Diversification
    (Routledge Journals Taylor & Francis Ltd, 2014) Fuertes, Ana-Maria; Muradoğlu, Gülnur; Öztürkkal, Belma
    This paper studies the link between individual investors' portfolio diversification levels and various personal traits that proxy informational advantages and overconfidence. The analysis is based on objective data from the largest Turkish brokerage house tracking 59951 individual investors' accounts with a total of 3248654 million transactions over the period 2008-2010. Wealthier highly educated older investors working in the finance sector and those trading relatively often show higher diversification levels possibly because they are better equipped to obtain and process information. Finance professionals married investors and those placing high-volume orders through investment centers show poorer diversification possibly as a reflection of overconfidence. Our analysis reveals important nonlinear effects implying that the marginal impact of overconfidence on diversification is not uniform across investors but varies according to the investor's information gathering and processing abilities.