eurasian business and economics perspectives: proceedings of the 40th eurasia business and economics society conference

EBES conferences have been an intellectual hub for academic discussion in economics, finance, and business fields and provide network opportunities for participants to make long-lasting academic cooperation. This is the 27th volume of the Eurasian Studies in Business and Economics (EBES’s official proceeding series), which includes selected papers from the 40th EBES Conference which took place in Istanbul on July 6-8, 2022. The conference was organized with the support of the Istanbul Economic Research Association in hybrid mode with both online and in-person discussions at the Istanbul Ticaret University in Istanbul, Türkiye. Both theoretical and empirical papers in this volume cover diverse areas of business, economics, and finance from many different regions.

Dr. Hakan Danis is the Director in Economic Scenarios and OpRisk Modeling at MUFG (USA). Prior to this position, he worked at the Spanish multinational global bank Banco Bilbao Vizcaya Argentaria (BBVA) in USA as Senior Economist. He is one of the founders and first President of EBES. He also worked at Kadir Has University (Turkey) as research assistant. He has published articles in many of the leading economics and finance journals and currently serves as the Managing Editor of Eurasian Economic Review (a Springer Journal) which is indexed in SCOPUS. He was guest editor at Emerging Markets Finance & Trade (EMFT) (SSCI) and Singapore Economic Review (SER) (SSCI) multiple times and published several academic books. His current research and teaching interests include monetary policy, nonlinear applied time series, risk management in financial institutions and macroeconomics. He holds a PhD in Economics from University of Georgia (USA), M.A. and B.A. in Economics from Marmara University (Turkey).

Prof. Serkan Çankaya is a Professor of Banking & Finance at Istanbul Ticaret University and has been the head of the Department of Finance & Banking since 2021. He received an MBA in Finance from the University of West Georgia and a Ph.D. in Banking and Finance from Kadir Has University, where he held an administrative and research position at the Graduate School of Social Sciences. He also held visiting faculty position in University of Washington. He has published in several peer-reviewed international journals such as Borsa Istanbul Review and Applied Economics. His current research interests include behavioral finance and sustainable finance.

Assc. Prof. Ender Demir is an Associate Professor of finance at the Department of Business Administration, School of Social Sciences in Reykjavik University, Iceland. Dr. Demir has received his Ph.D. in Business from Ca Foscari University, Italy. He spent 6 months as a visiting Ph.D. student at Tel Aviv University, Israel. He has been teaching at Istanbul Medeniyet University, Yeditepe University (part-time) and Istanbul Bilgi University (part-time). Dr. Demir is the conference coordinator of Eurasia Business and Economic Society (EBES). He serves as the associate editor at Eurasian Business Review (SSCI) and as a subject editor at Journal of Multinational Financial Management (SSCI). He has published his research in peer-reviewed international journals, including Journal of Financial Stability, Emerging Markets Review, Finance Research Letters, and Journal of International Financial Markets, Institutions & Money, and Tourism Management. His research interest are corporate finance, Cryptocurrencies, financial economics, and tourism economics.

Prof. Dr. Mehmet Huseyin Bilgin graduated from the Department of Labor Economics at the Faculty of Economics at Istanbul University (1994) where he also earned an M.A. degree in Labor Economics (1996). Professor Bilgin received his Ph.D. from the Department of Economics at Abant Izzet Baysal University in 2000. After spent 3 years as Research Assistant at the Department of Economics at Abant Izzet Banysal University, he joined Kadir Has University as an assistant professor in 2000. In 2005, he started serving as an associate professor in macroeconomics and became a full professor at the Department of International Economic Integration at Istanbul Medeniyet University in 2011. He taught at Kadir Has University between 2000-2011 and served as the head of the Department of International Finance at the same university during 2009-2011. Since 2011, he has been teaching at Faculty of Political Sciences at Istanbul Medeniyet University and served as a part-time professor at Yeditepe University between 2011-2014. Professor Bilgin has many articles published in reputed international journals indexed by scientific databases and research papers presented at international conferences as well as published academic books, plenty of articles both published and presented at the conferences on a national scale. He is the founder of Istanbul Economic Research Association and currently serves as the Chairman. He is also the founder of an international scholarly association called EBES (Eurasia Business and Economics Society) and currently serves as the Vice President. He has also been active as a consultant in several institutions, a newspaper columnist, and featured in several television programs.

Prof. Elcin Aykac Alp is a Professor at Istanbul Ticaret University (Turkey). She has Bachelor’s and Master’s degree in Econometrics from Marmara University. She received a Ph.D. in Economics from Yıldız Technical University. Her current research and teaching interests cover topics in the field of applied econometrics, financial econometrics and non-linear time series analysis. She is Director of Economics and Finance Research and Application Center since 2014 at Istanbul Ticaret University. The center carried out projects with many institutions and universities. She has published articles in journals like Applied Economics, Quality & Quantity, The Journal of Energy and Development, Expert Systems with Applications, Applied Econometrics and International Development, International Journal of Applied Econometrics and Quantitative Studies.