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    Öğe
    A model study for calculation of the temperatures of major stock markets in the world with the quantum simulation and determination of the crisis periods
    (Elsevier, 2022) Kuzu, Erkan; Susay, Aynur; Tanrioven, Cihan
    The heterogeneous economic time model has been adapted for the purpose of determining the crisis periods in the study, which aims to calculate the temperatures of major stock markets in the world with the quantum simulation. The proposed model was applied to 15 stock market indexes selected from Asia, Europe and America continents The model that can be interpreted as the average energy of the economic particle and thus the temperature of the series was tested. Crises are recognized with the condensation of economic processes (the temperature is rising), while during the non-crisis period economic processes slowdown can be observed (the temperature is falling), which can be interpreted as the heterogeneous flow of economic time. The temperature that occurred on the stock markets during the periods of global events and Covid-19 was shown graphically. (C) 2021 Elsevier B.V. All rights reserved.
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    Öğe
    Herd Behavior Tendencies of Investors and the Effect of Monetary Policy on Herd Behavior: A Case of BIST
    (Maliye Bakanligi, 2023) Susay, Aynur; Tanrioven, Cihan
    This study aims to investigate the effect of monetary policy decisions made by policymakers on investor behavior. First, herd behavior in the equity market was investigated in crises, Covid-19, and socio-economic uncertainty. The cross-sectional variance of betas was used as a measure of herd behavior. The findings indicate that herd behavior increases sharply during the global crisis, pandemic, uncertainty, and bull markets. Secondly, the effect of monetary policy decisions on herd behavior in the Borsa Istanbul equity market was investigated. The applied Autoregressive Distributed Lag (ARDL) bound test showed that unconventional monetary policy instruments affect herd behavior.