Research
JOURNAL PUBLICATIONS:
[17] Regret in Global Equity Markets, International Review of Financial Analysis, 2025, 103, 104198 (with Yigit Atilgan, K. Ozgur Demirtas and Aynur Dilan Tosun)
[16] Aggregate Earnings and Global Equity Returns, Journal of International Financial Markets, Institutions & Money, 2025, 100, 102125 (with Yigit Atilgan, K. Ozgur Demirtas, Aynur Dilan Tosun and Duygu Zirek)
[15] Do Polluters Outperform Non-Polluters?, Applied Economics Letters, forthcoming (with Yigit Atilgan, K. Ozgur Demirtas)
[14] Performance Implications of Hedging with Industry ETFs, Global Finance Journal, 2024, 61, 100990 (with Yigit Atilgan, K. Ozgur Demirtas and Mustafa Oztekin)
[13] Do the Rich Gamble in the Stock Market? Low Risk Anomalies and Wealthy Households, Journal of Financial Economics, 2023, 150(2), 103715 (with Turan G. Bali, Thomas Jansson and Yigitcan Karabulut)
[12] Mood Seasonality Around the Globe, Pacific-Basin Finance Journal, 2023, 82, 102171 (with Yigit Atilgan, K. Ozgur Demirtas and Imra Kirli)
[11] Average Skewness in Global Equity Markets, International Review of Finance, 2023, 23(2), 245- 271 (with Yigit Atilgan, K. Ozgur Demirtas and Imra Kirli)
[10] Price Discovery in Emerging Market ETFs, Applied Economics, 2022, 54(47), 5476-5496 (with Yigit Atilgan, K. Ozgur Demirtas and Mustafa Oztekin)
[9] Momentum and Downside Risk in Emerging Markets, Journal of Portfolio Management, 2022, 48(8), 44-58 (with Yigit Atilgan, K. Ozgur Demirtas and Imra Kirli)
[8] Tax Expense Surprise and Emerging Markets Equity Returns, Borsa Istanbul Review, 2022, 22(4), 711-724
[7] Predicting Equity Returns in Emerging Markets, Emerging Markets Finance and Trade, 2021, 57(13), 3721-3738 (with Yigit Atilgan and K. Ozgur Demirtas)
[6] Left-Tail Momentum: Underreaction to Bad News, Costly Arbitrage and Equity Returns, Journal of Financial Economics, 2020, 135(3), 725-753 (with Yigit Atilgan, Turan G. Bali and K. Ozgur Demirtas)
[5] Decomposing Value Globally, Applied Economics, 2020, 52(42), 4659–4676 (with Yigit Atilgan, K. Ozgur Demirtas and Imra Kirli)
[4] Downside Beta and The Cross-Section of Equity Returns: A Decade Later, European Financial Management, 2020, 26(2), 316-347 (with Yigit Atilgan and K. Ozgur Demirtas)
[3] Global Downside Risk and Equity Returns, Journal of International Money and Finance, 2019, 98 (with Yigit Atilgan, Turan G. Bali and K. Ozgur Demirtas)
[2] Downside Beta and Equity Returns around the World, Journal of Portfolio Management, 2018, 44(7), 39-54 (with Yigit Atilgan, Turan G. Bali, K. Ozgur Demirtas)
[1] Liquidity and Equity Returns in Borsa Istanbul, Applied Economics, 2016, 48(52), 5075-5092 (with Yigit Atilgan and K. Ozgur Demirtas)
BOOK CHAPTERS:
[2] Hedge Fund Strategies in the Post-Crisis Era, In Douglas Cumming and Geoffrey Wood (Ed.), The Oxford Handbook of Hedge Funds, 2021, Oxford University Press (with Yigit Atilgan and Turan G. Bali)
[1] Predicting Equity Returns in Developed Markets, In Škrinjarić, T., Čižmešija, M., & Christiansen, B. (Eds.), Recent Applications of Financial Risk Modelling and Portfolio Management, 2021, 68-90, IGI Global.