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Yayın Global risk aversion and emerging market return comovements(Elsevier Science SA, 2018-12) Demirer, Rıza; Omay, Tolga; Yüksel, Aslı; Yüksel, Sadettin AydınUtilizing the recently developed measure of global risk aversion by Xu (2017), we show that global risk aversion is a significant determinant of international equity correlations, consistently across all emerging markets examined. The positive effect of risk aversion on emerging market comovements is particularly strong for South Africa and Turkey and is consistent with contagion effects. The results underscore the importance of non-cash flow shocks in models of contagion and portfolio risk.Yayın Solving the multiple level warehouse layout problem using ant colony optimization(Springer Verlag, 2020-03-01) Arnaout, Jean Paul M.; ElKhoury, Caline; Karayaz, GamzeThis paper addresses the multiple level warehouse layout problem, which involves assigning items to cells and levels with the objective of minimizing transportation costs. A monthly demand and an inventory requirement are associated with every item type along with vertical and horizontal unit transportation costs. The warehouse has one port to transport items vertically from ground floor to the other levels, where each item must be assigned to exactly one cell on the assigned level. An ant colony optimization (ACO) algorithm is adapted to this NP-complete problem and its performance is evaluated by comparing its solutions to the ones obtained using genetic algorithms (GA) as well as the optimal solutions for small problems. The computational results reflected the superiority of ACO in large-size problem instances, with a marginally better performance than GA in smaller ones, while solving the tested instances within a reasonable computational time. Furthermore, ACO was able to attain most of the known optimal solutions for small-size problem instances.Yayın On the hedging benefits of REITs: The role of risk aversion and market states(Oviedo University Press, 2021-06) Demirer, Rıza; Yüksel, Aslı; Yüksel, Sadettin AydınWe propose a dynamic, forward-looking hedging strategy to manage stock market risks via positions in REITs, conditional on the level of risk aversion. Our findings show that risk aversion can predict transitions to the high volatility regime in REIT markets when these markets are relatively calm. Accordingly, a hedge on/hedge off strategy based on the level of risk aversion with positions in REITs offer significant risk reduction for passive investors with the greatest benefits observed for the U. S. followed by the U.K. Our findings highlight the role of time-varying risk aversion as a predictor of REIT market volatility and the value of REIT investments as a hedge against stock market fluctuations.Yayın Bounds for the faber coefficients of certain classes of functions analytic in an ellipse(Rocky Mt Math Consortium, 2005) Haliloğlu, Engin; Johnston, Elgin H.Let Omega be a bounded, simply connected domain in C with 0 is an element of Omega and aOmega analytic. Let S(Omega) denote the class of functions F(z) which are analytic and univalent in Omega with F(0) = 0 and F'(0) = 1. Let {Phi(n)(z)} infinity n=0 be the Faber polynomials associated with Omega. If F(z) is an element of S(Omega), then F(z) can be expanded in a series of the form where r > 1. In this paper we obtain sharp bounds for the Faber coefficients A(0), A(1) and A(2) of functions F(z) in S(E-r) and in certain related classes.Yayın Assessing the (in-)consistency of same-sex and opposite-sex peer nominations among Turkish elementary-school children(PsychoeduationalL Corp, 1997-09) Chimienti, GiovanniNomination procedures for assessing peer behaviors are in wide use, and mixed-sex peer nominations are often utilized under the assumption that combined same-and opposite-sex nominations yield a representative picture of children's behaviors and relationships to other variables. Analyses of nominations made by 457 Turkish third and fifth graders for 14 peer behaviors and for liked-/disliked-a-lot illustrate the productiveness of separately assessing same-sex and opposite-sex nominations, showing that: (a) a bias toward more nominations for same-sex peers is not consistent over all behaviors; and (b) although same-sex and combined same-/opposite-sex nominations are strongly related, the agreement between same-and opposite-sex nominations is substantially Lower. The outcome is that (a) sociometric status classification depends on the nominating population and (b) the relationship between-peer-assessed behaviors and peer acceptance/peer sociometric status can differ; depending upon whether the reference group is same-or opposite-sex peers. Findings bring into question the routine use of mixed-sex nominations.
