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Article Citation - WoS: 9Citation - Scopus: 9Market Development and Market Efficiency: Evidence Based on Nonlinear Panel Unit Root Tests(Routledge Journals, Taylor & Francis Ltd, 2019) Aktan, Ceyda; Iren, Perihan; Omay, TolgaThis study tests the weak form market efficiency of 32 European stock markets. Utilizing monthly data from June 2006 to June 2017, six different, newly developed nonlinear panel root tests were applied in three different groups of European markets: Frontier, Emerging and Developed. The results show that there is a meaningful relationship between different levels of economic development and the weak form market efficiency. Considering the nonlinear structure of the stock market indices, use of linear models might lead to wrong conclusions regarding market efficiency. Using several nonlinear panel root tests, the results of this study shed more light on the true data generating process of the stock market indices and more appropriately model market efficiency.Article Citation - WoS: 5Citation - Scopus: 6The Effects of Energy-Intensive Meat Production on Co2 Emissions: Evidence From Extended Environmental Kuznets Framework(Springer Heidelberg, 2022) Bor, Ozgur; Omay, Tolga; Iren, Perihan; Aktan, CeydaThis study documents the positive relationship between meat production and CO2 emissions by utilizing the environmental Kuznets framework. Relationships between energy consumption, economic growth, meat production, and the levels of CO2 are tested using 6 different variables (CO2 emissions, GDP, energy consumption, forest area, total meat, and total livestock). Data for the study is related to the G7 countries and covers the period between 1961 and 2016. The analysis of the data is then conducted using a panel threshold model. Moreover, the extended EKC model does not only consider the income as the state variable but also examines the nonlinear structure inherited in other explanatory variables as a state variable. In this way, we have seen the nonlinear effects of other variables' evolution over time on carbon emission. The overall results indicate that the production of meat significantly increases CO2 emissions.
