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Article Citation - WoS: 16Citation - Scopus: 19Soccer, Stock Returns and Fanaticism: Evidence From Turkey(Elsevier Science Bv, 2009) Berument, M. Hakan; Ceylan, Nildağ Başak; Ceylan, Nildag Basak; Ogut-Eker, Gulin; Ceylan, Nildağ Başak; Tourism Management; Tourism ManagementThis paper assesses the effect of three major soccer teams' wins on the returns of the Istanbul Stock Exchange (ISE). We argue that the effect of soccer wins on ISE returns increases with the fanaticism of the teams' supporters. (C) 2009 Western Social Science Association. Published by Elsevier Inc. All rights reserved.Article Citation - WoS: 2Predicting Financial Failure of the Turkish Banks(World Scientific Publ Co Pte Ltd, 2006) Doganay, M. Mete; Ceylan, Nildag Basak; Aktas, RamazanBanks are the most important financial institutions in Turkey because other financial institutions are not developed efficiently yet. Turkish banks experienced financial difficulties and a substantial amount of banks failed in the past. This event urged the government to initiate measures to prevent banks from getting into financial difficulties. As a result of these measures, Turkish banking system currently seems to be very attractive for the foreign investors willing to invest in this sector. One of the main concerns of the foreign investors is a possibility of a new banking crisis although it is very remote at this time. The purpose of this study is to develop early warning systems predicting the financial failure at least three years ahead of financial date. A number of multivariate statistical models such as multiple regression, discriminant analysis, logit, probit are used. We found that the most appropriate model is logit. The significant variables obtained from the models explain very well the causes of the bank failures. Our models can be used to assist interested parties to predict the probability of financial failure of Turkish banks.Article Citation - WoS: 27Citation - Scopus: 29Performance of Soccer on the Stock Market: Evidence From Turkey(Routledge Journals, Taylor & Francis Ltd, 2006) Berument, Hakan; Ceylan, Nildag Basak; Gozpinar, EsinThis paper assesses the effect of soccer success on stock market returns for three major Turkish teams (Besiktas, Fenerbahce and Galatasaray) after certain characteristics of the stock market are controlled for. The empirical evidence presented here suggests that Besikta's win against foreign rivals in the Winner's Cup increases stock market returns. The same effect is not present for the other two big teams (Fenerbahce and Galatasaray). The day of the week effect on the stock market and the relationship between risk and return are also presented. (c) 2006 Elsevier Inc. All rights reserved.
