Özyeğin University, Çekmeköy Campus Nişantepe District, Orman Street, 34794 Çekmeköy - İSTANBUL

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E-mail: info@ozyegin.edu.tr

Finance

Finance

Finance, in its simplest form, is the study of investors’ and firms’ financial decision making process. The science of Finance encompasses a great variety of subjects, including but not limited to corporate finance, investments, asset pricing, asset allocation, portfolio optimization, risk management, pricing of derivatives, and institutional funds management. The past 20 years has seen an explosive growth in financial markets and the variety of financial instruments traded in them. The enormous increases in the trading volumes of commodities, stocks, interest rates, foreign exchange, and their derivatives are all fueled by the increase in the computation power of computers, rapid exchange of information via the Internet, and the application of sophisticated mathematical and statistical methods in the creation and pricing of complex financial instruments. All these developments in the last two decades increased tremendously the importance of finance as a separate discipline within the broader area of business.

The Ph.D. program in Finance at Özyeğin University will provide students with a profound knowledge in finance, statistics, and econometrics; introduce numerical techniques for valuation, including pricing and hedging of financial investment instruments such as futures, options, and other derivatives; illustrate the important role of optimization in portfolio management, asset allocation, and risk management; present various computational applications/methods in solving financial problems.

Research Highlights

Assist. Prof. Emrah Şener has been invited to the Max Planck Institute for Human Development in Berlin, Germany to present his paper The Geography of Risk Capital. Read more

Assist. Prof. Emrah Şener's paper The Geography of Risk Capital has been accepted for publication in the Review of Financial Studies.

Ata Can Bertay's paper has been accepted for presentation at the INFER Workshop Banking in Europe: Current Challenges that will be held in September in Prague, the CInSt Banking Workshop Emerging Markets to be organized in October in Moscow, and the 7th International Research Conference 2014 to be organized by the Central Bank of Sri Lanka in November, 2014.

Assist. Prof. Erkan Yönder’s paper has been accepted for presentation at the first Research in Behavioural Finance Conference that will be held in Rotterdam on September 18-19, 2014.

Assist. Prof. Erkan Yönder’s paper, Environmental Performance and the Cost of Capital: Evidence from REIT Bonds and Commercial Mortgages, has been accepted for presentation at the American Real Estate and Urban Economics Association (AREUEA) meeting to be held in Boston, Massachusetts, January 3-5, 2015, in conjunction with the Allied Social Science Association (ASSA).

Assist. Prof. Emrah Şener has been honored with the first prize of the 2014 Research Awards by the Central Bank of the Republic of Turkey for his research The Geography of Risk Capital.

Assist. Prof. Mehmet Özsoy's paper Ambiguity, News and Asymmetric Correlations has been chosen as one of the 'Best Paper' award recipients of the upcoming Financial Management Association conference that will take place at Maastricht University's School of Business and Economics (SBE) on June 11-13, 2014.

The Macroeconomic Risk and Hedge Fund Returns paper of Assist. Prof. Mustafa Çağlayan has been accepted for presentation at the 2014 Annual Meeting of the Financial Management Association International to be held at the Gaylord Opryland Resort and Conference Center in Nashville, Tennessee on October 15 - 18, 2014.

Two forthcoming papers of Assist. Prof. Mustafa Çağlayan have been accepted to the top finance journals: Macroeconomic Risk and Hedge Fund Returns in Journal of Financial Economics and Emerging Market Exposures and the Predictability of Hedge Fund Returns in Financial Management.

Research Focus

Some general questions that research in Finance tries to answer are:

  • How do agents in the financial industry (corporations, investors, financial intermediaries, central banks, and regulatory bodies) interact with each other?
  • How do firms maximize shareholders’ value?
  • How are financial assets priced in the market?
  • What constitutes an optimal portfolio and how are optimal portfolios constructed and managed?
  • How do shocks to the financial system propagate through the system?
  • What is systemic risk and how can it be managed?
  • What are the approaches to and challenges in measuring and managing financial risk?