An analysis through credit default swap, asset swap and zero-volatility spreads: Coup attempt and Bist 100 volatility

The Effect of Global Risk Indicators on Developing Country Stock Exchanges

“…Therefore, investors should take into account VIX and CDS premiums when investing in these countries and especially in their securities. These outputs are consistent with the previous studies by (Buberkoku, 1997;Levina and Zervos, 1998;Arestis et al, 2001;Bologna and Cavallo, 2002;Park and Bae, 2004;Dullmann and Sosinska, 2007;Ericsson et al, 2009;Demirer et al, 2010;Brigo et al, 2012;Sahin and Sumer, 2014;Puliga et al, 2014;Kaya, 2015;Erdogdu and Baykut, 2016;Kula and Baykut, 2017;Abdellahi et al, 2017;Aksoylu and Gormus, 2018;Sarıtas and Nazlioglu, 2019;Gunay, 2019;Akcalı et.al., 2019;Vurur and Ozen, 2020) in the literature.…”

“…There are many studies in the literature review to test the effect of the VIX Index on financial markets. Some of these studies focus on the relationship between BIST Indices and VIX Index (Başarır, 2008;Kaya, 2015;Kula and Baykut, 2017;Sarıtas and Nazlioglu, 2019;Bayrakdaroglu and Celik, 2015;Gunay, 2019;Erdogdu and Baykut, 2016;Akcalı et.al., 2019), while some of them dissected the efficacy of VIX ındex on emerging markets (Korkmaz and Çevik, 2009;Adjasi et.al., 2008;Mikhaylov, 2018;Oner et.al., 2018;Jayasuriya, 2005;Aizenman and Marion, 1999;Iskenderoglu and Akdag, 2020;Gursoy, 2020;Silva, 2002;Ozdemir, 2020). A significant amount of these studies concluded that the VIX index harms stock markets and economies, especially in emerging markets.…”

How does size affect capital expenditures? Evidence from Borsa Istanbul

“…On 15 July 2016, a group in the Turkish army attempted a coup d'état against the government. According to Günay (2016Günay ( , 2019, the BIST's response to political events was not as significant as it was. His research in 2019 also showed that the coup attempt did not increase the BIST-100's volatility.…”

Do Life Cycles Affect Financial Reporting Quality? Evidence from Emerging Market

“…The authors claimed that these external developments made companies invest in corporate governance reforms. Günay (2016Günay ( , 2019 pointed out that political events (including the coup attempt) do not significantly affect BIST volatility to the extent of returning to pre-November 2011 levels.…”