Person: SOYTAŞ, Mehmet Ali
Loading...
Email Address
Birth Date
Name
Job Title
First Name
Mehmet Ali
Last Name
SOYTAŞ
13 results
Publication Search Results
Now showing 1 - 10 of 13
ArticlePublication Open Access The asymmetric impact of oil prices, interest rates and oil price uncertainty on unemployment in the US(Elsevier, 2020-02-01) Kocaaslan, B.; Soytas, U.; Soytaş, Mehmet Ali; Economics; SOYTAŞ, Mehmet AliIn this study, we investigate the presence of asymmetric interactions between oil prices, oil price uncertainty, interest rates, and unemployment in a cointegration framework. Utilizing the nonlinear auto-regressive distributed lag (NARDL) approach, we show the asymmetric responses of unemployment to changes in oil prices, oil price uncertainty and interest rates in the long-run. More specifically, the results of our analyses suggest that an increase in oil price results in increased unemployment while there is no significant impact of reduced oil prices. On the one hand, reduced oil price uncertainty leads to a decrease in unemployment whereas an increase in oil price uncertainty does not have an impact. We also observe increased unemployment in response to a decrease in interest rates as the impact of increased interest rates is not significant. Last but not least, we find that option-implied oil price volatility, as a measure of oil price uncertainty, outperforms the conditional volatility of crude oil prices in predicting unemployment. This study provides valuable implications for policymakers to design sound economic policies.ArticlePublication Open Access Intergenerational mobility and the effects of parental education, time investment, and income on children’s educational attainment(Federal Reserve Bank of St.Louis, 2018-07-15) Gayle, G. - L.; Golan, L.; Soytaş, Mehmet Ali; Economics; SOYTAŞ, Mehmet AliThis article analyzes the mechanisms through which parents’ and children’s education are linked. It estimates the causal effect of parental education, parental time with children, and parental income during early childhood on the educational outcomes of children. Estimating the causal effects of time with children, income, and parental education is challenging because parental time with children is usually unavailable in many datasets and because of the problem of endogeneity of parental income, time with children, and education. The authors, therefore, use an instrumental variables approach to estimate the causal effects. They find that once they account for the parental time input with children, parental income during the first five years is no longer statistically significant. The parental time investments of both parents in early childhood are each statistically and quantitatively significant determinants of the educational outcomes of children.ArticlePublication Open Access Does being internationalmake companiesmore sustainable? Evidence based on corporate sustainability indices(Elsevier, 2018-06) Soytaş, Mehmet Ali; Atik, Asya; Economics; SOYTAŞ, Mehmet Ali; Atik, AsyaThe existing literature on the relationship between corporate sustainability performance and being a domestic or international company doubt on which type of operating has more potential to be corporate sustainable. It might be expected that two types of firms can have different advantages. We take this as an empirical question and bring it to data to find an answer. We created a methodology to compare the corporate sustainability level of different companies. In this methodology, we developed different internationality indices and evaluate the effects of those on corporate sustainability. We used firm level financial variables, time and firm effects for controlling some aspects of firm heterogeneity. We estimate the indices of the internationality using the performance ratings from MSCI KLD 400 Social Index and financial information from Wharton Research Data Services' COMPUSTAT dataset. Our results present empirical evidence to support the hypothesis that being an international firm is increasing the sustainability of the company on average. Furthermore, to better understand the mechanism of this result, we examined the effect of being international separately for the factors (these are named as strengths and concerns in KLD) that increase and decrease the sustainability score of the companies respectively. We found surprisingly that being an international firm increases both strengths and concerns more compared to a domestic firm. This suggests that international companies perform higher standards on the strengths but also face hard time to reduce the concerns due to possibly multiple regulations that they face, or coordination issues in different counties etc.
ArticlePublication Metadata only Dış borç iflas modellerinin tahmini için yarı-indirgenmiş bir karakterizasyon(Okan Üniversitesi, 2016) Soytaş, Mehmet Ali; Volkan, E.; Economics; SOYTAŞ, Mehmet AliBu proje uygulamalı mikroekonometri literatüründe sıkça kullanılan Hotz-Miller tahmin tekniğinin (Hotz ve Miller 1993) dış borç iflas modellerine adapte edilebilirliği için gerekli teorik çıkarımları ortaya koymaktadır. Dış borç iflas modelleri sabit nokta (fixed-point) teoremine dayandırılarak "kalibrasyon ve değer fonksiyon iterasyonu" tekniği ile numerik olarak çözülmektedir. Bu teori ve çözüm yöntemi yarattığı hesaba dayalı teknik kısıtlardan dolayı modellerin kantitatif alanda performansını sınırlı kılmakta, kantitatif tahmin özelliğinden yoksun bırakmaktadır. Hotz-Miller tekniği, kesintili seçimli (discrete choice) rekürsif rekabetçi kısmi (belli koşullar altında genel) denge modellerinin yapısal parametre değerlerini-kesintili seçim olarak adlandırdığımız endojen kararın gerçek olasılığını ve gerekli diğer gerçek verileri kullanarak-tahmin ederken, modeli çözümüne büyük kısıtlar getiren sabit nokta teoreminden kurtarmaktadır. Bu makalede bu tekniğe ters mühendislik uygulanarak, ülkelerin iş çevrim modellerinden tahmin edilen yapısal parametre değerlerine karşılık gelen öncül iflas riski ve iflas olasılığı fonksiyonlarının tahmin edilebileceği teorik olarak gösterilmiştir. Bu teorik çerçeve kullanılarak, iflas olasılığı fonksiyonunda model ülkenin gelir ve dış borç seviyesi kullanılarak, dış borç iflas literatüründe elde edilen kalitatif sonuçlar birebir üretilebilir. Bu teknikle modellerin etki alanları arttırılarak dış borç genel denge modelleri geliştirilmeye açık hale gelmektedir.ArticlePublication Open Access Early childhood human capital investment in children(Marmara Üniversitesi, 2016-06) Soytaş, Mehmet Ali; Economics; SOYTAŞ, Mehmet AliEarly childhood investment is extremely important in forming the human capital. In order to understand the investment during this period, a human capital production function which takes parental skills, and investments as inputs and produce outcomes for children is needed. A well-known problem with the estimation of such production functions is the simultaneity of the inputs (time spent with children and income). Therefore the education production function suffers from a similar problem. However, because the output of the intergenerational education production (i.e., completed education level) is determined across generations while the inputs, such as parental time investment, are determined over the life-cycle of each generation, one can treat these inputs as predetermined and use instruments from within the system to estimate the production function. This procedure in a systems of equations framework can be estimated by a three stage least squares (3SLS) estimator. Using data on two generations from the Panel Study of Income Dynamics (PSID), this paper estimates the effect of parental characteristics and human capital investments on their children’s education outcomes in a 3SLS framework.ArticlePublication Metadata only Sürdürülebi̇li̇rli̇k yatırımlarının fi̇nansal performansa etki̇si̇: Türki̇ye örneği̇(Bandırma Onyedi Eylül Üniversitesi, 2017) Soytaş, Mehmet Ali; Denizel, M.; Uşar, Damla Durak; Ersoy, İ.; Economics; SOYTAŞ, Mehmet Ali; Uşar, Damla DurakUluslararası literatürde sürdürülebilirlik ve finansal performans ilişkisini inceleyen çalışmalar birbirleri ile çelişen bulgular ortaya koymuşlardır. Her ne kadar sürdürülebilirlik etkisini pozitif bulan çalışma sayısı daha fazla olsa da ciddi miktarda çalışma ilişkiyi negatif bulmuş, yine birçok çalışma da herhangi anlamlı bir ilişki bulamamıştır. Bu durum ilişkinin yönü hakkında ciddi kuşku oluşturmaktadır ve dahası böyle bir ilişkinin var olup olmadığı hala önemli bir araştırma sorusu olarak gündemini korumaktadır. Özellikle, ilişkiyi pozitif bulan çalışmaların kullandıkları veri setleri ve değişkenlerin birbirinden çok farklı olduğu dikkate alındığında, bu çalışmaların oranı ilişkinin pozitif olduğunu bilimsel olarak kanıtlamaya yetecek kadar çok değildir. Türk literatüründe ise bu alanda yapılan çalışmalar kısıtlı örneklem sebebi ile istatistiksel açıdan sağlıklı sonuçlara ulaşamamıştır. Bu çalışmada Türk firmaları için sürdürülebilirliğin finansal performans üzerindeki etkisi ortaya konulmuştur. Analizler CSRHUB ve Wharton Research Data Services (WRDS) Compustat Global veri setleri birleştirilerek elde edilen ve 214 firmadan oluşan büyük bir örneklem üzerinden yapılmıştır. Sonuçlar sürdürülebilirliğin finansal performans üzerinde pozitif etkisi olduğunu göstermiştir. Ayrıca yaptığımız analizler sonucu yabancı ortaklı firmaların yerli sermayeli firmalara göre gerek finansal gerek sürdürülebilirlik açısından daha avantajlı konumda olduğu saptanmıştır.ArticlePublication Open Access Estimation of dynastic lifecycle discrete choice models(Wiley, 2018-11) Gayle, G. - L.; Golan, L.; Soytaş, Mehmet Ali; Economics; SOYTAŞ, Mehmet AliThis paper explores the estimation of a class of life‐cycle discrete choice dynastic models. It provides a new representation of the value function for these class of models. It compare a multistage conditional choice probability (CCP) estimator based on the new value function representation with a modified version of the full solution maximum likelihood estimator (MLE) in a Monte Carlo study. The modified CCP estimator performs comparably to the MLE in a finite sample but greatly reduces the computational cost. Using the proposed estimator, we estimate a dynastic model and use the estimated model to conduct counterfactual simulations to investigate the role Nature versus Nurture in intergenerational mobility. We find that Nature accounts for 20 percent of the observed intergenerational immobility at the bottom of income distribution. That means that 80 percent of mobility at the bottom of the income distribution is explained by economic decision and economic/institutional constraints.ArticlePublication Open Access Role of strategic interactions in corporate sustainability decisions: an empirical investigation(Turkish Economic Association, 2017-01-01) Soytaş, Mehmet Ali; Uşar, Damla Durak; Economics; SOYTAŞ, Mehmet Ali; Uşar, Damla DurakThere is a large amount of empirical literature on the relationship between corporate sustainability and corporate financial performance. However, the literature considers company-specific aspects affecting the link but omits the influence of the competition. A firm’s gains from its sustainability efforts, however, depend on whether its industry competitors also perform sustainable actions—whether similar in type or different. Thus, we consider the sustainability decision making of companies to be of a strategic nature and show that strategic motives, typically ignored in the literature, can be an important factor in the process. We estimate an Instrumental Variable (IV) Probit model, using inclusion in the MSCI KLD 400 Social Index and draw on financial information from the Wharton Research Data Services COMPUSTAT dataset in order to identify the effect of competition. We find that the effect of competition on the likelihood of entry into the sustainability market is negative, but this is only true if the endogeneity is correctly taken into account. Probit estimates present an upward bias, which means that results from raw models can be misleading in designing policies on sustainability. Overall evidence suggests a central role for strategic motives in management’s sustainability decisions.Conference ObjectPublication Open Access Optimistic entrepreneurs and new product introductions in high technology industries(Academy of Management, 2018) Işıklar, Rukiye Işıl Yavuz; Dutta, D. K.; Soytaş, Mehmet Ali; Economics; YAVUZ IŞIKLAR, Rukiye Işil; SOYTAŞ, Mehmet AliThis study examines how the relationship between past performance and new product introductions is influenced by entrepreneurial optimism. Based on the behavioral theory of the firm, we test how past performance suggest low performance relative to aspirations helps new ventures initiate strategic change, such as new product introductions. In contrast, high performance relative to aspirations tends to reinforce status quo. Moreover, we argue that when past performance falls below aspirations, new ventures founded by optimistic entrepreneurs are more likely to introduce new products than those with less optimistic entrepreneurs. We test our hypotheses using data from the Kauffman Firm Survey on 333 newly founded high technology new ventures in the U.S. Our results strongly support our interaction hypothesis. After controlling for the impact of several entrepreneurial and firm-level characteristics, we show that the rate of new product introductions is highest in ventures founded by optimistic entrepreneurs where the ventures have shown low prior performance relative to their aspirations.ArticlePublication Open Access Sustainable development from millennium 2015 to sustainable development goals 2030(Wiley, 2019-07) Halisçelik, E.; Soytaş, Mehmet Ali; Economics; SOYTAŞ, Mehmet AliIn modern economies, the advancement of well‐being of the citizens should be in an inclusive and sustainable way. In this respect, the sustainable welfare targets should exclusively include three main pillars: economic growth, social inclusion, and environmental protection. These pillars consist of qualitative and nonmonetary, as well as monetary and quantitative indicators to monitor. Although sustainable development today is well‐appreciated in most governments' agenda, yet it is generally not a trivial task to measure its progress especially due to multidimensional nature of some targets. In this article, sustainable development is measured by using a wide range of indicators within multidimensional perspective of Millennium Development Goals (MDGs) 2015. Indicators cover wide spectrum of areas such as poverty reduction, health, education, gender equality, and environment. An index creation method is developed for measuring the level and the performance of countries' progress through achieving MDGs. The index score levels and the rankings of countries are compared with similar indexes developed by United Nations. Finally, countries are classified according to their achievements relative to other countries (which is measured by the index) versus their self‐achievement performances (in terms of improvement of the index over years) in a big matrix. Results demonstrate the importance of measuring country performances in both dimensions. Understanding the progress in MDGs can help settle on binding targets for achieving the country specific goals in economic and noneconomic areas and on the mechanisms to implement the Sustainable Development Goals (SDGs) of the 2030, which set amid on the success of MDGs.