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The study aims to determine the effects of audit reports, which are one of the foundations of assurance between firms and firm interest groups, on the market value of firms and present empirical evidence in Turkey. In this context, unqualified, adverse, and disclaimer of opinion audit reports of 77 non-financial companies in BIST 100 for the period 2010/Q1-2021/Q3 were analyzed with the Driscoll-Kraay Estimation method within the framework of panel data methodology. As a result of the analysis, it has been concluded that the unqualified opinion affected positively the market value of the firm, and the disclaimer of opinion had a negative effect. On the other hand, no significant relationship was found between Adverse opinion and firm value. It is expected that the results, which are obtained from the study, will contribute to the limited literature on audit opinion and firm value relationship, as well as create a perspective for investors in the investment process. [ABSTRACT FROM AUTHOR]

In this study, it is aimed to determine the relationships and interactions between the Dollar Index and the Major World Indices (BIST 100, DAX, Dow Jones, S&P 500, Nikkei 225, FTSE 100, Euro Stoxx 50) and whether the Dollar Index can be an international financial indicator. Relationships between seven major world indices and dollar indices examined in the study were examined by granger causality test; While there is no causality relationship between the BIST 100, Dow Jones, and S&P 500 indices towards the Dollar Index, a one-way causality relation has been determined from the Dollar Index to these indices. A bidirectional and reciprocal causality relationship was determined between the DAX, Euro Stoxx 50, FTSE 100 and Nikkei 225 indices with the Dollar Index. It is considered that the findings obtained are mostly compatible with the literature. The Dollar Index, which was created in 1973 and has been used for about 50 years and covers a proportional composition of other important currencies, mainly the US Dollar, is considered to be an important financial and economic indicator today due to the close causality relations and strong correlations between them and the Major World Indices. [ABSTRACT FROM AUTHOR]

This study focuses on two aims. First aim of the study is to determine the relationship between change in population, poor population and capital markets development with change in GDP. The second aim is to forecast the position of countries in 2023 by using determined relations. To determine the relationships, data of 135 countries between 1980 and 2010 were analyzed. Analysis results revealed that population changes and capital market development have a statistically significant effect on GDP. In addition, there is a statistically significant relationship between population growth and poverty. In addition, it is stated that development of E7 countries will become higher than the development of G7 countries. [ABSTRACT FROM AUTHOR]

The aim of this study is to assess the impact of oil price changes on stock prices. We believe that the possible relationship between oil prices and capital markets might be used as a guide in terms of valuing capital market instruments. Hence, the study analyzes the impact of change in crude oil prices and stock market returns on petrochemical industry index returns using a two-factor model. Accordingly, industry (ISE Oil, Chemical and Plastic Index) risk premium, crude oil price changes and stock market index (ISE 100) data were used in the regression analysis for the years between 2003 and 2012. The study attempts to explain industry risk premium via aforementioned explanatory variables both in a six-month sub-period daily setting and in a consecutive monthly setting. The regression results yield significant results when monthly analysis performed while results yield significant results for three distinct sub-periods when six-months sub-periods analysis performed. [ABSTRACT FROM AUTHOR]

Aim: The aim of the study is to examine the role of local government banks in local government services in the world and is to provide suggestions for a specific local government bank, İLBANK A.Ş., which is in the process of structuring to improve its activities in these areas. Method: 18 countries with different local management systems were selected in the world and analyzed under the headings of local government banking, the structure of banks, beneficiaries of the bank services, the duties of banks, sources of income, services given loans, supervision of banks. It was presented in tabular form to facilitate the comparison. Findings: Local authorities have a gradually increasing need for resources to perform their services. To meet this need, they lean on borrowing from local government banks. When the local government banks all over the world are examined in terms of their foundation years, it is seen that local government banking is a new concept in Turkey. The autonomy of local government banks is important so that the bank can make its own decisions and prevent the central government from directing the bank's projects. When the local government banks in various countries are examined, it is seen that the banking services of these banks come to the fore. On the other hand, ILBANK INC. stands out as a development and investment bank, providing both technical support and consultancy services. Conclusion: The fact that local governments are administratively and financially dependent on central government restricts their autonomy and obliges them to focus on projects directed by central government. This is also valid for Ilbank Inc. with is dependent structure, which may lead to several problems. When local government systems in the world are examined, it is seen that a large part of the local government revenues are made up of taxes. Having the powers of determining taxation and tax rate ensure the fiscal autonomy of the local governments. However, these taxes alone are not sufficient to provide the necesseary financing of the local governments. As local governments struggle with funding problems, the effective and efficient use of the available resources becomes a crucial issue. When the instability of Turkish money and capital markets is considered, the need arises for ILBANK Inc., which operates as a local government bank, to ensure the continuity of local government services. [ABSTRACT FROM AUTHOR]