Effects of soccer on stock markets: The return–volatility relationship

This paper assesses the effects of domestic soccer teams’ performances against foreign rivals on stock market returns as well as on the return–volatility relationship. Data from Chile, Spain, Turkey and the United Kingdom support propositions that soccer teams results in international cups affect stock market returns and the return–volatility relationship. Evidence from Spain and the UK, soccer powerhouses, suggests that losses are associated with lower returns and higher risk aversion but evidence from Chile and Turkey, where soccer is the most important sport but teams are not as successful, reveals that wins are associated with higher returns and lower risk aversion.     

The International Migration System Between Turkey and Russia: Project‐Tied Migrant Workers in Moscow

The last 50 years of emigration history in Turkey indicate that the migratory flows of Turkish citizens have consecutively become a part of various migratory systems. In this essay, our main aims are twofold. First, we attempt to document the dynamics and mechanism of project‐tied migration from Turkey to the Russian Federation, focusing in particular on the case of project‐tied workers migrating from Turkey to Moscow. Second, this effort intends to elaborate on the research on migratory systems between Turkey and the former communist countries of Eastern Europe and Central and Northern Asian countries, mainly referring to macro‐, micro‐ and meso‐level factors affecting the relevant migration systems. In this paper, in which we tackle the various migration systems with which Turkey is involved, we conclude by arguing that parallel to the new migration patterns that have been experienced throughout the post‐Soviet geographies, the internalization process of Turkish constructors within the changing dynamics of Turkish foreign policy has widened the direction of the migration flows from Turkey by introducing new migrant worker profiles to different regions. In this sense, short‐term labour migrants, shuttle traders and in particular project‐tied migrant workers show not only the important role that migrants may play in the shift towards a market‐based economy in the Russian Federation, but also how they have become crucial actors of the migration system between Turkey and Russia.     

Variance Estimation for Fractional Brownian Motions with Fixed Hurst Parameters

Some real-world phenomena in geo-science, micro-economy, and turbulence, to name a few, can be effectively modeled by a fractional Brownian motion indexed by a Hurst parameter, a regularity level, and a scaling parameter σ², an energy level. This article discusses estimation of a scaling parameter σ² when a Hurst parameter is known. To estimate σ², we propose three approaches based on maximum likelihood estimation, moment-matching, and concentration inequalities, respectively, and discuss the theoretical characteristics of the estimators and optimal-filtering guidelines. We also justify the improvement of the estimation of σ² when a Hurst parameter is known. Using the three approaches and a parametric bootstrap methodology in a simulation study, we compare the confidence intervals of σ² in terms of their lengths, coverage rates, and computational complexity and discuss empirical attributes of the tested approaches. We found that the approach based on maximum likelihood estimation was optimal in terms of efficiency and accuracy, but computationally expensive. The moment-matching approach was found to be not only comparably efficient and accurate but also computationally fast and robust to deviations from the fractional Brownian motion model.     

A novel feature selection scheme for high-dimensional data sets: four-Staged Feature Selection

Classification of high-dimensional data set is a big challenge for statistical learning and data mining algorithms. To effectively apply classification methods to high-dimensional data sets, feature selection is an indispensable pre-processing step of learning process. In this study, we consider the problem of constructing an effective feature selection and classification scheme for data set which has a small number of sample size with a large number of features. A novel feature selection approach, named four-Staged Feature Selection, has been proposed to overcome high-dimensional data classification problem by selecting informative features. The proposed method first selects candidate features with number of filtering methods which are based on different metrics, and then it applies semi-wrapper, union and voting stages, respectively, to obtain final feature subsets. Several statistical learning and data mining methods have been carried out to verify the efficiency of the selected features. In order to test the adequacy of the proposed method, 10 different microarray data sets are employed due to their high number of features and small sample size.     

The Relationship Between Income Inequality and Economic Growth: Are Transmission Channels Effective?

Social Indicators Research - This study aims to determine whether the effect of income inequality on economic growth is realised through transmission channels theoretically expressed. This...     

MultiOrd: An R Package for Generating Correlated Ordinal Data

In this article, operational details of an R package MultiOrd that is designed for the generation of correlated ordinal data are described, and examples of some important functions are given. The package provides a valuable and needed tool that has been lacking for generating multivariate ordinal data.     

Studying Modern Nation‐State in a World‐Historical Perspective: The Instance of Iraq

By examining conceptual and historical approaches on modern state and state formation in the context of Iraq, this paper addresses four interrelated methodological aspects of studying state formation (1) to contest the simplicity of Eurocentric knowledge production in studying state formation especially in the periphery, (2) to bring capital and nation‐state into a relational analysis and to call for research on how they constitute each other historically and geographically, (3) to integrate methodologically local and world‐historical context in understanding the historical complexity of state formation, (4) to problematize the concepts of “capital relation” in order to recognize nature and transformation of nature in the study of state formation.     

Attachment Styles and Self‐Image in Turkish Adolescents

The purpose of this article is to examine the attachment styles and the relation of these styles to the self‐image in Turkish adolescents. The study included 378 adolescents (196 females and 182 males) from high schools with different socioeconomic status (SES) who were administered Relationship Scale Questionnaires and Offer Self‐Image Questionnaires. The findings indicate that adolescents from a low SES had significantly low scores on self‐image scales compared with those from high and middle SES. It was found that secure attachment patterns affect social relationships and superior adjustment aspects of self‐image positively. The results of this study show that attachment patterns play an important role in the development of the self‐image, which is a crucial psychological structure gained in adolescence.     

Factors Motivating Individuals to Take Precautionary Action for an Expected Earthquake in Istanbul

Istanbul is expected to experience an earthquake in the near future, but individuals show limited interest in preparing for it. This study aims to identify the factors associated with taking action to prepare for an earthquake and mitigate its effects at the individual level. A field survey was carried out in 2007 in two districts of Istanbul with different levels of earthquake risk. Within these districts, three socioeconomic levels were considered. A total of 1,123 people were interviewed face to face. Analysis indicated that the educational level of the respondents was the leading factor associated with taking at least three measures, followed by living in a higher earthquake risk area, having participated in rescue and solidarity activities in previous earthquakes, a higher level of knowledge about earthquakes, home ownership, a higher score for action‐stimulating attitudes, being younger, and a higher general safety score, in that order. The findings pointed to the role of knowledge about earthquakes and possible mitigation/preparedness measures, and thus the importance of developing effective awareness programs. Such programs should also consider the characteristics of different groups in the population. Motivated individuals, such as those who have participated in rescue and solidarity activities in previous earthquakes, could be involved in reaching other people.