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Dr ERDINC AKYILDIRIM's Outputs (11)

Global perspectives on open banking: Regulatory impacts and market response (2025)
Journal Article
Akyildirim, E., Corbet, S., Mukherjee, A., & Ryan, M. (2025). Global perspectives on open banking: Regulatory impacts and market response. Journal of International Financial Markets, Institutions and Money, 101, Article 102159. https://doi.org/10.1016/j.intfin.2025.102159

This study investigates the adoption of open banking across several diverse global jurisdictions, focusing specifically on regulatory and market implications. Employing a comparative analysis, we examine the dual nature of open banking as both a regu... Read More about Global perspectives on open banking: Regulatory impacts and market response.

Examining the Financial Impact of Biodiversity‐Related Reputational Disasters (2025)
Journal Article
Akyildirim, E., & Corbet, S. (2025). Examining the Financial Impact of Biodiversity‐Related Reputational Disasters. Corporate Social Responsibility and Environmental Management, https://doi.org/10.1002/csr.3197

This research investigates the reaction of financial markets to biodiversity-related corporate events, utilising an EGARCH model to assess the implications on stock returns and volatility. Results reveal that markets significantly respond to these ev... Read More about Examining the Financial Impact of Biodiversity‐Related Reputational Disasters.

Randomized signature methods in optimal portfolio selection (2025)
Journal Article
Akyildirim, E., Gambara, M., Teichmann, J., & Zhou, S. (2025). Randomized signature methods in optimal portfolio selection. Quantitative Finance, 25(2), 197-216. https://doi.org/10.1080/14697688.2025.2458613

We present convincing empirical results on the application of Randomized Signature Methods for non-linear, non-parametric drift estimation for a multi-variate financial market. Even though drift estimation is notoriously inaccurate due to small signa... Read More about Randomized signature methods in optimal portfolio selection.

Corporate reputational dynamics and their impact on global commodity markets (2025)
Journal Article
Li, I., Akyildirim, E., Conlon, T., & Corbet, S. (2025). Corporate reputational dynamics and their impact on global commodity markets. Journal of Commodity Markets, 37, Article 100459. https://doi.org/10.1016/j.jcomm.2025.100459

This research examines investor response to negative Environmental, Social, and Governance (ESG) reputational events across international commodity-related corporations. By distinguishing between G7 and non-G7 nations, we highlight a negative equity... Read More about Corporate reputational dynamics and their impact on global commodity markets.

HACKED: Understanding the stock market response to cyberattacks (2024)
Journal Article
Akyildirim, E., Conlon, T., Corbet, S., & Hou, G. (2024). HACKED: Understanding the stock market response to cyberattacks. Journal of International Financial Markets, Institutions and Money, 97, Article 102082. https://doi.org/10.1016/j.intfin.2024.102082

Increasing levels of digitisation make firms more susceptible to cyberattacks and privacy violations. In this paper, we quantify the impact of cybercrime on company stock returns using a large international sample. On the day after the cyber event, s... Read More about HACKED: Understanding the stock market response to cyberattacks.

Understanding reputational disaster during economic crises: Evaluating aviation sector response differentials (2024)
Journal Article
Akyildirim, E., Corbet, S., Nicolau, J. L., & Oxley, L. (2025). Understanding reputational disaster during economic crises: Evaluating aviation sector response differentials. Tourism Management, 106, Article 105028. https://doi.org/10.1016/j.tourman.2024.105028

This research investigates the impact of reputational events on the financial performance of airlines, with a particular focus on differential behaviour regarding the types of events—environmental, social, and governance (ESG), and the economic cycle... Read More about Understanding reputational disaster during economic crises: Evaluating aviation sector response differentials.

‘Take Back Control’: The implications of Brexit uncertainty on investor perception of ESG reputational events (2024)
Journal Article
Akyildirim, E., Conlon, T., Corbet, S., & Oxley, L. (2025). ‘Take Back Control’: The implications of Brexit uncertainty on investor perception of ESG reputational events. European Financial Management, 31(1), 72-114. https://doi.org/10.1111/eufm.12490

This study examines the impact of Brexit on investor reactions to Environmental, Social, and Governance (ESG) events in UK companies. Post-Brexit, investors show reduced sensitivity to ESG incidents, suggesting relaxed corporate accountability for ES... Read More about ‘Take Back Control’: The implications of Brexit uncertainty on investor perception of ESG reputational events.

Sentiment matters: the effect of news-media on spillovers among cryptocurrency returns (2024)
Journal Article
Akyildirim, E., Aysan, A. F., Cepni, O., & Serbest, Ö. (2024). Sentiment matters: the effect of news-media on spillovers among cryptocurrency returns. European Journal of Finance, 30(14), 1577-1613. https://doi.org/10.1080/1351847X.2024.2323454

This paper explores the relationship between news media sentiment and spillover effects in the cryptocurrency market. By employing a time-varying parameter vector autoregressive model, we initially develop measures of spillover specific to individual... Read More about Sentiment matters: the effect of news-media on spillovers among cryptocurrency returns.

Adverse selection in cryptocurrency markets (2023)
Journal Article
Tiniç, M., Sensoy, A., Akyildirim, E., & Corbet, S. (2023). Adverse selection in cryptocurrency markets. Journal of Financial Research, 46(2), 497-546. https://doi.org/10.1111/jfir.12317

In this article we investigate the influence that information asymmetry may have on future volatility, liquidity, market toxicity, and returns within cryptocurrency markets. We use the adverse-selection component of the effective spread as a proxy fo... Read More about Adverse selection in cryptocurrency markets.

Forecasting high-frequency excess stock returns via data analytics and machine learning (2021)
Journal Article
Akyildirim, E., Nguyen, D. K., Sensoy, A., & Šikić, M. (2023). Forecasting high-frequency excess stock returns via data analytics and machine learning. European Financial Management, 29(1), 22-75. https://doi.org/10.1111/eufm.12345

Borsa Istanbul introduced data analytics to present additional information about its market conditions. We examine whether this product can be utilized via various machine learning methods to predict intraday excess returns. Accordingly, these analyt... Read More about Forecasting high-frequency excess stock returns via data analytics and machine learning.

Do investor sentiments drive cryptocurrency prices? (2021)
Journal Article
Akyildirim, E., Aysan, A. F., Cepni, O., & Ceyhan Darendeli, S. P. (2021). Do investor sentiments drive cryptocurrency prices?. Economics Letters, 206, Article 109980. https://doi.org/10.1016/j.econlet.2021.109980

This paper studies the dynamic network connectedness between cryptocurrency returns and sentiments using the novel cryptocurrency-specific MarketPsych sentiment data for 13 cryptocur-rencies with the highest market capitalization. The results indicat... Read More about Do investor sentiments drive cryptocurrency prices?.