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Yayın Revisiting discounted cash flows model as a capital budgeting decision tool(PressAcademia, 2020-12-31) Teker, SuatPurpose- In thisstudy, the classical discounted cash flows (DCDF) model is revisited and the input factors of the model are analysed in details. Methodology- A model analysis approach is used in this research. The fundamental assumptions and the input factors (cash flows, time period, risk, discount rate, etc.) of DCF model are questioned. Findings- NPV and IRR are two methods using discounted cash flows and oftenly applied for capital budgeting decisions. The assumptions used in the DCF analysis are very strong and not fitting well in the reality of practical life. Economic life of the project may be much longer or shorter than projected in the analysis. The computation of discount rate bases on subjective interpretations (weights of capital components, cost of debt, opportunity cost of equity). Estimation of cash flows is the most critical input of the analysis but generally the least weighted factor (CF or FCF, inclusion of only relevant cash flows, depreciation and interest expenses, installments, credit sales and purchases, etc.). Risk adjustment can be made either on the discount rate or expected cash flows. Moreover, the analysis of international capital investments makes the issue more complicated. Also, the inclusion of real options adds an economic value to the analysis. Conclusion- DCF is not straight forward a capital budgeting model anyone can easily use. The application of DCF requires expertise and a picky view on details. Nevertheless, the acceptance of capital investments utilizing DCF method can not be independent of overall company strategic goals.Yayın Estimation of Bitcoin volatility: GARCH implementation(Seventh Sense Research Group, 2020-01) Teker, Dilek; Teker, SuatAs bitcoin has been a topic of high interest for academic and professional life over recent years, a number of literature has examined its price movements, volatility, and predictions. Bitcoin is the first and perhaps the most popular cryptocurrency with a high volatility pattern compared to the other cryptocurrencies. This paper examines the models that explain the volatility of Bitcoin prices. The daily data for the Bitcoin prices are used through a period of July 31, 2017, to April 3, 2019, with a total number of observations of 484. Initially, unit root tests are implemented. Then, the heteroskedasticity problem is tested among variables. Based on the results of the heteroskedasticity test, it is decided to use ARCH models. Then, ARCH, GARCH, TGARCH, and EGARCH results are tested to find out the best fit model that explains the bitcoin price movements.Yayın 5G technology and future of banking(The Brooklyn Research and Publishing Institute, 2021-12) Teker, Suat; Teker, Dilek; Orman, IrmakThis study examines the effects ofdevelopments in communication technologies on the banking sector and banking services. In addition, it is envisioned how 5G technology will shape the future of the banking industry. As a result of the analysis, it has been observed that an important innovation and structural transformation period was lived in the banking sector with the use of 3G and before 2000, which we define as traditional banking era. It is concluded that with the expected wide use of 5G technology after year 2022, the banking sector is expected to enter a new and disruptive restructuring and service innovation.
