Esin Cakan, Ph.D.

Esin Cakan Image
Professor

Economics and Business Analytics Department
Pompea College of Business
Education

Ph.D., The City University of New York The Graduate Center, 2008.- Major: Financial Economics, Dissertation Title: Essays on Dynamics of Financial Markets
M.S., Middle East Technical University (METU), 1998. - Major: Economics, Dissertation Title: Policy Regime Change and Structural Break in the Velocity of Money: The Turkish Evidence.
BS, Middle East Technical University (METU), 1995. - Major: Statistics

About Esin

I am a professor of economics at the University of New 51¶ºÄÌ where I teach MBA and undergraduate economics courses. I received my Ph.D. from The Graduate Center of the City University of New York (CUNY) in Economics, with a specialization in financial economics. I hold M.S. degree in Economics and BS degree in Statistics from Middle East Technical University, Turkey. I have work and many teaching experiences. I worked as an economist in Turkey, and I taught many courses in CUNY Colleges as well as at the University of New 51¶ºÄÌ. I have taught financial management, statistics, econometrics, macroeconomics, microeconomics, and principles of economics. My research includes work on exchange rates, herding behavior among investors, financial markets, financial economics and econometrics. My articles have appeared in academic peer-reviewed journals, such as Applied Economics, Applied Economics Letters, Journal of Applied Economics, Economic Modelling and Borsa Istanbul Review. My research papers are cited many times by other researchers. I have been collaborating with graduate students and have presented my findings in academic conferences. My research papers in exchange rates and stock market relationship, the herding behavior among investors, and macroeconomic news effect on stock returns are used in my graduate economics courses as an applied example for the subjects. I am referee for many academic journals and editorial board member of the American Journal of Economics and Business Administration. I am a member of multiple professional/academic Associations such as, the American Economic Association, Western Economic Association, Eastern Economic Association, Financial Management Association. I am a editorial member of the at the .

CV

Published Intellectual Contributions

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Refereed Journal Articles

Marfatia, H. A., Gupta, R., & Cakan, E. (2021). The Quarterly Review of Economics and Finance, 80, 159-169.

Cakan, E., Demiralay S., & Ulusoy, V. (2021). , American Business Review, vol. 24(1), pg: 166-187.

Cakan, E., Demirer, R., Gupta, R. and Marfatia, H.A., (2019). Oil speculation and herding behavior in emerging stock markets. , 43(1), pp.44-56.

Cakan, E., Demirer, R., Gupta, R. , and Uwilingiye, R. (2019). Economic Policy Uncertainty and Herding Behavior Evidence from the South African Housing Market, International Association of Decision Sciences, Asia University, Taiwan, vol. 23(1), pg: 88-113.

Cakan, E., Demirer, R., Gupta, R., & Uwilingiye, J. (2018). A Note on the Technology Herd: Evidence from Large Institutional Investors. Review of Behavioral Finance, vol. 11, issue 3, 294-308.

Cakan, E. (2018). Impact of Financial and Trade Openness on Financial Development in Emerging Market Economies: The Case of Turkey, American Journal of Economics and Business Administration, 2017, 9 (4): pg:71-80, DOI: 10.3844/ajebasp.2017.71.80.

Uwilingiye, J., Cakan, E., Demirer, R., Gupta, R. (2018). "A Note on the Technology Herd: Evidence from Large Institutional Investors." Review of Behavioral Finance, forthcoming.

Cakan, E. (2018). "Impact of foreign direct investment and openness on financial development in emerging market economies: The Case of Turkey." American Journal of Economics and Business Administration, 71-80. thescipub.com/pdf/10.3844/ofsp.11860

Hardik, Marfatia, Gupta, Rangan, Cakan, Esin. 2017. , The North American Journal of Economics and Finance, 42, 640-653 (SSCI, IF: 0.876).

Balcilar, Mehmet, Cakan, Esin and Gupta, Rangan. 2017. , The North American Journal of Economics and Finance, 41(7), 32-43 (SSCI, IF: 0.876).

Cakan, Esin and Gupta, Rangan. 2017. Does U.S. Macroeconomic News Make the South African Stock Market Riskier?, Journal of Developing Areas, 51(4), 15-27.

Balayozyan, A. and Cakan, E. 2016. , ,forthcoming. (accepted in April 2016).SSCI, Impact Factor: 0.679.

Howard, J., Upadhyaya, K., Cakan, E. 2016. , , 4(2), 1-10.

Cakan, E. and Balagyozyan, A. 2016. , , forthcoming, 16(4) (accepted in December 2015).

Cakan, E., Doytch, N., Upadhyaya, K. P. (2015). , , 1 5(1),37-43.

Balcilar, Mehmet, Ozdemir, Zeynel A. and Cakan, Esin (2015). . International Econometric Review, 7(1), 13-33.

Sack, A. L., McComas, A., Cakan, E. (2014). . , 7, 207-223.

Cakan, E., Balagyozyan, A. (2014). . , 21(2), 75-79. SSCI, Impact Factor: 0.34

Cakan, E., Ejara, D. D. (2013). . International Research Journal of Finance and Economics, (111), 115-124.

Cakan, E. (2013). Non-linear Causality Between Stock Returns And Inflation Uncertainty: Evidence From The US And The UK. International Business & Economics Research Journal, 12(1), 63-70.

Cakan, E. (2012). . , 6(10), 385-390.

Doytch, N., Cakan, E. (2011). . , 1 (3), 120-129.

Doytch, N., Cakan, E. (2011). . , 1(1), 4-11.

Balcilar, M., Ozdemir, Z. A., Cakan, E. (2011). . Journal of Applied Economics/Elsevier, 14(2), 269-296. SSCI, Impact Factor: 0,506.

Ozdemir, Z. A., Cakan, E. (2010). . Economic Modelling/Elsevier, 27(5), 891-895. SSCI, Impact Factor: 0.887

Ozdemir, Z. A., Cakan, E. (2007). . , 377(1), 173-180. SSCI, Impact Factor: 1.731

Cakan, E., Ozmen, E. (2002). . , 9(11), 759-62. SSCI, IF: 0.34

Meric, K., Cayci, Z., Cakan, E. (2015). , 39(6), 970-974. (not in econ area, but quantitative methods) Elsevier, IF: 0.68

Professional Positions

ACADEMIC

Associate Professor of Economics (tenured), University of New 51¶ºÄÌ. (September 2014 - Present).

Assistant Professor of Economics, University of New 51¶ºÄÌ. (September 1, 2011 - August 30, 2014).

Assistant Professor of Economics and Finance, University of New 51¶ºÄÌ. (October 16, 2008 - August 30, 2011).

Professional

Research Assistant, International Longevity Center (ILC). (September 2002 - May 2003).

Economist, Turkish Businessmen Association (TUSIAD). (September 2000 - June 2001).

Other

Instructor & Teaching Assistant, Baruch College, Zicklin School of Business, CUNY. (February 2004 - June 2008).

Teaching Assistant, Barnard College of Columbia University. (September 2006 - May 2007).

Instructor, Hunter College, CUNY. (January 2005 - May 2005)

Instructor, Queens College, CUNY. (January 2002 - May 2004).

Instructor, Hostos Community College, CUNY. (September 2002 - June 2003).

Research Assistant, Department of Public Affairs, Baruch College. (September 2004 - May 2005).

Professional Service

Editorial Board Member, . (September 2014 - Present). Reviewing articles for the journal, assigning referees, inviting authors to the journal.

Referee for:

Economic Modelling;

Emerging Markets Finance and Trade;

Journal of Applied Economics;

Bulletin of Economics Research;

The Singapore Economic Review;

International Review of Applied Economics;

Economic Systems;

Economics Bulletin;

Global Economic Review Perspectives on East Asian Economies And Industries;

Global Business and Economics Review;

International Journal of Computational Economics and Econometrics;

International Journal of Economic Policy In Emerging Economies;

The Journal of North African Studies;

International Journal of Banking, Accounting and Finance;

Studies in Economics and Finance;

Scientific Research and Essays.

International Conference on Economics, Business and Research.

Presentations Given

Exchange Rate and Foreign Trade: A comparison study of NAFTA countries (with Alexandra Porteau, Econ student), International Conference "The Economy as a Spatial Complex System" (ESCoS 2018) - II CICSE Workshop, June 21-22, 2018, Naples (Italy).

Do local companies herd? The evidence from Connecticut Region (with Diane Soto and Colin McFarlaine (Econ students), International Conference "The Economy as a Spatial Complex System" (ESCoS 2018) - II CICSE Workshop, June 21-22, 2018, Naples (Italy).

Impact of Oil Price Shocks on Output, Inflation and the Real Exchange Rate in the U.S, 43rd Eastern Economic Association Meeting (EEA), February 25, 2017, NY, NY. (with Bishwa Koirala and Zhixin Kang).

Oil Price and Firm level returns in emerging markets, EuroConference of Society of Study Emerging Markets (SSEM) Meeting, June 30, 2016, Porto, Portugal (with Sercan Demiralay and Veysel Ulusoy).

Cakan, E.(Author & Presenter), Demiralay, S. (Author), Ulusoy, V. (Author), "Oil Prices and Firm Returns in Emerging Markets," Middle Eastern Economic Association at Post ASSA San Francisco, CA. (January 6, 2016)

Cakan, E. (Author & Presenter), Demir, H. U. (Author), Middle Eastern Economic Association at Post ASSA, "Day of the Week Effect of the emerging stock markets and spillover effects," MEEA/Post-ASSA, San Francisco, CA. (January 6, 2016).

Cakan, E. Do some sectors herd more?: Evidence from emerging markets, Financial Management Association (FMA), Orlando, FL.(October 17, 2015).

Cakan, E. (Author & Presenter), Research Forums at the Pompea College of Business, "Do some sectors herd more?: Evidence from emerging markets," University of New 51¶ºÄÌ CoB. (October 8, 2015).

Cakan, E. (Author & Presenter), Balagyozyan, A. (Author), Mona, K. (Author), Western Economic Association Annual Meeting (WEA), "Impact of Foreign Direct Investment, Openness and Institutions on Financial Development in Emerging Market Economies," Western Economic Association/Lipsey Panel, Honolulu, HI. (June 30, 2015).

Cakan, E. (Author & Presenter).Do some sectors herd more?: Evidence from emerging markets, Midwest Economic Association Conference (MEA), Minneapolis, MN (March 27, 2015).

Balagyozyan, A. (Author & Presenter), Cakan, E. (Author & Presenter), Northeast Business and Economics, "Did Institutional Investors Flock into the Technology Herd? An Empirical Investigation," Northeast Business and Economics Association (NBEA), New Jersey. (November 7, 2014).

Cakan, E. (Author & Presenter), Doytch, N. (Author), Upadhyaya, K. P. (Author), World Finance Conference, "Do US macroeconomic news make emerging markets riskier?," Venice. (July 3, 2014).

Cakan, E. (Author & Presenter), Balagyozyan, A. (Author & Presenter), Demir, H. U. (Author), Annual Eastern Economic Association Conference(EEA), "Hedge funds, markets, and causality: Evidence from the US," Boston. (March 7, 2014).

Cakan, E. (Author & Presenter), Atan, M. (Author), Atan, S. (Author), Annual Eastern Economic Association Conference (EEA), "The impact of the global financial crisis on the Turkish banking industry," Boston. (March 7, 2014).

Cakan, E. (Chair), Annual Eastern Economic Association Conference, "Consumer Demand, Income Distribution and Finance," EEA, Boston. (March 7, 2014).

Cakan, E. (Coordinator/Organizer), Annual Eastern Economic Association Meeting, "Topics in Applied Economics," EEA, Boston. (March 7, 2014).

Cakan, E. (Author & Presenter), Balagyozyan, A. (Author), Eastern Economic Association Meeting, "Herding behavior in Turkish banking industry," EEA, NY. (May 9, 2013).

Cakan, E. (Author & Presenter), Fung, T. (Author), Lau, M. (Author), Demir, E. (Author), Eastern Economic Association Meeting, "Sport Event Sentiment and Turkish Market Return," EEA, NY. (May 9, 2013).

Cakan, E. (Discussant), Eastern Economic Association Meeting, "Substitution of Commodity Futures for Equity Securities in Efficient Portfolio," EEA, NY. (May 9, 2013).

Cakan, E. (Coordinator/Organizer), Eastern Economic Association Meeting, "Topics in Applied Economics," EEA, NY. (May 9, 2013).

Cakan, E. (Discussant), "Economic Impact of Oil Price in Selected Asian Countries," Eastern Economic Association Meeting. (May 9, 2013).

Balagyozyan, A. (Author & Presenter), Cakan, E. (Author & Presenter), Western Economic Association Conference (WEA), "Do Institutional Investors Herd? A Markov-Switching Approach," Western Economic Association Meeting, San Francisco, California. (2012).

Cakan, E. (Author & Presenter), Research Forums at University of New 51¶ºÄÌ, "The impact of US macroeconomic news on emerging markets," University of New 51¶ºÄÌ CoB, New 51¶ºÄÌ. (September 17, 2012).

Cakan, E. (Author & Presenter), Mona, K. (Author), "Impact of Military Expenses on the US Economic Growth:A Cointegration Analysis by ARDL Bound Test," Economics Brown Bag Series at University of New 51¶ºÄÌ, New 51¶ºÄÌ. (April 25, 2012).

Cakan, E., Mona, K., Eastern Economic Association Meeting, "Impact of Military Expenditure on US Economic Growth: A Cointegration Analysis by ARDL Bound Test," Eastern Economic Association Meeting, Boston, Massachusetts. (March 10, 2012).

Cakan, E. (Coordinator/Organizer), Eastern Economic Association Meeting, "Topics in Macroeconomics," EEA, Boston, MA. (March 10, 2012).

Cakan, E. (Author), Cayci, Z. (Author & Presenter), Nuclear Medicine Conference, "Comparative Volumetric Analysis of Glioblastoma Multiforme Cases Using F18 FDG PET/MRI Fusion Images in Evaluation of Early Treatment Response to Superselective Intraarterial Cerebral Infusion of Bevacizumab or Temozolamide: A Preliminary Study," Nuclear Medicine Conference, Chicago, Illinois. (December 2011).

Balcilar, M., Ozdemir, Z., Cakan, E., "Financial Liberalization and Dynamics of International Stock Prices: Long Memory or Unit Root?," Multinational Finance Society Annual Conference, Rome, Italy. (2011).

Doytch, N., Cakan, E., "Growth Effects of the Sectoral Distribution of FDI in Latin America and the Caribbean- a Panel Cointegration Study," Eastern Economic Association Meeting, NY, New York. (2011).

Cakan, E., "Impact of US macroeconomic news on emerging market economies," Research Forums at the University of New 51¶ºÄÌ. (2011).

Cakan, E. (Author & Presenter), Society for Studies of Emerging Markets (SSEM) Euro Conference, "The impact of openness and institutions on the financial development in Asian emerging markets: A cointegration analysis by ARDL bounds tests," Society for Studies of Emerging Markets (SSEM) Euro Conference, Izmir, Turkey. (2011).

Cakan, E. (Author), Cayci, Z. (Author & Presenter), Society for Nuclear Medicine Conference, "Usefulness of F18-FDG PET in differential diagnosis of common malignant brain tumors and in determining the unknown primary tumors presenting with brain metastases," Society for Nuclear Medicine Conference, San Antonio, Texas. (June 4, 2011).

Cakan, E. (Author & Presenter), Balcilar, M. (Author), Ozdemir, Z. A. (Author), Eastern Economic Association Meeting, "Financial development, openness, and institutions: Time series evidence from 7 Asian economies," EEA, NY, New York. (March 2011).

Cakan, E. (Author), Ejara, D. D. (Author & Presenter), Middle Eastern Economic Association Meeting at ASSA Meeting, "Dynamic linkages between exchange rates and stock prices: Evidence from emerging markets," Middle Eastern Economic Association, Denver, Colorado. (January 2011).

Cakan, E. (Discussant), Eastern Economic Association Meeting, Eastern Economic Association Meeting. (2010).

Cakan, E. (Discussant), FMA, "discussed paper:"Exchange Rates and Foreign Direct Investment: Evidence for sub-Saharan Africa" by Adil H. Elsharif Suliman.," Financial Management Association Conference, NY, New York. (2010).

Cakan, E. (Discussant), Southern Financial Association, Southern Financial Association, Asville, North Carolina. (2010).

Ozdemir, Z. (Author), Cakan, E. (Author), Southern Financial Association, "Financial Liberalization and Dynamics of International Stock Prices: Long Memory or Unit Root?," SFA, Asville, North Carolina. (2010).

Upadhyaya, K. P., Doytch, N., Cakan, E., "Impacts of U.S. Macroeconomic News on Emerging Financial Markets," Southern Economic Association Meeting, Atlanta, Georgia. (November 2010).

Cakan, E. (Author & Presenter), Doytch, N. (Author), Upadhyaya, K. P. (Author), Southern Economic Association Meeting, "Impacts of US Economic News on Emerging Financial Markets," Southern Economic Association Meeting, Atlanta, Georgia. (November 2010).

Cakan, E. (Author & Presenter), Ejara, D. D. (Author), Society for Studies of Emerging Markets (SSEM) Euro Conference, "Dynamic linkages between exchange rates and stock prices: Evidence from emerging markets," Society for Studies of Emerging Markets, Milas, Turkey. (June 28, 2010).

Cakan, E. (Author & Presenter), Research Forums at University of New 51¶ºÄÌ, "Financial development, openness, and institutions: Time series evidence from 7 Asian economies," University of New 51¶ºÄÌ CoB, New 51¶ºÄÌ, Connecticut. (April 2010).

Cakan, E. (Author & Presenter), Ozdemir, Z. A. (Author), Eastern Economic Association Meeting, "Financial Liberalization and Dynamics of International Stock Prices: Long Memory or Unit Root?," Eastern Economic Association Meeting, Philadelphia, Pennsylvania. (February 26, 2010).

Cakan, E. (Author & Presenter), Doytch, N. (Author & Presenter), Eastern Economic Association Meeting, "Sectoral Growth Effects of United States Mergers and Acquisitions: A Time Series Analysis," EEA, Philadephia, PA. (February 26, 2010).

Cakan, E. (Author & Presenter), Academy of International Business Conference (AIB), "Nonlinear causality between stock returns and inflation uncertainty: Evidence from the US and the UK," Academy of International Business Conference (AIB), NY, New York. (2009).

Cakan, E. (Author & Presenter), Ozdemir, Z. A. (Author), Research Forums at University of New 51¶ºÄÌ, "Persistence in Real Exchange Rates: Evidence from East Asian Countries," Research Forums at University of New 51¶ºÄÌ. (April 2009).

Cakan, E. (Discussant), Midwest Economic Association (MEA), Midwest Economic Association (MEA), Cleveland, Ohio. (March 2009).

Cakan, E. (Author), Midwest Economic Association Meeting, "On the nonlinear causality between stock returns, inflation and inflation uncertainty," Midwest Economic Association, Cleveland. (March 2009).

Cakan, E. (Author & Presenter), Ozdemir, Z. A. (Author), Eastern Economic Association Meeting, "Persistence in Real Exchange Rates: Evidence from East Asian Countries," Eastern Economic Association Meeting, NY, New York. (February 2009).

Cakan, E. (Author & Presenter), Wang, T., Eastern Economic Association Meeting, "The effect of macroeconomic news announcements and surprises on the stock and bond markets," Eastern Economic Association Meeting, NY, New York. (February 2008).

Cakan, E., "Testing Structural Break In Turkish Monetary Aggregates," Middle East Technical University International Economic Conference, Ankara, Turkey. (1998).

Awards and Honors

Faculty Merit Awards, University of New 51¶ºÄÌ. (November 2012, Nov. 2013).

Summer Research Grant and Research Fund, University of New 51¶ºÄÌ, 2013

Summer Research Grant and Research Fund, University of New 51¶ºÄÌ, 2012.

Summer Research Grant and Research Fund, University of New 51¶ºÄÌ, 2011.

Summer Research Grant and Research Fund, University of New 51¶ºÄÌ, 2010.

Summer Research Grant and Research Fund, University of New 51¶ºÄÌ, 2009.

Graduate Teaching Fellowship in Queens College, CUNY, 2004.

PSC/CUNY Tuition Award, CUNY, 2003.

PSC/CUNY Tuition Award, CUNY 2001.

Fellowship from Turkish Academy of Sciences, 2000-2001.

Graduated in with Honors Degree in Statistics, Middle East Technical University, Rank 10 out of 172, 1995.

Courses Taught
  • FINC 6601 Financial Management
  • FINC 6605 Data Evaluation and Modeling
  • ECON 6601 Macroeconomics/Microeconomics
  • ECON 3320 Applied Econometrics
  • ECON 3342 International Economics
  • ECON 1133 Principles of Economics I
  • ECON 1134 Principles of Economics II
  • ECON 240 Research Methods in Sustainability
  • ECON 4451 ST: Business Forecasting
  • ECON 3342 International Economics
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