{"id":17795,"date":"2023-04-17T16:23:00","date_gmt":"2023-04-17T13:23:00","guid":{"rendered":"https:\/\/www.khas.edu.tr\/events\/khas-finance-seminars-dr-tugkan-tuzun\/"},"modified":"2025-05-14T10:57:24","modified_gmt":"2025-05-14T07:57:24","slug":"khas-finance-seminars-dr-tugkan-tuzun","status":"publish","type":"etkinlik","link":"https:\/\/www.khas.edu.tr\/en\/events\/khas-finance-seminars-dr-tugkan-tuzun\/","title":{"rendered":"KHAS Finance Seminars &#8211; Dr. Tu\u011fkan T\u00fcz\u00fcn"},"content":{"rendered":"\n<p>Kadir Has \u00dcniversitesi Uluslararas\u0131 Ticaret ve Finansman B\u00f6l\u00fcm\u00fc\u2019n\u00fcn d\u00fczenledi\u011fi\u00a0<strong>Finans Seminerleri\u00a0<\/strong>serisinin\u00a0<strong>10 May\u0131s Sal\u0131\u00a0<\/strong>g\u00fcn\u00fc konu\u011fu\u00a0Federal Reserve\u2019den (FED)\u00a0<strong>Dr. Tu\u011fkan T\u00fcz\u00fcn\u00a0<\/strong>oluyor.<\/p>\n\n<p>Dr. T\u00fcz\u00fcn\u2019\u00fcn\u00a0<strong>\u201cDo ETFs Increase Liquidity?\u201d\u00a0<\/strong>ba\u015fl\u0131kl\u0131 konu\u015fmas\u0131n\u0131\u00a0<strong>saat 16:00<\/strong>\u2018dan itibaren Zoom \u00fczerinden takip edebilirsiniz.<strong>\u00a0<\/strong><\/p>\n\n<p>The language of the event is English.<\/p>\n\n<p><strong>Zoom Meeting ID:\u00a0<\/strong>834 4868 9871\u00a0<\/p>\n\n<p><strong>Zoom Link:\u00a0<\/strong><a href=\"https:\/\/eur03.safelinks.protection.outlook.com\/?url=https%3A%2F%2Fus02web.zoom.us%2Fj%2F83448689871&amp;data=05%7C01%7Cyesim.gultekin%40khas.edu.tr%7C0324a793b378434e33e408da29e92707%7Cf2ea0fb27d344ebf9e5364ec41288dbb%7C0%7C0%7C637868378593920693%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C3000%7C%7C%7C&amp;sdata=%2Bm0psEZH5DqfF4n12FRpd6yk0ymBq2T0wSGHIk%2F3fCM%3D&amp;reserved=0\">https:\/\/us02web.zoom.us\/j\/83448689871<\/a>\u00a0<\/p>\n\n<p><strong>\u00d6zet:\u00a0<\/strong>This paper investigates the impact of exchange-traded funds (ETFs) on the liquidity of their underlying stockholdings. Using a difference-in-differences methodology for large changes in the index weights of stocks in the S&amp;P 500 and NASDAQ 100 indexes, we find that increases in ETF ownership are associated with increases in commonly used measures of liquidity. Stocks with high ETF ownership have higher price resilience and lower adverse selection costs. However, ETFs are linked to higher liquidation costs during the 2011 U.S. debt-ceiling crisis, suggesting that stocks with high ETF ownership may experience impaired liquidity during major market stress events.\u00a0<\/p>\n\n<p>Available at SSRN:<strong>\u00a0<a href=\"https:\/\/eur03.safelinks.protection.outlook.com\/?url=https%3A%2F%2Fssrn.com%2Fabstract%3D3142081&amp;data=05%7C01%7Chande.cetin%40khas.edu.tr%7C91f6c363851845883e4c08da2fb1b74d%7Cf2ea0fb27d344ebf9e5364ec41288dbb%7C0%7C0%7C637874737577977694%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C3000%7C%7C%7C&amp;sdata=oEPluQ4Vk0tBf%2FZuutNX2aCOruX0PF5TfJhss3FIayA%3D&amp;reserved=0\">https:\/\/ssrn.com\/abstract=3142081<\/a>\u00a0<\/strong><\/p>\n\n<p><strong>Konu\u015fmac\u0131 Hakk\u0131nda:\u00a0<\/strong>Tu\u011fkan T\u00fcz\u00fcn is a Principal Economist at the Capital Markets Section of the Federal Reserve Board. Dr. T\u00fcz\u00fcn joined the Board of Governors of the Federal Reserve System in 2011. Dr. T\u00fcz\u00fcn earned his Ph.D. in Finance from University of Maryland in 2011. He holds an M.A. degree in Economics from University of Virginia (2006) and a B.A. degree in Economics from Bo\u011fazi\u00e7i University (2004). Institutional asset management, ETFs and market liquidity are among the current research interests of Dr. T\u00fcz\u00fcn. Dr. T\u00fcz\u00fcn has published in Finance journals including Journal of Finance and Journal of Financial Markets. He received the best paper award in FMA Europe 2012, best paper award in investments and asset pricing in FMA Europe 2019, and Harry M. Markowitz Special Distinction Award by Journal of Investment Management in 2019.\u00a0<\/p>\n\n<p>\u00a0<\/p>\n","protected":false},"featured_media":19037,"template":"","meta":{"slim_seo":{"title":"KHAS Finance Seminars - Dr. Tu\u011fkan T\u00fcz\u00fcn - Kadir Has University","description":"Kadir Has \u00dcniversitesi Uluslararas\u0131 Ticaret ve Finansman B\u00f6l\u00fcm\u00fc\u2019n\u00fcn d\u00fczenledi\u011fi\u00a0 Finans Seminerleri\u00a0 serisinin\u00a0 10 May\u0131s Sal\u0131\u00a0 g\u00fcn\u00fc konu\u011fu\u00a0Federal Reserve\u2019den ("}},"birimler":[82],"class_list":["post-17795","etkinlik","type-etkinlik","status-publish","has-post-thumbnail","hentry","birimler-itf"],"_links":{"self":[{"href":"https:\/\/www.khas.edu.tr\/en\/wp-json\/wp\/v2\/etkinlik\/17795","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.khas.edu.tr\/en\/wp-json\/wp\/v2\/etkinlik"}],"about":[{"href":"https:\/\/www.khas.edu.tr\/en\/wp-json\/wp\/v2\/types\/etkinlik"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.khas.edu.tr\/en\/wp-json\/wp\/v2\/media\/19037"}],"wp:attachment":[{"href":"https:\/\/www.khas.edu.tr\/en\/wp-json\/wp\/v2\/media?parent=17795"}],"wp:term":[{"taxonomy":"birimler","embeddable":true,"href":"https:\/\/www.khas.edu.tr\/en\/wp-json\/wp\/v2\/birimler?post=17795"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}