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Cakan, Esin (full)
Esin
Cakan
Ph.D.
Associate Professor
Business
Economics
203-932-7496
Maxy126F
Maxcy Hall
About Me

    I am an associate professor of economics at the University of New Haven 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 MS 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 Univeristy of New Haven. 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 EconomicsApplied 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 Southern Connecticut Economic Activity Report at the New Haven Economic Performance Laboratory.

    Personal Web Site  

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    CV

    Please click here for the CV.

    Education

    PhD, The City University of New York The Graduate Center, 2008.
    Major: Financial Economics
    Dissertation Title: Essays on Dynamics of Financial Markets

    MS, 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

        Published Intellectual Contributions

        Click here for SSRN; RePEC; Research Gate or Google Scholar webpages.

         

        Refereed Journal Articles
        1. Balayozyan, A. and Cakan, E. 2016. Did Large Institutional Investors Flock into the Technology Herd?: An Empirical Investigation Using a Vector Markov-switching Model, Applied Economics,forthcoming. (accepted in April 2016).SSCI, Impact Factor: 0.679. 

        2. Howard, J., Upadhyaya, K., Cakan, E. 2016. Climate Change and Its Impact on Wheat Production in KansasInternational Journal of Food and Agricultural Economics, 4(2), 1-10.

        3. Cakan, E. and Balagyozyan, A. 2016. Sectoral Herding: Evidence from an Emerging Market, Journal of Accounting and Finance ,   forthcoming, 16(4) (accepted in December 2015).

        4. Cakan, E., Doytch, N., Upadhyaya, K. P. (2015). Does U.S. macroeconomic news make emerging financial markets riskier? Borsa Istanbul Review/Elsevier , 1 5(1),37-43. 

        5. Balcilar, Mehmet, Ozdemir, Zeynel A. and Cakan, Esin (2015). Structural Breaks, Long Memory, or Unit Roots in Stock Prices: Evidence from Emerging Markets. International Econometric Review, 7(1), 13-33.

        6. Sack, A. L., McComas, A., Cakan, E. (2014). The Revival of Multiyear Scholarships in the Twenty-First Century: Which Universities Supported and Opposed this Legislation and Why?Journal of Issues in Intercollegiate Athletics, 7, 207-223.

        7. Cakan, E., Balagyozyan, A. (2014). Herd behavior in the Turkish banking sector. Applied Economics Letters, 21(2), 75-79. SSCI, Impact Factor: 0.34

        8. Cakan, E., Ejara, D. D. (2013). On the Relationship between Exchange Rates and Stock Prices: Evidence from Emerging Markets. International Research Journal of Finance and Economics(111), 115-124.

        9. 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.

        10. Cakan, E. (2012). The Business Cycle And Impacts Of Economic News On Financial Markets. Journal of Business & Economics Research, 6(10), 385-390.

        11. Doytch, N., Cakan, E. (2011). Growth Effects of Mergers and Acquisitions: A Sector-level Study of OECD countries. Journal of Applied Economics and Business Research , 1 (3), 120-129.

        12. Doytch, N., Cakan, E. (2011). Sectoral Growth Effects of United States Mergers and Acquisitions: A Time Series Analysis. Journal of Applied Economics and Business Research, 1(1), 4-11.

        13. Balcilar, M., Ozdemir, Z. A., Cakan, E. (2011). On the nonlinear causality between inflation and inflation uncertainty uncertainty in the G3 countries. Journal of Applied Economics/Elsevier, 14(2), 269-296. SSCI, Impact Factor: 0,506.

        14. Ozdemir, Z. A., Cakan, E. (2010). Persistence in Real Exchange Rates: Evidence from East Asian Countries. Economic Modelling/Elsevier, 27(5), 891-895. SSCI, Impact Factor: 0.887

        15. Ozdemir, Z. A., Cakan, E. (2007). Non-linear dynamic linkages in the international stock markets. Physica A: Statistical Mechanics and Applications, 377(1), 173-180. SSCI, Impact Factor: 1.731

        16. Cakan, E., Ozmen, E. (2002). Policy Regime Change and Structural Break in the Velocity of Money: The Turkish Evidence. Applied Economics Letters, 9(11), 759-62. SSCI, IF: 0.34

        17. Meric, K., Cayci, Z., Cakan, E. (2015). The use of 18F-FDG PET ratios in the differential diagnosis of common malignant brain tumors. Clinical Imaging, 39(6), 970-974. (not in econ area, but quantitative methods) Elsevier, IF: 0.68

          Conference Proceedings

          1. Cakan, E., Doytch, N., Upadhyaya, K. P. (07/31/2014). Do US macroeconomics news make emerging financial markets more riskier?.

          2. Doytch, N., Cakan, E., Zirek, D. (12/31/2011). Sectoral Growth Effects of United States Mergers and Acquisitions: A time Series Analysis. Northeast Business and Economics Association.

          3. Cakan, E., Cayci, Z. (12/31/2011). 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.

            Professional Positions

            Academic 

            Associate Professor of Economics (tenured), University of New Haven. (September 2014 - Present). 

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

            Assistant Professor of Economics and Finance, University of New Haven. (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, American Journal of Economics and Business Administration. (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

              1. Cakan, E.(Author & Presenter), Demiralay, S. (Author), Ulusoy, V. (Author), Middle Eastern Economic Association at Post ASSA, "Oil Prices and Firm Returns in Emerging Markets," MEEA/Post-ASSA, San Francisco, CA. (January 6, 2016).
              2. 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).
              3. Cakan, E. Do some sectors herd more?: Evidence from emerging markets, Financial Management Association (FMA), Orlando, FL.(October 17, 2015).
              4. Cakan, E. (Author & Presenter), Research Forums at the College of Business, "Do some sectors herd more?: Evidence from emerging markets," UNH CoB. (October 8, 2015).
              5. 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).
              6. Cakan, E. (Author & Presenter).Do some sectors herd more?: Evidence from emerging markets, Midwest Economic Association Conference (MEA), Minneapolis, MN (March 27, 2015).
              7. 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).
              8. 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).
              9. Cakan, E. (Author & Presenter), Balagyozyan, A. (Author & Presenter), Demir, H. U. (Author), Annual Eastern Economic Asscociation  Conference(EEA), "Hedge funds, markets, and causality: Evidence from the US," Boston. (March 7, 2014). 
              10. 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).
              11. Cakan, E. (Chair), Annual Eastern Economic Association Conference, "Consumer Demand, Income Distribution and Finance," EEA, Boston. (March 7, 2014).
              12. Cakan, E. (Coordinator/Organizer), Annual Eastern Economic Association Meeting, "Topics in Applied Economics," EEA, Boston. (March 7, 2014).
              13. Cakan, E. (Author & Presenter), Balagyozyan, A. (Author), Eastern Economic Association Meeting, "Herding behavior in Turkish banking industry," EEA, NY. (May 9, 2013).
              14. 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).
              15. Cakan, E. (Discussant), Eastern Economic Association Meeting, "Substitution of Commodity Futures for Equity Securities in Efficient Portfolio," EEA, NY. (May 9, 2013). 
              16. Cakan, E. (Coordinator/Organizer), Eastern Economic Association Meeting, "Topics in Applied Economics," EEA, NY. (May 9, 2013).
              17. Cakan, E. (Discussant), "Economic Impact of Oil Price in Selected Asian Countries," Eastern Economic Association Meeting. (May 9, 2013).
              18. 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).
              19. Cakan, E. (Author & Presenter), Research Forums at University of New Haven, "The impact of US macroeconomic news on emerging markets," UNH CoB, New Haven. (September 17, 2012).
              20. 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 UNH, New Haven. (April 25, 2012). 
              21. 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).
              22. Cakan, E. (Coordinator/Organizer), Eastern Economic Association Meeting, "Topics in Macroeconomics," EEA, Boston, MA. (March 10, 2012). 
              23. 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).
              24. 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).
              25. 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).
              26. Cakan, E., "Impact of US macroeconomic news on emerging market economies," Research Forums at UNH. (2011).
              27. 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).
              28. 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).
              29. 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).
              30. 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).
              31. Cakan, E. (Discussant), Eastern Economic Association Meeting, Eastern Economic Association Meeting. (2010).
              32. 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).
              33. Cakan, E. (Discussant), Southern Financial Association, Southern Financial Association, Asville, North Carolina. (2010).
              34. 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).
              35. 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).
              36. 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).
              37. 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).
              38. Cakan, E. (Author & Presenter), Research Forums at University of New Haven, "Financial development, openness, and institutions: Time series evidence from 7 Asian economies," UNH CoB, New Haven, Connecticut. (April 2010).
              39. 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, Philedelphia, Pennsylvania. (February 26, 2010).
              40. 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, Philedephia, PA. (February 26, 2010).
              41. 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).
              42. Cakan, E. (Author & Presenter), Ozdemir, Z. A. (Author), Research Forums at University of New Haven, "Persistence in Real Exchange Rates: Evidence from East Asian Countries," Research Forums at University of New Haven. (April 2009). 
              43. Cakan, E. (Discussant), Midwest Economic Association (MEA), Midwest Economic Association (MEA), Cleveland, Ohio. (March 2009). 
              44. Cakan, E. (Author), Midwest Economic Association Meeting, "On the nonlinear causality between stock returns, inflation and inflation uncertainty," Midwest Economic Association, Cleveland. (March 2009).
              45. 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).
              46. 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).
              47. 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, UNH. (November 2012, Nov. 2013).
                Summer Research Grant and Research Fund, University of New Haven, 2013
                Summer Research Grant and Research Fund, University of New Haven, 2012.
                Summer Research Grant and Research Fund, University of New Haven, 2011.      
                Summer Research Grant and Research Fund, University of New Haven, 2010.
                Summer Research Grant and Research Fund, University of New Haven, 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.

                Teaching Experience

                University of New Haven

                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

              CV
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