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General Purpose and Focused Invention, Market Value, and Productivity
(2024) Dindaroğlu, Burak
We study returns to general purpose and focused invention at the firm level for a panel of manufacturing firms in the U.S. for the period 1976-1995, by studying their relationships with market value and Total Factor Productivity. We construct stocks of patents that lie at the two relevant tails of the distribution of the generality index (Trajtenberg et al., 1997; Henderson et al, 1998) to measure general purpose and focused invention at the firm level. In line with expectations, there is a market value premium to focused invention, and a productivity premium to general purpose invention. Estimates for the value of focus indicate that moving a single patent from the upper tail of the generality distribution to the lower tail would increase market value by .24×q million 1992 dollars on average, where q is Tobin’s q. The firm with the average general patent stock would gain 6.7×q million in market value if all its patents at the highest quartile of the generality distribution were moved to the lowest. In terms of the value of general purposeness, moving all its focused patents to the general category increases Total Factor Productivity by 2.3% to 2.8%, and five-year productivity growth by 3.9% to 5.2%, for the average firm. A potential implication is that corporate basic research is associated with significant long-term benefits in terms of productivity growth.
Citation - Scopus: 1
İzmir'in bir dağ köyü: Yamanlar ve Yamanlar Yörükleri üzerine etnotarihsel bir inceleme
(Rector CIU Cyprus int Univ, 2023) Ustuk, Ozan
This study examines the history, language, social, and economic transformation of the Yuruks living in the Yamanlar Village located in the Karsiyaka district, where there is relatively little information in the literature despite its proximity to the Izmir city center. Information collected from the Ottoman Era cemetery adjoining the village reveals that the Yamanlar Yuruks have lived here for at least 400 years. Mount Yamanlar, where the village is located, is of great importance because of its ancient history, as it witnessed the founding of Izmir (Smyrna). The social and economic lifestyle in the village has transformed as the city expanded toward residential areas atop Mount Yamanlar. The loss of traditional livelihood practices challenged the villagers and severely influenced their customs, which might be considered valuable pieces of cultural heritage. In this study, we conducted fieldwork, during which various data collection methods and techniques were employed to describe daily life in the village. Within the scope of this study, semi-structured and unstructured interviews were conducted with the local people, and an oral historical study was carried out. With this method, we aimed to present an ethnohistorical description of the Yamanlar Village by trying to establish a balance between the analysis of both written documents and oral data to make sense of the social and economic change it has undergone and to contribute to the literature on Izmir Yuruks.
International Investors, Volatility, and Herd Behavior: Borsa İstanbul, 2001-2016
(2020) Akçaalan, Ezgi; Dindaroğlu, Burak; Binatlı, Ayla Oğuş
We study herding in Borsa Istanbul between 2001 and 2016, focusing on the effects of international investors and market volatility. Herding explains 31% of total variability in the cross sectional standard deviation of beta values, controlling for market fundamentals. We perform time-series analysis of a herding index and find that herding increases following increased trading by international investors, but falls with overall trading volume on the market. Herding rises in response to increased volatility, rather than leading to it, against previous arguments. Investors do not herd during economic crises, but following important events that raise political tension in the country.
Military Intelligence Deeds in the Reports of Izmir British Consulate General (1878-1914)
(Ege Univ, 2011) Aditatar, Funda
From 1825 up to the late nineteenth century the British Levant Consular Service developed highly parallel with the policy of Britain in the Ottoman Empire. During the protection policy of the Ottoman territory which continued until the 1870s, political and commercial aspects of consular services has been formulated almost an equal level. Instead of protecting the territorial integrity of the Empire after the Berlin Treaty of 1878 turned into a controlled sharing and consuls began press to served heavily political direction. The aim of this paper is to evaluate reports of Izmir British Consulate about military intelligence. The voluminous reports of the consulate related with the military intelligence. This situation occurs in Izmir because of commercial importance and strategic location, and also riots and wars all of these can be explained in the intensive military mobility during the last period of the Empire (1878-1914).

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