No abstract

This paper examines the volatility of cryptocurrencies, with particular attention to their potential long memory properties. Using daily data for the three major cryptocurrencies, namely Ripple, Ethereum, and Bitcoin, we test for the long memory property using, Rescaled Range Statistics (R/S), Gaussian Semi Parametric (GSP) and the Geweke and Porter-Hudak (GPH) Model Method. Our findings show that squared returns of three cryptocurrencies have a significant long memory, supporting the use of fractional Generalized Auto Regressive Conditional Heteroscedasticity (GARCH) extensions as suitable modelling technique. Our findings indicate that the Hyperbolic GARCH (HYGARCH) model appears to be the best fitted model for Bitcoin. On the other hand, the Fractional Integrated GARCH (FIGARCH) model with skewed student distribution produces better estimations for Ethereum. Finally, FIGARCH model with student distribution appears to give a good fit for Ripple return. Based on Kupieck’s tests for Value at Risk (VaR) back-testing and expected shortfalls we can conclude that our models perform correctly in most of the cases for both the negative and positive returns.

The audit committees play a significant role on oversight function of the companies' boards over their audit and financial reporting systems. U.S. Securities Exchange Commission Act; defined audit committee as an equivalent body established by and amongst the board of directors of an issuer for the purpose of overseeing the accounting and as a financial reporting processes of the issuer and audits of the financial statements of the issuer. According to Turkish Banking Law 5411 Article 24 bank should establish audit committees for the execution of the audit and monitoring functions of board of directors and should consist of minimum two members who do not have any executive duties. In Turkey the auditing committee practices in banks are monitored and supervised by Banking Regulation and Supervision Agency. In this study we examine whether the annual meeting number of audit committees have an effect over the banks financial performance in the means of loans under legal follow-up. The study is planned to include data of 3 governmental depository banks which are settled in Turkey.

The aim of this study is to measure the accounting and finance literacy level of the students who are studying at banking and finance department. For this purpose, a questionnaire was applied to the students at the department of banking and finance in Manisa Celal Bayar University. The questionnaire was also applied to other students who were referred to as the control group. The control group consists of students who have not previously studied accounting and finance. The questionnaire was answered by 92 students in the banking and finance department and by 95 students in the control group. One of the sub-objectives of the study is to compare between banking and finance students and control group. Thus, the existence of accounting and finance literacy in these students will be analyzed in a healthier way. According to the survey findings, while the financial literacy of the students studying in the banking department is acceptable, but it cannot be said that the same results are valid for the accounting literacy of these students.

No abstract