Yazar "Depren, Serpil Kilic" seçeneğine göre listele

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    Dynamic effect of disaggregated level electricity generation on residential carbon emissions: Daily inference from the largest EU economies
    (Elsevier, 2024) Pata, Ugur Korkut; Kartal, Mustafa Tevfik; Alola, Andrew Adewale; Depren, Serpil Kilic
    This study examines the dynamic effects of electricity generation (EG) on CO2 emissions from the residential sector. The study focuses on the EU-4 countries (Germany, Spain, France, and Italy), considers residential CO2 emissions as the dependent variable, and includes disaggregated level fossil and renewable EG as explanatory variables. In this context, the study runs nonlinear quantile-on-quantile (QQ) regression and Granger causality in quantiles (GQ) as the main models with daily data from January 2, 2019, to March 10, 2023, while quantile regression (QR) is used for robustness check. The findings present that in terms of CO2 emissions: (i) EG from coal, natural gas, and oil has a stimulating effect at higher quantiles in all countries; (ii) EG from hydro has an increasing effect at higher quantiles, while it has a decreasing effect at lower and middle quantiles in all countries except France; (iii) EG from solar has a dampening effect at higher quantiles in all countries except France; (iv) EG from wind has a declining effect at higher quantiles in both Spain and France; (v) both fossil and renewable energy EG have a causal effect on residential sector CO2 emissions at the disaggregated level except at some quantiles. Overall, the effect size and the causal effect of EG on CO2 emissions change for quantiles, countries, and EG sources. Therefore, the study proposes to rely on the specific EG sources for Germany and Italy (solar energy), Spain, and France (wind energy) to mitigate climate change by reducing residential CO2 emissions.
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    Effect of Political Stability, Geopolitical Risk and R&D Investments on Environmental Sustainability: Evidence from European Countries by Novel Quantile Models
    (Prague Univ Economics And Business, 2024) Depren, Serpil Kilic; Erdogan, Sinan; Kartal, Mustafa Tevfik; Pata, Ugur Korkut
    This research investigates the effect of political stability and geopolitical risk on environmental sustainability (ES) by considering R&D investments in nuclear and renewable energy. Considering the high political stability and recent energy crisis and increasing geopolitical risk, the study focuses on three leading European countries. We use the load capacity factor, include data between 1985/1 and 2020/12, and apply quantile on quantile regression (QQ), Granger causality in quantiles (GQ), and quantile regression (QR) models. The study finds that in higher quantiles (i) increasing political stability stimulates the ES in Sweden and the United Kingdom; (ii) increasing geopolitical risk supports the ES in France; (iii) R&D investments increase the ES in all the countries; (iv) there are generally causal effects from the explanatory variables to the ES except some quantiles (0.45-0.50) in all the countries; (v) the power effects of the variables differ according to countries, quantiles and variables.
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    Effects of Environment, Social, and Governance (ESG) Disclosures on ESG Scores: Investigating the Role of Corporate Governance for Publicly Traded Turkish Companies
    (Academic Press Ltd- Elsevier Science Ltd, 2024) Kartal, Mustafa Tevfik; Taskin, Dilvin; Shahbaz, Muhammad; Depren, Serpil Kilic; Pata, Ugur Korkut
    The world has experienced climate-related issues, which increase the importance of ESG disclosures and corporate governance (CG) of companies, which take place at the heart of economies. Therefore, improving ESG disclosures and CG practices becomes significant to combat climate change at the company level. Considering that Turkiye restructured ESG disclosures in 2022, this study investigates the role of CG on the nexus between ESG scores of publicly traded companies (PTC) and ESG reports. So, the study analyzes 102 PTC (full sample), 51 PTC in Borsa Istanbul Corporate Governance Index (in-sample), and the remaining 51 PTC (out-sample) using ESG disclosures of 2022 and applying novel super learner (SL) algorithm. Our results show that (i) SL has a higher prediction performance reaching similar to 94.3%; (ii) the environment (governance) layer has the highest (lowest) total relative importance (contribution) to ESG scores in all samples; (iii) C8, S6, and E5 are the most important ESG principles in the full sample, in-sample, and out-sample, respectively; (iv) the contribution of each ESG principles to the total ESG scores varies by sample; (v) CG plays a smoothing role for the relative importance of each ESG principle, while the relative importance in the out-sample shows much higher volatility. Overall, the study reveals the non-linear contributions of ESG principles on ESG scores and suggests that PTC should prioritize highly important ESG principles, consider the moderating role of CG on the link between ESG scores and ESG disclosures, and use ESG disclosures as a strategic tool to develop ESG scores and disclosures.
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    How does geopolitical risk affect clean energy generation? Daily evidence from five highly Russia-reliant European countries
    (Elsevier, 2024) Erdogan, Sinan; Pata, Ugur Korkut; Alola, Andrew Adewale; Kartal, Mustafa Tevfik; Depren, Serpil Kilic
    Europe has recently experienced an energy crisis that began with the war between Russia and Ukraine and continued with reciprocal sanctions and power cuts, increasing geopolitical tensions and risks. In such an environment, European countries must decide how to replace energy imports from Russia. As the best option may be to rely on clean energy, this study explores how geopolitical risk (GPR) affects clean electricity generation (i. e., hydro, solar, wind, & nuclear) in five European countries (i.e., Bulgaria, Czechia, Germany, Romania, and Switzerland), which have a high dependency on Russia. The study therefore uses daily data between January 2, 2019 and January 29, 2024 and applies a set of nonlinear methods (i.e., wavelet coherence, quantile-on-quantile regression, Granger causality in quantiles, and quantile regression). The results show that (i) there is a strong dependence of GPR on renewable and nuclear electricity generation over different times, frequencies, and countries; (ii) GPR stimulates hydro electricity generation at higher quantiles across countries except the Czechia; (iii) GPR increases solar electricity generation at higher quantiles in all countries except the Czechia and Switzerland; (iv) GPR mainly stimulates wind electricity generation at higher quantiles, except for Bulgaria and Switzerland; (v) GPR is almost inefficient in nuclear electricity generation. Overall, the study clearly shows the supportive effect of the GPR in promoting renewables, while this is not the case for nuclear energy. Therefore, European countries can rely on renewables as the best alternative against energy blackouts in the short term, considering the varying effect based on time, frequency, quantile, country, and clean energy sources.
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    Time, frequency, and quantile-based impacts of disaggregated electricity generation on carbon neutrality: evidence from leading European Union countries
    (Taylor & Francis Inc, 2024) Kartal, Mustafa Tevfik; Pata, Ugur Korkut; Depren, Serpil Kilic; Erdogan, Sinan
    Due to increasing geopolitical tensions and disruption of gas supplies, European countries have been looking for alternatives for electricity generation (EG). As part of this process, one of the most important goals for long-term sustainability is to ensure carbon neutrality. Therefore, this study analyzes time, frequency, and quantile-based impacts of EG from different electricity generation sources (i.e., renewable, nuclear, and fossil fuels) on carbon neutrality, focusing on four leading European countries. The study applies the wavelet transform coherence (WC), quantile-on-quantile regression (QQ), and Granger causality in quantiles (GQ) to high-frequency daily data between January 2, 2019 and March 10, 2023. Results show that (i) there is a strong time and frequency dependence between EG and CO2 emissions across countries, while results vary by EG sources and countries; (ii) renewable EG dampens CO2 emissions. At higher quantiles, a higher share of renewable EG lowers CO2 emissions in Germany and Spain, while they increase in France; (iii) nuclear EG is beneficial only for the United Kingdom. (iv) Fossil EG increases CO2 emissions in all countries. Excessive fossil EG leads to more CO2 emissions at higher quantiles; (v) the impacts of EG on CO2 emissions have a time-, frequency, quantile-, country-, and EG source-dependent structure. The outcomes of the study demonstrates that the ideal EG source for countries is mainly renewable EG, while in the case of the United Kingdom, nuclear EG could be an alternative for improving the environment while reducing fossil fuels.