Hasan Baklaci Ph.D.


Ph.D., University of Texas at Arlington, 2003
MBA, University of Central Florida, 1994
B.Sc. in Management, Middle East Technical University, 1991


Prof. Baklaci has taught several finance-related courses, including financial management, international finance, investment analysis, risk management and behavioral finance (at undergraduate and graduate levels). He also taught Financial Planning and Capital Budgeting courses in Executive MBA program. He has more than 30 publications in various journals and conference proceedings.

One of his work entitled “Performance comparison of Islamic banks and commercial banks in Turkish banking sector” has been selected as “Highly Recommended Paper” in 2014 by the publisher of the journal and has received the award of “2015 Emerald Literati Network Awards for Excellence.

Dr. Baklaci has also served as referee and guest editor in various journals, including International Review of Economics and Finance and Journal of Behavioral Finance.

In addition to his scholarly activities, he has also been involved in professional activities. As such, he acted as the coordinator of AASCB Accreditation process in Faculty of Business between 2015 and 2017 during his Deanship at Izmir University of Economics, Turkey.

He also served as the Project Manager in “Business Education for Sustainability: Teaching Corporate Social Responsibility and Social Entrepreneurship for Sustainable Local and Regional Development” which is an EU supported educational project conducted under the collaboration of seven partner institutions from Europe.

Research interests

His main research interest areas are “Asset Pricing and Volatility Spillovers among various financial instruments and markets, and “Behavioral Finance, particularly focusing on Investor Attitude and Its Impact on Stock markets. To this end, he published his research on various SSCI indexed journals including Finance Research Letters, Applied Economics Letters, and Singapore Economic Review.

Courses Taught

  • Business Finance
  • International Financial Management
  • Financial Risk Management
  • Introduction to Behavioral Finance
  • International Trade and Investment
  • Quantitative Methods in Finance
  • Investment Analysis and Portfolio Management
  • Special Topics in Finance
  • Theory of Finance (Ph.D.)
  • Empirical Research in Finance (Ph.D)
  • Research Seminar in Finance (Ph.D.)
  • Finance for Executives (Executive MBA)
  • Financial Planning (Executive MBA)
  • Capital Budgeting (Executive MBA)
  • Advanced Corporate Finance

Selected Publication

Baklaci Hasan F, Suer, Omur. and Yelkenci, Tezer “A closer insight into the causality between short selling trades and volatility”, Finance Research Letters , (SSCI Indexed), Vol:17, May 2016.

Baklaci, Hasan F, Olgun, Onur and Can, Emre, “Noise Traders: The Phantom of Stock Markets”, Applied Economic Letters, (SSCI Indexed), Vol: 18 (11), pp.1035-1041, 2011.

Baklaci Hasan F, Suer, Omur. and Yelkenci, Tezer, “Volatility Linkages Between Gold Futures in Emerging Markets”, Emerging Market Finance and Trade, (SSCI Indexed) ,Vol:53 (1), 2016.

Baklaci, Hasan F, Aydogan,B., Tunc,G., and Vardar,G., “The Impact of Firm-Specific Public News on Intraday Market Dynamics: Evidence from the Turkish Stock Market”, Emerging Market Finance and Trade, (SSCI Indexed), Vol:47 (6), pp.99-119. December 2011.

Baklaci, Hasan F., Erol, C. and Vardar, Gulin, “The Impact Of Changes In Ownership Structure After 2001 Crisis on Bank Performance in Turkish Banking Sector”, Actual Problems of Economics, (SSCI Indexed), Vol: 10 (136), pp. 418-428, 2012.

Baklaci, Hasan F., Verma, Raul and Soydemir, Gökçe, “The Impact of Rational and Irrational Sentiments of Individual and Institutional Investors on DJIA and S&P500 Index Returns”, Applied Financial Economics, Vol:18 (16), pp. 1303-1317, September 2008.

Baklaci Hasan F., Suer, Omur. and Yelkenci, Tezer, “A contemporary enquiry into the intraday causality between short selling trades and volatility”, Empirical Economics Letters, Vol:15 (1), January 2016.

Baklaci Hasan F., Erol, Cengiz, Aydoğan, Berna and Tunç, Gökçe. “Performance comparison of Islamic (participation) banks and commercial banks in Turkish banking sector”, EuroMed Journal of Business, Vol: 9 (2), 2014.