Mehmet Umutlu
mehmet umutlu

Dr Mehmet Umutlu

Associate Professor

  M.Umutlu@napier.ac.uk

  

Biography

Dr. Mehmet Umutlu is an Associate Professor in Finance at the Business School of 麻豆社区 (ENU). He is also the Deputy Research Lead and Research Degree Committee Representative of the Accounting and Finance subject group.

Before joining ENU, he worked as a Professor, Associate Professor, and Assistant Professor in Finance at Yasar University in Turkiye, where he also served as the head of the Department of International Trade and Finance for nine years. He was a Lecturer and Postdoctoral Associate at Lancaster University in the UK. He visited Tilburg University in the Netherlands as a Postdoctoral Fellow. He took on a role at Cankaya University in Turkiye as an Assistant Professor. He has taught in Singapore and France as a lecturer or a visiting lecturer in the past. He is a Fellow of the Higher Education Academy, UK.

Dr. Umutlu earned his PhD degree at Bilkent University in the track of Finance (AACSB accredited); completed the MBA programme at Hacettepe University; and received a BSc degree in Civil Engineering at Middle East Technical University (ABET accredited).

His main research interests fall in the areas of asset pricing, investments, portfolio management, and financial economics. He published several articles in scientific journals, most of which are listed in the CABS journal list and/or indexed by the Web of Science or Scopus. His papers appeared in journals including but not limited to the Journal of Banking and Finance, Financial Analysts Journal, Journal of Empirical Finance, International Review of Financial Analysis, Economics Letters, Research in International Business and Finance, North American Journal of Economics and Finance, Finance Research Letters, Pacific-Basin Finance Journal, Journal of Derivatives, Investment Analysts Journal, World Economy, Applied Economics, and Journal of Asset Management.

So far, he has supervised four PhD dissertations to completion as the director of studies and is currently interested in supervising PhD dissertations in the broad area of investment analysis and portfolio management.

Dr. Umutlu served as a reviewer for several international journals and for international and national research projects. He acted as the principal investigator for a project sponsored by the Scientific and Technological Research Council of Turkiye and as a researcher for another one. He presented and discussed many papers at national and international conferences and also chaired many seminars and conference sessions.

For more information about his research studies, please refer to the following links:
SSRN: https://papers.ssrn.com/sol3/cf_dev/AbsByAuth.cfm?per_id=582348
ResearchGate: https://www.researchgate.net/profile/Mehmet-Umutlu
Google Scholar: https://scholar.google.com/citations?user=KG8uEl0AAAAJ&hl=en&oi=ao

School

Esteem

Advisory panels and expert committees or witness

  • Scientific Committee Member of Modern Finance Conference

 

Fellowships and Awards

  • Fellow of Higher Education Academy, UK

 

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Date


19 results

Interaction Effects in the Cross-Section of Country and Industry Returns

Journal Article
Umar, Z., Zaremba, A., Umutlu, M., & Mercik, A. (2024)
Interaction Effects in the Cross-Section of Country and Industry Returns. Journal of Banking and Finance, 165, Article 107200. https://doi.org/10.1016/j.jbankfin.2024.107200
We comprehensively examine the interaction effects in the cross-sectional predictability of country and industry returns. Using nearly five decades of data from 68 countries, ...

Decomposing the earnings-to-price ratio and the cross-section of international equity-index returns

Journal Article
Umutlu, M., Bengit枚z, P., & Zaremba, A. (2021)
Decomposing the earnings-to-price ratio and the cross-section of international equity-index returns. Applied Economics, 53(54), 6213-6230. https://doi.org/10.1080/00036846.2021.1937499
We examine whether components of the earnings-to-price (EP) ratio can be used to extract incremental information to better estimate future returns in the cross-section of coun...

Return range and the cross-section of expected index returns in international stock markets

Journal Article
Umutlu, M., & Bengit枚z, P. (2021)
Return range and the cross-section of expected index returns in international stock markets. Quantitative Finance and Economics, 5(3), 421-451. https://doi.org/10.3934/qfe.2021019
This study examines the cross-sectional relation between return range and future returns for the first time in literature. We show that the return range can serve as a very pr...

To diversify or not to diversify internationally?

Journal Article
Umutlu, M., & Yarg谋, S. G. (2022)
To diversify or not to diversify internationally?. Finance Research Letters, 44, Article 102110. https://doi.org/10.1016/j.frl.2021.102110
Using alternative measures of return correlations, we show that neither industry nor country correlations exhibit an ever-increasing trend. Instead, correlations jump during r...

Where have the profits gone? Market efficiency and the disappearing equity anomalies in country and industry returns

Journal Article
Zaremba, A., Umutlu, M., & Maydybura, A. (2020)
Where have the profits gone? Market efficiency and the disappearing equity anomalies in country and industry returns. Journal of Banking and Finance, 121, Article 105966. https://doi.org/10.1016/j.jbankfin.2020.105966
We are the first to demonstrate the decline in the cross-sectional predictability of country and industry returns in recent years. We examine 53 anomalies in country and indus...

The cross-section of industry equity returns and global tactical asset allocation across regions and industries

Journal Article
Umutlu, M., & Bengit枚z, P. (2020)
The cross-section of industry equity returns and global tactical asset allocation across regions and industries. International Review of Financial Analysis, 72, Article 101574. https://doi.org/10.1016/j.irfa.2020.101574
This study investigates which index characteristics predict returns in the cross-section of local industry indexes in six regions. The results show that geographical origin an...

Opposites Attract: Combining Alpha Momentum and Alpha Reversal in International Equity Markets

Journal Article
Zaremba, A., Umutlu, M., & Karathanasopoulos, A. (2020)
Opposites Attract: Combining Alpha Momentum and Alpha Reversal in International Equity Markets. Journal of Investing, 29(3), 38-62. https://doi.org/10.3905/joi.2020.1.120
The authors offer a new integrated framework to combine alpha momentum and alpha reversal into a superior investment strategy for international equity markets. Mixing both eff...

Alpha momentum and alpha reversal in country and industry equity indexes

Journal Article
Zaremba, A., Umutlu, M., & Karathanasopoulos, A. (2019)
Alpha momentum and alpha reversal in country and industry equity indexes. Journal of Empirical Finance, 53, 144-161. https://doi.org/10.1016/j.jempfin.2019.07.003
Do past alphas predict future country and industry returns? Examination of equity indexes from 51 stock markets between 1973 and 2018 allows us to demonstrate new return patte...

Does idiosyncratic volatility matter at the global level?

Journal Article
Umutlu, M. (2019)
Does idiosyncratic volatility matter at the global level?. North American Journal of Economics and Finance, 47, 252-268. https://doi.org/10.1016/j.najef.2018.12.015
I test the existence of a time-series relationship between the aggregate idiosyncratic volatility and the market index return at the global level by introducing various global...

Strategies can be expensive too! The value spread and asset allocation in global equity markets

Journal Article
Zaremba, A., & Umutlu, M. (2018)
Strategies can be expensive too! The value spread and asset allocation in global equity markets. Applied Economics, 50(60), 6529-6546. https://doi.org/10.1080/00036846.2018.1489523
Is the value spread useful for forecasting returns on quantitative equity strategies for country selection? To test this, we examine a sample of 120 country-level equity strat...

Current Post Grad projects

Non-Napier PhD or MSc by Research supervisions

  • Supervisor of the PhD Dissertation Titled "International diversification across industries, countries, and regions"
  • Supervisor of the PhD Dissertation entitled "Correlation Structure among Countries or In dustries and Its Implications for International Diversification and Portfolio Management"
  • Supervisor of the PhD Dissertation entitled 鈥淓ssays on Financial Development in Emerging Markets鈥
  • Supervisor of the PhD Dissertation entitled Essays on International Portfolio Investments鈥