Afşin Şahin

Equity Market Dependence and Hedging Effectiveness Across China, Türkiye, and the United States: Evidence from Market–Clock Alignment, Currency Denomination, and Geopolitical Event Windows

This study examines whether correlation dynamics among the CSI 300, BIST 100, and S&P 500 improve hedging performance under alternative currency denominations and market–clock alignments, including during the geopolitical event window beginning on 28 February 2026. Market-specific GARCH models and CCC, DCC, and asymmet...