Prof. ALİ HEPŞEN


School of Business, Department of Business Administration

Department of Finance


WoS Research Areas: Social Sciences (Soc), Economics & Business, Business Finance


Scopus Research Areas: Business, Management and Accounting (miscellaneous)


Avesis Research Areas: Social Sciences and Humanities, Financial Economics, Management, Finance, Money, Capital and Financial Institutions, Financial Markets and Investment Management

Email: ali.hepsen@istanbul.edu.tr
Other Email: alihepsen@yahoo.com
Mobile Phone: +90 505 677 3594
Office Phone: +90 212 412 2400 Extension: 18321
Web: https://avesis.istanbul.edu.tr/ali.hepsen/
Office: İşletme Fak. Finans Anabilim Dalı
Address: İstanbul Üniversitesi Avcılar Kampüsü İşletme Fakültesi Finans Anabilim Dalı Avcılar-İstanbul/ Türkiye

Metrics

Publication

224

Publication (WoS)

9

Publication (Scopus)

8

Citation (WoS)

84

H-Index (WoS)

6

Citation (Scopus)

81

H-Index (Scopus)

4

Citation (Scholar)

887

H-Index (Scholar)

16

Citation (Sobiad)

164

H-Index (Sobiad)

7

Total Citation Count

248

Project

3

Thesis Advisory

22
UN Sustainable Development Goals

Biography

1978 yılında İzmir’de doğdum. Bornova Anadolu Lisesi’nin ardından 2002’de İstanbul Üniversitesi İşletme Fakültesi İngilizce İşletme Bölümü’nden mezun oldum. 2004’te Finans yüksek lisansımı, 2010’da ise doktoramı tamamladım. 2012’de doçent, 2018’de profesör oldum.

2002’den bu yana İstanbul Üniversitesi İşletme Fakültesi Finans Anabilim Dalı’nda görev yapıyorum. Çalışma alanlarım gayrimenkul finansmanı, değerleme, sermaye piyasaları, mali tablolar analizi, finansal yönetim ve risk yönetimidir.

20 yılı aşkın akademik ve profesyonel deneyimimle; dersler veriyor, araştırmalar yürütüyor ve Dünya Gazetesi’ndeki yazılarımda konut ve finans piyasalarına dair yol gösterici analizler sunuyorum. Ayrıca ulusal ve uluslararası raporlar, yayınlar ve eğitimlerle konut finansmanı ekosistemi, sürdürülebilir yatırım modelleri ve uygun fiyatlı konut politikalarına katkı sağlıyorum.

Amacım, hem akademide hem iş dünyasında yenilikçi, erişilebilir ve sürdürülebilir finansal çözümler üretmek. Evli ve bir çocuk babasıyım.

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I was born in İzmir in 1978 and graduated from Istanbul University, Faculty of Business Administration (English) in 2002. I earned my Master’s degree in Finance in 2004, my Ph.D. in 2010, became an Associate Professor in 2012, and a Full Professor of Finance in 2018.

Since 2002, I have been a faculty member at Istanbul University, Department of Finance. My research and teaching focus on real estate finance, valuation, capital markets, financial statement analysis, corporate finance, and risk management.

With over 20 years of academic and professional experience, I teach, conduct research, and as a columnist for Dünya Newspaper, provide insightful analyses on housing and financial markets in Türkiye and globally. Through reports, publications, and training programs, I contribute to the housing finance ecosystem, sustainable investment models, and affordable housing policies.

My goal is to advance innovative, accessible, and sustainable financial solutions that create lasting value. I am married and a father of one.

Education

2004 - 2010

2004 - 2010

Doctorate

Istanbul University, Sosyal Bilimler Enst., Finans, Turkey

2002 - 2004

2002 - 2004

Postgraduate

Istanbul University, Sosyal Bilimler Enst., Finans, Turkey

1997 - 2002

1997 - 2002

Undergraduate

Istanbul University, İşletme Fak., İngilizce İşletme, Turkey

Dissertations

2010

2010

Doctorate

Gayrimenkul Piyasalarının Finansal Krizler Üzerindeki Olası Etkileri ve Türkiye’de Gayrimenkul Fiyat Endeksinin Oluşturulmasına Yönelik Bir Model Önerisi

Istanbul University, Sosyal Bilimler Enst., Finans

2004

2004

Postgraduate

Bir Finanslama Yöntemi Olarak Menkul Kıymetleştirme: İpoteğe Dayalı Menkul Kıymetleştirme ve Türkiye Uygulaması

Istanbul University, Sosyal Bilimler Enst., Finans

Foreign Languages

C1 Advanced

C1 Advanced

English

Research Areas

Social Sciences and Humanities

Financial Economics

Management

Finance

Money, Capital and Financial Institutions

Financial Markets and Investment Management

Research Areas Based on Academic Activities

Avesis Research Areas

WoS Research Areas

Scopus Research Areas

Academic Positions

2018 - Present

2018 - Present

Professor

Istanbul University, School of Business, Department of Business Administration

2012 - 2018

2012 - 2018

Associate Professor

Istanbul University, School of Business, Department of Business Administration

2010 - 2012

2010 - 2012

Research Assistant PhD

Istanbul University, School of Business, Department of Business Administration

2002 - 2010

2002 - 2010

Research Assistant

Istanbul University, School of Business, Department of Business Administration

Managerial Experience

2023 - Present

2023 - Present

Faculty Board Member

Istanbul University, School of Business, Department of Business Administration

2023 - Present

2023 - Present

Director of The Institution

Istanbul University, School of Business, İşletme İktisadı Enstitüsü

2014 - 2017

2014 - 2017

Board Member

İstanbul Üniversitesi, School of Business

Non Academic Experience

2023 - Present

2023 - Present

Akademik Danışman

Non-profit Organisation, Konut Üreticileri Derneği, Danışman, Akademik Danışman

2023 - 2025

2023 - 2025

Yönetim Kurulu Üyesi

Non-profit Organisation, Gayrimenkul İçin Strateji Platformu, Yönetim Kurulu Üyesi, Yönetim Kurulu Üyesi

2021 - 2025

2021 - 2025

İcra Kurulu Üyesi

Non-profit Organisation, Gayrimenkul Yatırımcıları Derneği, İcra Kurulu Üyesi, İcra Kurulu Üyesi

Supervised Theses

2024

2024

Postgraduate

Covid-19 Pandemi Krizinin Türkiye Sigorta Sektörüne Etkisi

Hepşen A. (Advisor)

M.Kerim(Student) Sustainable Development

2023

2023

Postgraduate

İhracat Finansmanında Türev Ürünler ve Türkiye Uygulaması

Hepşen A. (Advisor)

Ö.Özsoy(Student)

2022

2022

Doctorate

Sigorta Şirketlerinin Finansal Performans Analizi

Hepşen A. (Advisor)

G.Hancı(Student)

2018

2018

Postgraduate

İnternet Bankacılığı: Güney Sudan Cumhuriyeti İçin Öneri

Hepşen A. (Advisor)

A.Sadalla(Student)

Articles

All (46)
SCI-E, SSCI, AHCI (3)
SCI-E, SSCI, AHCI, ESCI (8)
ESCI (5)
Scopus (8)
TRDizin (12)
Other Publications (26)

Papers Presented at Peer-Reviewed Scientific Conferences

2019

2019

1. The Effect of the Mortgage Crisis on the U.S Stock Market Prices: An Empirical on S&P 500 Stock Index Prices

MOHAMED H., KOY A., HEPŞEN A.

23ncü Finans Sempozyumu, Antalya, Turkey, 9 - 12 October 2019, pp.25, (Full Text)

2019

2019

2. Gayrimenkule Dayalı Opsiyon Kontratları ve Türkiye Uygulanabilirliği

HEPŞEN A., KOY A.

İstanbul Teknik Üniversitesi, Gayrimenkul Araştırmaları Ulusal Konferansı, İstanbul, Turkey, 4 - 05 October 2019, pp.25, (Summary Text)

2018

2018

3. CIVETS Ülkelerinin Ekonomik Performanslarının Değerlendirilmesi

GÜRLER C., ÖNDER E., HEPŞEN A., TAŞ N.

1 International Congress on Statistics, Mathematics and Analytical Methods, İstanbul, Turkey, 2 - 03 March 2018, pp.41-42, (Summary Text)

2016

2016

4. Count Data Modeling About Relationship Between Dubai Housing Sales Transactions and Financial Indicators

Aydin O., HAYAT E. A., Hepsen A.

17th Annual Conference on Finance and Accounting, Prague, Czech Republic, 27 May 2016, pp.83-91, (Full Text) identifier

2015

2015

5. Grey Relational Analysis Based Ranking of Latin American and Caribbean Economies

YILDIRIM B. F., HEPŞEN A., ÖNDER E.

The West East Institute Business & Economics Academic Conference, Atına, Greece, 19 - 21 March 2015, pp.19-21, (Full Text)

2014

2014

6. Economic Performance Evaluation Of Fragile 5 Countries After The Great Recession Of 2008-2009 Using Analytic Network Process And TOPSIS Methods

ÖNDER E., TAŞ N., HEPŞEN A.

The Clute Institute International Business & Education Conferences, San Francısco, United States Of America, 3 - 07 August 2014, (Full Text) Sustainable Development

2014

2014

7. Economic Performance Evaluation Of Fragile 5 Countries After The Great Recession Of 2008-2009 Using Analytic Network Process And Topsis Methods

ÖNDER E., TAŞ N., HEPŞEN A.

The Clute Institute International Business & Education Conferences, San Francisco, United States Of America, 3 - 07 August 2014, (Full Text)

2013

2013

8. Combining Time Series Analysis and Multi Criteria Decision Making Techniques for Forecasting Financial Performance of Banks in Turkey

ÖNDER E., HEPŞEN A.

International Conference on Applied Business & Economics (ICABE) - NEW YORK, United States Of America, 1 - 04 October 2013, vol.1, no.1, pp.129, (Full Text)

2013

2013

9. Analyzing Macroeconomic Indicators Of Economic Growth Using Panel Data

TAŞ N., HEPŞEN A., ÖNDER E.

International Conference on Economic and Social Studies (ICESoS` 13): "Economic Crises and European Union", Bosnia And Herzegovina, 1 - 04 June 2013, pp.312-324, (Full Text) Sustainable Development

2013

2013

10. Analyzing Macroeconomic Indicators of Economic Growth Using Panel Data

Taş N., Hepşen A., ÖNDER E.

International Conference on Economic and Social Studies (ICESoS` 13): "Economic Crises and European Union", Bosnia And Herzegovina, 1 - 04 May 2013, pp.1-13, (Full Text) Sustainable Development

2013

2013

11. Forecasting Macroeconomic Variables Using Artificial Neural Network and Traditional Smoothing Techniques

ÖNDER E., Bayır F., Hepşen A.

International Conference on Economic and Social Studies (ICESoS` 13): "Economic Crises and European Union", Bosnia And Herzegovina, 1 - 04 May 2013, pp.98-99, (Full Text)

2012

2012

12. Gayrimenkul Piyasalarının ABD Kredi Krizinin Oluşum Sürecine Etkisi

ERSAN İ., HEPŞEN A.

Gaziantep Üniversitesi, 1nci Uluslararası Muhasebe ve Finans Sempozyumu, Gaziantep, Turkey, 1 - 04 June 2012, pp.1-26, (Full Text)

2010

2010

13. Analyzing the Housing Market Structure in Romania and Turkey under the Global Financial Crises Effect

HEPŞEN A.

International Conference on Management, Economics and Accounting (ICMEA), Alba Iulia, Romania, 1 - 04 December 2010, pp.1-21, (Full Text)

2010

2010

14. Housing Affordability in Turkey: A Calculation Integrating Income Inequality

Aşıcı M., Yılmaz Ö., HEPŞEN A.

Euroasia Business and Economics Society (EBES) 2010 Conference, Turkey, 1 - 04 May 2010, pp.1-17, (Full Text) Sustainable Development

2007

2007

15. İhmal Edilmiş Hisse Senedi Etkisi Anomalisi

Hepşen A., DEMİRCİ E.

11. Ulusal Finans Sempozyumu, Zonguldak, Turkey, 1 - 04 October 2007, pp.338-353, (Full Text)

Books

2025

2025

1. DECENT HOUSING FOR THE POOR IN THE OIC MEMBER COUNTRIES

Hepşen A., Sümer L.

The Organisation of Islamic Cooperation,The Standing Committee for Economic and Commercial Cooperation of the Organization of the Islamic Cooperation (COMCEC), Ankara, 2025

2025

2025

2. Türkiye’de Konutun Finansmanı: Sorunlar ve Çözümler

Hepşen A., Sümer L.

in: Güncel Finans Analizleri: Teorik ve Pratik Yaklaşımlar, Doç. Dr. Naci Yılmaz, Editor, Efe Akademi Yayınları, İstanbul, pp.169-195, 2025

2024

2024

3. Kentsel Dönüşüm Sürecindeki Gayrimenkul Yatırımlarının Finansmanı

Hepşen A.

in: Her Yönüyle Kentsel Dönüşüm, Haldun Ersen, Editor, Kentsel Dönüşüm ve Şehircilik Vakfı (KENTSEV) Yayınları, İstanbul, pp.179-206, 2024

2023

2023

4. Finansal Tablolar Analizi

Hepşen A.

in: Finansal Yönetim, Prof. Dr. Vedat Sarıkovanlık,Prof. Dr. Murat Kıyılar, Editor, Literatür Yayıncılık, İstanbul, pp.43-90, 2023

2021

2021

5. Gelir Yaklaşımı ve Gayrimenkul Proje Yatırımı Değerleme Süreci

Hepşen A.

in: A’dan Z’ye Gayrimenkul Değerlemesi ve Finansı, Yener Coşkun, Editor, Seçkin Yayıncılık, Ankara, pp.249-276, 2021

2017

2017

6. Gayrimenkul Değerleme Esasları ve Finans Boyutu

HEPŞEN A.

Literatür Yayıncılık, İstanbul, 2017

2017

2017

7. Count Data Modeling About Relationship Between Dubai Housing Sales Transactions and Financial Indicators

Aydın O., Aktürk Hayat E., Hepşen A.

in: New Trends in Finance and Accounting, Procházka D., Editor, Springer International Publishing, New-York, pp.83-91, 2017

2011

2011

9. Uluslararası Finans ve Türev Ürünler

HEPŞEN A.

in: Çözümlü Finans Problemleri, Kıyılar M., Editor, Literatür Yayıncılık, İstanbul, pp.139-157, 2011

2010

2010

10. Gayrimenkul Piyasaları ve Finansmanı

HEPŞEN A.

Literatür Yayıncılık, İstanbul, 2010

Episodes in the Encyclopedia

2021

2021

1. Sosyal Bilimler Ansiklopedisi

Hepşen A.

TÜBITAK Yayınları, pp.393, 2021

Other Publications

Peer Reviews in Scientific Publications

November 2025

November 2025

ISTANBUL JOURNAL OF ECONOMICS

Journal Indexed in ESCI

October 2025

October 2025

INTERNATIONAL JOURNAL OF HOUSING MARKETS AND ANALYSIS

National Scientific Refreed Journal

September 2025

September 2025

TESAM AKADEMİ

National Scientific Refreed Journal

May 2025

May 2025

INTERNATIONAL JOURNAL OF HOUSING MARKETS AND ANALYSIS

Journal Indexed in ESCI

April 2025

April 2025

Muhasebe Bilim Dünyası Dergisi

National Scientific Refreed Journal

March 2025

March 2025

INTERNATIONAL JOURNAL OF STRATEGIC PROPERTY MANAGEMENT

Journal Indexed in SSCI

December 2024

December 2024

Doğuş Üniversitesi Dergisi

National Scientific Refreed Journal

September 2024

September 2024

Doğuş Üniversitesi Dergisi

National Scientific Refreed Journal

June 2024

June 2024

Doğuş Üniversitesi Dergisi

National Scientific Refreed Journal

April 2024

April 2024

Doğuş Üniversitesi Dergisi

National Scientific Refreed Journal

December 2023

December 2023

INTERNATIONAL JOURNAL OF HOUSING MARKETS AND ANALYSIS

Journal Indexed in ESCI

September 2023

September 2023

Doğuş Üniversitesi Dergisi

National Scientific Refreed Journal

June 2023

June 2023

ISTANBUL BUSINESS RESEARCH

Journal Indexed in ESCI

October 2022

October 2022

INTERNATIONAL JOURNAL OF HOUSING MARKETS AND ANALYSIS

Journal Indexed in ESCI

October 2022

October 2022

ISTANBUL BUSINESS RESEARCH

Journal Indexed in ESCI

February 2022

February 2022

INTERNATIONAL JOURNAL OF ISLAMIC AND MIDDLE EASTERN FINANCE AND MANAGEMENT

Journal Indexed in SSCI

January 2022

January 2022

EKEV Akademi Dergisi

National Scientific Refreed Journal

September 2021

September 2021

INTERNATIONAL JOURNAL OF STRATEGIC PROPERTY MANAGEMENT

Journal Indexed in SSCI

July 2021

July 2021

INTERNATIONAL JOURNAL OF HOUSING MARKETS AND ANALYSIS

Journal Indexed in ESCI

December 2020

December 2020

INTERNATIONAL JOURNAL OF HOUSING MARKETS AND ANALYSIS

Journal Indexed in ESCI

December 2020

December 2020

INTERNATIONAL JOURNAL OF HOUSING MARKETS AND ANALYSIS

Journal Indexed in ESCI

November 2020

November 2020

INTERNATIONAL JOURNAL OF FINANCE & ECONOMICS

Journal Indexed in SSCI

October 2020

October 2020

IBAD Sosyal Bilimler Dergisi

Other Journals

June 2020

June 2020

Bankacılık ve Sermaye Piyasası Araştırmaları Dergisi

Other Journals

May 2020

May 2020

Van Yüzüncü Yıl Üniversitesi Sosyal Bilimler Enstitüsü Dergisi

Other Journals

September 2019

September 2019

İstanbul Üniversitesi İşletme Fakültesi İşletme İktisadı Enstitüsü Yönetim Dergisi

Other Journals

September 2019

September 2019

FİNANS POLİTİK VE EKONOMİK YORUMLAR DERGİSİ

National Scientific Refreed Journal

August 2019

August 2019

FİNANS POLİTİK VE EKONOMİK YORUMLAR DERGİSİ

National Scientific Refreed Journal

July 2019

July 2019

Kastamonu Üniversitesi İktisadi ve İdari Bilimler Fakültesi Dergisi

Other Journals

June 2019

June 2019

Mehmet Akif Ersoy Üniversitesi İktisadi ve İdari Bilimler Fakültesi Dergisi

Other Journals

June 2019

June 2019

International Journal of Housing Markets and Analysis

Other Indexed Journal

May 2019

May 2019

SELÇUK ÜNİVERSİTESİ SOSYAL BİLİMLER MESLEK YÜKSEKOKULU DERGİSİ

National Scientific Refreed Journal

January 2019

January 2019

International Journal of Strategic Property Management

Journal Indexed in SSCI

June 2018

June 2018

İstanbul Üniversitesi İşletme Fakültesi Dergisi

National Scientific Refreed Journal

June 2017

June 2017

International Journal of Strategic Property Management

Journal Indexed in SSCI

June 2016

June 2016

Journal of Business, Economics and Finance

Other Indexed Journal

June 2015

June 2015

Journal of Business, Economics and Finance

Other Indexed Journal

December 2013

December 2013

International Journal of Strategic Property Management

National Scientific Refreed Journal

May 2013

May 2013

İstanbul Üniversitesi İşletme İktisadi Enstitüsü Yönetim Dergisi

National Scientific Refreed Journal

May 2013

May 2013

İstanbul Üniversitesi İşletme İktisadi Enstitüsü Yönetim Dergisi

National Scientific Refreed Journal

May 2013

May 2013

İstanbul Üniversitesi İşletme Fakültesi Dergisi

National Scientific Refreed Journal

February 2013

February 2013

Doğuş Üniversitesi Dergisi

National Scientific Refreed Journal

January 2013

January 2013

Doğuş Üniversitesi Dergisi

National Scientific Refreed Journal

December 2012

December 2012

Bankacılar

National Scientific Refreed Journal

April 2012

April 2012

Bankacılar

National Scientific Refreed Journal

January 2012

January 2012

International Journal of Strategic Property Management

Journal Indexed in SSCI

January 2011

January 2011

International Journal of Strategic Property Management

Journal Indexed in SSCI

Scientific Consultations

2025 - Present

2025 - Present

Project Consultancy

İstanbul Kalkınma Ajansı ve İstanbul Finans ve Teknoloji Üssü A.Ş.

Istanbul University, School Of Business, Department Of Business Administration, Turkey

Awards

August 2014

August 2014

Konferans En İyi Bildiri Ödülü

The Clute Institute International Business Conference

March 2014

March 2014

Finans Alanı En İyi Bildiri Ödülü

Academy Of International Business U.S. Southwest Chapter



Citations

Total Citations (WOS): 84

h-index (WOS): 6