Akademik Veri Yönetim Sistemi
RISK MANAGEMENT, STRATEGIC THINKING AND LEADERSHIP IN THE FINANCIAL SERVICES INDUSTRY: A PROACTIVE APPROACH TO STRATEGIC THINKING, ss.177-190, 2017 (SSCI)
EVT works on extreme affairs and those affairs are generally classified as outliers. Although in some analyses it is preferred to exclude extreme events, oppositely EVT directly focuses on extreme events and analyze them. Financial data also contain outliers due to crashes, breaks and peaks. Since extremal events are more commonly seen in financial data than many other data types and excluding of those results in under or overestimation, academicians and financial institutions utilize EVT especially in risk management as a contributing function to Value-atRisk. Additionally, distribution characteristics of financial data which do not fit normal distribution are other major points to use EVT. The finance literature on EVT indicates the EVT does the best especially in fat-tail modeling and extremal event analysis.