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The Relationship among Oil Prices, Oil Consumption and Financial Development

 
Article Information
Journal: Business and Economics Research Journal
Title of Article: The Relationship among Oil Prices, Oil Consumption and Financial Development
Author(s): Hasim Bagci
Volume: 10
Number: 3(Special Issue)
Year: 2019
Page: 597-616
ISSN: 2619-9491
DOI Number: 10.20409/berj.2019.188
Abstract
Oil is an energy source having no alternative and always demanded. Since this is the case, how oil consumer countries are affected by price changes and their financial situations are one of the questions waiting for an answer. In this study, the relationship between oil prices, oil consumption and financial development, has been explored. In the study, OECD countries have been analyzed and yearly data between 1980-2015 has been used. The aim of the study is to designate the effect of oil prices and oil consumption over financial development. In the study, 17 OECD countries have been analyzed and the method of panel data analysis has been used. All steps of panel data analysis have been applied and since no cointegration relationship was detected, the analysis was sustained by using panel VAR analysis. Other sub-analysis belonging to panel VAR analysis like Granger causality analysis, variance decomposition and impulse-response functions have been used to complete the analysis. At the end of the analysis, one-way causality relationships have been detected from oil consumption to financial development and from oil prices to oil consumption. As a result of these findings, as there is a meaningful relationship; it has been shown by impulse-response functions that the upside in oil consumption increases financial development level and the upside in oil prices decreases oil consumption. All these findings supported the studies in the literature.

Keywords: Oil Prices, Oil Consumption, Financial Development, Panel VAR Analysis and Granger Causality Analysis

JEL Classification: B26, F65, O13, Q42

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Energy Consumption and Economic Growth: Econometric Analysis for NIC Countries

 
Article Information
Journal: Business and Economics Research Journal
Title of Article: Energy Consumption and Economic Growth: Econometric Analysis for NIC Countries
Author(s): Fatma Kizilkaya, Mehmet Dag
Volume: 10
Number: 3(Special Issue)
Year: 2019
Page: 587-596
ISSN: 2619-9491
DOI Number: 10.20409/berj.2019.187
Abstract
Energy is considered a necessary and important input for social and economic development. Growth and energy consumption can cause each other. In this study, the causality relationship between energy consumption and growth in Newly Industrialized Countries (NIC) is analysed using annual data from the period 1971-2014. In this study, firstly the cross-sectional dependence of the series is investigated. The findings show that there is cross-sectional dependence in the series. Then the causality relationship between the series is examined using bootstrap causality test developed by Konya (2006). The results show that the neutrality hypothesis is valid for Brazil, Indonesia, India, Mexico, Malaysia, Thailand, Turkey and South Africa, and the growth hypothesis is valid for China and Philippines.

Keywords: Growth Hypothesis, Neutrality Hypothesis, Energy Consumption, Growth, Bootstrap Causality

JEL Classification: O40, C33, Q40

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Moderator Role of Competitive Intensity in the Effect of Process Management on Product Innovation Performance

 
Article Information
Journal: Business and Economics Research Journal
Title of Article: Moderator Role of Competitive Intensity in the Effect of Process Management on Product Innovation Performance
Author(s): Bulent Yildiz, Behzat Sayin
Volume: 10
Number: 2
Year: 2019
Page: 575-586
ISSN: 2619-9491
DOI Number: 10.20409/berj.2019.186
Abstract
Due to the intense competition conditions experienced in the textile sector, companies need to give maximum importance to process management and product innovation in order to increase their competitiveness. In this study, the regulatory role of competitive intensity in the impact of process management on product innovation performance was investigated. For this purpose, data were collected from 124 manufacturing companies operating in textile sector in Istanbul. The data were analyzed by structural equation model. As a result of the analyzes, it was found that process management and competition intensity had a positive effect on product innovation performance. As a result of regulatory impact analysis, the effect of competitive intensity on the effect of process management on product innovation performance was obtained.

Keywords: Process Management, Product Innovation, Competitive Density

JEL Classification: M10, M11

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A Research on City Branding Activities: The Case of Karşıyaka/İzmir

 
Article Information
Journal: Business and Economics Research Journal
Title of Article: A Research on City Branding Activities: The Case of Karşıyaka/İzmir
Author(s): Berkay Ozkaya, Elif Deniz
Volume: 10
Number: 2
Year: 2019
Page: 557-574
ISSN: 2619-9491
DOI Number: 10.20409/berj.2019.185
Abstract
The aim of this study is to investigate how branding activities of Karşıyaka County of İzmir, Turkey are shaped in terms of social, cultural and economic characteristics; to make assessments about the county and to offer suggestions for urban branding efforts. In this study in which case study was implemented data was collected through face-to-face interviews conducted with participants selected by judgment sampling technique. The current status, structure in terms of brand components, current branding strategies and branding process of Karşıyaka County were analyzed in light of branding efforts and strategies. According to the results, Karşıyaka is in the process or being a branded city. However, the process needs to be integrated into the branded house model, to reveal Karşıyaka’s potential success on the fields of culture, art and sports. It is believed that branding activities should be carried out by a holistic and institutional committee established under the umbrella of Karşıyaka Municipality bringing all NGOs and the related economic, cultural and social actors together.

Keywords: Branding, Brand Components, City Branding, Branding Strategies, Karşıyaka

JEL Classification: M31, R11

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The Effect of Message Valence on e-WoM Spread: A Moderated Mediation Analysis

 
Article Information
Journal: Business and Economics Research Journal
Title of Article: The Effect of Message Valence on e-WoM Spread:
A Moderated Mediation Analysis
Author(s): Edin Guclu Sozer
Volume: 10
Number: 2
Year: 2019
Page: 541-555
ISSN: 2619-9491
DOI Number: 10.20409/berj.2019.184
Abstract
This study aims to examine the effect of e-WoM message on the intention level of consumers to spread the word to other consumers in the presence of a moderated mediation interaction effect between risk perception and uncertainty avoidance levels of consumers. An experimental design was implemented, and the manipulated experimental condition was e-WoM message represented in two levels, negative and positive. The results indicate that, compared to negative ones, positive e-WoM messages lead to higher intention to share the message with other consumers. However, in the presence of perceived risk, the positive direct effect of positive messages turns into a negative indirect effect when perceived risk mediates this relationship. Moreover, this negative indirect effect stabilizes with the uncertainty avoidance moderated relationship between e-WoM message and perceived risk. In the light of these findings, a two levels e-WoM communication strategy was proposed to maximize the benefits of positive customer feedbacks: Construction of a strong pool of positive e-WoM messages generated by existing satisfied customers and the use of negative framing in the marketing communication messages targeted to prospect customers.

Keywords: e-WoM, Message Valence, Perceived Risk, Uncertainty Avoidance

JEL Classification: M30, M31, M37

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Development of the Hedonic and Utilitarian Consumption Behavior Scale: Reliability and Validity Study

 
Article Information
Journal: Business and Economics Research Journal
Title of Article: Development of the Hedonic and Utilitarian Consumption Behavior Scale: Reliability and Validity Study
Author(s): Taha Coskun, Mehmet Marangoz
Volume: 10
Number: 2
Year: 2019
Page: 517-539
ISSN: 2619-9491
DOI Number: 10.20409/berj.2019.183
Abstract
The aim of this study is to develop a scale to determine the hedonic and utilitarian consumption behavior of consumers. The scope validity of the scale was realized by scanning the literature, analysing qualitative data and referring expert opinions. The construct validity of the scale was determined by exploratory (AFA) and confirmatory (CFA) factor analysis applied to two separate data sets. As a result of AFA for hedonic consumption behavior; a five-factor structure as Hedonic Impact, Hedonic Adaptation, Impulsive Tendency, Passivity Status and Identity Reflection. A two-factor structure is described as Target Oriented and Control Oriented for utilitarian consumption behavior. The reliability of the structures confirmed by CFA was determined by Cronbach alpha’s internal consistency coefficients and item total correlations. The relationships between the factors were demonstrated through Pearson’s coefficient. As a result of the findings obtained from this study, a valid and reliable measurement tool that can be used in determining hedonic and utilitarian behaviors of consumers has been introduced.

Keywords: Hedonism, Consumption, Hedonic Consumption, Utilitarian Consumption, Consumption Culture, Consumer Motivations

JEL Classification: E20, E21, M31, D90

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Russian Consumers’ Responses to Turkish Products: Exploring the Roles of Country Image, Consumer Ethnocentrism, and Animosity

 
Article Information
Journal: Business and Economics Research Journal
Title of Article: Russian Consumers’ Responses to Turkish Products: Exploring the Roles of Country Image, Consumer Ethnocentrism, and Animosity
Author(s): Inci Dursun, Ebru Tumer Kabadayi, Kutalmıs Emre Ceylan, Cansu Gokmen Koksal
Volume: 10
Number: 2
Year: 2019
Page: 499-515
ISSN: 2619-9491
DOI Number: 10.20409/berj.2019.182
Abstract
The main objective of this study is to investigate the country of origin (COO) effect on purchase decisions for Turkish products in foreign markets. Particularly, the study focused on the impacts of country image, consumer ethnocentrism, and animosity on product evaluation, risk perception and buying intention of Russian consumers. The data was collected through a survey conducted on a sample consisting of 346 native Russian consumers living in Moscow. Analysis results revealed that origin related factors (i.e. country image, consumer ethnocentrism, and animosity) do not directly influence purchase intention for Turkish products. Animosity was found to increase the perceived risk of buying Turkish products, to some extent, while expected negative impacts of ethnocentrism were not confirmed. Most importantly, findings revealed a strong link between country image and product evaluation. Results were discussed in detail and the article concludes with implication of the findings.

Keywords: Country of Origin (COO), Country Image, Ethnocentrism, Animosity, Turkish Products

JEL Classification: M16, M31, M39

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A Research on Gender Based Differences in Perceived Organizational Stress and Stress Sources

 
Article Information
Journal: Business and Economics Research Journal
Title of Article: A Research on Gender Based Differences in Perceived Organizational Stress and Stress Sources
Author(s): Kurtulus Kaymaz
Volume: 10
Number: 2
Year: 2019
Page: 483-497
ISSN: 2619-9491
DOI Number: 10.20409/berj.2019.181
Abstract
The research is aimed to investigate if the perceived organizational stress and stress sources differ according to gender. For this purpose, the demand-control-social support model was used and data were collected via face to face survey around three sub-dimensions (workload, decision, and social support). The study is conducted on totally 2467 employees and 1922 employees were responsive. The first main finding of this study is that the important part of the employees were working in “high job stress” region. Another finding in the research shows that there is a significant difference between male and female employees from the point of workload and decision (autonomy). Conversely, it is found that gender of the employees does not form a significant difference for social support dimension. From the perspective of stress sources, the findings indicate that negative circumstances in pay and social rights, managers’ attitudes and behaviors and physical working conditions are main stress sources for both males and females. Especially, results proved that females affected more negatively from the stress sources like physical working conditions, workload, occupational health and safety, working breaks and annual leave than males.

Keywords: Organizational Stress, Work Load, Decision Making, Organizational Support, Stress Sources

JEL Classification: J24, J28, M14, M54, O15

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The Effect of Burnout in Health Sector Employees on the Turnover Intention: The Mediation Role of Person-Organization Fit

 
Article Information
Journal: Business and Economics Research Journal
Title of Article: The Effect of Burnout in Health Sector Employees on the Turnover Intention: The Mediation Role of Person-Organization Fit
Author(s): Abdullah Caliskan, Nazmiye Ulku Pekkan
Volume: 10
Number: 2
Year: 2019
Page: 469-481
ISSN: 2619-9491
DOI Number: 10.20409/berj.2019.180
Abstract
The aim of this study is to determine the effect of burnout on the turnover intention by taking the basis of the Social Exchange Theory (Blau, 1964) and Person-Organization Fit Theory (Tom, 1971) and whether person-organization fit has a mediating role in this effect. In this direction, the population of this study is composed of the employees of the organizations in health sector in Mersin region. With the data collected by survey forms from 526 physicians, nurses and other health sector workers, the relationships between the variables included in this study were tried to be determined by correlation and regression analysis. As a result of the study, it was determined that the health sector workers have a sense of burnout and that the three sub-dimensions of burnout (emotional exhaustion, depersonalization, personal success reduction) have positive and statistically significant relationship with the turnover intention. According to the other aim of the study, it was determined that the person-organization fit has a partial mediating effect in the relationship between burnout and turnover intention. According to these results, it is stated that increasing the level of burnout of individuals increases the turnover intention and that the person-organization fit has a triggering effect on this relationship. The results of the study were evaluated and recommendations were made to future practitioners and researchers.

Keywords: Burnout, Person-Organization Fit, Turnover Intention, Mediating Effect

JEL Classification: M10, M19

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The Relationship between Intellectual Capital Elements and Management of these Elements: Example of B-fit Businesses

 
Article Information
Journal: Business and Economics Research Journal
Title of Article: The Relationship between Intellectual Capital Elements and Management of these Elements: Example of B-fit Businesses
Author(s): Yeter Aytul Dagli Ekmekci
Volume: 10
Number: 2
Year: 2019
Page: 451-468
ISSN: 2619-9491
DOI Number: 10.20409/berj.2019.179
Abstract
In today’s knowledge economy, the intellectual capital, which doesn’t appear in the financial statements, but comes to the forefront in creating value, has gained importance. The prospect of intellectual capital should be taken into account in sport sector, which has a very large prevalence in the country’s economies. However, there are few studies on intellectual capital management in the field of sports at Turkish literature and this study is a preliminary work especially oriented towards the relationship between intellectual capital elements. The aim of the study is to emphasize the importance of intangible assets which increase the market value and to reveal how the managers of sport service businesses are evaluating the elements structural capital, consumer capital and human capital. B-fit enterprises with 200 businesses in 50 different cities are considered. It is also evaluated the ideas of business managers about information sharing. The data were collected by survey and document analyzing method and analyzed with statistical data analysis method. As a result, it was seen that there was a moderately significant relationship between the intellectual capital factors.

Keywords: Intellectual Capital, Knowledge Management, Market Value, Sports Businesses, Sports Financing

JEL Classification: M12, O34, Z20

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