Manuscript – Page 58 – BUSINESS AND ECONOMICS RESEARCH JOURNAL

Category: Manuscript

Strengths and Weaknesses of Financing Hospitals in Germany

Posted on Tuesday November 4th, 2014 by admin

Makale Bilgileri

Dergi:	Business and Economics Research Journal
Makalenin Başlığı:	Strengths and Weaknesses of Financing Hospitals in Germany
Yazar(lar):	Kemal Yaman
Cilt:	5
Sayı:	4
Yıl:	2014
Sayfa:	1-17
ISSN:	1309-2448

Özet

In this study strengths and weaknesses of financing hospitals in the German health care sector are examined. In the first part of the paper key data of hospitals, subsidies granted by federal states to hospitals, allocation of expenses in the statutory and private health sector are examined. Moreover, in the same part precautions taken in the German health care industry are analyzed. In the second part of the study compensation system, in particular Diagnosis Related Groups, as a financial resource for the activities performed in hospitals are investigated. For comparison the system before 2003 is also considered. In the third part critical view of the dual system in Germany is discussed. Change in financing of hospitals from 2003 shows improvement in financial situation of these institutions in Germany. However, the new implemented dual system reveals deficits in investment expenditures supported by federal states. The monistic model proposed by Rürup for a financing system from a single resource may provide a better financial base for well-equipped hospitals to meet the challenges among the competitive German hospitals.

Anahtar Kelimeler:

Financing of hospitals, dual financing principle, diagnosis related groups, investment shortfalls, monistic financing principle

JEL Sınıflandırması:

I11, I13, G22, G28

Full Text ( ↓ 4811)

The Role of Corporate Communication and Perception of Justice during Organizational Change Process

Posted on Sunday November 2nd, 2014 by

Article Information

Journal:	Business and Economics Research Journal
Title of Article:	The Role of Corporate Communication and Perception of Justice during Organizational Change Process
Author(s):	Neşe Saruhan
Volume:	5
Number:	4
Year:	2014
Page:	143-166
ISSN:	1309-2448

Abstract

Today, researchers have been exploring employee’s resistance to change and how to foresee these aversive behaviors during organizational change process (Armenakis & Harris, 2002, Dent & Goldberg, 1999, Oreg & Sverdlik, 2011). Some employees view organizational change in a negative way even if change efforts will results in favorable consequences for them. At this point, communication process has a crucial effect on the perception of employees towards change process. In addition, several studies confirm the role of perceived justice in the organization during organizational change. So, the effects of communication and perception of justice on behaviors of employees during change process and the contribution of communication on resistance to change through perception of organizational justice was explored. The research was conducted among 583 employees in Turkey. The results of the regression analysis showed that perception of organizational justice plays a mediating role between communication to resistance and change.

Keywords:

Change, resistance to change, perception of justice, communication

JEL Classification:

M10, M12

Full Text ( ↓ 3249)

the Role of Corporate Communication and Perception of Justice during Organizational Change Process

Posted on Sunday November 2nd, 2014Tuesday November 4th, 2014 by

Makale Bilgileri

Dergi:	Business and Economics Research Journal
Makalenin Başlığı:	The Role of Corporate Communication and Perception of Justice during Organizational Change Process
Yazar(lar):	Neşe Saruhan
Cilt:	5
Sayı:	4
Yıl:	2014
Sayfa:	143-166
ISSN:	1309-2448

Özet

Anahtar Kelimeler:

Change, resistance to change, perception of justice, communication

JEL Sınıflandırması:

M10, M12

Full Text ( ↓ 3249)

An Investigation on the Relationship Between Credit Volume and Current Account Deficit in Turkey

Posted on Sunday November 2nd, 2014 by

Article Information

Journal:	Business and Economics Research Journal
Title of Article:	An Investigation on the Relationship Between Credit Volume and Current Account Deficit in Turkey
Author(s):	Aydanur Gacener Atış, Fatih Saygılı
Volume:	5
Number:	4
Year:	2014
Page:	129-141
ISSN:	1309-2448

Abstract

Following the 2008 global financial crisis, Turkey’s current account deficit has deteriorated due to a rapid growth of total credit volume and the appreciation of domestic currency. In 2010, the Central Bank of Turkey implemented a new monetary policy to improve domestic financial stability. The new policy was designed to maintain a sustainable current account deficit by reducing total domestic credit volume. The aim of this paper is to explore the impact of the domestic credit volume on Turkey’s current account deficit. The relationship between the credit growth and current account is analyzed by using quarterly data over the period 1998:1-2013:1. An econometric VECM technique and Granger Causality tests are used to analyze and to detect the long-run relationship between variables. Our findings indicate that the total credit growth has a limited but an adverse effect on the current account deficit.

Keywords:

Current account deficit, credit volume, cointegration, granger causality, vector error correction mechanism

JEL Classification:

E42, E51, F32

Full Text ( ↓ 2807)

Türkiye’de Kredi Hacmi ve Cari Açık İlişkisi Üzerine Bir İnceleme

Posted on Sunday November 2nd, 2014 by

Makale Bilgileri

Dergi:	Business and Economics Research Journal
Makalenin Başlığı:	Türkiye’de Kredi Hacmi ve Cari Açık İlişkisi Üzerine Bir İnceleme
Yazar(lar):	Aydanur Gacener Atış, Fatih Saygılı
Cilt:	5
Sayı:	4
Yıl:	2014
Sayfa:	129-141
ISSN:	1309-2448

Özet

2008 küresel krizinden sonra Türkiye Cumhuriyet Merkez Bankası, 2010 yılında kredilerin hızlı büyümesi ve Türk Lirası’nın aşırı değer kazanması nedeniyle, cari dengenin bozulma eğilimine girmesi üzerine makro finansal risklerin azaltılması konusuna odaklanmıştır. Bu amaçla yeni bir para politikası uygulanmaya başlanmıştır. Söz konusu uygulama kredi genişlemesini yavaşlatarak, cari açığın sürdürülebilirliğinin sağlanmasına yöneliktir. Bu politika değişikliğinden yola çıkarak, çalışmada, 2001 yılından sonra Türkiye’nin en önemli ekonomik sorunlarından biri olan cari açığın, kredi hacmindeki artıştan ne şekilde etkilendiği saptanmaya çalışılmıştır. Bu kapsamda 1998:1-2013:1 dönemi üç aylık verileri yardımıyla cari açık ve toplam kredi büyüklüğü değişkenleri arasındaki uzun dönemli ilişkiler Vektör hata düzeltme modeli ile analiz edilmiş; ayrıca değişkenler arasındaki nedensellik ilişkileri belirlenmiştir. Bulgularımız, kredi hacmindeki artışın, cari açığı artırdığını; ancak sınırlı bir etkisinin olduğunu ortaya koymaktadır.

Anahtar Kelimeler:

Cari açık, kredi hacmi, eşbütünleşme, nedensellik, hata düzeltme mekanizması

JEL Sınıflandırması:

E42, E51, F32

Full Text ( ↓ 2807)

Causality Relationship between Export and Economic Growth in Turkish Economy

Posted on Sunday November 2nd, 2014 by

Article Information

Journal:	Business and Economics Research Journal
Title of Article:	Causality Relationship between Export and Economic Growth in Turkish Economy
Author(s):	Suna Korkmaz
Volume:	5
Number:	4
Year:	2014
Page:	119-128
ISSN:	1309-2448

Abstract

Every country is known to be more or less in commercial affairs with the outside world. Trade between countries influences the level of development in open economies. This study aims to search whether there has been a causality relationship between total export and economic growth variables of Turkey recently. The quarterly data of 1998:01-2013:03 were used as the period examined. In the analysis made for Turkey, unidirectional causality was seen from export to growth. Results which are supporting the hypothesis of export-led growth have emerged in accordance with literature.

Keywords:

Export, economic growth, Granger causality test

JEL Classification:

C22, F14, F43

Full Text ( ↓ 2994)

Türkiye Ekonomisinde İhracat ve Ekonomik Büyüme Arasındaki Nedensellik İlişkisi

Posted on Sunday November 2nd, 2014 by

Makale Bilgileri

Dergi:	Business and Economics Research Journal
Makalenin Başlığı:	Türkiye Ekonomisinde İhracat ve Ekonomik Büyüme Arasındaki Nedensellik İlişkisi
Yazar(lar):	Suna Korkmaz
Cilt:	5
Sayı:	4
Yıl:	2014
Sayfa:	119-128
ISSN:	1309-2448

Özet

Her ülkenin az ya da çok dış dünya ile ticari anlamda ilişki içinde olduğu bilinmektedir. Açık ekonomilerde ülkeler arasındaki ticaret, ülkelerin gelişmişlik düzeyini etkilemektedir. Bu çalışmada amaç Türkiye’nin yakın geçmişte toplam ihracat ve ekonomik büyüme değişkenleri arasında bir nedensellik ilişkisi olup olmadığını araştırmaktır. İncelenen dönem olarak 1998:01-2013:03 ait çeyrek yıllık veriler kullanılmıştır. Türkiye için yapılan analizde ihracattan büyümeye doğru tek yönlü nedenselliğe rastlanmıştır. Literatür ile uygun olarak ihracata dayalı büyüme hipotezini destekler nitelikte sonuçlar ortaya çıkmıştır.

Anahtar Kelimeler:

İhracat, ekonomik büyüme, Granger nedensellik testi

JEL Sınıflandırması:

C22, F14, F43

Full Text ( ↓ 2994)

The Impact of Central Bank Interest Rate Releases on Financial Markets

Posted on Sunday November 2nd, 2014 by

Article Information

Journal:	Business and Economics Research Journal
Title of Article:	The Impact of Central Bank Interest Rate Releases on Financial Markets
Author(s):	Neilan Soylu, Turhan Korkmaz, Emrah İsmail Çevik
Volume:	5
Number:	4
Year:	2014
Page:	89-118
ISSN:	1309-2448

Abstract

Since the implementation of a new explicit inflation targeting policy in 2005, CBRT has followed a more transparent communication strategy. This has made more information available to markets regarding its decision making process in order to increase predictability. Within this framework, MPC meetings have been held on a scheduled monthly basis, at preannounced dates. After the meetings, the policy rate decisions were made public immediately, followed by a text providing the rationale behind the decisions. Through these implementations, CBRT provides guidance to the markets. In this study, the impact of Central Bank Interest Rate Releases on financial markets has been investigated in the period between February 2005 and April 2013. The variables used in this study are BIST 30 Index, US Dolar/TRY and EURO/TRY exchange rates, both spot and futures daily return series. The impact of interest rate releases on conditional mean and volatility was investigated using GARCH and EGARCH models. Empirical results suggest that markets respond differently when policy interest rates are separated into rate increases and rate decreases in policy rates.

Keywords:

Central bank, interest rates decisions, BIST 30, exchange rates, volatility

JEL Classification:

E52, E58, G17

Full Text ( ↓ 2727)

Merkez Bankası Faiz Duyurularının Finansal Piyasalara Etkisi

Posted on Sunday November 2nd, 2014 by

Makale Bilgileri

Dergi:	Business and Economics Research Journal
Makalenin Başlığı:	Merkez Bankası Faiz Duyurularının Finansal Piyasalara Etkisi
Yazar(lar):	Neilan Soylu, Turhan Korkmaz, Emrah İsmail Çevik
Cilt:	5
Sayı:	4
Yıl:	2014
Sayfa:	89-118
ISSN:	1309-2448

Özet

2005 yılından itibaren, açık enflasyon hedeflemesi rejimine geçilmesiyle beraber, TCMB piyasalarda öngörülebilirliği arttırmak ve istenmeyen oynaklıkları önlemek amacıyla, giderek daha şeffaf bir iletişim stratejisi izlemiş, karar alma sürecine ilişkin daha fazla bilgi paylaşmıştır. Bu çerçevede, Para Politikası Kurulu toplantılarının önceden belirlenen tarihlerde yapılması, toplantıdan hemen sonra faiz kararlarının gerekçeleriyle birlikte yayımlanması, piyasalara yol gösterir nitelikte uygulamalardır. Bu çalışmada, merkez bankası faiz duyurularının spot ve vadeli işlemler piyasası üzerine etkisi araştırılmıştır. Şubat 2005 – Nisan 2013 döneminde işlem gören BİST 30 endeksi, Dolar/TL ve Euro/TL değişkenlerine ait günlük spot ve vadeli getiri serileri kullanılmış, faiz duyurularının, GARCH ve EGARCH yöntemleri kullanılarak, ortalama getiri ve volatilite üzerinde etkileri araştırılmıştır. Sonuçlar, faiz kararlarının, artış ya da azalış olarak ayrıştırıldığında, analiz edilen değişkenler üzerinde farklı etkileri olduğunu göstermektedir.

Anahtar Kelimeler:

Merkez bankası, faiz kararları, BİST 30, döviz, volatilite

JEL Sınıflandırması:

E52, E58, G17

Full Text ( ↓ 2727)

Credit Spreads during the Global Financial Crisis: Evidence from the Japanese Bond Market

Posted on Sunday November 2nd, 2014 by

Article Information

Journal:	Business and Economics Research Journal
Title of Article:	Credit Spreads during the Global Financial Crisis: Evidence from the Japanese Bond Market
Author(s):	Aydın Yüksel, Aslı Yüksel
Volume:	5
Number:	4
Year:	2014
Page:	71-88
ISSN:	1309-2448

Abstract

This paper uses credit spread data on Japanese bond indices to examine the possibility of a change in the determinants of daily credit spreads after the outbreak of the global financial crisis of 2007. A set of variables identified by prior research are used in a GARCH setting to explain credit spread changes both before and after the start of the crisis. The findings indicate that, overall, the coefficient estimates of the two bond market factors, namely changes in the spot rate and changes in the slope of the treasury yield curve, are consistent with prior literature. Moreover, the direction of the relationship is the same during the two periods. On the other hand, the relationship between credit spread changes and the two stock market factors, namely stock market index returns and changes in the implied index option volatility, is weak and sensitive to the period examined. Finally, the liquidity factor has a weak impact in both periods. It is also notable that the explanatory power of the empirical model used in the paper falls during the crisis.

Keywords:

Credit spreads, the Japanese Bond Market, the Global Financial Crisis, liquidity risk, GARCH

JEL Classification:

G12, G01

Full Text ( ↓ 2665)