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Problems in Making International Financial Reporting Standards Become “National”: The Case of Turkey

 
Article Information
Journal: Business and Economics Research Journal
Title of Article: Problems in Making International Financial Reporting Standards Become “National”: The Case of Turkey
Author(s):  Kerem Sarioglu
Volume: 8
Number: 4
Year: 2017
Page: 849-857
ISSN: 1309-2448
DOI Number: 10.20409/berj.2017.87
Abstract
Among numerous countries adopting International Financial Reporting Standards, Turkey is a country where the entire set is translated to Turkish and approved it as national accounting standards. Considering its history and the country’s established tax based accounting and business culture, using rules that were originated in another language creates problems both in understanding and applying Turkish Accounting Standards. The purpose of this text is to illustrate some of the examples of difficulties in applying Turkish Accounting Standards and to explain past and current financial reporting environment in Turkey.

Keywords: International Financial Reporting Standards, International Accounting Standards, Language, Business Culture, Accounting Culture

JEL Classification: M41, M48

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Online Referrals Categorization and Performance of the Hospitality Industry: The Case of International Hotel Brands in Europe

 
Article Information
Journal: Business and Economics Research Journal
Title of Article: Online Referrals Categorization and Performance of the Hospitality Industry: The Case of International Hotel Brands in Europe
Author(s): Iva Slivar, Ramazan Ufuk Bayer
Volume: 8
Number: 4
Year: 2017
Page: 835-847
ISSN: 1309-2448
DOI Number: 10.20409/berj.2017.86
Abstract
When mentioning online referrals in tourism, the first associations for most are online reviews of guests, usually those on the most popular social media website in tourism – TripAdvisor. In fact, online referrals1 are a much broader concept which is presented through their categorization according to their affiliation to e-marketing domains. The goal of this paper is to research the use of online referrals in hospitality according to the suggested classification. A research featuring a selection of European branded hotel chains, ranging from luxury to budget, and their use of online referrals is presented. The results revealed that most hotels have an average performance in online referrals marketing as a whole, while hotels classified in the budget segment show the worst performance.

Keywords: Referral Marketing, International Hotel Brands in Europe, Affiliate Marketing, Guest Reviews, Social Media

JEL Classification: M31, L82, L83

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Defining Key Factors for Successful Change Management and A New Model Proposal

 
Article Information
Journal: Business and Economics Research Journal
Title of Article: Defining Key Factors for Successful Change Management and A New Model Proposal
Author(s): Gul Eser
Volume: 8
Number: 4
Year: 2017
Page: 815-834
ISSN: 1309-2448
DOI Number: 10.20409/berj.2017.85
Abstract
Change management models proposed by Lewin (1951) and Kotter (1995) are well known in the literature. These models are also well accepted in Turkish literature as well; however they include very broad explanations. It is not clear whether these models can be used as a guide in practice. This study aims to analyze studies conducted in the field of change management in order to determine success indicators for change management practices and suggest a new change management model. For this purpose authorized dissertations and thesis in database of National Thesis Archive at the Council of Higher Education Center and articles published in journals Indexed within ULAKBİM National database were reviewed with keywords “change” and “change management”. 72 relevant studies were analyzed, 31 of which are articles and 41 are thesis and dissertations, 25 of which examined a real change process within an organization. Considering these 25 studies’ result, success indicators for change management are defined as follows; communication, potential resistors, human resources department, leadership, shared vision, incentive, team and culture. The proposed change management model consists of 4 main processes named evaluation of the present state, defining outline for change, monitoring and freezing.

Keywords: Change, Change Management, Change Model, Change Success Indicators

JEL Classification: M10, M19

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The Role of Psychological Capital in Self-leadership: An Empirical Research on State Officials

 
Article Information
Journal: Business and Economics Research Journal
Title of Article: The Role of Psychological Capital in Self-leadership: An Empirical Research on State Officials
Author(s): Meral Kizrak, Papatya S. Bicakci, H. Nejat Basim
Volume: 8
Number: 4
Year: 2017
Page: 797-813
ISSN: 1309-2448
DOI Number: 10.20409/berj.2017.84
Abstract
This study aims to explore the psychological capital factors which may affect self-leadership skills. To this aim, the effects of four sub-constructs of psychological capital (hope, optimism, resilience, self-efficacy) on eight sub-constructs of self-leadership (self-goal setting & visualizing successful performance, focusing thoughts on natural rewards, self-observation, self-reward, self-punishment, self-cuing, self-talk, evaluating beliefs and assumptions) have been investigated. The research data were obtained from 227 state officials in Ankara through questionnaires and convenience sampling. For the data analysis and model test, the structural equation modeling was utilized. The research findings indicate that different self-leadership behaviors are affected by different psychological factors, particularly hope and optimism. On the other hand, the findings reveal that self-cueing is influenced by each psychological factor except for hope. The results also show that none of the psychological sub-constructs has an effect on self-reward or self-punishment. Within this context, employees’ psychological capital has been found to have a partial impact on their self-leadership skills.

Keywords: Psychological Capital, Self-leadership, Positive Organizational Behavior, Structural Equation Model

JEL Classification: M12, M53, M54, J24

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The Effect of Verbal Aggressiveness to Organizational Commitment and Mediating Role of Perceived Peer Support: Kazakhstan Example

 
Article Information
Journal: Business and Economics Research Journal
Title of Article: The Effect of Verbal Aggressiveness to Organizational Commitment and Mediating Role of Perceived Peer Support: Kazakhstan Example
Author(s): Mustafa Karaca
Volume: 8
Number: 4
Year: 2017
Page: 785-795
ISSN: 1309-2448
DOI Number: 10.20409/berj.2017.83
Abstract
The aim of this study is to examine the effect of verbal aggressiveness on organizational commitment while the perceived peer support is the mediator. For this aim, a survey study, which includes 1265 participants from a public health center in Kazakhstan, is used. For the aim of the study, we used hierarchical regression analyses. The results indicate that verbal aggressiveness has a direct effect on organizational commitment and perceived peer support. In addition to this result, it was also found that perceived peer support has a partial mediating role on this relationship. This research has been studied in between Kazakhstan and Turkey. And it is an interdisciplinary study.

Keywords: Verbal Aggressiveness, Organizational Commitment, Perceived Peer Support, Mediating Effect, Kazakhstan

JEL Classification: M12, M54

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(Turkish) İş-Aile Çatışması ile Örgütsel Bağlılık Etkileşiminde Algılanan Yönetici Desteğinin Rolü: Görgül Bir Araştırma

 
Article Information
Journal: Business and Economics Research Journal
Title of Article: The Role of Perceived Supervisor Support in the Interaction between Work-Family Conflict and Organizational Commitment: An Empirical Study
Author(s): Esra Aydin, H. Nejat Basim
Volume: 8
Number: 4
Year: 2017
Page: 773-784
ISSN: 1309-2448
DOI Number: 10.20409/berj.2017.82
Abstract
In this study, it is aimed at examining the effect of work-family/ family-work conflict on organizational commitment and the mediator effect of perceived supervisor support on this relationship. The data were collected with a survey from 342 participants working in public institutions and the data were analyzed via statistical programs. As a result of the structural equation modeling, the relationship between work-family conflict and organizational commitment was found to be statistically insignificant. On the other hand, family-work conflict was found to predict organizational commitment. In this context, it was found that there was a negative and significant relationship between family-work conflict and organizational commitment. Furthermore, the findings showed that perceived supervisor support had no role in the relationship between work-family conflict and organizational commitment. On the other hand, perceived supervisor support had partial mediation role in this relationship. Consequently, results indicated that work-family conflict decreased organizational commitment and by decreasing work-family conflict, perceived supervisor support increased organizational commitment with an indirect effect. In the study, results of the findings were discussed theoretically and various implications were presented for future studies.

Keywords: Work-Family Conflict, Family-Work Conflict, Organizational Commitment, Perceived Supervisor Support, Social Exchange Theory

JEL Classification: L20, M10

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Considering Education for Opportunity versus Necessity-based Entrepreneurs: Does Income Lead to Greater Entrepreneurial Well-Being?

 
Article Information
Journal: Business and Economics Research Journal
Title of Article: Considering Education for Opportunity versus Necessity-based Entrepreneurs: Does Income Lead to Greater Entrepreneurial Well-Being?
Author(s): Gokcen Arkali Olcay, Ozlem Kunday
Volume: 8
Number: 4
Year: 2017
Page: 759-772
ISSN: 1309-2448
DOI Number: 10.20409/berj.2017.81
Abstract
This study is motivated through the paradox on the well-being of self-employed that self-employment is associated with greater satisfaction across various domains despite the lower income levels of such entrepreneurs. Since not all self-employed gain higher returns to income, there is a need to question to what extent income contributes to well-being as well as the most critical factors such as education or the reason that the entrepreneur starts a new business could play a role in this relationship between income and well-being. Using GEM’s data on entrepreneurs from a wide set of countries all over the world, the effect of income on entrepreneurial well-being is tested treating education as the moderator across necessity and opportunity entrepreneurs. While necessity entrepreneurs with relatively lower education levels gain higher returns to income, opportunity entrepreneurs gain higher returns to income when their education levels are higher. The results shed light on how the effect of income on entrepreneurial well-being changes adversely with the increasing education levels for different entrepreneurial motivations.

Keywords: Necessity Entrepreneurship, Opportunity Entrepreneurship, Well-Being, Income, Education, GEM

JEL Classification: L26, M13, M10

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Confirmatory Factor Analysis on Tax Compliance Intentions, General Fairness, Procedural Fairness and Social Norms

 
Article Information
Journal: Business and Economics Research Journal
Title of Article: Confirmatory Factor Analysis on Tax Compliance Intentions, General Fairness, Procedural Fairness and Social Norms
Author(s): Nuran Bayram, Mine Aydemir, Zuhal Yildirim, Reyhan Leba Tansoker
Volume: 8
Number: 4
Year: 2017
Page: 749-758
ISSN: 1309-2448
DOI Number: 10.20409/berj.2017.80
Abstract
The share of small and medium-sized enterprises in the economy has increased in recent times. Nevertheless, it is seen among the most risky groups when evaluated in terms of tax compliance. The aim of the present study is to investigate the reliability and structural validity. Because of this aim we used the Turkish version of the tax compliance intention, general fairness, procedural fairness and social norms scale. The study group consists of 320 participants. We used AMOS program for the data analysis. As a result, the best fit indices are obtained. All factor loadings were found statistically significant after confirmatory factor analysis. Cronbach Alpha reliability coefficient is calculated to determine the reliability of the scale in this study. Cronbach’s alpha values of the all dimensions were found within the range between 0.73 and 0.90. The Turkish form of tax compliance intention, general fairness, procedural fairness and social norms scale was found to be adequate and reliable. These instruments can be used by the researchers in research in Turkey.

Keywords: Confirmatory Factor Analysis, Tax Compliance Intention, General Fairness, Procedural Fairness, Social Norms

JEL Classification: C00, H20

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Expected Maximum Drawdown Approach on Portfolio Selection: An Examination on BIST100 – S&P500

 
Article Information
Journal: Business and Economics Research Journal
Title of Article: Expected Maximum Drawdown Approach on Portfolio Selection: An Examination on BIST100 – S&P500
Author(s): Umut Uyar, Habib Kucuksahin
Volume: 8
Number: 4
Year: 2017
Page: 727-748
ISSN: 1309-2448
DOI Number: 10.20409/berj.2017.79
Abstract
In the study, the maximum drawdown criterion frequently used by investment specialists and fund managers in the practice of risk factor measurement was carried out. Within the scope of the study, Risky, Non-Risky and Equally Weighted portfolios have been established with the stocks listed on BIST100 and S&P500 indexes. The weight of each stock in the portfolios whose performance was measured for the year 2016 was arranged according to the expected maximum drawdown. With the aim of determining the highest expected drop points, daily returns of associated stocks between January 1, 2010, and December 31, 2015, were utilized. As a result of the study, it was confirmed that for the BIST100 index, the non-risky portfolio provides the highest return as opposed to expectations, while for the S&P500 index, risky portfolios provide the highest return in parallel with the expectation. When we look at 2016 as a year when sharp declines were experienced for the BIST100 index, it is possible to say that the non-risky portfolios yield higher returns correspond with the expectations. Finally, it has been determined that non-risky portfolios created from stocks in related indices performed better than other portfolios according to Sharpe (1966) and Treynor (1965) performance indexes. When examining the performance outputs of portfolios formed by both indexes for 2016, it is possible to say that the predictions of investors who prefer low risk have been realized.

Keywords: Portfolio Selection, Expected Maximum Drawdown, BIST100, S&P500

JEL Classification: G10, G11

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Modeling of Volatility in the Stock Markets Returns: Classic and Bayesian GARCH Approaches for ISE -100

 
Article Information
Journal: Business and Economics Research Journal
Title of Article: Modeling of Volatility in the Stock Markets Returns: Classic and Bayesian GARCH Approaches for ISE -100
Author(s): Muhammet Burak Kilic, Ismail Celik, Murat Kaya
Volume: 8
Number: 4
Year: 2017
Page: 715-726
ISSN: 1309-2448
DOI Number: 10.20409/berj.2017.78
Abstract
The accuracy of estimate in the investment risk is important for the potential investors as well as the expected return from the investment characteristics. One of the most fundamental issues on risk and return is to have the heavy tailed behavior of the residuals that makes it difficult to obtain an appropriate risk prediction model for index returns in financial studies. In this study, Istanbul stock exchange (ISE-100) daily index data between February 2007 and February 2017 is analyzed with the classic and Bayesian GARCH (1,1) models and it is aimed to compare the effects of them on return volatility with Student-t residuals. As a result of this study, no significant differences are found between the classical and Bayesian GARCH (1,1)-Student-t models both effects of shock on volatility and volatility persistence for stock return. This can be interpreted as both models not well differentiated from each other. In conclusion, classical and Bayesian GARCH (1,1)-Student-t estimation methods provide reliable results both in modeling volatility of returns and in estimating investment risk for investors and market regulators.

Keywords: ISE-100, Stock Returns; Volatility, Student-t Distribution, Bayesian Approaches

JEL Classification: C46, C58 G11, G12

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