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Accounting for Exchange Risk Management Activities under the Scope of International Accounting Standards

 
Article Information
Journal: Business and Economics Research Journal
Title of Article: Accounting for Exchange Risk Management Activities under the Scope of International Accounting Standards
Author(s): Aysegul Ipek, Fehmi Ali Ildir
Volume: 9
Number: 1
Year: 2018
Page: 235-251
ISSN: 1309-2448
DOI Number: 10.20409/berj.2018.102
Abstract
Today, companies operating in the country’s economies, which have become the only market, especially with the influence of globalization, face serious exchange rate risk. This risk can has negative effects on the results of operations of the enterprises. Many different day-to-day exchange rate risk management techniques are emerging in order to reduce or minimize these effects. However, the implementation of these methods brings with it a number of difficulties. Within the scope of International Accounting and Financial Reporting Standards (IAS / IFRS), which is mandatory for many companies as of 2005, it is aimed to give theoretical information about the forward contracts used in the foreign exchange risk management activities and the accounting process and to examine the implementation period. In this context, the theoretical information about the emergence, management and management instruments of the foreign exchange risk was given as the priority and the different alternatives of the risk management activities in the scope of IAS / IFRS have been presented afterwards. Finally, the risk management process belonging to a company operating in Turkey and the applications of the financial transactions included in this process within the scope of financial risk protection accounting.

Keywords: Accounting Standards, Financial Risk, Derivatives, Hedging, Foreign Exchange Risk

JEL Classification: M40, M41, M48, G31, G32

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Reverse Acquisitions Within the Scope of IFRS 3 Business Combinations

 
Article Information
Journal: Business and Economics Research Journal
Title of Article: Reverse Acquisitions Within the Scope of IFRS 3 Business Combinations
Author(s): Olcay Akcin, Ilker Kiymetli Sen
Volume: 9
Number: 1
Year: 2018
Page: 213-233
ISSN: 1309-2448
DOI Number: 10.20409/berj.2018.101
Abstract
Because of tough competition conditions in global economy, technological developments, changes in consumer preferences, economic crisis, changes in law and number of other reasons, companies choose business combinations in order to reduce the business risks, increase the performance, efficiency and competitive power, expand into new markets and reduce the costs. Companies reporting in accordance with International Financial Reporting Standards apply IFRS 3 Business Combinations while accounting of business combinations. Transactions defined as “Reverse Acquisitions” in the literature are discussed in a separate chapter within the standard. As per the standard, accounting treatments for reverse acquisitions differ in many ways from regular business combinations.The purpose of this study is to explain the theoretical and practical accounting treatment differences between regular business combinations and reverse acquisitions.

Keywords: IFRS, Business Combinations, Reverse Acquisition, Fair Value, Consolidation

JEL Classification: M40, M41, M42

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The Impact of Interaction Between Enterprise Resource Planning System and Management Control System on Firm Performance in The Turkish Manufacturing Sector

 
Article Information
Journal: Business and Economics Research Journal
Title of Article: The Impact of Interaction Between Enterprise Resource Planning System and Management Control System on Firm Performance in The Turkish Manufacturing Sector
Author(s): Melek Eker, Semih Eker
Volume: 9
Number: 1
Year: 2018
Page: 195-212
ISSN: 1309-2448
DOI Number: 10.20409/berj.2018.100
Abstract
The developments of information and communication technology affect the way of data collecting and storing for firms. This has also lead to improving information processing process and management control processes. The purpose of this study is to show whether the interaction between the enterprise resource planning system and the management control system leads to an improvement in firm performance. The model of Kallunki, Laitinen, and Silvola (2011) is used to understand and analyze the relationship in Turkey. To test the relationship empirically, data is gathered from 125 manufacturing firms of the top 500 in Turkey in 2015. The results support the hypothesis that high interaction between enterprise resource planning system and management control system is associated with high financial and non-financial performance.

Keywords: ERP, Formal Control, Informal Control, Financial performance, Non-Financial Performance

JEL Classification: M41, M42, 033

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Flexible Manufacturing System Selection with Entropy based ROV Method

 
Article Information
Journal: Business and Economics Research Journal
Title of Article: Flexible Manufacturing System Selection with Entropy based ROV Method
Author(s): Alptekin Ulutas
Volume: 9
Number: 1
Year: 2018
Page: 187-194
ISSN: 1309-2448
DOI Number: 10.20409/berj.2018.99
Abstract
With increasing global competition, most manufacturing businesses turn to increase their production technologies to gain competitive advantage. Flexible manufacturing systems are also one of these production technologies. Flexible manufacturing systems have the capacity to produce a variety of products in a short time and in specified quantities. With the widespread use of advanced technology, manufacturing companies have begun using flexible manufacturing system to take advantage of benefits of this system. When evaluating or selecting of flexible manufacturing systems, many criteria, which are conflicted, should be considered. Hence, multi-criteria decision making methods are used in the evaluation or selection of flexible manufacturing systems. In this study, the flexible manufacturing systems will be selected with the Entropy based range of value (ROV) method. The objective weights of the criteria will be obtained by the Entropy method and alternatives will be ranked by the ROV method. Eight different alternatives are ranked with respect to their performance by using of this method. Since there is no study using ROV in Turkish literature, this study is thought to contribute to Turkish literature.

Keywords: Flexible Manufacturing Systems, Multi-criteria Decision Making, ROV Method, Entropy Method

JEL Classification: M11, C44

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A Study on Developing The Mushroom Management Scale

 
Article Information
Journal: Business and Economics Research Journal
Title of Article: A Study on Developing The Mushroom Management Scale
Author(s): Nihan Birincioglu, Erol Tekin
Volume: 9
Number: 1
Year: 2018
Page: 169-185
ISSN: 1309-2448
DOI Number: 10.20409/berj.2018.98
Abstract
The aim of this study is to develop a mushroom management scale and to test its validity and reliability. The scale was applied to 216 research assistant for Exploratory Factor Analysis, and 240 different research assistant for Confirmatory Factor Analysis. As a result of the analysis, the Kaiser-Meyer-Olkin value is found 0,874 and the Scope Validity Index is found 0,95. The total variance ratio explained by the scale is 67,238%. In addition, according to the result of Explanatory Factor Analysis the scale consists of 4 factors and 19 items. These factors are described as “inadequate information sharing”, ” anxiety of power loss”, “inadequate communication” and “lack of participatory management”. Cronbach’s Alpha Internal Consistency Coefficient is calculated 0,90 and lastly, its test-retest correlation coefficient is calculated 0,82. At the same time it can be said that according to the Confirmatory Factor Analysis the scale has satisfactory coherence criteria. As a result, a valid and reliable Mushreoom Management Scale consisting of four sub-factors is developed.

Keywords: Organizational Behavior, Mushroom Management, Mushroom Management Scale, Validity and Reliability

JEL Classification: M19, D23, C80

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Being a Good Soldier or an Illusionist? The Role of Turnover Intention on the Relationship between Careerism and Compulsory Citizenship Behaviors

 
Article Information
Journal: Business and Economics Research Journal
Title of Article: Being a Good Soldier or an Illusionist? The Role of Turnover Intention on the Relationship between Careerism and Compulsory Citizenship Behaviors
Author(s): Bora Yildiz, Ozlem Ayaz Arda
Volume: 9
Number: 1
Year: 2018
Page: 151-167
ISSN: 1309-2448
DOI Number: 10.20409/berj.2018.97
Abstract
In this study, the moderating effect of turnover intention on the relationship between careerism and compulsory citizenship behaviors was investigated. The purpose of the study is to determine the effect of careerism, as an individual level orientation, on the compulsory citizenship behaviors, and the moderating effect of turnover intention on this relationship. Accordingly, the study was conducted on the 330 bankers, who work in private banks in Istanbul. Data were gathered by using convenient sampling method with survey technique. The data were analyzed with exploratory factor analysis, correlation analysis, and hierarchical regression analysis by using SPSS along with PROCESS which is a macro for examining different levels of moderator variable, developed for the test of complex relations among the multiple variables. Findings indicate that careerism is one of the positive and statistically significant predictors of compulsory citizenship behaviors. Moreover, the moderating effect of turnover intention on the careerism-compulsory citizenship behaviors relationship is also statistically significant, such that the positive effect of careerism on the compulsory citizenship behaviors is stronger when the level of turnover intention is low. Managerial and practical implications, as well as further research directions, are provided which will be deemed as useful both for academicians and industry professionals.

Keywords: Careerism, Compulsory Citizenship Behaviors, Turnover Intention

JEL Classification: M10, M12, D23, O15

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Effects of Individual Innovative Behaviors on Conflict with Co-Workers and the Intent-to-leave: A Research in the Public Sector

 
Article Information
Journal: Business and Economics Research Journal
Title of Article: Effects of Individual Innovative Behaviors on Conflict with Co-Workers and the Intent-to-leave: A Research in the Public Sector
Author(s): Adnan Eroglu, Mustafa Kemal Topcu, H. Nejat Basim
Volume: 9
Number: 1
Year: 2018
Page: 123-136
ISSN: 1309-2448
DOI Number: 10.20409/berj.2018.96
Abstract
There is a scant literature on personal outcomes of innovative work behaviors, whereby it motivates us to understand the role of individual and organizational factors in cognitive and motivational processes underlying individual innovative behaviors. While the role of innovative work behaviors is studied as a gain for organizations, negative contingencies or dark side are neglected. To this end, a two-step study consisting of mixed methodology is conducted to identify effects of innovative work behaviors on conflict with co-workers and intent-to-leave. At first step, a survey, in which 186 employees participated, was employed in a public institution operating in defense industry. The study indicates that there is no significant effect of innovative work behaviorson conflict with co-workers, and intent-to-leave. In order to determine the motivators, a focus group study as a qualitative research method was performed.

Keywords: Innovative Behavior, Conflict With Co-Workers, Intent-To-Leave, Focus Group Method, Mixed Method

JEL Classification: M12, M14

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Who Are the Market Beaters: Lucky Investors, Insiders or Who Else?

 
Article Information
Journal: Business and Economics Research Journal
Title of Article: Who Are the Market Beaters: Lucky Investors, Insiders or Who Else?
Author(s): Yusuf Varli
Volume: 9
Number: 1
Year: 2018
Page: 87-107
ISSN: 1309-2448
DOI Number: 10.20409/berj.2018.95
Abstract
Conditions of beating the market is always top of the interests of investors throughout the history. In this study we aim to find who beats the market using a special trade and portfolio data from a stock exchange namely Borsa İstanbul. Instead of market data, investor based data used in this paper provides us to make stronger analyses. We initially find that 87% of individual and 92% of institutional investors get returns in a random way. Then the rest of investors are investigated to determine who consistently beats the market and gets abnormal returns. And we mainly find that the market beating gets longer with increasing portfolio size and diversification, while it gets shorter with increasing turnover. Additionally, longer beating length means higher shares of women, old adults, funds and foreigner. Furthermore, we analyze the return performance of investors in our study and show that the picture becomes reversed compared to beating length criteria. Finally, the insiders are compared with other investors to understand whether the market is efficient in the strong form or not. And the findings indicate that the insiders cannot be specifically differentiated from other investors. Therefore, we end up with the evidence that there is strong form efficiency in Borsa İstanbul.

Keywords: Market Beating, Abnormal Returns, Individual Investors, Institutional Investors, Insider Trading, Market Efficiency

JEL Classification: G10, G11, G12, G14

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Testing the Relationship between Real Sector Confidence Index and Borsa Istanbul Sector Indices

 
Article Information
Journal: Business and Economics Research Journal
Title of Article: Testing the Relationship between Real Sector Confidence Index and Borsa Istanbul Sector Indices
Author(s): Sinem Eyuboglu, Kemal Eyuboglu
Volume: 9
Number: 1
Year: 2018
Page: 75-86
ISSN: 1309-2448
DOI Number: 10.20409/berj.2018.94
Abstract
In recent years, it has been determined that investors are influenced by psychological factors while making investment decisions. Confidence indices are used to learn investors’ expectations about the economy. In this paper, it is investigated whether there is short and long-run relationship between Borsa Istanbul sector indices and real sector confidence index. The short and long-run relationships between the stock indices and the real sector confidence index, which are determined to be stationary at different levels, are tested by ARDL Bound Test. The findings show that there is a relationship between the real sector confidence index and all sector indices both in the long-run and in the short-run. In addition, it is determined that the increase in real sector confidence index affects positively stock returns (except XULAS and XTAST) in the short-run. The results of causality showed that mostly there is a causality relationship from sector indices to real sector confidence index. Thus, it has been shown that psychological factors should be considered as determinants of changes in the stock market.

Keywords: Real Sector Confidence Index, Borsa Istanbul, Bound Test, Toda-Yamamoto Causality Test

JEL Classification: D53, E44, M21

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Health Tourism between Kazakhstan and Turkey: Outlook on Health Sectors and Potentials

 
Article Information
Journal: Business and Economics Research Journal
Title of Article: Health Tourism between Kazakhstan and Turkey: Outlook on Health Sectors and Potentials
Author(s): Kaan Ogut, Serkan Yesilyurt, Caglar Yurtseven
Volume: 9
Number: 1
Year: 2018
Page: 57-74
ISSN: 1309-2448
DOI Number: 10.20409/berj.2018.93
Abstract
This study comparatively analyzes the two rising members of the Turkish world, Kazakhstan and Turkey, in terms of the health statuses of its citizens and health sectors. It unfolds the general health structure of both countries with a comparative perspective and sets out the potential in the health tourism from Kazakhstan to Turkey using economic method. The study projects the number of health tourists who can come to Turkey from Kazakhstan and the income that can be obtained from this tourism under different scenarios. Every year, according to Turkstat, Turkey accommodates 3.2%, of the Kazakhstan health tourism market departing from Kazakhstan, which grows, in terms of World Health Organization, on average 12% yearly. The original finding of the study is the calculation by utilizing the S growth method that how much additional income and added value can be created in the case of Turkey raising its share in Kazakhstan health tourism market. Health tourism is one of the priority areas for the Turkish economy and is developing rapidly. It is estimated that this priority area will be able to contribute close to $ 3 billion to direct income and $ 6 billion to GSHY by 2030, with an exponential growth that can be initiated by effective promotional and marketing activities for the Kazakhstan market.

Keywords: Health Tourism, Medical Tourism, Kazakhstan, Turkey, Logistic (S) Growth

JEL Classification: I10, L83

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