Manuscript2 – Page 28 – BUSINESS AND ECONOMICS RESEARCH JOURNAL

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Testing the Homogeneity of Non-Adopters of Internet Banking

Posted on Friday May 10th, 2019Tuesday May 14th, 2019 by

Article Information

Journal:	Business and Economics Research Journal
Title of Article:	Testing the Homogeneity of Non-Adopters of Internet Banking
Author(s):	Berna Serener
Volume:	10
Number:	3(Special Issue)
Year:	2019
Page:	699-708
ISSN:	2619-9491
DOI Number:	10.20409/berj.2019.194

Abstract

Non-adopters of internet banking is not a homogenous group. In this study, non-adopters are divided into two groups: prospective adopters and persistent non-adopters. The aim of this paper is to analyse how the two non-adopter groups differ with regard to usage, image, tradition, risk and value barriers. Factor analysis is used to categorize the data into five barriers. Independent samples t-tests are used to reveal the differences between prospective adopters and persistent non-adopters of internet banking. The results of this study reveal that persistent non-adopters show more resistance to internet banking in relation to usage, image, tradition, risk and value barriers. The p-values indicate that the value barrier differentiates the groups the most, followed by usage, image, risk and tradition barriers. The results highlight the fact that psychological barriers are a greater cause of resistance than functional barriers.

Keywords:

Internet banking, Non-adopters, Barriers, Homogeneity

JEL Classification:

G21, L81, M31

Full Text ( ↓ 2311)

Pecking Order Theory in Determining The Capital Structure: A Panel Data Analysis Of Companies in Turkey

Posted on Thursday May 9th, 2019Tuesday May 14th, 2019 by

Article Information

Journal:	Business and Economics Research Journal
Title of Article:	Pecking Order Theory in Determining The Capital Structure: A Panel Data Analysis Of Companies in Turkey
Author(s):	Sefika Nilay Onatca Engin, Cansu Unver Erbas, Ahmet Gokhan Sokmen
Volume:	10
Number:	3(Special Issue)
Year:	2019
Page:	687-698
ISSN:	2619-9491
DOI Number:	10.20409/berj.2019.193

Abstract

Capital structure decisions are an important issue that should be emphasized in order to enable enterprises to continue their activities and grow in a healthy manner. The purpose of this study is determining the capital structure and evaluating which capital structure theory fits the firms’ attitude. Knowing the characteristics of the determinants of capital structure and how they affect the capital structure will enable capital structure decisions to be taken more effectively. For this purpose, panel data analysis was carried out by using the balance sheets and income statements data of 186 manufacturing companies, whose shares are traded in İstanbul Stock Exchange between the years 2009-2016. The results of the analysis indicate that firms firstly use internal funds. External funds are used only when internal funds are insufficient. The results of the analysis show that these firms’ attitudes are fit with the pecking order theory.

Keywords:

Capital structure, Pecking Order Theory, Target Debt Ratio, Panel Data Analysis, Manufacturing Companies

JEL Classification:

C23, G32

Full Text ( ↓ 4537)

Restructuring before Privatization: An Examination of the Turkish State-Owned Enterprises

Posted on Thursday May 9th, 2019Tuesday May 14th, 2019 by

Article Information

Journal:	Business and Economics Research Journal
Title of Article:	Restructuring before Privatization: An Examination of the Turkish State-Owned Enterprises
Author(s):	Ismail Cagri Ozcan
Volume:	10
Number:	3(Special Issue)
Year:	2019
Page:	671-685
ISSN:	2619-9491
DOI Number:	10.20409/berj.2019.192

Abstract

Though Turkey is one of the initial countries that started a privatization program, the pace of the implementation of the privatization program has remained quite low. Many state-owned enterprises (SOEs) stayed for a long time in the privatization program and many others are not even included in the privatization program. This situation arises the questions such as “what are the criteria for the SOEs to be included into the privatization portfolio” and “what kind of restructuring processes are these SOEs going through before the privatization”. Because the selection of the SOEs to be privatized and the associated restructuring directly affect the success of the privatizations. There is no study on this topic to our knowledge for Turkey. This study aims at filling this gap by examining which SOEs were included into the privatization portfolio and what kind of restructuring processes these SOEs underwent over the 1990-2001 period. The findings of the study suggest that Turkish governments decided to privatize the SOEs that were easier to be privatized. Another finding is that the SOEs underwent a restructuring especially in the following year of being included into the privatization portfolio.

Keywords:

Privatization, State-Owned Enterprises, Financial Performance, Restructuring

JEL Classification:

G32, G34, L32, L33

Full Text ( ↓ 3001)

Has the Effect of University Education on Wages Been Decreasing in Turkey?

Posted on Thursday May 9th, 2019Tuesday May 14th, 2019 by

Article Information

Journal:	Business and Economics Research Journal
Title of Article:	Has the Effect of University Education on Wages Been Decreasing in Turkey?
Author(s):	Hakan Ulucan, Cemil Ciftci
Volume:	10
Number:	3(Special Issue)
Year:	2019
Page:	649-669
ISSN:	2619-9491
DOI Number:	10.20409/berj.2019.191

Abstract

The main aim of this study is to present general development of wage inequalities in Turkey in the period from the second half of 2000s, and analyze the effects of significant rise of university education on wages. In this framework, Ordinary Least Squares and Quantile regression methods are conducted by using Household Labor Force surveys of Turkstat from 2007-2017 period. The primary findings of the study are: (i) the between the top ten percentile and the bottom ten percentile (90-10 wage ratio) decreases, (ii) The increases in the minimum wages converge lower wage groups the top, (iii) Quantitative increases in the university education lowers the effect of university education on wages. The last finding indicates that problems exist in qualitative side of university education despite increases in the quantitative side. Besides, the increases in the demand for educated labor fall behind those in supply inducing a negative pressure on wages of educated labor force. The findings of the study are very important for the policies aimed at structural transformation of Turkish economy.

Keywords:

Wage Inequality, University Education, Education, Quantile Regression, Cross Sectional Analysis

JEL Classification:

I24, J31, C21

Full Text ( ↓ 2141)

The Analysis for the Impacts of Exchange Rate Volatility on Foreign Trade for Turkish Economy

Posted on Thursday May 9th, 2019Tuesday May 14th, 2019 by

Article Information

Journal:	Business and Economics Research Journal
Title of Article:	The Analysis for the Impacts of Exchange Rate Volatility on Foreign Trade for Turkish Economy
Author(s):	Fatih Ayhan
Volume:	10
Number:	3(Special Issue)
Year:	2019
Page:	629-647
ISSN:	2619-9491
DOI Number:	10.20409/berj.2019.190

Abstract

Foreign trade volume is significantly affected by different macroeconomic factors. The change in the exchange rate also has a significant effect on foreign trade decisions such as other macro factors. In this study, the effect of exchange rate volatility on foreign trade is examined both theoretical and empirically. The industrial production index, exports, imports and the real exchange rate monthly data are used for January 2005 and February 2014 for Turkey’s economy used. The ARDL model was used in this paper and according to findings; while foreign country income level has a positive impact on both short and long term, exchange rate volatility and real exchange rate negatively affect exports both in the short and long term. At the same time, industrial production and real exchange rate positively affect the imports of Turkey in both short and long term, while exchange rate volatility negatively affects the imports for Turkey.

Keywords:

Exchange Rate Volatility, Foreign Trade, Export, Import, Real Exchange Rate

JEL Classification:

F14, F31, F47, O24

Full Text ( ↓ 2828)

Relationship Between Financial Development and Growth: Bootstrap Causality Analysis for Turkey

Posted on Thursday May 9th, 2019Tuesday May 14th, 2019 by

Article Information

Journal:	Business and Economics Research Journal
Title of Article:	Relationship Between Financial Development and Growth: Bootstrap Causality Analysis for Turkey
Author(s):	Selim Demez, Oktay Kizilkayb, Mehmet Dag
Volume:	10
Number:	3(Special Issue)
Year:	2019
Page:	617-628
ISSN:	2619-9491
DOI Number:	10.20409/berj.2019.189

Abstract

The impact of financial development on economic growth in the globalized world economy is a much-emphasized issue in the economic literature. The theoretical and empirical studies on the subject generally reveal that an advanced financial system will increase the economic growth by providing functionality to the markets or that economic growth will bring about the development of the financial system. In addition to these two perspectives, in the literature, there are few approaches suggest that there is no relationship between financial development and economic growth. Also, empirical studies examining the relationship between financial development and economic growth require different results regarding the relationship between variables, analysis periods and the econometric method used. In this study, the relationship between financial development and economic growth in Turkey was examined by Hacker and Hatemi-J (2012) bootstrap causality test using quarterly data 2006Q1-2018Q2 period. From total domestic loans that variables are taken to represent financial development, only one-way causality to economic growth was found. These results indicate that supply-leading hypothesis is valid in Turkey.

Keywords:

Financial Development, Bootstrap Causality, Growth

JEL Classification:

C32, O16, G10

Full Text ( ↓ 2290)

The Relationship among Oil Prices, Oil Consumption and Financial Development

Posted on Thursday May 9th, 2019Tuesday May 14th, 2019 by

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

Full Text ( ↓ 2560)

Energy Consumption and Economic Growth: Econometric Analysis for NIC Countries

Posted on Thursday May 9th, 2019Thursday June 13th, 2019 by

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

Full Text ( ↓ 2855)

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

Posted on Saturday March 16th, 2019Saturday March 23rd, 2019 by

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

Full Text ( ↓ 2324)

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

Posted on Saturday March 16th, 2019Saturday March 23rd, 2019 by

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

Full Text ( ↓ 2210)