Banking sector has a great importance in a national economy. Banks provide the vital function of mobilizing savings from those who have it and allocating such savings to those who wish to borrow to invest in economic development. When these two cardinal functions are not effectively provided by a country’s banking institutions, then its economic performance is seriously hampered. Main duty of banks is to accept deposits and channel those deposits into lending activities, either directly or through capital markets. In this study it is tried to determine if there is any correlation between the level of lending and the level of profitability. In addition to that, optimal level of lending is tried to be determined. Total lendings / total assets which is the best indicator of asset quality is accepted as independent variable and net income / total asset (return on assets), net income / equity (Return on equity) are accepted as dependent variable. Between those variables regression and correlation analyse are done .

Keywords:Bankings, Lending, Profitability ratios, Financial performance

Just like all developing countries, export is the locomotive of economic growth for Turkey. To maintain the high economic growth rate, increasing the export is of great importance. Turkey’s export target is 500 billion dollars for 2023. To achieve this goal, it needs foreign firms, which produce within the country and sell goods abroad. The purpose of this study is to examine the effects of inflows to Turkey foreign direct investment on the country’s export performance. In this study, the relationship between exports and foreign direct investment in Turkey has been studied by a bounds testing approach with using the monthly data for the period 2000-2010. According to empirical findings of the study, the series was found to be co-integrated. In the long term analysis, the effect of foreign direct investment on the export is positive and statistically significant. In the short term analysis, foreign direct investment affected the export after a period. The model’s error correction term has been worked.

Keywords:Foreign Direct Investments, Export Performance, Bounds Testing.

The traditional Capital Asset Pricing Model stating that the risk premium of a financial asset is positively related to its market risk, was found to be insufficient in explaining the expected returns of stocks. Fama and French (1993) introduced the “Three-Factor Asset Pricing Model” via inserting the size and book-to-market factors to the standard Capital Asset Pricing Model. In this study, the validity of the Three-Factor Model in Istanbul Stock Exchange within 1999-2011 period is investigated. The model is tested on ISE-100 Index non-financial companies monthly data by utilizing panel data analysis. The findings reveal that Three-Factor Model gives statistically significant results in Istanbul Stock Exchange. In the forecast of the cost of capital, Three-Factor Model can be used instead of one-factor Capital Asset Pricing Model by the investors in Turkey. Our findings are consistent with most of the studies that suggested the validity of the Three-Factor Model in developed and emerging markets.

Keywords:Three-Factor Model, Fama and French, Asset Pricing, Panel Data Analysis, ISE

Article Information

Abstract

In the 21st century, housing has various functions such as investment, sign of status in social structure, auxiliary asset to financial assurance apart from meeting people’s need of shelter. Criteria which determine individuals’ choice of housing differ in parallel with the functions of housing. In this study, effects of spatial and cultural changes on housing perception witnessed in urban structure together with the process of globalization are mentioned; concept and functions of housing are evaluated. In this sense, it is aimed to determine the elements which influence housing choices of individuals in Bursa. Perspective of individuals living in Bursa towards the concept of housing and criteria they have considered or will consider in selecting residences are studied with face-to-face survey method. Determination of criteria about housing to be purchased by individuals helps city managers and planers in taking and implementing decision in the process of forming urban areas physically in parallel with the requirements of individuals, but in a way that supports city plans.

Keywords:Globalization processes, meaning of housing, housing preferences, Bursa

Article Information

Abstract

Functional food term defines the foods that provide further benefits to human physiology and metabolic functions in addition to their nutritional function. Consequently, they have health promoting and disease preventing effects. The objective of this study is to have an insight into the Turkish consumers’ perceptions by revealing their awareness, acceptance and attitudes toward functional foods. The data is collected through a survey from the academic staff working in the universities of Izmir city. The findings show that the most widely used functional foods are, respectively, mineral water, diet cereal biscuit and cereal flake. The health related reasons that make consumers use functional foods are, respectively, functional foods increase healty gut bacteria, functional foods help to lose weight and functional foods help child development. There is a difference between consumers who have heard about “functional food term” before and who have not heard it before, in terms of the “reward” dimension of Functional Food Related Attitudes scale. Contributions to the literature and practice are discussed. Besides, the limitations and the suggestions for future research are presented.

Keywords:Functional Foods, Food Marketing, Healty Food, Nutrition, Novel Food

Article Information

Abstract

Because of the heavy competition between businesses and uncertainty in market conditions, attainment of complete and certain information flow becomes harder. Especially, in evaluations with linguistic varibles, because of the uncertainty in speaking language, there exists some fuzinesses. In fuzzy environments like this, decision making with fuzzy numbers is rather important. The aim of this study is, to put forward drawbacks of extended analysis technique, which is developed for solving multi criteria decision making problems with Fuzzy
Analytic Hierarchy Process (FAHP) and evaluation of the applicability of FAHP for supplier selection. In fuzzy environments, operations with imprecise data are so important in terms of decision making. FAHP is a decision making tool that supports evaluation of quantitative and qualitative criteria simultaneously. In this study, a bread factory’s flour supplier selection process is evaluated by FAHP and extended analysis and total integral techniques are compared. As a result of the comparison, total integral technique has more appropriate conclusions.

Keywords:Fuzzy Sets, Triangular Fuzzy Numbers, Fuzzy Multiple Criteria Decision Making, FAHP, Supplier Selection In Fuzzy Environment.

Article Information

Abstract

This study aims to explain competitiveness of OECD countries through developing institutional and mixed models. In these models, the data of 2007 are used to avoid the global crisis effects of 2008. As a result of predictions, instituional models developed with the indicators formed to show the institutional, political and socio-cultural structures of the countries by some organizations are found functional in explaining competetiveness of OECD. It is found that factors thought to have been defining the national competitiveness depending on institutional models explain WEF measures of OECD’s competitiveness along 47 % – 56 %, IMD meausures of OECDS’s competitiveness along 74% -84 %. Mixed models developed by including theoretical variables into instituional models are found explaining OECD’s competitivess around 63%-90%.

Keywords:Competitiveness, OECD, multiple regression, institutional models, mixed models

Article Information

Abstract

The aim of this study is to determine to what extent the accounting education, that has a long history in our country, covered the expectations of students in the faculty of economics and administrative sciences who are the today’s accountant candidates and to evaluate the results achieved. For this purpose, firstly required quality of accounting education was focused in this study than the progress of the accounting profession and accounting education within the historical process as well as its current status were primarily attempted to be put forward. Then, a survey was conducted in the faculty of economics and administrative sciences at Uludag University that is the one of the biggest universities in Turkey, in order to determine expectations of the accountant candidates from the accounting education and to see to what extent these expectations have already been met by higher education institutions. As a result of this survey, accounting education at the higher education institutions was found out to be inefficient due to responses received from the students. Also, valuable opinions and suggestions in terms of what should be altered within the accounting education system/curriculums, in order to increase accounting education quality by this way meet the needs and expectations of students, were obtained.

Keywords:Accounting Education, Professional Accountant Candidates, International Accounting Education Standards

Article Information

Abstract

Repo transactions provide cash/securities management opportunities for financial intermediaries and investors. Repos are the most important financial instrument in Istanbul Stock Exchange in terms of transaction volume. Banker Crisis (1982) and Banking Crisis (1994), occured in Turkey, and also global financial crisis have showed that repo markets are of great importance in terms of systemic risk/financial crisis management. Methodology of the study is based on literature review, data and case study analysis. In this paper, we aim to define inefficiencies of Turkish repo markets to develop policy suggestions in the light of early liberal era experience of Turkey and also financial failure lessons. In this context, we conclude three suggestions for policy makers. First, regulatory/supervisory structure of repo transactions should be cooperatively re-designed by the relevant governmental authorities. Second, acceptable repo collateral list may involve new collateral categories such as equities, eurobond, letter of guaranty and warrants. And finally, OTC repo transactions should regulate from the perspective of risk management.

Keywords:Repo and Reverse Repo, 1982 Banking Crisis, OTC Transactions, Equity Repo, Collateral Management

Article Information

Abstract

In recent years, Turkish banking sector has a speed upward trend in employment capacity. But comparing with the developed countries banking sectors, the number of labor force in Turkish banking sector is far below from the level that it could be. Certainly, employment capacity is directly related with the size of the sector. But, in Turkish banking case, it is seen that, total number of the labor force is far more behind than even its potential level. The comparative data with the European Union and the United States show this fact obviously. Increasing of the asset size and employment capacity of Turkish banking sector to the level of developed countries could be achieved justly in the long term. However, it is possible to attain higher employment levels in the short-term by some government regulations and incentives. Providing incentives to increase the number of the bank branches that are the most important source of employment in the sector and implementing measures to raise employee qualifications will make an important contribution to the banking sector and the economy in Turkey.

Keywords:Employment, Labor Force, Intermediation Costs, Banking Sector, Government Incentives.