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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

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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

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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.

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Abstract

Exchange value is one of the significant tools for investors in decision making. Since exchange values are volatile and they change within short periods, investors need an effective method to minimize the risk. This study compares the prediction performances of artificial neural networks, which is recently being used as an effective tool of prediction, and the monetary model, which is one of the methods to predict structural exchange rates. In this study exchange rates of Turkish Lira against US Dollar and Euro are predicted. In models, inflation levels for domestic and foreign countries, money supply, interest rates and economic indicators are used. The time period between 1986 and 2010 is covered for the USD and the time period between 1999 and 2010 is covered for the EU. Results of this study show that ANN, which is recently being used for the prediction problems, reached a high level prediction performance.

Keywords:Exchange rate forecasting, Monetary model, Artificial neural network, Euro, United States dolar

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Abstract

This paper aims to empirically investigate holding periods, illiquidity and disposition effect in Karachi Stock Exchange (KSE). KSE 100 Index Companies daily data were collected for a period of five year i.e. 2003-2007. Daily returns, holding periods, illiquidity and volatility were calculated through this data. These variables were regressed in models used by Visaltanachoti et al. (2007) to calculate annual holding periods, illiquidity and disposition effect. The results have revealed that there exists disposition effect in KSE. Holding periods were found positively related to illiquidity and negatively associated with stock returns. Further, holding periods were long for illiquid stocks and short for less illiquid stocks. The study is significant in the sense that it’s perhaps the first study conducted in a developing country like Pakistan.

Keywords: Disposition effect, illiquidity, holding periods, Anomaly, KSE