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Analysis of the Causality Relationship between Brent Crude Oil Prices and Energy Import in Turkey Under Structural Breaks

Posted on Friday July 26th, 2019Friday July 26th, 2019 by

Article Information

Journal:	Business and Economics Research Journal
Title of Article:	Analysis of the Causality Relationship between Brent Crude Oil Prices and Energy Import in Turkey Under Structural Breaks
Author(s):	Esra N. Kilci
Volume:	10
Number:	4
Year:	2019
Page:	777-788
ISSN:	2619-9491
DOI Number:	10.20409/berj.2019.200

Abstract

Turkey, struggling with the problem of high current account deficit, is an energy dependent country due to lack of oil reserves. Therefore, the changes in energy prices do have impacts on balance of payments through import channel. Considering that energy imports constitutes the biggest share of current account deficit, it is expected that the rise in oil prices will increase the imports upwards. The purpose of this study is to analyze the causality relationship from Brent crude oil prices to energy import by using the monthly data in the period of 2006:08-2018:12. The unit root properties of the series are tested by using Fourier KPSS (2006) unit root test and the causality relationship between the series is investigated by employing Fourier Granger (2016) causality test. Both these tests take into account the impact of multiple structural breaks. The results indicate that there is a causality relationship from Brent crude oil prices to energy import in Turkey in the relevant period.

Keywords:

Crude Oil Prices, Energy Import, Current Account Deficit, Structural Breaks

JEL Classification:

C10, Q41, Q43

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The Impact of Government Size on Output Volatility: Evidence from World Economies

Posted on Friday July 26th, 2019Friday July 26th, 2019 by

Article Information

Journal:	Business and Economics Research Journal
Title of Article:	The Impact of Government Size on Output Volatility: Evidence from World Economies
Author(s):	Gamze Oz-Yalaman, Deniz Sevinc, Guven Sevil
Volume:	10
Number:	4
Year:	2019
Page:	761-776
ISSN:	2619-9491
DOI Number:	10.20409/berj.2019.199

Abstract

One of the most important goals of policy-makers is to achieve macroeconomic stability, which could significantly be affected by output volatility. In an effort to provide insights with regard to macroeconomic stability, this study aims to model the volatility of output by using univariate GARCH models and to examine the impact of government size on output volatility by using extensive data set from eight different classifications of world economies for the period between 1960 and 2017. The study also employs the Granger Causality Analysis to determine the direction of this relationship. The results provide strong evidence for a negative relation between government size and output volatility. Output volatility is largely dependent on its own shocks and negatively influenced by outside shock as government size. Moreover, confirming Keynesian Hypothesis, the results show that there is mostly one-way causality from government size to output volatility. The results are robust in terms of different classifications of world economies, different measurements of output volatility, different methodologies and controlling for the effect of different sets of exogenous variables.

Keywords:

Output Volatility, Government Expenditure, Univariate GARCH Model, Granger Causality

JEL Classification:

C01, H5, N10, O47

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Complicated Multipolar International Relations System: Russia and China As New Power Centers

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

Article Information

Journal:	Business and Economics Research Journal
Title of Article:	Complicated Multipolar International Relations System: Russia and China As New Power Centers
Author(s):	Muhittin Tolga Ozsaglam
Volume:	10
Number:	3(Special Issue)
Year:	2019
Page:	749-776
ISSN:	2619-9491
DOI Number:	10.20409/berj.2019.198

Abstract

This study discusses the nature of the current international relations system and examines the roles and behaviours of the actors within the system. Certainly, the study does not neglect the former studies regarding the nature of the system, and so it contains disciplinary literature review. The methodology of the study is based on combination of quantitative and qualitative methods which evaluates the current system by uniting facts, numbers and arguments-theories. This study focuses on nature of current international relations system by emphasizing on the impacts and relations of the major actors particularly Russia and China. Certainly, other significant actors are not neglected which have close relationship with Russia and China. For instance, Turkey, Iran and members of the BRICS and some African countries are playing crucial roles in current international relations system by improving their ties with Russia and China in economic, political and military spheres. Only sovereign states are not actors in international relations system, international organizations and multinational companies also play crucial roles within international relations system. Therefore, they may create competitive and cooperative atmosphere as dependent on their own interests, which makes the system more complicated. As a result the paper indicates interactions of the various actors and the challenges of the emerging new actors to the USA-Western dominated unipolar system and their involvements in economic, social and political spheres in the world.

Keywords:

Multipolar International Relations System, Russia, China, Africa, Asia

JEL Classification:

D74, Q34, F51

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The Mediating Role of Psychological Well-Being and Work Engagement on the Effect of Organization-Based Self-Esteem on Job Performance

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

Article Information

Journal:	Business and Economics Research Journal
Title of Article:	The Mediating Role of Psychological Well-Being and Work Engagement on the Effect of Organization-Based Self-Esteem on Job Performance
Author(s):	Ali Acaray
Volume:	10
Number:	3(Special Issue)
Year:	2019
Page:	735-748
ISSN:	2619-9491
DOI Number:	10.20409/berj.2019.197

Abstract

The success of organizations requires employees to perform the desired behavioral outcomes. However, employees’ expected behavioral outcomes depend on many factors. The combination of these factors in an interactional process is an important issue. The purpose of this paper is to examine the mediating role of psychological well-being and work engagement on the effect of organization-based self-esteem on job performance. The sample of the study consisted of 370 employees from various companies such as food, cleaning and cosmetics. The data collected by convenience sampling method was applied to correlation and regression analyzes. The findings of the study revealed that organization-based self-esteem had a positive effect on job performance and psychological well-being and work engagement had a mediating role in this relationship. In addition, there was serial mediating effect of psychological well-being and work engagement on the relationship between organization-based self-esteem and job performance. Based on these findings, suggestions for practical applications were recommended.

Keywords:

Organization-Based Self-Esteem, Job Performance, Psychological Well-Being, Work Engagement

JEL Classification:

M10, M12, M20

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Mapping the Effect of Corporate Reputation Perception on the Intention to Buy with Decision Tree

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

Article Information

Journal:	Business and Economics Research Journal
Title of Article:	Mapping the Effect of Corporate Reputation Perception on the Intention to Buy with Decision Tree
Author(s):	Basak Gok, Uzeyir Fidan
Volume:	10
Number:	3(Special Issue)
Year:	2019
Page:	723-734
ISSN:	2619-9491
DOI Number:	10.20409/berj.2019.196

Abstract

Businesses are in competition with other businesses in order to survive and achieve success. Reputation, which is a tool for competition in all sectors, affects the future of enterprises. The perception of corporate reputation created by enterprises has an important role in determining the purchasing preferences of customers. In this study, the results of a mistake, made by an international tire manufacturer in marketing and promotion process, were investigated. After the mistake, the perception of the customers about the brand and the effect of this perception on the purchase intention were examined. The research was carried out with the data obtained from the customers who volunteered in the dealers selling the products of this brand. The responses of 397 participants were evaluated at the study. Reputation perception score and re-purchase intention of the customers regarding the brand were investigated by decision tree method from data mining techniques. The intent of buying the customers, according to the status of being aware of faulty advertisement and brand reputation score has been determined. Although products of this brand are preferred in Turkey, Customers are adversely affected from the incorrect advertising films. Predicting customer preferences, maintains its attractiveness and importance. This study is expected to contribute the literature on corporate reputation perception and data mining.

Keywords:

Corporate Reputation, Reputation Management, Data Mining, Decision Trees, Reputation Perception

JEL Classification:

L11, C51, C81

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The Effect of Supervisor Integrity on Employees’ Organizational Citizenship Behaviors: The Role of Trust in Supervisor

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

Article Information

Journal:	Business and Economics Research Journal
Title of Article:	The Effect of Supervisor Integrity on Employees’ Organizational Citizenship Behaviors: The Role of Trust in Supervisor
Author(s):	Ilksun Didem Ulbegi
Volume:	10
Number:	3(Special Issue)
Year:	2019
Page:	709-722
ISSN:	2619-9491
DOI Number:	10.20409/berj.2019.195

Abstract

The aim of this study is to reveal the direct, indirect, and total effects between the supervisor integrity perceptions of employees, trust in supervisor, and organizational citizenship behaviors. In this respect, the data is collected using a convenience sampling method from 413 banking employees working in Adana. To begin with, the confirmatory factor analysis is conducted in order to examine the validity of the proposed model in the study and showed that the model has a very good model fit. In the study, in order to reveal the reliability of the scales, Cronbach Alpha internal consistency coefficient and composite reliability coefficient are used and identified that the scales used in the study are reliable. Moreover, using correlation analysis the relationships between the variables are revealed statistically significant. Subsequently, structural equation modeling and bootstrapping method are used in order to test the proposed hypotheses in the context of the research model and revealed the direct, indirect, and total effects between the variables. In this regard, the model proposed in the research frame established a very good model fit. Study results revealed that the perceptions about the supervisor integrity have an effect on the employees’ organizational citizenship behaviors in addition to this there is a partial mediation effect of trust in supervisor in this relationship. These study results are discussed in the context of previously conducted studies and theoretical framework.

Keywords:

Supervisor Integrity, Trust in Supervisor, Organizational Citizenship Behavior, Structural Equation Modelling, Mediation Analysis

JEL Classification:

D23, C31, C83

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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

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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

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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

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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

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