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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

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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

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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

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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

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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

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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

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The Effect of Message Valence on e-WoM Spread: A Moderated Mediation Analysis

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

Article Information

Journal:	Business and Economics Research Journal
Title of Article:	The Effect of Message Valence on e-WoM Spread: A Moderated Mediation Analysis
Author(s):	Edin Guclu Sozer
Volume:	10
Number:	2
Year:	2019
Page:	541-555
ISSN:	2619-9491
DOI Number:	10.20409/berj.2019.184

Abstract

This study aims to examine the effect of e-WoM message on the intention level of consumers to spread the word to other consumers in the presence of a moderated mediation interaction effect between risk perception and uncertainty avoidance levels of consumers. An experimental design was implemented, and the manipulated experimental condition was e-WoM message represented in two levels, negative and positive. The results indicate that, compared to negative ones, positive e-WoM messages lead to higher intention to share the message with other consumers. However, in the presence of perceived risk, the positive direct effect of positive messages turns into a negative indirect effect when perceived risk mediates this relationship. Moreover, this negative indirect effect stabilizes with the uncertainty avoidance moderated relationship between e-WoM message and perceived risk. In the light of these findings, a two levels e-WoM communication strategy was proposed to maximize the benefits of positive customer feedbacks: Construction of a strong pool of positive e-WoM messages generated by existing satisfied customers and the use of negative framing in the marketing communication messages targeted to prospect customers.

Keywords:

e-WoM, Message Valence, Perceived Risk, Uncertainty Avoidance

JEL Classification:

M30, M31, M37

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Development of the Hedonic and Utilitarian Consumption Behavior Scale: Reliability and Validity Study

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

Article Information

Journal:	Business and Economics Research Journal
Title of Article:	Development of the Hedonic and Utilitarian Consumption Behavior Scale: Reliability and Validity Study
Author(s):	Taha Coskun, Mehmet Marangoz
Volume:	10
Number:	2
Year:	2019
Page:	517-539
ISSN:	2619-9491
DOI Number:	10.20409/berj.2019.183

Abstract

The aim of this study is to develop a scale to determine the hedonic and utilitarian consumption behavior of consumers. The scope validity of the scale was realized by scanning the literature, analysing qualitative data and referring expert opinions. The construct validity of the scale was determined by exploratory (AFA) and confirmatory (CFA) factor analysis applied to two separate data sets. As a result of AFA for hedonic consumption behavior; a five-factor structure as Hedonic Impact, Hedonic Adaptation, Impulsive Tendency, Passivity Status and Identity Reflection. A two-factor structure is described as Target Oriented and Control Oriented for utilitarian consumption behavior. The reliability of the structures confirmed by CFA was determined by Cronbach alpha’s internal consistency coefficients and item total correlations. The relationships between the factors were demonstrated through Pearson’s coefficient. As a result of the findings obtained from this study, a valid and reliable measurement tool that can be used in determining hedonic and utilitarian behaviors of consumers has been introduced.

Keywords:

Hedonism, Consumption, Hedonic Consumption, Utilitarian Consumption, Consumption Culture, Consumer Motivations

JEL Classification:

E20, E21, M31, D90

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Russian Consumers’ Responses to Turkish Products: Exploring the Roles of Country Image, Consumer Ethnocentrism, and Animosity

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

Article Information

Journal:	Business and Economics Research Journal
Title of Article:	Russian Consumers’ Responses to Turkish Products: Exploring the Roles of Country Image, Consumer Ethnocentrism, and Animosity
Author(s):	Inci Dursun, Ebru Tumer Kabadayi, Kutalmıs Emre Ceylan, Cansu Gokmen Koksal
Volume:	10
Number:	2
Year:	2019
Page:	499-515
ISSN:	2619-9491
DOI Number:	10.20409/berj.2019.182

Abstract

The main objective of this study is to investigate the country of origin (COO) effect on purchase decisions for Turkish products in foreign markets. Particularly, the study focused on the impacts of country image, consumer ethnocentrism, and animosity on product evaluation, risk perception and buying intention of Russian consumers. The data was collected through a survey conducted on a sample consisting of 346 native Russian consumers living in Moscow. Analysis results revealed that origin related factors (i.e. country image, consumer ethnocentrism, and animosity) do not directly influence purchase intention for Turkish products. Animosity was found to increase the perceived risk of buying Turkish products, to some extent, while expected negative impacts of ethnocentrism were not confirmed. Most importantly, findings revealed a strong link between country image and product evaluation. Results were discussed in detail and the article concludes with implication of the findings.

Keywords:

Country of Origin (COO), Country Image, Ethnocentrism, Animosity, Turkish Products

JEL Classification:

M16, M31, M39

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A Research on Gender Based Differences in Perceived Organizational Stress and Stress Sources

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

Article Information

Journal:	Business and Economics Research Journal
Title of Article:	A Research on Gender Based Differences in Perceived Organizational Stress and Stress Sources
Author(s):	Kurtulus Kaymaz
Volume:	10
Number:	2
Year:	2019
Page:	483-497
ISSN:	2619-9491
DOI Number:	10.20409/berj.2019.181

Abstract

The research is aimed to investigate if the perceived organizational stress and stress sources differ according to gender. For this purpose, the demand-control-social support model was used and data were collected via face to face survey around three sub-dimensions (workload, decision, and social support). The study is conducted on totally 2467 employees and 1922 employees were responsive. The first main finding of this study is that the important part of the employees were working in “high job stress” region. Another finding in the research shows that there is a significant difference between male and female employees from the point of workload and decision (autonomy). Conversely, it is found that gender of the employees does not form a significant difference for social support dimension. From the perspective of stress sources, the findings indicate that negative circumstances in pay and social rights, managers’ attitudes and behaviors and physical working conditions are main stress sources for both males and females. Especially, results proved that females affected more negatively from the stress sources like physical working conditions, workload, occupational health and safety, working breaks and annual leave than males.

Keywords:

Organizational Stress, Work Load, Decision Making, Organizational Support, Stress Sources

JEL Classification:

J24, J28, M14, M54, O15

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