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Unconventional Monetary Policies in the Eurozone: Considering Theoretical Backgrounds and Policy Outcomes

Posted on Tuesday September 15th, 2015 by

Article Information

Journal:	Business and Economics Research Journal
Title of Article:	Unconventional Monetary Policies in the Eurozone: Considering Theoretical Backgrounds and Policy Outcomes
Author(s):	Derya Yılmaz
Volume:	6
Number:	3
Year:	2015
Page:	51-68
ISSN:	1309-2448

Abstract

Global Financial Crisis erupted as a sub-prime mortgage market crisis in US and became a full-fledged global crisis after the fall of Lehman Brothers. Thus, the effects of financial crisis spread to all over the world. In the Eurozone, the financial crisis became more challenging as it provoked the sovereign debt problems of some countries and triggered a sovereign debt crisis. Sovereign Debt Crisis was the first crisis in the Eurozone after forming a monetary union and put the viability of the union under risk. In this tranquil environment, European Central Bank (ECB) responded the crisis with set of monetary policy tools- conventional and unconventional. ECB pursued unconventional monetary policy parallel to its conventional monetary policy tool- policy rate. It provided liquidity support to markets, purchase public and private assets and guide markets about future short-term interest rates in the context of unconventional monetary policy. The aims of using these policies are similar for all central banks: alleviating the financial market tensions and stimulating aggregate demand. This study evaluated the effectiveness of these policies on the basis of these aims. The study finds out that ECB has been effective on depressing the financial market stress but ECB has not been effective on stimulating the aggregate demand.

Keywords:

Unconventional monetary policy, Policy effectiveness, ECB, global financial crisis, sovereign debt crisis

JEL Classification:

E44, E52, E58

Full Text ( ↓ 2487)

Unconventional Monetary Policies in the Eurozone: Considering Theoretical Backgrounds and Policy Outcomes-tr

Posted on Tuesday September 15th, 2015 by

Makale Bilgileri

Dergi:	İşletme ve Ekonomi Araştırmaları Dergisi
Makalenin Başlığı:	Unconventional Monetary Policies in the Eurozone: Considering Theoretical Backgrounds and Policy Outcomes
Yazar(lar):	Derya Yılmaz
Cilt:	6
Sayı:	3
Yıl:	2015
Sayfa:	51-68
ISSN:	1309-2448

Öz

Anahtar Kelimeler:

Unconventional monetary policy, Policy effectiveness, ECB, global financial crisis, sovereign debt crisis

JEL Sınıflandırması:

E44, E52, E58

Full Text ( ↓ 2487)

Corporate Sustainability: A Research on Firms That Issue Sustainability Reports in Turkey

Posted on Tuesday September 15th, 2015 by

Article Information

Journal:	Business and Economics Research Journal
Title of Article:	Corporate Sustainability: A Research on Firms That Issue Sustainability Reports in Turkey
Author(s):	Funda Özçelik, Burcu Avcı Öztürk, Sevda Gürsakal
Volume:	6
Number:	3
Year:	2015
Page:	33-49
ISSN:	1309-2448

Abstract

In recent years, because of stakeholders’ transparency demand from enterprises and want information about financial performance as well as environmental and social performance, sustainability reporting attracts more attention of stakeholders. In this study, a survey was conducted on firms that issue sustainability reports in Turkey. The purpose of this study is to examine the issues that lead enterprises to sustainable activities, enterprises’ priorities, barriers, training and technical support requirements. According to the results of the research, sustainability practices have been seen as an important element of corporate reputation; areas that are regulated by law are among priorities of enterprises; areas that bring additional cost are not among priorities of enterprises. It is identified that lack of incentives for sustainability performance has been seen as an obstacle for sustainability practices.

Keywords:

Sustainable development, corporate sustainability, corporate social responsibility, accountability, sustainability reporting

JEL Classification:

M10, M14, Q01

Full Text ( ↓ 2538)

Corporate Sustainability: A Research on Firms That Issue Sustainability Reports in Turkey-tr

Posted on Tuesday September 15th, 2015 by

Makale Bilgileri

Dergi:	İşletme ve Ekonomi Araştırmaları Dergisi
Makalenin Başlığı:	Corporate Sustainability: A Research on Firms That Issue Sustainability Reports in Turkey
Yazar(lar):	Funda Özçelik, Burcu Avcı Öztürk, Sevda Gürsakal
Cilt:	6
Sayı:	3
Yıl:	2015
Sayfa:	33-49
ISSN:	1309-2448

Öz

Anahtar Kelimeler:

Sustainable development, corporate sustainability, corporate social responsibility, accountability, sustainability reporting

JEL Sınıflandırması:

M10, M14, Q01

Full Text ( ↓ 2538)

Level of Accommodation Enterprises in Using Modern Financing Techniques: A Study on Managers of 4 and 5 Star Hotels Operating in Alanya

Posted on Tuesday September 15th, 2015Wednesday September 16th, 2015 by

Article Information

Journal:	Business and Economics Research Journal
Title of Article:	Level of Accommodation Enterprises in Using Modern Financing Techniques: A Study on Managers of 4 and 5 Star Hotels Operating in Alanya
Author(s):	Mehmet Akif Öncü, İstemi Çömlekçi, Çiğdem Mutlu, Emre Zengin
Volume:	6
Number:	3
Year:	2015
Page:	19-32
ISSN:	1309-2448

Abstract

The purpose of this study is to determine the levels of use of the modern financing techniques by the managers of accommodation enterprises which have a high-level financing requirement within the tourism industry. Four- and five-star accommodation enterprises which provide services in Alanya were determined to be the population of study. Survey technique was used as the data collection method. As a result of the study, it was found that the accommodation enterprises choose the financial leasing among the modern financing techniques, and the trade banks among the financial institutions. In addition, another result achieved by the study is that the economic expectations of the accommodation enterprises regarding these techniques increase, as their awareness on modern financing techniques is raised.

Keywords:

Accommodation enterprises, financing techniques, leasing, risk capital, factoring, forfaiting, barter

JEL Classification:

L83, G22

Full Text ( ↓ 2361)

Level of Accommodation Enterprises in Using Modern Financing Techniques: A Study on Managers of 4 and 5 Star Hotels Operating in Alanya-tr

Posted on Tuesday September 15th, 2015 by

Makale Bilgileri

Dergi:	İşletme ve Ekonomi Araştırmaları Dergisi
Makalenin Başlığı:	Level of Accommodation Enterprises in Using Modern Financing Techniques: A Study on Managers of 4 and 5 Star Hotels Operating in Alanya
Yazar(lar):	Mehmet Akif Öncü, İstemi Çömlekçi, Çiğdem Mutlu, Emre Zengin
Cilt:	6
Sayı:	3
Yıl:	2015
Sayfa:	19-32
ISSN:	1309-2448

Öz

Anahtar Kelimeler:

Accommodation enterprises, financing techniques, leasing, risk capital, factoring, forfaiting, barter

JEL Sınıflandırması:

L83, G22

Full Text ( ↓ 2361)

Intraday Lead-Lag Relationship between Stock Index and Stock Index Futures Markets: Evidence from Turkey

Posted on Tuesday September 15th, 2015Thursday January 14th, 2016 by

Article Information

Journal:	Business and Economics Research Journal
Title of Article:	Intraday Lead-Lag Relationship between Stock Index and Stock Index Futures Markets: Evidence from Turkey
Author(s):	Ersan Ersoy, Levent Çıtak
Volume:	6
Number:	3
Year:	2015
Page:	1-18
ISSN:	1309-2448

Abstract

In perfectly frictionless and rational markets, spot markets and futures markets should simultaneously reflect new information. However, due to market imperfections, one of these markets may reflect information faster than the other and therefore may lead to the other. This study examines the lead-lag relationship between stock index and stock index futures, in terms of both price and volatility, by using 5 minute data over 2007-2010 period. The findings of this study indicate that a stable long-term relationship between Turkish stock index and stock index futures exists, however stock index futures do not lead stock index and there is a two way interaction between them. Therefore neither of the markets is dominant over the other one in the price formation process.

Keywords:

Lead-Lag relationship, price discovery, volatility relationship

JEL Classification:

G13, G14, G15

Full Text ( ↓ 2366)

Intraday Lead-Lag Relationship between Stock Index and Stock Index Futures Markets: Evidence from Turkey-tr

Posted on Tuesday September 15th, 2015Thursday January 14th, 2016 by

Makale Bilgileri

Dergi:	İşletme ve Ekonomi Araştırmaları Dergisi
Makalenin Başlığı:	Intraday Lead-Lag Relationship between Stock Index and Stock Index Futures Markets: Evidence from Turkey
Yazar(lar):	Ersan Ersoy, Levent Çıtak
Cilt:	6
Sayı:	3
Yıl:	2015
Sayfa:	1-18
ISSN:	1309-2448

Öz

Anahtar Kelimeler:

Lead-Lag relationship, price discovery, volatility relationship

JEL Sınıflandırması:

G13, G14, G15

Full Text ( ↓ 2366)

BERJ Volume:6 Number:2 2015

Posted on Saturday April 18th, 2015Saturday April 18th, 2015 by

Volume: 6 | Number: 2 | Year: 2015

ISSN: 1309-2448

Kapak [Cover Page] İç Kapak [Inside Cover] İçindekiler [Table of Contents]

Big Five Personality Traits and Organizational Dissent: The Moderating Role of Organizational Climate

Ayse Begum Oktem, Tuna Cenkci

Öz [Abstract]

Full Text ( ↓ 2835)

The Importance of Safety in Construction Sector: Costs of Occupational Accidents in Construction Sites

Fatih Yilmaz, Ugur Bugra Celebi

Öz [Abstract]

Full Text ( ↓ 2762)

Fight Against Tax Competition in the EU and the Effects of Tax Policies Implemented in the EU During the 2008 Global Financial Crisis on Tax Competition

Erdal Eroglu

Öz [Abstract]

Full Text ( ↓ 2445)

Obezite Vergisine İlişkin Halkın Düşünceleri: Türkiye’de Bir Alan Araştırması
(Public Opinions in Obesity Tax: A Field Research in Turkey)

Yasar Ayyildiz, Yunus Demirli

Öz [Abstract]

Full Text ( ↓ 2535)

Göreli Yoksunluk ve Bölgeler Arası Göçler: Türkiye Örneği
(Relative Deprivation and Inter-regional Migration: The Turkish Case)

Pinar Narin Emirhan

Öz [Abstract]

Full Text ( ↓ 2444)

The Fiscal Costs of Banking Intervention in the Eurozone

Derya Yilmaz, Dilek Murat

Öz [Abstract]

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Muhasebe Eğitiminde Etik: Ön Lisans Öğrencilerinin Etik Algılarına Yönelik Bir Araştırma
(Ethics on Accounting Education: A Research of Ethics Perception on Vocational High Schools Students)

Gonul Ipek Alkan

Öz [Abstract]

Full Text ( ↓ 2703)

Türkiye’de Yatırımcıların Öngörü Performanslarının Rassal Yürüyüş Modeli Çerçevesinde Analizi
(Analysis of Forecasting Performance of Investors in Turkey Within Framework of the Random Walk Model)

Banu Tanriover, Duygu Arslanturk Collu

Öz [Abstract]

Full Text ( ↓ 2403)

Türkiye’deki A Grubu Seyahat Acentalarının Tercih Sıralamasının PROMETHEE Yöntemi ile Belirlenmesi
(The Determination of Preference Ranking of A Group Travel Agencies in Turkey with PROMETHEE Method)

Hasan Uygurturk, Turhan Korkmaz

Öz [Abstract]

Full Text ( ↓ 4185)

The Determination of Preference Ranking of A Group Travel Agencies in Turkey with PROMETHEE Method

Posted on Saturday April 18th, 2015 by

Article Information

Journal:	Business and Economics Research Journal
Title of Article:	The Determination of Preference Ranking of A Group Travel Agencies in Turkey with PROMETHEE Method
Author(s):	Hasan Uygurtürk, Turhan Korkmaz
Volume:	6
Number:	2
Year:	2015
Page:	141-155
ISSN:	1309-2448

Abstract

Travel agencies are the main actors of the tourism industry. Many touristic customers are involved in tourism activities benefiting from the services provided by the travel agencies. Travel agencies play an important role in advising them to make decisions and agencies also are being an information source for customers. In addition, travel agencies contribute the improvement of alternatives for touristic customers by improving continually their product and services. There are three different travel agency groups in Turkey. These groups are A group, B group and C group travel agencies. A-Group travel agencies are in the first place in terms of diversity of functions and economic size. A very large part of the travel agencies in Turkey is A group agencies. An excessive number of travel agencies make complicated the selection of agency for the touristic customers. This study aimed at evaluating the A group travel agencies operating in Turkey and presenting a choice of suggestion for potential touristic customers. For this purpose PROMETHEE method is used in analysis process. According to the results of the findings an order of preference for touristic customers is determined.

Keywords:

Tourism industry, A group travel agency, preference functions, PROMETHEE, GAIA plane

JEL Classification:

C44, L83

Full Text ( ↓ 4185)