Manuscript2 – Page 29 – BUSINESS AND ECONOMICS RESEARCH JOURNAL

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Analysis of Quality Focus Leadership on Quality Performance by Structural Equation Modelling

Posted on Tuesday January 22nd, 2019Monday January 28th, 2019 by

Article Information

Journal:	Business and Economics Research Journal
Title of Article:	Analysis of Quality Focus Leadership on Quality Performance by Structural Equation Modelling
Author(s):	Bulent Yildiz
Volume:	10
Number:	1
Year:	2019
Page:	149-165
ISSN:	2619-9491
DOI Number:	10.20409/berj.2019.160

Abstract

In this study, the effect of quality-focused leadership on education, customer and employee relationships and quality performance was investigated. In addition, the effect of training on the customer and employee relationships has been examined. For this purpose, survey data were collected from 170 manufacturing companies operating in Gaziantep, Kahramanmaraş and Adıyaman. The data were analyzed by the structural equation model. As a result of the analysis made, it was found that the quality-focused leadership has a significant effect on training, employee relations, customer relations and quality performance positively. It was found that education significantly influenced customer relationships and employee relations positively.

Keywords:

Quality-focused leadership, training, customer and employee relationships, quality performance

JEL Classification:

M10, M11, C12, C13, C83

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Relationships among Leader Effectiveness, Learning Orientation, Effective Communication, Team Creativity and Service Innovation in the Service Sector

Posted on Tuesday January 22nd, 2019Monday January 28th, 2019 by

Article Information

Journal:	Business and Economics Research Journal
Title of Article:	Relationships among Leader Effectiveness, Learning Orientation, Effective Communication, Team Creativity and Service Innovation in the Service Sector
Author(s):	Zafer Adiguzel
Volume:	10
Number:	1
Year:	2019
Page:	131-148
ISSN:	2619-9491
DOI Number:	10.20409/berj.2019.159

Abstract

If the companies in the service sector do not express themselves correctly and do not provide the required service, they fall behind in the competition race and have to leave the sector. Thus, the effect of leadership within senior managers on employees is reflected in organisation performance, which gain more importance every day. The purpose of this study is to analyse the relationships between the variables of leader effectiveness, learning orientation and effective communication, and team creativity and service innovation. As a result of our analyses, it was determined that leadership effectiveness and learning orientation have a positive impact on effective communication, team creativity, and service innovation. This indicates that if an organisation has effective leadership and learning orientation, it positively contributes to effective communication, team creativity, and service innovation in the service sector. 348 questionnaires collected from white-collar employees were used for evaluation; factor and reliability analysis were conducted on the Likert scale questions; correlation analysis was carried out to examine the relationships between variables; regression analysis was performed to test the hypotheses.

Keywords:

Leadership Effectiveness, Learning Orientation, Effective Communication, Team Creativity, Service Innovation

JEL Classification:

L20, L84, M10, D83

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Exploring the Relationships between Environmental Uncertainty, Business Strategy and Management Control System on Firm Performance

Posted on Tuesday January 22nd, 2019Monday January 28th, 2019 by

Article Information

Journal:	Business and Economics Research Journal
Title of Article:	Exploring the Relationships between Environmental Uncertainty, Business Strategy and Management Control System on Firm Performance
Author(s):	Melek Eker, Semih Eker
Volume:	10
Number:	1
Year:	2019
Page:	115-129
ISSN:	2619-9491
DOI Number:	10.20409/berj.2019.158

Abstract

The subject of this study is the effects of three way interaction between environmental uncertainty, business strategy and management control system on firm performance. The data from 94 Turkish manufacturing company of 500 top class company is analyzed with the SPSS. The results of multiple regression analysis indicate that higher differentiation strategy, management control system, the three-way interaction between environmental uncertainty, differentiation strategy and management control system and the three-way interaction between environmental uncertainty, differentiation strategy and interactive control system lead to higher firm performance. According to the results of t-test, the firms with high performance tend to use differentiation strategy, management control system, three-way interaction between environmental uncertainty, differentiation strategy and management control system, three-way interaction between environmental uncertainty, cost leadership strategy and management control system, three-way interaction between environmental uncertainty, differentiation strategy and interactive control system, three-way interaction between environmental uncertainty, cost leadership strategy and diagnostic control system more than ones with low performance.

Keywords:

Environmental Uncertainty, Business Strategy, Management Control Systems, Financial Performance, Non-Financial Performance

JEL Classification:

L10, M40

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A Multi-Criteria Evaluation for Sustainable Supplier Selection Based on Fuzzy Sets

Posted on Tuesday January 22nd, 2019Monday January 28th, 2019 by

Article Information

Journal:	Business and Economics Research Journal
Title of Article:	A Multi-Criteria Evaluation for Sustainable Supplier Selection Based on Fuzzy Sets
Author(s):	Ahmet Calik
Volume:	10
Number:	1
Year:	2019
Page:	95-113
ISSN:	2619-9491
DOI Number:	10.20409/berj.2019.157

Abstract

It is well known that sustainability strategies have moved further and further up over the past decade due to help companies to improve the effectiveness of their marketplace and perform better in their operations. For companies, sustainability would gain long-term consequences such as getting greater profits and creating their own consumer path. The Triple Bottom Line (TBL) is a key element of the companies to achieve social, environmental, and economic benefits. Supplier’s performance directly affects a company’s performance not only environmental or economic issues but also sustainable issues. Thus, Sustainable Supplier Selection (SSS) has become the highly relevant topic and many authors and researchers have focused on this subject. This study investigates a hybrid multi-criteria decision making (MCDM) framework based on TBL to determine sustainable suppliers. After construction of hierarchy, the integrated fuzzy MCDM algorithm is implemented. At first, Fuzzy Analytical Hierarchy Process (FAHP) is used for obtaining the weights of the main criteria and related sub-criteria. Then, fuzzy TOPSIS method is applied for ranking the suppliers. Additionally, interval type-2 fuzzy sets (IT2FSs) that express uncertainty better than traditional type-1 fuzzy sets are used for selecting an appropriate supplier. The proposed approach is validated an actual case situation in Konya.

Keywords:

Interval type-2 fuzzy set, AHP, TOPSIS, Sustainable supplier selection

JEL Classification:

C44, D70, L62, Q01

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World Bank and Keynesian Economics

Posted on Tuesday January 22nd, 2019Monday January 28th, 2019 by

Article Information

Journal:	Business and Economics Research Journal
Title of Article:	World Bank and Keynesian Economics
Author(s):	Betul Sari Aksakal
Volume:	10
Number:	1
Year:	2019
Page:	77-94
ISSN:	2619-9491
DOI Number:	10.20409/berj.2019.156

Abstract

The World Bank is an international development and financial institution, which was founded with the name of International Reconstruction and Development Bank and based within the United Nations, offers customized resources, development prescriptions, consultancies and loans to countries in various parts of the world. The largest part of the World Bank group is the World Bank which is the largest organization working on private sector initiatives and projects in developing countries; providing technical assistance and development proposals to businesses and governments. The adopted development approaches of this organization and its policy prescriptions to countries have evolved parallel to the periodic charecteristics of capitalism and the change in the economic theory corresponding to these periods since its foundation. It is possible to state that, roughly in the first 30 years, the Keynesian economic policies has affected development discourse and policies of the Bank. However, in the mid-1970s the Keynesian impulse went into reverse and replaced by neoliberalism under the effects of Vietnam War and the OPEC oil price shocks. After that, neoliberalism was on the stage until the 2008 financial crisis started in America and brought the whole world under its impact. This crisis has led the bank to change rhetoric and adopt Keynesian development policies. The main objective of this study sheds light on what Keynesian economics is, its main aims Keynesian development period of the World Bank and its reflections on Bank’s development policies.

Keywords:

World Bank, Keynesianism, Economic Development, Development Policies, Import Substitution Industrialisation

JEL Classification:

O19, F63

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The Impact of Foreign Direct Investments on Economic Growth in Transition Economies: Dynamic Panel Data Analysis

Posted on Tuesday January 22nd, 2019Monday January 28th, 2019 by

Article Information

Journal:	Business and Economics Research Journal
Title of Article:	The Impact of Foreign Direct Investments on Economic Growth in Transition Economies: Dynamic Panel Data Analysis
Author(s):	Mustafa Ozcag, E. Yasemin Bozdaglioglu, Hatice Kucukkaya
Volume:	10
Number:	1
Year:	2019
Page:	41-54
ISSN:	2619-9491
DOI Number:	10.20409/berj.2019.155

Abstract

In the transition economies, together with the transition process, positive
developments in economic growth performances can be seen. In this study, the impact of foreign direct investment on the economic growth rates of 27 transition economies for the period 1997- 2016 is modeled within the theories of neoclassical and endogenous growth. In order to investigate this effect in the framework of Neoclassical and endogenous growth theories, the human capital factor also plays an important role. For this reason, the relationship between foreign direct investment and economic growth for the specified period is tested with the estimators Arellano-Bond, Arellano-Bondmax and Arellano-Bond 2 Stage GMM (Generalized Method of Moments) which are current dynamic panel model estimators. Economic growth, human capital and trade volume variables are statistically significant and the coefficients are
positive. The most striking result of working is; if foreign direct investment is supported by human capital growth, it will have much more impact on economic growth.

Keywords:

Economic Growth, Transition Economies, Foreign Direct Investment, Dynamic Panel Data Analysis

JEL Classification:

C23, F21, O47, P20

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The Relationship between Total Factor Productivity and Shareholder Returns in Turkish Banking Sector

Posted on Tuesday January 22nd, 2019Monday January 28th, 2019 by

Article Information

Journal:	Business and Economics Research Journal
Title of Article:	The Relationship between Total Factor Productivity and Shareholder Returns in Turkish Banking Sector
Author(s):	Serhat Duranay, Gamze Gocmen Yagcilar
Volume:	10
Number:	1
Year:	2019
Page:	27-40
ISSN:	2619-9491
DOI Number:	10.20409/berj.2019.154

Abstract

The study, which was conducted in Turkish Banks between 2002-206, has three main objectives: (i) to examine the Total Factor Productivity (TFP) of deposit banks operating in Turkey, (ii) to compare the productivity changes of banks that listed and non-listed listed on the stock exchange, and (iii) to evaluate the relationship between the change in productivity and shareholder returns of the listed banks. In this way, the hypothesis that “the shareholder returns of banks with increased productivity also increase” will be tested. In line with the stated objectives, the productivity change of 22 banks between examined period was measured by using the Malmquist TFP index. There was no significant difference between the productivity changes of the listed and non – listed banks. Then, for the period 2007-2016, the shareholder returns and productivity changes of 10 banks listed in the stock exchange were calculated. While there was no significant relationship between total factor productivity and shareholder returns, it was observed that the change in technical efficiency had a positive and significant effect on it. However, regression analyzes were repeated using control variables (market return, book value/market value, return on assets) to test this relationship. After repeated regression analysis, it was concluded that the relationship is disappeared.

Keywords:

Deposit Banks, Malmquist TFP, Shareholder Return, Efficiency, Productivity

JEL Classification:

G21, G30, D24

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Does Liquidity Matter on Bank Profitability? Evidence from a Nonlinear Framework for a Large Sample

Posted on Tuesday January 22nd, 2019Monday January 28th, 2019 by

Article Information

Journal:	Business and Economics Research Journal
Title of Article:	Does Liquidity Matter on Bank Profitability? Evidence from a Nonlinear Framework for a Large Sample
Author(s):	Helmi Hamdi, Abdelaziz Hakimi
Volume:	10
Number:	1
Year:	2019
Page:	13-26
ISSN:	2619-9491
DOI Number:	10.20409/berj.2019.153

Abstract

The aim of this paper is to define the optimal level of liquidity and to investigate its impact on the overall bank profitability. To achieve these goals, we use a large sample of 127 countries over the period 2005-2015. The whole sample is divided in two sub-samples. The first covers 46 high income countries and the second includes 81 low and middle income countries. We performed the Panel Smooth Transition Regression (PSTR) as econometric approach. Empirical results show that the optimal level of liquidity that affects bank profitability is 24.18% for high income countries and 40.45% for low and middle income countries. Findings also indicate that credit risk decreases significantly the level of profitability of the two groups of countries.

Keywords:

Liquidity, Bank Profitability, PSTR Model

JEL Classification:

G21, C23

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Determinants of Innovation Activity of Small and Medium- Sized Enterprises in Small Post-Soviet Countries

Posted on Tuesday January 22nd, 2019Monday January 28th, 2019 by

Article Information

Journal:	Business and Economics Research Journal
Title of Article:	Determinants of Innovation Activity of Small and Medium-Sized Enterprises in Small Post-Soviet Countries
Author(s):	Kamalbek Karymshakov, Burulcha Sulaimanova, Dastan Aseinov
Volume:	10
Number:	1
Year:	2019
Page:	1-12
ISSN:	2619-9491
DOI Number:	10.20409/berj.2019.152

Abstract

This paper aims to study the determinants of innovation activity of small and medium-sized enterprises in five small post-Soviet countries. Empirical analysis is based on the data from the fifth wave of the Business Environment and Enterprise Performance Survey. Innovation of SMEs is measured with five innovation practices. For each aspect of innovation probit model is applied. Estimation results shows that experience of managers has curvilinear effect on the innovation in SMEs. Moreover, foreign participation, export orientation and competitiveness in sectors are indicated as important condition for innovation by SMEs. Competition forces firms to innovate in order to survive, while openness of the economy provides with exporting opportunities and participation of the foreign capital. Especially the latter factor may significantly reduce costs of innovation through technological transformation from abroad.

Keywords:

Innovation, SME, Post-Soviet countries,
Entrepreneurship

JEL Classification:

O31, O32, L25

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Short-Term Reaction of BİST Indexes to Shocks: A Macro Analysis

Posted on Monday November 5th, 2018Monday January 28th, 2019 by

Article Information

Journal:	Business and Economics Research Journal
Title of Article:	Short-Term Reaction of BİST Indexes to Shocks: A Macro Analysis
Author(s):	Ali Ulvi OZGUL, Ibrahim Korkmaz KAHRAMAN
Volume:	10
Number:	1
Year:	2019
Page:	55-75
ISSN:	2619-9491
DOI Number:	10.20409/berj.2018.151

Abstract

This research, which takes stock market index data as input in contrast to De Bondt and Thaler’s (1985) classical approach for testing overreaction hypothesis on a micro scale via individual stocks, is aimed at analyzing reactions of the market in aggregate and portfolio groups, which are represented by indexes. The shock-filtering procedure is based on 50-day window, encompassing observations from 60 days to 11 days prior to an observation as suggested by Lasfer et al. (2003) while volatility has been estimated through Exponentially Weighted Moving Average (EWMA) method. Indexes resembling each other and significantly differing from others in terms of their reaction on the day of shocks, which are detected by a different threshold have been determined. The analysis implemented separately for two subperiods outputs findings which support the validity of underreaction on all indexes except XUSIN within 2000-2008, in line with the reference researches on indexes. This result is, however valid only for positive shocks. The cautious behavior against good news disappears in the second subperiod (2009-2018). This variation can be regarded as a sign of our market’s progress in terms of information efficiency. Putting forth no significant over or underreaction of indexes to shocks, this paper shows results in compatible with the Efficient Market Hypothesis (EMH) which asserts just and timely reactions to shocks.

Keywords:

Behavioral Finance, Overreaction Hypothesis, Underreaction Hypothesis, Efficient Market Hypothesis, EWMA Filtering

JEL Classification:

G40, G12, G14, G32

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