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Oil Production as a Leading Indicator for Tanker Freight Market

Posted on Friday October 26th, 2018Saturday October 27th, 2018 by

Article Information

Journal:	Business and Economics Research Journal
Title of Article:	Oil Production as a Leading Indicator for Tanker Freight Market
Author(s):	Abdullah Acik, Sadık Ozlen Baser
Volume:	9
Number:	4
Year:	2018
Page:	773-785
ISSN:	2619-9491
DOI Number:	10.20409/berj.2018.138

Abstract

The aim of this study is to determine the causality between oil production and freight rates in the seaborne oil transportation in the world. The causality with oil prices has been studied more in the literature, but the studies that examine the causality with oil production have been limited. However, the effect of the crude oil production amount on the market is also great. The methods that can detect delayed causality have been utilized unlike the existing literature. While the Baltic Dirty Tanker Index (BDTI) and Baltic Clean Tanker Index (BCTI) variables are used as the measurement for the tanker freight rates, the Bloomberg oil production index variable is used as the production measurement. The data set used in the study consists of 239 monthly observations covering between August 1998 and June 2018. Standard causality analysis developed by Granger (1969) is used for linear causality, and nonparametric tests developed by Hiemstra and Jones (1996) and Diks and Panchenko (2006) are used for nonlinear causality analysis. While linear causality cannot be spotted in the obtained results, nonlinear causality is determined. As a result of the four lagged nonlinear causality analyzes made, the causality is found from the second to the fourth lag for BDTI and from the first to the fourth lag for BCTI. According to these results, while the effect of changes in production is directly reflected in the product tanker market, it is reflected on the dirty tanker market with a delay. It is hoped that these results may be beneficial to developing business strategies and reducing risks for shipowners and charterers in the tanker market.

Keywords:

Oil Production, Tanker Freight Market, Nonlinear Causality

JEL Classification:

C10, N70, R40

Full Text ( ↓ 2363)

Financial Development and Economic Growth Relationship: An Analysis with Credit Based Financial Index

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Article Information

Journal:	Business and Economics Research Journal
Title of Article:	Financial Development and Economic Growth Relationship: An Analysis with Credit Based Financial Index
Author(s):	Yesim Helhel
Volume:	9
Number:	4
Year:	2018
Page:	761-771
ISSN:	2619-9491
DOI Number:	10.20409/berj.2018.137

Abstract

Countries are classified under different group names because of their similarity to each other, and they are analyzed in that way by various international organizations. BRICS, MENA, G7 and Fragile Five are well known group names. In this study, the relationship between financial development and economic growth for Fragile five countries (Brazil, India, Indonesia, South Africa and Turkey) through the period of 2002-2016 were examined using annual data. In emerging market economies, businesses prefer to meet their financing needs by asking for credit from the capital market, mostly from banks and non-bank financial institutions. Therefore, it would not be wrong to say that financial system of Fragile Five countries is based on “lending financial institutions”. Within the framework of the analysis, financial development index which includes three data related with credit provided by banks and financial institutions, and national income per capita as an economic growth variable were taken into account. Panel co-integration, VECM, DOLS and FMOLS tests have revealed the existence of a unidirectional causality relation from growth towards financial development.

Keywords:

Credit Markets, Economic Growth, Fragile Five Countries, VECM, DOLS and FMOLS Tests

JEL Classification:

B26, G15, O16

Full Text ( ↓ 2407)

Foreign Direct Investment, Trade Openness and Economic Growth: A Panel Data Analysis for Sub-Saharan Africa

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Article Information

Journal:	Business and Economics Research Journal
Title of Article:	Foreign Direct Investment, Trade Openness and Economic Growth: A Panel Data Analysis for Sub-Saharan Africa
Author(s):	Mehmet Cinar, Ndzembanteh Aboubakary Nulambeh
Volume:	9
Number:	4
Year:	2018
Page:	749-760
ISSN:	2619-9491
DOI Number:	10.20409/berj.2018.136

Abstract

This paper examines the impact of foreign direct investment and trade openness on economic growth for 34 Sub-Saharan African countries. The methodology involves estimating the augmented endogenous growth model using panel data that runs from 2006 to 2015. The coefficients of the estimated REM model are statistically significant with all the signs compatible as expected. Our findings show that all the variables are significant in explaining SSA growth. Specifically, foreign direct investment and trade openness positively impact growth except inflation with a negative effect on growth. This study will assist the policymakers to increase effort towards the creation of favorable business climate that attract more foreign direct investment to SSA and enhance long-term growth.

Keywords:

Foreign Direct Investment (FDI), Trade Openness, Economic Growth, SSA, Panel Data

JEL Classification:

C33, F21, O40, O47

Full Text ( ↓ 3193)

The Validity of Purchasing Power Parity Hypothesis in E-7 Countries: Panel Data Analysis

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Article Information

Journal:	Business and Economics Research Journal
Title of Article:	The Validity of Purchasing Power Parity Hypothesis in E-7 Countries: Panel Data Analysis
Author(s):	Ali Altiner, Eda Bozkurt
Volume:	9
Number:	4
Year:	2018
Page:	735-747
ISSN:	2619-9491
DOI Number:	10.20409/berj.2018.135

Abstract

The exchange rates are one of the most important macroeconomic variables influencing the economic activities of any country such as foreign trade, money and capital markets. From this aspect, examining the changes in exchange rates, which are considered as one of the indicators of economic stability, is of significant importance. The aim of this study is to test the purchasing power parity (PPP) hypothesis for E-7 countries between 1994 and 2017. Within the scope of this analysis, firstly the dependence between the cross-sections was examined. Then, the validity of PPP hypothesis was tested using SURADF (Seemingly Unrelated Augmented Dickey Fuller) panel unit root test developed by Breuer et al. (2001) and Carrion-i-Silvestre et al. (2005) panel unit root test (PANKPSS), which takes the structural breaks into consideration. According to the results of SURADF test, it was determined that the PPP is holds only in Russia and Turkey, but not in the other countries. According to the results of PANKPSS unit root test considering the structural breaks, however, it was found that PPP is holds in all the countries.

Keywords:

Purchasing Power Parity, Real Exchange Rate, E-7 Countries, Panel Unit Root Test, Structural Breaks

JEL Classification:

C01, F31

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Usability of Time Driven Activity Based Costing Methods in the Budgeting Process of SMEs

Posted on Thursday August 2nd, 2018Saturday October 27th, 2018 by

Article Information

Journal:	Business and Economics Research Journal
Title of Article:	Usability of Time-Driven Activity-Based Costing Methods in the Budgeting Process of SMEs
Author(s):	Engin Meric, Mustafa Gersil
Volume:	9
Number:	4
Year:	2018
Page:	961-978
ISSN:	2619-9491
DOI Number:	10.20409/berj.2018.134

Abstract

In this study budget and cost calculations, which can be applied by producer Small and Medium-sized Enterprises (SME), have been emphasized to contribute producer SME’s having longer lifespans in today’s conditions of high competition. Nowadays when we act on the fact that the budget and cost calculations are inadequate in SMEs, it is intended to be a useful work that can be implemented and contribute to the achievement of the objectives to managers. In the studies carried out, it is overemphasized on the interrelated studies of budget, product based costs and production targets (productivity). In product-based cost calculations, the most up-to-date approach in the distribution of manufacturing overhead costs was made using the Time-Driven Activity- Based Costing (TDABC) method. In consequence of the application study, the idle capacity was determined and the productivity results were obtained with the improvement studies. Finally, the findings were interpreted and the suggestions were made.

Keywords:

SME, Budget, Cost, Time Driven Activity Based Costing, Idle Capacity, Productivity

JEL Classification:

M40, M41

Full Text ( ↓ 2867)

An Analysis on Domestic Violence against Women in Turkey: Multinomial Logit Model

Posted on Sunday July 29th, 2018Monday July 30th, 2018 by

Article Information

Journal:	Business and Economics Research Journal
Title of Article:	An Analysis on Domestic Violence against Women in Turkey: Multinomial Logit Model
Author(s):	Ozlem Ayvaz Kizilgol, Evren Ipek
Volume:	9
Number:	3
Year:	2018
Page:	715-733
ISSN:	2619-9491
DOI Number:	10.20409/berj.2018.133

Abstract

The present study empirically evaluates the socio-economic factors that affect the domestic violence against women in Turkey. The types of violence against women was examined with the Multinomial Logit Model (MNLM) by the use of data received from the Survey on Domestic Violence against Women in Turkey, which was performed by Turkish Statistical Institute for the year 2014. Empirical results show that physical and sexual violence raises as the women’s age increase; and if the educational status of the women and their husbands was at and above university level, women faced less domestic violence. The results indicate that employment of women and husband did not have any significant effects on physical violence and economic and emotional violence. It is observed that if women had their own income or earning, they received less economic and emotional violence; and health insurance for women reduced the possibility of all types of violence. The results reveal that women living in urban areas were exposed to any type of violence more than those living in rural areas; and the bad habits of spouse (alcohol, gambling and drugs) increased every type of violence against women.

Keywords:

Domestic Violence against Turkish Women, Physical Violence, Sexual Violence, Economic and Emotional Violence, MNLM

JEL Classification:

D63, J12, C25

Full Text ( ↓ 2602)

An Investigation on University Students’ Emoji Usage and Their Attitudes Toward Brands Using Emoji

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Article Information

Journal:	Business and Economics Research Journal
Title of Article:	An Investigation on University Students’ Emoji Usage and Their Attitudes Toward Brands Using Emoji
Author(s):	Ramazan Kurtoglu, Tugba Ozboluk
Volume:	9
Number:	3
Year:	2018
Page:	697-713
ISSN:	2619-9491
DOI Number:	10.20409/berj.2018.132

Abstract

The question whether the emoji that is considered to fill an important gap in digital communication by being used as a nonverbal communication cue, has an effect on the attitudes toward brands and word of mouth communication is the main starting point of this research. Aim of this study is to determine whether the emoji usage of university students (both generally and according to gender) affect their attitude toward the brands using emoji, and if this attitude affect their positive word of mouth communication about these brands. Data were collected from university students by a questionnaire and analyzed by using structural equation modeling. The results show that emoji usage of students (both generally and according to gender) has a statistically significant and positive effect on the attitudes toward brands using emoji, and these attitudes have positive and significant effects on their positive word of mouth communication. Besides this, it was also found that the aforementioned effects did not show a statistically significant difference according to gender.

Keywords:

Emoji, Emoji Usage, Attitude Toward Brand, Positive Word of Mouth, Structural Equation Model

JEL Classification:

M30, M31

Full Text ( ↓ 2615)

The Effects of Leadership Behaviors on Employees’ Change Capacity: A Research Study

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Article Information

Journal:	Business and Economics Research Journal
Title of Article:	The Effects of Leadership Behaviors on Employees’ Change Capacity: A Research Study
Author(s):	Ercan Ergun, Koray Yalcinkaya
Volume:	9
Number:	3
Year:	2018
Page:	681-696
ISSN:	2619-9491
DOI Number:	10.20409/berj.2018.131

Abstract

The aim of this study is to investigate the effect of the behavior of leaders on the change potential of employees in organizational changes taking place at firms. The research data was collected from 140 employees in 17 manufacturing companies operating around Kocaeli Industrial Region performing organizational change. From these employees, the data collected by the questionnaire were analyzed in the research framework. The relationship between the dimensions of leadership behavior and the dimensions of change capacity of employees relations have been examined. The findings show that there is a significant relationship between change-oriented leadership behavior features open to change and emotional readiness of employees. Relationship-oriented leadership behavior is the highly important factor to increase of cognitive readiness and intentional readiness for change of employees.

Keywords:

Leadership, Change, Readiness for Change

JEL Classification:

D23, M10, M19

Full Text ( ↓ 4073)

The Effect of Employees Emotional Intelligence Skills on Perceptions Quality of Work Life: Example of Turkey And Azerbaijan

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Article Information

Journal:	Business and Economics Research Journal
Title of Article:	The Effect of Employees Emotional Intelligence Skills on Perceptions Quality of Work Life: Example of Turkey And Azerbaijan
Author(s):	Sabina Mustafayeva, Ferda Ustun
Volume:	9
Number:	3
Year:	2018
Page:	665-680
ISSN:	2619-9491
DOI Number:	10.20409/berj.2018.130

Abstract

The aim of this study, in which employees ’emotional intelligence skills and perceptions of business quality of life are assessed in a holistic approach, determines the impact of employees’ perceptions of emotional intelligence skills on perceived quality of work. The sample of the research is composed of academic staff of Azerbaijan State Agricultural University and Nevsehir Haci Bektas Veli University (n=231). Another goal of the research is to determine whether the perceptions of emotional intelligence and quality of life differ between the employees of these two countries. Society, the academicians working on behalf of countries and the development of science, need to be competent in directing their relations with other individuals and their surroundings. In this sense, it is important to determine the effect of the talents of the academicians on their perceptions about the quality of work life. The perception of business quality, which plays an important role in helping academics cope with the exhausting and stressful cycle of business life, will only be possible with a high emotional intelligence. Findings showed that the perceptions of academics working quality of work life in Turkey is higher than those working in Azerbaijan have been identified. It was also found that sociability, which is one of the emotional intelligence skills in both countries, has a positive effect on the perception of the quality of work life.

Keywords:

The Emotional Intelligence, The Quality of Work Life, Turkey, Azerbaijan

JEL Classification:

L20, D23, M10

Full Text ( ↓ 2230)

Does The Perception of Job Insecurity Bring Emotional Exhaustion? The Relationship between Job Insecurity, Affective Commitment and Emotional Exhaustion

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Article Information

Journal:	Business and Economics Research Journal
Title of Article:	Does The Perception of Job Insecurity Bring Emotional Exhaustion? The Relationship between Job Insecurity, Affective Commitment and Emotional Exhaustion
Author(s):	Gokhan Kerse, Daimi Kocak, Sefik Ozdemir
Volume:	9
Number:	3
Year:	2018
Page:	651-663
ISSN:	2619-9491
DOI Number:	10.20409/berj.2018.129

Abstract

This studyexamines the effect of job insecurity on the level of emotional exhaustion and the role of affective commitment level on this influence. The survey (was conducted on 136 employees of a company operating in the manufacturing sector. Data were collected by questionnaire technique. In the process of analyzing the data was used SPSS and AMOS packaging programs.Structural equation modeling analysis was used to test the hypotheses developed in the research. The findings of the analysis showed that job insecurity effects affective commitment in the negative direction and emotional exhaustion in the positive direction. In addition, it has been determined that affective commitment plays a partial mediating role on the effect of job insecurity on emotional exhaustion. In other words; job insecurity affectsemotional exhaustion both directly and through affective commitment. The findings in the research are thought to contribute to both the literature and the business managers.

Keywords:

Job Insecurity, Affective Commitment, Emotional Exhaustion

JEL Classification:

D23, M10

Full Text ( ↓ 2174)