Manuscript2 – Page 44 – BUSINESS AND ECONOMICS RESEARCH JOURNAL

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Stability of Money Demand Function in Turkey

Posted on Wednesday March 15th, 2017Saturday March 18th, 2017 by

Article Information

Journal:	Business and Economics Research Journal
Title of Article:	Stability of Money Demand Function in Turkey
Author(s):	Oguz Tumturk
Volume:	8
Number:	1
Year:	2017
Page:	35-48
ISSN:	1309-2448
DOI Number:	10.20409/berj.2017126243

Abstract

The purpose of this study is to investigate the money demand function and its stability in Turkey using annual data over the period of 1970 and 2013. Based on the three specifications of money demand function, cointegration and the dynamic regression estimation results reveal that more flexible version of money demand specification that links the log of real money balances, ln M/P, to the log of real GDP, ln Y/P, and the log of the nominal interest rate, lni, performs better than the money demand specifications assuming unitary income elasticities. Moreover, based on the stability test on the flexible specification of money demand, the narrow monetary aggregate M1 is found to be stable.

Keywords:

Money Demand, Income and Interest Elasticities, Stability, Dynamic OLS

JEL Classification:

E41, E52

Full Text ( ↓ 3144)

The Causality Link Between Electricity Consumption and Economic Growth in Turkey: Evidence from ARDL Bounds Testing Procedure

Posted on Tuesday March 14th, 2017Saturday March 18th, 2017 by

Article Information

Journal:	Business and Economics Research Journal
Title of Article:	The Causality Link Between Electricity Consumption and Economic Growth in Turkey: Evidence from ARDL Bounds Testing Procedure
Author(s):	Ugur Korkut Pata, Harun Terzi
Volume:	8
Number:	1
Year:	2017
Page:	19-33
ISSN:	1309-2448
DOI Number:	10.20409/berj.2017126242

Abstract

Electricity consumption is regarded as an indicator of welfare in both developing and developed countries. In this study, the causality link between net electricity consumption and economic growth in the Turkish economy is investigated by the 55 annual observations covering the period from 1960 to 2014. According to the results of UVAR and ARDL analysis resolved with both AIC and SIC information criteria, there is a positive unidirectional and statistically significant causality moving from net electricity consumption to economic growth in the short/long run. The empirical results indicate that the energy led-growth hypothesis is valid for Turkey, that is growing net electricity consumption positively stimulates the economic growth in the short/long run.

Keywords:

Electricity Consumption, Economic Growth, ARDL, Bounds Test, Turkey

JEL Classification:

C22, Q43, Q48

Full Text ( ↓ 2444)

Total Factor Productivity and Efficiency in OECD Countries: Possibility of Convergence in 2000-2012 Period

Posted on Tuesday March 14th, 2017Saturday March 18th, 2017 by

Article Information

Journal:	Business and Economics Research Journal
Title of Article:	Total Factor Productivity and Efficiency in OECD Countries: Possibility of Convergence in 2000-2012 Period
Author(s):	Aziz Kutlar, Ali Kabasakal, Ahmet Gulmez
Volume:	8
Number:	1
Year:	2017
Page:	1-18
ISSN:	1309-2448
DOI Number:	10.20409/berj.2017126241

Abstract

This study discusses efficiency, productivity, and the existence of convergence in 34 OECD countries between 2000 and 2012. Physical capital per worker and human capital per worker are used as inputs to determine total factor productivity and efficiency scores in data envelopment analysis while GDP per worker is used as the output. Efficiency scores observed in CCR and BCC models indicate that Latin American and Eastern European countries are more efficient. Analysis of productivity by using the Malmquist Index indicates that productivity was positive but increased less than 1 percent at the end of the period. Panel regression estimation is used for standard deviations of convergence and to determine beta convergence. If GDP per worker is (yi), there is convergence between log(yi/yi,t-T,) and starting values log(yi,t-T); however, the convergence effect of TFP values could not be determined. Similar results are reported for Sigma convergence.

Keywords:

Panel data, Malmquist Index, TFP, OECD countries, Convergence

JEL Classification:

C23, C43, D24, O47

Full Text ( ↓ 2924)

The Role of Accounting and Marketıng in Calculating Customer Lifetime Value on Key Account Management in B2B/Industrial Markets

Posted on Friday October 21st, 2016Wednesday October 26th, 2016 by

Article Information

Journal:	Business and Economics Research Journal
Title of Article:	The Role of Accounting and Marketıng in Calculating Customer Lifetime Value on Key Account Management in B2B/Industrial Markets
Author(s):	Vedat Ekergil, Nezihe Figen Ersoy
Volume:	7
Number:	4
Year:	2016
Page:	159-180
ISSN:	1309-2448
DOI Number:	10.20409/berj.2016422345

Abstract

Customer lifetime value is a concept which many academics and in practice many marketing managers are working on for a long time. The main objective of the customer lifetime value is to determine the degree of importance of customers for the company. Answers of questions such as; how much the company should invest to which customer, what kind of marketing strategies should it prefer for which customer and which campaigns should it organize; can be determine by calculating the customer lifetime value. Many academics have proposed several models for the calculation of Customer lifetime value. But there is not any judgement in the literature about which types of models provide superior results. The purpose of this study is to create a cluster between customers with examining some of the models deemed suitable for the selected sector in the literature, result of the calculations, using the same database and variables.

Keywords:

Customer, Customer Lifetime Value, Key Account, Accounting of Marketing, Segmentation

JEL Classification:

M31, M40, M41

Full Text ( ↓ 2759)

Impact of New Standard “IFRS 16 Leases” on Statement of Financial Position and Key Ratios: A Case Study on an Airline Company in Turkey

Posted on Friday October 21st, 2016Wednesday October 26th, 2016 by

Article Information

Journal:	Business and Economics Research Journal
Title of Article:	Impact of New Standard “IFRS 16 Leases” on Statement of Financial Position and Key Ratios: A Case Study on an Airline Company in Turkey
Author(s):	Meryem Öztürk, Murat Serçemeli
Volume:	7
Number:	4
Year:	2016
Page:	143-157
ISSN:	1309-2448
DOI Number:	10.20409/berj.2016422344

Abstract

The studies regarding the changes made related to the accounting for lease have taken its final status with the publication of IFRS16 Lease Standard as a result of a long time and effort in January 2016. The related Standard shall ensure (1) the reporting of all the leases in the same way, (2) the displaying of the unrecorded leases in the financial statements and therefore, (3) the submission of more transparent, correct and comparable information. The purpose of our study is to examine the statement of financial position of the lessee enterprise after the transition to the new financial reporting standard IFRS 16 and the impacts of the change in the basic ratios. For this purpose, the impacts possible to occur in the financial position of an airline company having activities in Turkey as a result of the application of the related standard have been examined. The results of the study show that the reflection of the operating leases on the balance sheet shall cause to significant increases in the assets and liabilities and for this reason; there shall be a significant increase in the ratio of liability/asset and a significant decrease return on asset.

Keywords:

IFRS16, IAS 17, Operating Leases, Financial Leases, Off Balance Sheet Financing

JEL Classification:

M40, M41, M48

Full Text ( ↓ 7560)

The Effects of Interactions between Management Control Systems and Strategy on Firm Performance: An Empirical Study

Posted on Friday October 21st, 2016Wednesday October 26th, 2016 by

Article Information

Journal:	Business and Economics Research Journal
Title of Article:	The Effects of Interactions between Management Control Systems and Strategy on Firm Performance: An Empirical Study
Author(s):	Melek Eker, Semih Eker
Volume:	7
Number:	4
Year:	2016
Page:	123-141
ISSN:	1309-2448
DOI Number:	10.20409/berj.2016422343

Abstract

In recent years, there has been growing interest in examining the relationships among management control systems, business strategy and firm performance. In this study, the interactions of management control systems and strategy with their impact on firm performance are examined with an empirical analysis, based on the data from 94 manufacturing firms from the top 500 in Turkey in 2014. The results support the postulate that high interaction between interactive control system (ICS) and differentiation strategy (DS) is associated with high firm performance and that high interaction between diagnostic control system (DCS) and cost leadership strategy (CS) is associated with high firm performance.

Keywords:

Business Strategy, Diagnostic Control System, Interactive Control System, Financial Performance, Non-Financial Performance, General Firm Performance

JEL Classification:

M10, M40

Full Text ( ↓ 4142)

The Effects of E-Retail Service Quality on Repurchase Intention

Posted on Friday October 21st, 2016Wednesday October 26th, 2016 by

Article Information

Journal:	Business and Economics Research Journal
Title of Article:	The Effects of E-Retail Service Quality on Repurchase Intention
Author(s):	Melih Başkol
Volume:	7
Number:	4
Year:	2016
Page:	107-121
ISSN:	1309-2448
DOI Number:	10.20409/berj.2016422342

Abstract

The purpose of this study is to investigate the dimensions of e-retailing service quality and the affects of e-retailing service quality on customer’s repurchase intention. Appropriate measures which are based on literature were used and tested 358 studens of Bartın University faculty of Economics and Administrative Sciences by questionnaire survey and suryey results were analysed by using Structural Equation Modelling. The results of our analysis showed that e-retailing service quality can be theorised as a composite of six dimensions of ease of use, reliability, customer service, order condition, order accuracy, timeliness of order delivery. The results also showed that ease of use, customer service and order condition have strong affects on e-retailing service quality. Second section of the study confirmed that e-retailing service quality has positive and strong affect on customer repurchase intention.

Keywords:

E-Service Quality, Service Quality, Repurchase Intention, E-Retailing, Retailing

JEL Classification:

M30, M31

Full Text ( ↓ 2611)

Analysis of Service Recovery Failure: From Minority Perspective

Posted on Friday October 21st, 2016Wednesday October 26th, 2016 by

Article Information

Journal:	Business and Economics Research Journal
Title of Article:	Analysis of Service Recovery Failure: From Minority Perspective
Author(s):	Yasemin Ocal Atinc
Volume:	7
Number:	4
Year:	2016
Page:	97-106
ISSN:	1309-2448
DOI Number:	10.20409/berj.2016422341

Abstract

We investigate the service failures towards diverse customer groups for the purpose to bring insightful proposals to the managers to recover from these failures. Previous literature provided insights regarding the perception of service failures by minorities and the challenge of recovery due to racial implications driven from the failure, however lacked to propose suggestions for the managers so that they can take either corrective steps toward service failure recovery or prevent service failure through an effective training program. In this conceptual paper, we propose that, when the service provider and the customer are from different races, and the customer experiences a service failure, without the understanding of the process, service recovery is very hard to achieve. Race is an important factor in intention to bring the customer back for repurchase. The main contribution of this research is adding the race factor and the understanding of the service process into the model.

Keywords:

Service Failure, Service Recovery, Consumer Behavior, Minority Marketing, Race difference

JEL Classification:

M10, M30

Full Text ( ↓ 2492)

The Effect of Creative Class on Economic Development of Cities: The Case of Turkey

Posted on Friday October 21st, 2016Wednesday October 26th, 2016 by

Article Information

Journal:	Business and Economics Research Journal
Title of Article:	The Effect of Creative Class on Economic Development of Cities: The Case of Turkey
Author(s):	Habibe Günsel Doğrul, Mediha Mine Çelikkol, Naci Murat
Volume:	7
Number:	4
Year:	2016
Page:	79-95
ISSN:	1309-2448
DOI Number:	10.20409/berj.2016422340

Abstract

Economic power of cities depends on their human capital as much as their pyhsical capital. Florida’s hypothesis about Creative Class is tested in this study in the context of Turkey. For this purpose, we examine the relationsip between alternative mesures of human capital and regional development applying structural equation models and path analysis. Our results confirm Florida’s hypothesis that high level of creativity fosters regional economic development. Evidence also suggest that total creative class seems to be better measurement than education in accounting for regional development across Turkish cities. In addition, our results suggest that while there is statistically significant association between the distribution of creative class and the presence of artistically culturally creative individuals (bohemians), there is no significant association with consumer amenities and university. As a result, Florida’s hypothesis does not completely explain the distribution of creatives in the Turkish context.

Keywords:

Human Capital, Creative Class, Regional Economic Development, Technology, Path Analysis and Structural Equations Model

JEL Classification:

J24, R10, R20, O30

Full Text ( ↓ 2588)

Analysis of Volatility in Gold Prices with the Markov Regime-Switching Models

Posted on Friday October 21st, 2016Wednesday October 26th, 2016 by

Article Information

Journal:	Business and Economics Research Journal
Title of Article:	Analysis of Volatility in Gold Prices with the Markov Regime-Switching Models
Author(s):	Samet Evci, Nazan Şak, Gökben Adana Karaağaç
Volume:	7
Number:	4
Year:	2016
Page:	67-77
ISSN:	1309-2448
DOI Number:	10.20409/berj.2016422339

Abstract

Aim of this study is to determine winning and losing periods with Markov regime-switching models in the gold market. Monthly return data of BIST and London gold markets are used for the period July 1995-July 2015. Results show that Markov regime-switching models are more suitable than the linear model for analyzing the gold returns and also the probabilities of remaining within the same regime are high for the gold returns. Another finding is that two months lagged value of London gold returns affect BIST gold returns.

Keywords:

Gold Price, Markov Regime-Switching Models, Time Varying Markov Regime-Switching Models, Turkey

JEL Classification:

C22, G11, 050

Full Text ( ↓ 2752)