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The Impact of the Global Economic Crisis on the Turkish Labor Market: A Markov Transition Analysis

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

Article Information

Journal:	Business and Economics Research Journal
Title of Article:	The Impact of the Global Economic Crisis on the Turkish Labor Market: A Markov Transition Analysis
Author(s):	Elif Öznur Acar
Volume:	7
Number:	4
Year:	2016
Page:	51-66
ISSN:	1309-2448
DOI Number:	10.20409/berj.2016422338

Abstract

This study examines the impacts of the global economic crisis on the dynamics of the Turkish labor market, 2006-2009 Income and Living Conditions Survey (SILC) panel data set and Markov transition analysis. For this purpose, Markov probabilities of annual individual flows between four market labor market states of salaried employment, self-employment, unemployment and inactivity are compared across pre-crisis and crisis period. Further, the analysis is conducted for gender, age and education subcategories to analyze the extent and nature of the crisis on different labor market groups. The results show that the crisis has negatively affected the Turkish labor market, particularly through salaried employment and unemployment channels. During the crisis, the probability of becoming unemployed for salaried workers fell significantly, while the probability of remaining unemployed increased. Moreover, the probability of moving into employment decreased and that into unemployment rose for the inactive group. Women, low skilled and youth are found to be the most negatively affected from the crisis.

Keywords:

Labor Market Transitions, Labor Mobility, Global Economic Crisis, Markov Transition Process, Turkey

JEL Classification:

J11, J21, J60, J63

Full Text ( ↓ 2473)

The Effects of Institutional Structure on Economic Growth: An Application on G-20 Countries (1996-2014)

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

Article Information

Journal:	Business and Economics Research Journal
Title of Article:	The Effects of Institutional Structure on Economic Growth: An Application on G-20 Countries (1996-2014)
Author(s):	Ömer Yalçınkaya, Şekip Yazgan
Volume:	7
Number:	4
Year:	2016
Page:	31-49
ISSN:	1309-2448
DOI Number:	10.20409/berj.2016422337

Abstract

In parallel to the evolution of the economic growth theories regarding the main indicators of long term economic growth, this article econometrically analyses the long term effects of the institutional structure on the economic growth of G-20 countries with different development levels for the period of 1996-2014. In order to examine the impact of the institutional structure on economic growth more coherently and to compare the results, G-20 countries are included in the analysis under two sub-groups respectively as economically developed G-9 countries and developing G-10 countries. Thus the article aims to evaluate the impact of the institutional structure on the differentiation of the long term economic growth performances and economic development levels of the countries under the groups G-9 and G-10. The article concludes that, effects of the institutional structure indicators on the economic growth have been positive and significant in statistical terms in the sub-group G-9, while they have been usually negative and significant in sub-group G-10 during the period analysed. Nonetheless, the article indicates that, along with the physical and human capital accumulation, possession of different institutional structures are more effective in differentiation of the long term economic growth performances and development levels of the countries in the groups of G-9 and G-10 during the sample period.

Keywords:

Sustainable Growth, Institutional Structure, G-20 Countries, New Generation Panel Data Analysis

JEL Classification:

B22, C49, H00

Full Text ( ↓ 2515)

Asset Market Linkages in a Regime Switching Environment: Evidence from Commodity and Stock Markets in India

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

Article Information

Journal:	Business and Economics Research Journal
Title of Article:	Asset Market Linkages in a Regime Switching Environment: Evidence from Commodity and Stock Markets in India
Author(s):	Shelly Singhal, P.C. Biswal
Volume:	7
Number:	4
Year:	2016
Page:	17-29
ISSN:	1309-2448
DOI Number:	10.20409/berj.2016422336

Abstract

Time series models investigating the linkages between various asset markets (Commodity and Equity) in India have assumed a symmetric and linear relationship between them. They examine these interrelationships by assuming the presence of a uniform economic state. However the returns from commodity futures and stock market do not show a continuous trend but exhibit time varying behaviour i.e. the returns of stocks might be higher in a certain economic condition and it may fall as the economic environment changes due to financial crises, oil price rise, rupee depreciation etc. Similarly the return of commodities is also subject to variation with the changing economic conditions due to which the basic assumptions of stationary and linearity of time series models gets refuted. Therefore, this paper empirically examines the interrelationships between commodity futures (Energy, Metal and Agriculture) and stock markets in dynamic economic states by employing Markov Regime Switching model proposed by Hamilton (2005) which has the capability of capturing temporal asymmetries and nonlinear dynamics of time series. For each market a composite index indicating the overall movement and performance of a particular investment asset has been considered. In order to provide robust results this paper uses daily data from 2006 to 2014 which significantly represents different states in the Indian Economy. The result of the study confirms the impact of economic environment on Indian commodity and stock markets and validates the presence of two distinct regimes: a “tranquil regime” representing the state of economic expansion and a “crisis regime” representing the state of economic decline. Additionally, the result confirms that commodities and stock markets oscillate between high and low volatility regimes and this movement is different across different commodity class (Energy, Metal and Agriculture). In a portfolio, when commodity futures are combined with stock, due consideration must be given to the state varying behaviour of different asset class. However, previous studies on performance of commodity futures in context of portfolio have been done in a single time period/static context and therefore the results of the study provide interesting insights for investors and portfolio managers. By detecting the switching points in the economic states, they can rebalance their portfolio accordingly so as to reduce loss and enhance portfolio returns.

Keywords:

Commodity Market, Markov Regime Switching Model, Portfolio Management, Stock Market

JEL Classification:

G10, G11,C6, E30

Full Text ( ↓ 2441)

The Relationship between Aggregated–Disaggregated Energy Consumption and Economic Growth in Turkey

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

Article Information

Journal:	Business and Economics Research Journal
Title of Article:	The Relationship between Aggregated–Disaggregated Energy Consumption and Economic Growth in Turkey
Author(s):	Uğur Korkut Pata, Harun Terzi
Volume:	7
Number:	4
Year:	2016
Page:	1-15
ISSN:	1309-2448
DOI Number:	10.20409/berj.2016422335

Abstract

Energy is recognized as an important factor in the production process by capital and labor. Energy consumption has increased substantially in the world, especially since the Industrial Revolution and the 1973 oil crisis. In this study, the causality relationship between energy consumption (petroleum, electricity, per capita and total primary energy consumption, carbon dioxide emissions) and economic growth is estimated by using the JJ cointegration test, DLVAR, generalized impulse-response, and variance decomposition analyses for the Turkish economy for the 1972–2011 period. According to the results of the JJ cointegration test, there is no co-movement between energy consumption and economic growth in the long run, but the DLVAR analysis indicates that energy is an important input for the Turkish economy’s steady growth in the short run. The findings lead to the conclusion that a positive unidirectional causality runs from petroleum, electricity, primary energy consumption, and carbon dioxide emissions to economic growth in the short run. The results of generalized impulse-response and variance decomposition analyses also support the results of the DLVAR analysis.

Keywords:

Energy Consumption, Economic Growth, Dolado-Lütkepohl VAR, Causality, Turkey

JEL Classification:

C22, Q40, Q43

Full Text ( ↓ 2665)

Communication Problems Between Administration and Other Medical Personnel in Health Institutions: Example of Public Heath Management

Posted on Wednesday September 14th, 2016Friday September 16th, 2016 by

Article Information

Journal:	Business and Economics Research Journal
Title of Article:	Communication Problems Between Administration and Other Medical Personnel in Health Institutions: Example of Public Heath Management
Author(s):	Abdullah Soysal, Fedayi Yagar, Turgut Koz, Meryem Tunc
Volume:	7
Number:	3
Year:	2016
Page:	183-195
ISSN:	1309-2448
DOI Number:	10.20409/berj.2016321816

Abstract

In 2002, Turkey’s starting health on the transformation process management of the health system and organization, service delivery, on factors such as human resources and finance context reflections, it was tried to be assessed in light of data obtained from secondary sources and analyzed. In this respect, a study carried out to identify communication problems between administrator and other medical personel in Public Health Department of Kahramanmaraş and survey applied on 77 healthcare personnel. Analyses of information obtained by the data acquisition tools carried out using SPSS 15.0 software package. A statistically significant difference weren’t found between communication problems between administrator and healthcare personnel toward perceptions and gender, age, profession, experience, employment period in the institution, level of education and receiving a training on communication. This difference were just found between communication problems between administrator and healthcare personnel toward perceptions and position. As a result, managers doesn’t have problem with other personnel about communication but other personnel found to have problem with managers about communication.

Keywords:

Organizational Communication, Communication Problems, Health Institution, Health Employee, Director

JEL Classification:

I00, I10

Full Text ( ↓ 2916)

Examination on the Evolution and Differences of the Business Perception of the X and Y Generation Managers

Posted on Wednesday September 14th, 2016Friday September 16th, 2016 by

Article Information

Journal:	Business and Economics Research Journal
Title of Article:	Examination on the Evolution and Differences of the Business Perception of the X and Y Generation Managers
Author(s):	Sermin Senturan, Aslıhan Kose, E. Mine Dertli, Satenik Basak, Nesibe Senturk
Volume:	7
Number:	3
Year:	2016
Page:	171-182
ISSN:	1309-2448
DOI Number:	10.20409/berj.2016321815

Abstract

Developments in society have been succeeded by the generation structures and their reflections to the real life. When evaluated, these advancements have been practiced mainly by X and Y generations. When the organizations as the core of the economy are taken into account, the X and Y generation managers are important to determine the differences in perceptions and values of the business environment. In fact, this assessment will be guiding to determine the success of the organization in micro-economic aspect and to assess the fiscal prosperity providers of our country with a macro-economic perspective. In this study, perceptions of the business environment, influence and progress, autonomy and capability, financial conditions / working conditions and labor relations of the X and Y generations managers has been studied . 95 managers from different sectors have participated in the study. The research has proven that business value perception of Y Generation managers have been higher than the X Generation managers.

Keywords:

Business Values, Administrator X Generation, Y Generation, Work Job, Perception of Management, Differences Between Generations

JEL Classification:

M10, M12

Full Text ( ↓ 2389)

Demographic Factors that affect the Entreprenuership Intentions of Students in Tourism Department: Comparison of Two State Universities

Posted on Wednesday September 14th, 2016Friday September 16th, 2016 by

Article Information

Journal:	Business and Economics Research Journal
Title of Article:	Demographic Factors that affect the Entreprenuership Intentions of Students in Tourism Department: Comparison of Two State Universities
Author(s):	Gulsevim Yumuk Gunay
Volume:	7
Number:	3
Year:	2016
Page:	155-170
ISSN:	1309-2448
DOI Number:	10.20409/berj.2016321814

Abstract

Recently, entreprenuership is one of the most important subjects. Because most countries are aware that they can achieve economic development and growth by the help of entreprenuership. Therefore, these countries try to create tangible and intangible opportunities that would unfold entreprenuership potential. Turkey needs entreprenuers in tourism sector. It is important for Turkey to lead their students who studies in tourism department to entreprenuership because of abundance in touristic destinations and labor-intensive characteristics of the tourism sector. In this study, entreprenuership intentions of students in tourism departments at Afyon Kocatepe University and Trakya University are compared, and similarities and differences in students’ entreprenuership intentions are put forth. For this purpose, Cronbach Alpha is used to test the reliability of the study, and Kruskal Wallis analysis is conducted to test the impact of demographic factors on the entreprenuership intentions of students. The similarities of demographic factors that affect the students’ entreprenuership intentions of both universities are seen on the same age groups and same objectives (establishing their own businesses, not considering to work in state agencies), and differences are observed in terms of gender and grades (semester). One of the important findings of the study is that entreprenuership education at Trakya University affected the entreprenuership intentions of the students partially and for a short period of time.

Keywords:

Entrepreneur,Entrepreneurship, Entrepreneurship Intention

JEL Classification:

M16, M53

Full Text ( ↓ 2382)

Nostalgia from the Younger Generation Perspective: The Impact of Nostalgia Advertising on Postmodern Individuals

Posted on Wednesday September 14th, 2016Friday September 16th, 2016 by

Article Information

Journal:	Business and Economics Research Journal
Title of Article:	Nostalgia from the Younger Generation Perspective: The Impact of Nostalgia Advertising on Postmodern Individuals
Author(s):	Ebru Guzel, Elif Yolbulan Okan
Volume:	7
Number:	3
Year:	2016
Page:	137-154
ISSN:	1309-2448
DOI Number:	10.20409/berj.2016321813

Abstract

Companies need to find new branding and marketing strategies to overcome the problems rising from the intense competition in every sector and increasing consumer expectations. While searching for new tactics to attract consumers’ attention and moreover position their brand in the mind and hearts of their target groups, nostalgia and retro marketing offers many advantages. The rising trend of nostalgia in advertisements revealed the necessity of investigating effectiveness. The aim of this study is to determine the nostalgia trend among postmodern individuals who are born between 1980-1985, and analyze their approach to nostalgia theme used in advertisements. Survey method is used to examine the nostalgia proneness and effectiveness of nostalgia advertisements. According to findings, personal and interpersonal nostalgia is more prominent among respondents and nostalgia ads are effective in triggering consumers emotions rather than directing their consumer behavior.

Keywords:

Nostalgia, Nostalgia Advertising, Retro Advertising

JEL Classification:

M37, M30

Full Text ( ↓ 2811)

A Research on the Measurement of Consumer Based Brand Equity in Automobile Sector

Posted on Wednesday September 14th, 2016Friday September 16th, 2016 by

Article Information

Journal:	Business and Economics Research Journal
Title of Article:	A Research on the Measurement of Consumer Based Brand Equity in Automobile Sector
Author(s):	Cagatan Taskin
Volume:	7
Number:	3
Year:	2016
Page:	125-136
ISSN:	1309-2448
DOI Number:	10.20409/berj.2016321812

Abstract

In today’s consumer oriented markets, companies should have a privileged position in target markets’ memories in order to preserve and increase their market shares. Increasing intense competition forces companies to invest on their brands more. Companies should know the dimensions that affect consumer based brand equity and should form strategies that can improve these dimensions. There is severe competition in automobile sector like in other sectors. Automobile companies are evaluated to have sustainable strategic advantage if they find the most important dimensions that affect consumer based brand equity and improve them. The aim of this study is to explore the relationships between consumer based brand equity of a foreign automobile brand, and its dimensions by means of structural equation modeling and to propose marketing strategies according to the modeling results. Convenience sampling method is used in the research and 394 questionnaires are collected for the analysis. According to the research findings, it is obtained that after sales service has a positive impact on perceived quality and consumer based brand equity; brand associations and perceived quality dimensions have a positive impact on the brand loyalty and brand loyalty has a positive impact on consumer based brand equity.

Keywords:

Consumer Based Brand Equity, Structural Equation Modeling, After Sales Service, Automobile Sector, Bursa

JEL Classification:

M30, M31

Full Text ( ↓ 2147)

The Impact of Brand Value on Stock Returns: A Empirical Reseach on the BİST

Posted on Wednesday September 14th, 2016Friday September 16th, 2016 by

Article Information

Journal:	Business and Economics Research Journal
Title of Article:	The Impact of Brand Value on Stock Returns: A Empirical Reseach on the BİST
Author(s):	Ali Bayrakdaroglu, Cagatay Mirgen
Volume:	7
Number:	3
Year:	2016
Page:	111-123
ISSN:	1309-2448
DOI Number:	10.20409/berj.2016321811

Abstract

Brands and branding have come into prominence nowadays and become a must of products and services. This situation lead the need for calculation of brand value. Evaluation of brand value as a financial performance criteria in modern business brings if brand value has an impact on share earning into question. This study aims at presenting whether the brand value of a company affects the share earnings. For this, panel regression was performed considering the brand values and share earnings of companies selected from Brand Finance and İstanbul Stock Exchange. As a result, it was reached that there is a significant and positive relationship between brand value and share earning.

Keywords:

Value, Brand Value, Valuation Method of Brand, BİST, Panel Data Regression

JEL Classification:

C33, G12, G32, M31

Full Text ( ↓ 2524)