Article Information

Journal: Business and Economics Research Journal
Title of Article: Unemployment and Trade: Generalized Method of Moments-Dynamic Panel Data Approach for Regions of Turkey
Author(s): Giray Gozgor, Ali Piskin
Volume: 2
Number: 3
Year: 2011
Page: 121-138
ISSN: 1309-2448

Abstract

In the study, the relationship between unemployment rates of regions of Turkey and regions’ share in trade volume are analyzed by taking into account annual data of 26 regions that are defined as NUTS2 by Turkish Statistical Institute for the period of 2004-2009. The share of regions in trade volume denotes rate of trade volumes of the cities included by the region in Turkey’s total trade volume. After the necessary tests are applicated to satisfy assumptions, fixed effect panel data and generalized method of moments are used for consistent and efficient estimation. In conclusion, in determining unemployment rates of the regions, positive correlation is found between lag of unemployment rates and related periods’ unemployment rates. Meanwhile, when shares of the regions in trade volume increase, unemployment rates decrease. Also the dummy variables that are indicating the financial global crisis and border trading regions effect after September 2008 are significant.

Keywords:International trade, Unemployment, Regional unemployment, Method of fixed effect panel data, Generalized method of moments.

JEL Classification:C23, E24, F16

Article Information

Journal: Business and Economics Research Journal
Title of Article: Investigating Occupational Commitment and Turnover Intention Relationship with Burnout Syndrome
Author(s): Aydem Ciftcioglu
Volume: 2
Number: 3
Year: 2011
Page: 109-119
ISSN: 1309-2448

Abstract

This study investigates burnout components impact on accountant’s occupational commitment and occupational turnover intention interaction. The data used in this study was taken from randomly selected 162 accountants who are the members of Istanbul Chambers of Certified Public Accountants (ICCPA). The results reveal that only emotional exhaustion component of burnout has partial mediating effect between affective occupational commitment and occupational turnover intention.

Keywords:Affective occupational commitment, Burnout, Emotional exhaustion, Depersonalization, Personal accomplishment, Turnover intention

JEL Classification:M10, M12

Article Information

Journal: Business and Economics Research Journal
Title of Article: The Perception of the Employees toward the Outcomes and Detriments of Performance Appraisal System
Author(s): Ibrahim Sani Mert
Volume: 2
Number: 3
Year: 2011
Page: 87-108
ISSN: 1309-2448

Abstract

Although performance appraisal is one of the most important functions of human resources management, it can not be said that the organizations have obtained the full benefit from performance appraisal system as they expected. Lack of enough investigation about employees’ perception toward the effectiveness of the performance appraisal system can be mentioned as one of the reasons. The perception of employees toward the effectiveness of performance appraisal system helps human resources employees and researchers to obtain the benefit expected from performance appraisal system. Therefore, the employees’ perception of the outcomes and detriments of an effective performance appraisal system were investigated in this research. According to the findings of the study, the perceptions of employees toward the performance appraisal system have an effect on their thoughts of their own appraisals. Besides, it was determined that women perceive the performance appraisal system as more effective than men and the employees who work as a manager have a more sensitive perception toward the detriments of performance appraisal systems than who do not. It is thought that, the findings of this research may be beneficial to both the researchers who study performance appraisal and human resources employees to evaluate the effectiveness of performance appraisal systems.

Keywords:Performance, Performance appraisal, Performance Appraisal System (PAS), Effectiveness of PAS, Performance perception.

JEL Classification:M12, D23

Article Information

Journal: Business and Economics Research Journal
Title of Article: The Roles of Self-efficacy and Locus of Control in the Intrapreneurship
Author(s): Fatih Cetin
Volume: 2
Number: 3
Year: 2011
Page: 69-85
ISSN: 1309-2448

Abstract

The purpose of this study was to discover the role of the self efficacy and locus of control on the process of intrapreneurship. The data were collected from 211 employees working in the information sector with using the Intrepreneurship Scale, Self-efficacy Scale and Locus of Control Scale. The results of the structural model showed that there are negative relationship between locus of control and the innovativeness (β=-0,12, p<0,01), risk taking (β=-0,11, p<0,01) and expanding network (β=-0,10, p<0,01) as the dimensions of the intrapreneurship. Moreover it was revealed that there are positive relations between the self efficacy and the innovativeness (β=0,25, p<0,01), proactivity (β=0,22, p<0,01), risk taking (β=0,17, p<0,01), autonomy (β=0,19, p<0,01) and expanding network (β=0,16, p<0,01). Ultimately, these findings determined the important roles of the people in high self-efficacy and internal locus of control on the success of the intrapreneurship processes.

Keywords:Intrapreneurship, Locus of control, Self-efficacy, Personality, Survey method, Structural equation modeling

JEL Classification:M19, C830

Article Information

Journal: Business and Economics Research Journal
Title of Article: Global Economic Crisis and Career Aspirations among ‘Okada’ Riders in Nigeria: The Influence of Apprenticeship Skills Training
Author(s): Oluranti I. Ogunrinola
Volume: 2
Number: 3
Year: 2011
Page: 51-67
ISSN: 1309-2448

Abstract

In spite of their usefulness as fast movers of passengers and goods in urban traffic congestion, the motor-cycle taxis have been noted for high rate of road traffic crashes inflicting injuries to many and death in some cases. Thus, a number of operators are in the occupation for other purposes rather than making it a lifetime career. This study is therefore aimed at examining such other purposes and future career aspirations of riders. It is also aimed at testing the hypothesis of the probabilistic migration model as propounded by Todaro. The data for the study is from a survey of 777 okada riders in two states of South West Nigeria. Using binary logit regression approach, the determinants of career choice among respondents are examined. The findings of the study shows employment as okada riders are for raising start-up capital in most cases, and that education, current earnings level and apprenticeship skills training among others are statistically significant variables affecting career aspiration among the respondents. Provision of commensurate employment for the educated youths and relaxing capital constraints for those with previous skills training are some of the policy implications of findings.

Keywords:‘Okada’, Self-Employment, Unemployment, Motor-Cycle Taxi, Informal Sector

JEL Classification:J21, J24

Article Information

Journal: Business and Economics Research Journal
Title of Article: Professional Knowledge and Skills Required for Accounting Majors Who Intend to Become Auditors: Perceptions of External Auditors
Author(s): Ali Uyar, Ali Haydar Gungormus
Volume: 2
Number: 3
Year: 2011
Page: 33-49
ISSN: 1309-2448

Abstract

This research aims to ascertain the professional knowledge and the skills/attributes that are considered important by external auditors for a graduate who intends to be an auditor. For this purpose, we conducted a survey on external auditors in Turkey. The research has two dimensions: skills dimension (twenty one items) and professional knowledge dimension (twenty four items). The results indicated that all skills except “knowledge of accounting software” are perceived to be important or very important for the auditing profession. Among the most important skills that graduates are expected to possess are ethics, teamwork, and honesty. The results also demonstrated that some courses are perceived to be extremely necessary, e.g. Auditing, Microsoft Office Programs, Accounting and Financial Reporting Standards, Financial Statement Analysis, Financial Accounting, Capital Market Board Regulations, Cost Accounting, and Managerial Accounting. In addition, cross analyses indicated that there are significant differences among subgroups based on gender, education, auditing firm, experience, and job title.

Keywords:Accounting education, Auditing, Skills, Professional knowledge, External auditors

JEL Classification:M41, M42

Article Information

Journal: Business and Economics Research Journal
Title of Article: The Corporate Social Responsibility Disclosure: A Study of Listed Companies in Bangladesh
Author(s): Md. Abdur Rouf
Volume: 2
Number: 3
Year: 2011
Page: 19-32
ISSN: 1309-2448

Abstract

This is an exploratory study designed to investigate the extant and nature of corporate social responsibility disclosure (CSRD) in corporate annual reports (CAR) of listed companies in Bangladesh. Specifically, the report examines the relationship between corporate attributes and firm-specific factors and corporate social responsibility disclosures. Data are taken from annual reports of 2007 of the listed companies of Dhaka Stock Exchanges. The study uses ordinary least squares regression model to examine the relationship between explanatory variables and corporate social responsibility disclosure and un-weighted relative disclosure index to measure voluntary disclosure. The extent of CSRD level is measured using 39 items of information. The result shows a positive association between proportion of Independent Directors (INDs) and Corporate Social Responsibility Disclosure (CSRD). But, size of the firm does not affect the level of corporate social responsibility disclosure. Control variables suggest that Board Leadership Structure (BLS), Board Audit Committee (BAC) and Percentage Return on Equity (PROE) are positively associated with company’s corporate social responsibility disclosure (CSRD). The result shows that a higher proportion of independent non-executive directors on a board is positively related to the level of corporate social responsibility disclosure but the extent of corporate social responsibility disclosure is negatively related for firm’s size.

Keywords:Corporate Social Responsibility, Disclosure, Voluntary disclosure, Corporate Governance, Annual Report

JEL Classification:M14, M40

Article Information

Journal: Business and Economics Research Journal
Title of Article: The Comparison of Volatility Forecasting Models in VaR Calculations and Backtesting according to Basel II: An Application on ISE 100 Index
Author(s): Turhan Korkmaz, Ahmet Bostanci
Volume: 2
Number: 3
Year: 2011
Page: 1-17
ISSN: 1309-2448

Abstract

For determining the Value-at-Risk number with statistical models volatility must be the primary calculation. There are different volatility estimation methods on VaR calculation. The traditional volatility estimation methods are inadequate for modeling “stylized facts” which are often observed on the financial price series. In this study, different volatility models are introduced and the differences are illustrated among each other. In the empirical application 14.5 years of daily closing values of ISE 100 Index are being used for estimating the different volatility models. Estimated volatility numbers are being used for calculating the VaR numbers and the results are tested by backtesting method based on Basel II. Among all calculations “Rolling window” method is used for updating parameters daily; specifically to determine the success of modeling special characteristics of financial price series and four different time periods are being used. According to the findings obtained, volatility clustering on financial price series, changing variance, leverage effect, peakedness is preferable to be modeled by advanced models such as EWMA and GARCH.

Keywords:Volatility, Basel II, Backtesting, Value-at-Risk

JEL Classification:C13, C52, G17

Article Information

Journal: Business and Economics Research Journal
Title of Article: Hisse Senedi Fiyatları ve Fiyat/Kazanç Oranı İlişkisi: Panel Verilerle Sektörel Bir Analiz
[Stock Prices and Price/Earning Ratio Relationship: A Sectoral Analysis with Panel Data]
Author(s): Mehmet Nargelecekenler
Volume: 2
Number: 2
Year: 2011
Page: 165 – 184
ISSN: 1309-2448

Abstract

In this study, we investigate with two different models that whether a meaningful relationship between price/earnings ratio and stock prices or not in the sectoral basis for the 2000-2008 period. We use one-way fixed effects models and test for low price/earnings ratio effect. According to the results, there is not relationship price/earnings ratio all sectors in ISE. Six months in certain sectors, certain sectors for the three-month period may be talking about such a relationship. Therefore, when we investing for relevance sector should be decided according to the model is valid. The estimated parameters show that there is low price/earnings ratio relationship is valid for all sectors, except the metal goods industry in a three-month period.

Keywords: Stock prices, Prices/earnings ratio, Panel data, Fixed effect, PCSE

JEL Classification: C23, C33, D33

Article Information

Journal: Business and Economics Research Journal
Title of Article: Girişimciler, Melek Yatırımcılar ve Risk Sermayesi Firmaları Arasında Kurulacak Bir Ağ, Bu Ağın Yapısı ve Önemi
[Establishing a Network among Entrepreneurs, Angle Investors and Venture Capital Firms, Structure and Importance of This Network]
Author(s): Suleyman Gokhan Gunay, Ahmet Basalp
Volume: 2
Number: 2
Year: 2011
Page: 153 – 164
ISSN: 1309-2448

Abstract

SMEs that operate in information technology (IT) sector need venture capital besides conventional financial techniques (capital, loans, etc.). Venture capitalists can be categorized into two groups as personal and institutional venture capitalists. Those who are individual venture capitalists are called angel investors. Institutional ones are called venture capital firms. When we look at the world, we come across to networks that gather angel investors and venture capital firms with entrepreneurs. Development of IT sector, which is very important in the development of our country, is closely related with the establishment of similar networks. In this study, in-depth interviews are conducted with the managers and/or owners of thirty SMEs in Erciyes Technopark. This descriptive research determines how these networks can be established the role of technoparks in these networks, contribution of angle investors and venture capital firms to this type of network, and shows how entrepreneurs perceive these types of networks. Establishing a network is expected to provide cooperative behaviors, innovation and information flows. Corporations, technoparks and universities are considered to act as an intermediary in a virtual environment in order to establish this type of network.

Keywords: Venture capital, Angle investors, Network, New Economy, Technoparks

JEL Classification: M13, M21, O31