Article Information

Journal: Business and Economics Research Journal

Title of Article: Exploring the Role of Perceived External Prestige in Employee’s Emotional Appeal: Evidence from a Textile Firm

Author(s): Aydem Ciftcioglu

Volume: 1

Number: 4

Year: 1

Page: 85 – 96

ISSN: 1309-2448

Abstract

Perceived external prestige (PEP) is an new interesting topic in the organizational literature however limited study have sought to investigate its’ impacts on employees working attitudes. The purpose of this paper is to investigate PEP influence on employee’s emotional appeals toward working organization. The data used in this study taken from 200 employees which were worked in well-known textile industry firm. Employees’ commitment to their organization was assessed with the six-item affective commitment instrument which was developed by Meyer et.al. (1990, 1991) and individual’s organizational identification and PEP were measured by Mael and Ashforth (1992) six-item organizational identification and external prestige scale where job satisfaction assessed with Michigan Organizational Evaluation Scale’s shorten sub-scales (Spector, 1997). Hierarchical regression analysis was used to estimate the relationship between PEP and positive work variables relationship. The results showed that PEP was an impact on affective commitment by full mediating role of job satisfaction and organizational identification.

Keywords: Perceived external prestige, Affective commitment, Organizational identification, Job satisfaction, Reputation, Hierarchical regression analysis

JEL Classification: M10, M12

Article Information

Journal: Business and Economics Research Journal

Title of Article: AB’ye Doğrudan Yabancı Yatırım Girişlerini Belirleyen Faktörler: Dinamik Panel Veri Analizi
[The Determinants of Foreign Direct Investment Flows in EU: Dynamic Panel Data Analysis]

Author(s): Fatma Zeren, Suzan Ergun

Volume: 1

Number: 4

Year: 1

Page: 67 – 83

ISSN: 1309-2448

Abstract

The aim of this study is to modify the factors that effect the foreign direct investments (FDI) inflows to the European Union countries. These factors are investigated by using panel data analysis over the 1995-2007 periods. Empirical results show that beside the openness and development level, especially gross domestic growth rate increase the FDI inflows. On the other hand, it’s identified that current account balance and gross capital formation are negatively related to FDI inflows.

Keywords: Foreign direct investment, Gross domestic product, European Union, Dynamic panel data, System GMM method

JEL Classification: C23, F21

Article Information

Journal: Business and Economics Research Journal

Title of Article: Time-series Properties of Earnings and Their Relationship with Stock Prices in Brazil

Author(s): Rene Coppe Pimentel, Iran Siqueira Lima

Volume: 1

Number: 4

Year: 1

Page: 43 – 65

ISSN: 1309-2448

Abstract

The aim of this paper is to analyze the firm-specific time-series properties of quarterly accounting earnings from 1995 to 2009. Based on the earning time-series process it is possible to develop robust forecasting models and to test the ability to approximate real capital market behaviour using accounting data. By analysing 71 listed Brazilian companies, we found evidence that the time series of quarterly accounting earnings in Brazil follow an autoregressive model (AR) and can be estimated (modelled) by using a seasonal component. Additionally, we found a significant relationship between earnings and stock prices, although the direction of the causality is not generally defined, which suggests that the earnings-return relationship must be analyzed at the firm-specific level.

Keywords: Emerging markets, Time series, Accounting earnings, Capital market, Valuation

JEL Classification: M41, G30

Article Information

Journal: Business and Economics Research Journal

Title of Article: Yenilik Temelli Bir Bölgesel Gelişme Sürecinde Kalkınma Ajanslarının Yeri
[The Role of Development Agency in an Innovative-Based Regional Development Process]

Author(s): Cem Okan Tuncel, Hasan Bakir

Volume: 1

Number: 4

Year: 1

Page: 19-41

ISSN: 1309-2448

Abstract

In this study, the role of development agencies, in the innovative based regional development process, in the context of Turkey as an example, will be examined. In today’s information age economy, regional development can be achieved through canalizing regional sources to the technological development activities which will provide some competitive advantages. Innovation, which can be defined as the creation of new ideas and their implementation to economic activities, is the main source of long run economic growth performance. That the regions become prominent as the main fact of the information intensity capitalism has brought forward some changes and conversion in the regional policies as well. The aim of this study is to examine the role of the regional development agencies in the regional development policies in which the innovation process in Turkey is the determiner and to offer suggestions by relying on the EU experience.

Keywords: Development Agency, Innovation focused regional approaches, Regional development, Regional innovation system

JEL Classification: R11, R38, R58

Article Information

Journal: Business and Economics Research Journal

Title of Article: Türkiye’de İhracat Yapan Firmaların Finansman Stratejileri
[Financial Strategies of the Exporting Firms in Turkey]

Author(s): Suleyman Degirmen, Yildiz Gundogdu

Volume: 1

Number: 4

Year: 1

Page: 1-18

ISSN: 1309-2448

Abstract

The crises experiences of developing countries like Turkey have shown that moral hazard and adverse selection emerging via asymmetric information causes serious problems in financial markets. In this framework, firms’ capital structure decisions are one of the most important issues on finance literature. The aim of this article is to search an answer, by using the Modigliani-Miller, Trade off and Pecking Order theories, for the question of how exporting firms make their choices of financing along with analyzing the inevitable contribution of export to Turkish economic growth from micro aspect. In this study the relation between export/total sales, the growth rate of short run bank credit, the growth rate of long run bank credit, the growth rate of equity of firms that are ranked among the first and second 500 industrial firms in Turkey for the 1997-2008 periods is analyzed by “panel cointegration” method. A balanced panel is formed. In the series used, existence of unit root is tested by Im-Peasaran-Shin test. Finally, panel cointegration process is implemented. The result of empirical study indicate that there is a significant long run relationship between mentioned variables in Turkey for annual data from 1997 to 2008, and thus, support Pecking Order Theory.

Keywords: Finance of export, Pecking Order Theory, Trade-off Theory, Panel Cointegration

JEL Classification: G30, G32, C33

Article Information

Journal: Business and Economics Research Journal

Title of Article: Türkiye’de Hekim Arzının Bölgesel Dağılım Eşitsizliği (1897–2004)
[Regional Inequality of Medical Doctors in Turkey (1897-2004)]

Author(s): Murat Ciftci

Volume: 1

Number: 3

Year: 1

Page: 101 – 115

ISSN: 1309-2448

Abstract (Turkish)

Bu çalışmada, vilayetlerdeki hekim arzının bölgelerarası dağıtımında ele edilen sosyal fayda düzeylerinin Osmanlı ve modern Türkiye arasında yaşanan uzun dönemli değişimini konu alınmıştır. Uygulamada kullanılan veriler Osmanlı İmparatorluğu için 1897 tarihli ilk resmi istatistik yıllığı ve Türkiye için ise Türkiye İstatistik Kurumu’nun (TÜİK) web sitesinden alınmıştır. Çalışmada uygulama yöntemi olarak Atkinson eşitsizlik endeksi yaklaşımı kullanılmıştır. Hesaplanan Atkinson eşitsizlik endeksi katsayıları, Osmanlı döneminde doktor arzının vilayetler arası dağılımlarının vilayet nüfuslarına göre ciddi düzeyde dengesiz olduğunu göstermektedir. Bunun anlamı ise nüfusun doktorlardan sağladıkları sosyal faydadan ciddi kayıplarının mevcut olduğudur. Osmanlı coğrafyasının bütününde nüfusun 1897’de doktorlardan elde ettiği sosyal fayda düzeyi %49.2, bugünkü Türkiye sınırları içindeki nüfusun elde ettiği sosyal fayda düzeyi ise %41.5 düzeyinde gerçekleşmiştir. Osmanlı döneminin aksine, Cumhuriyet döneminde kamusal sağlık hizmetlerinde ciddi iyileşme yaşanmıştır. 2004’te, nüfusun doktor arzının iller arası dağılımlarından sağladıkları sosyal fayda düzeyler, uzman hekimlerden %64.3; pratisyen hekimlerden %84 ve tüm hekimlerden ise %77 oranındadır. Dolayısıyla uygulama sonuçları, iki dönem arasında hekim bölgelerarası dağıtımından sağlanan sosyal faydanın keskin şekilde iyileştiğini göstermektedir.

Abstract (English)

This paper looks at long-term change of inter-regional human utility from medical doctors in provinces between Ottoman and Modern Turkey. Using data from the first statistical yearbook of the Ottoman Empire for dynastic period and TUIK web side for republic period and applying method is based on Atkinson inequality index. The indices have revealed that there is imbalance in the regional distribution of doctors when compared to the population in the 1897. It is mean that there are dramatic declines in the rate of social utility for the people. According to that have been calculated for people, level of social utility from pshycians had been found out to be 49.2% for all over the Empire and 41.5% for the provinces in the border of Turkey in the 1897. In contrary to the Ottomans period, there exist high levels of improve in social utility of health service in modern Turkey. Level of social utility from specialized pshycians have been found out to be 64.3%; from medical doctors 84, and from both of doctors 77.3% in the 2004. It is shown that the inter-regional social utility from medical doctors has improved between two periods.

Keywords: Development economics, Social policy, Economic and social demography, Statistics, Health policy

JEL Classification: C43, C29, I12

Article Information

Journal: Business and Economics Research Journal

Title of Article: A Content Analysis of Factors Affecting New Product Development Process

Author(s): Eda Atilgan-Inan, Aslihan Buyukkupcu, Serkan Akinci

Volume: 1

Number: 3

Year: 1

Page: 87 – 100

ISSN: 1309-2448

Abstract

The objective of this study is to review the international marketing literature on new product development process and compare the changes in the important factors in the process with the changes in the management approaches. For this purpose, the articles in three international marketing journals were selected and “new product development” and “new product performance” were searched for in the abstracts. After grouping the variables in the process, they were compared with the perspectives of management in the related periods. The results indicated that organizational factors have always been important for new product development process, which is in line with the nature of the innovation process. But the emphasis on internal factors has increased in the 21^st century which is congruent with the change in management perspective foregrounding resource based view. The study differs from the similar literature review studies on the point that it deals with the topic from international marketing perspective. Therefore, R&D and other marketing studies are not included in the review and the study proposes the important factors from international firms’ point of view.

Keywords: New product development, New product performance, International marketing, International management, Innovation

JEL Classification: M31, O31

Article Information

Journal: Business and Economics Research Journal

Title of Article: The Effects of Job Rotation Practices on Motivation: A Research on Managers in the Automotive Organizations

Author(s): Kurtulus Kaymaz

Volume: 1

Number: 3

Year: 1

Page: 69 – 85

ISSN: 1309-2448

Abstract

Job rotation is a job design approach widely used by many companies at various hierarchical levels. By adopting the human structure of the company with technical processes, job rotation is the consequence of effort and determination. In Turkey it can be said that it is companies with a majority of foreign capital who have successfully applied this technique with the aim of improving workers performance. To reach this goal the first condition is to ensure that job rotation practices generate the expected effect on an employee’s motivation. From this angle, decreasing monotony, preparing the employee for management, defining the most productive job/position and increasing the level of knowledge and skills are the functions by which the said motivational effect will be achieved. Consequently this study aimed to test the established hypothesis expressed as ‘job rotation practices have a positive effect on motivation’. In this context, the research results verified that job rotation applications effect motivation.

Keywords: Job design, Job rotation, Motivation, Employee performance, Job enlargement

JEL Classification: M50, M54

Article Information

Journal: Business and Economics Research Journal

Title of Article: Gelişmekte Olan Ülkelerde Elektrik Tüketimi ile Gayri Safi Yurt İçi Hasıla (GSYİH) Arasındaki Eş-Bütünleşme ve Nedensellik İlişkisinin Analizi: Türkiye Üzerine Ampirik Bir Çalışma
[An Analysis of the Co-integration and Causality Relationship between Electricity Consumption and Gross Domestic Product (GDP) in the Developing Countries: An Empirical Study of Turkey]

Author(s): Ayhan Kapusuzoglu, Mehmet Baha Karan

Volume: 1

Number: 3

Year: 1

Page: 57 – 68

ISSN: 1309-2448

Abstract (Turkish)

Bu çalışmada 1975-2006 dönemi için, Türkiye’deki elektrik tüketimi ve gayri safi yurt içi hasıla arasındaki uzun dönemli ilişki ile nedensellik ilişkisi ekonometrik modeller kullanılarak incelenmiştir. Çalışmada ilk olarak yapılan eş-bütünleşme analizi sonucunda, elektrik tüketimi ile gayri safi yurt içi hasıla arasında uzun dönemli ilişki bulunmuştur. Vektör hata düzeltme modeli doğrultusunda yapılan Granger nedensellik analizi sonucunda ise, elektrik tüketimi ile gayri safi yurt içi hasıla arasında tek yönlü bir nedensellik ilişkisinin bulunduğu tespit edilmiştir. Elde edilen bulgular doğrultusunda, Türkiye’deki ekonomik büyüme sürecinde gayri safi yurt içi hasıla miktarının uzun vadede elektrik tüketimini pozitif yönde etkileyen önemli bir değişken olduğu ve bu nedenle de ekonomik büyüme sürecinde ortaya çıkabilecek aksaklıkları önlemek açısından da uzun dönemde elektrik enerjisi ve elektrik enerjisi üretiminde kullanılan birincil enerji kaynaklarının herhangi bir aksama olmadan zamanında temin edilmesinin, ekonomik üretim ve tüketim sürecinin istikrarı açısından önemli olduğu söylenebilir.

Abstract (English)

In this study, long term relationship and causality relationship between electricity consumption and gross domestic product in Turkey for the period 1975-2006 were investigated. As a result of the co-integration analysis made firstly in this study, the long term relationship between the electricity consumption and gross domestic product was found. According to the result of Granger causality analysis made in accordance with vector error correction model, it was determined that there was unidirectional causality relationship between electricity consumption and gross domestic product. According to the findings, it can be said that in the process of economic growth in Turkey, gross domestic product amount was an important variable which affected the electricity consumption positively in the long term and therefore it can be said that it is important to provide the primary energy sources used in electricity energy production and electricity energy in the long term and in time without any interaction for preventing the failures which may arise during the process of economic growth and for the stability of the economic production and consumption process.

Keywords: Electricity consumption, Gross domestic product, Economic growth, Co-integration, Causality

JEL Classification: C32, Q43

Article Information

Journal: Business and Economics Research Journal

Title of Article: İflasın Ertelenmesi Sürecinde Şirket İyileştirme Projeleri: İşletmecilik Açısından Bir Değerlendirme
[The Improvement Project in Postponement of Bankruptcy Process: An Evaluation from the Business Point of View]

Author(s): Mahmut Ozdevecioglu

Volume: 1

Number: 3

Year: 1

Page: 45 – 56

ISSN: 1309-2448

Abstract (Turkish)

Türkiye’de sermaye şirketleri veya kooperatiflerde, şirket aktiflerinin borçlarını karşılayamaması durumunda iflas kaçınılmazdır. Ancak 2004 yılında çıkarılan bir kanunla iflasın ertelenmesi mümkün hale gelmiştir. Buna göre iflasının ertelenmesini isteyen şirket, hukuki şartları yerine getirirken mahkemeye inandırıcı ve ciddi bir iyileştirme projesi de sunmak zorundadır. Bu çalışmanın temel amacı, iyileştirme projesinin bir işletmeci gözü ile nasıl ciddi ve inandırıcı olacağını tartışmaktır. İyileştirme projesi, borca batık bulunan ve iflası istenmiş şirketin bu durumdan nasıl kurtarılacağını öngören tedbirler içeren, objektif ve somut verilere dayanan bir mali projedir. İyileştirme projesinin genel olarak mali ve yönetsel tedbirleri içermesi gerekir. Mali tedbirler Şirketin borca batıklıktan çıkmasını yani bilançosunda aktifinin pasifini karşılar hale gelmesini sağlayacak, doğrudan veya dolaylı olarak para girişini öngören tedbirlerdir. Yeni ortak bulunması, ortakların şahsi mal varlıklarını satması veya şirketin yüksek kâr marjlı ürünlere yönelmesi gibi. Yönetsel tedbirler ise dolaylı olarak şirkete katkı sağlayacak olan ve şirketin iyileşmesini sağlayacak muhasebe, finansman veya insan kaynakları yönetimi ile ilgili tedbirlerdir. Yönetsel tedbirler şirketin iyileşmesini dolaylı olarak sağlayan tedbirlerdir. Bu kapsamda çalışmada söz konusu bu tedbirler ayrıntılı olarak açıklanmıştır.

Abstract (English)

It is inevitable for the capital companies and cooperatives in Turkey to go bankrupt in case the assets of the company are insufficient to meet the obligations. However, the law enacted in 2004 has enabled the bankruptcy to be postponed. The company requesting the adjournment of bankruptcy should not only fulfill the legal requirements but also present the court a convincing and serious improvement project. The main objective of this study is to discuss how to prepare such a plan from the point of view of business manager. The improvement project is a financial project based on objective and solid data which contains precautionary measures envisaged to rescue the company. In general the project should incorporate financial and administrative measures. Financial measures include direct and indirect cash inflows from sources like finding new partners, selling personal assets of existing partners and focusing on high profit margin products to ensure that the assets can cover the liabilities. The administrative measures in the field of accounting, finance and human resources contribute to the healing process indirectly. This paper explains the financial and administrative measures in detail.

Keywords: Improvement project, Postponement of bankruptcy, Bankruptcy, Improvement hope, Insolvency

JEL Classification: K22, M00