International Journal of Commerce and Finance (IJCF - İstanbul Commerce University)
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The Effect of Decision Making Competence on Managerial Performance
Get PDFThe performance of the manager, is partly related with decision-making competence. Making decisions properly at the right time and in the best period has the potential to increase the overall success of the manager. Decision-making which means comprehending, thinking, evalua-ting the alternatives and choosing one of the alternatives is a factor that affects manager’s performance directly and provides a competitive advantage for organisations. In this research, the relationships between decision-making competence and managerial performance were discus-sed. The main thesis of this research is that the managers who have high decision-making competence will have high managerial performance. The research was carried out with a population of 424 managers, subordinates, executives and customers/farmers. The evaluation of mana-gerial performance was conducted by taking the factors of subordinates, executives and customers into consideration. The research scales compiled from the literature review and measurement tools developed by the researcher were used in the research. The test of hypothesis was examined by the method of linear regression analysis. The results of this research provided that there was a statistically significant relationship between the decision-making competence of the managers and managerial performance. However, this preliminary study needs to be tested in other businesses and sectors because the data of this study were gathered from a single institution of business
Cost of Poor Quality in Energy Sector
Get PDFCompanies need to produce their product and services with lower cost in order to survive in the competitive global market. That is why; firstly they need to define the visible and invisible cost of poor quality factors and then need to eliminate these Poor Quality Costs by utilizing the various improvement methodologies. In order to define the poor quality, firstly the project team members need to be assigned between the cross functional departments. Then, the current status needs to be defined step by step by utilizing the various methodologies such as Pareto Analyze etc. As a second step, Root Cause Analyze is performed, and lastly the actions and action plan are defined. All these steps are systematized with some methodologies such as PDAC, Practical Problem Solving (PPS), Six sigma DMAIC & 8D. In this study, it is aimed to decrease the Warranty Cost which is a factor of the Cost of Poor Quality in a factory in the Energy Sector. At the same time, it is aimed to decrease the customer complaints as well as to increase the customer satisfaction. The factors that cause the Warranty Cost have been defined in the Current Status Analyze. Pareto Analyze, Brainstorming, Fish Bone Analyze, Process Mapping, 5 Why Analyze etc. methodologies have been utilized in this study
The Effect of Corporation Reputation on Organizational Citizenship Behaviour
Get PDFThere is a growing interest of academicians and practitioners for corporate reputation since it is an important factor, which creates beneficial outcomes for the firms. In the literature, corporate reputation is studied on the ground of external stakeholders. However, employees as internal stakeholders are also as important as the external ones, and we know little about how corporate reputation affects employees’ organizational behaviors. This study purposes to fulfill that gap and aims to identify the effect of corporate reputation an organizational citizenship behavior (OCB). As a result of the study, it was found that corporation reputation positively affects altruism, courtesy, civic virtue and consciousness while does not have any influence on sportsmanshi
Why Go Public? An Empirical Analysis of IPO’s Competitive Effect on Turkish Firms
Get PDFThe motivation of this study is to approach the IPO issue from a different perspective. Most of the studies in the existing literature deal with three broad issues which are operating performance, stock performance, and the reasons to go public. However, there aren’t many studies which tackle the IPO issue from a pure competitive perspective which enables limited but clear results. This study contributes to the literature, not by answering a broad and old question but by providing new and partial evidence which seem to contradict the whole at first glance. Most of the 60 BIST (Borsa Istanbul) listed large industrial firms in this study have improved their relative ranks after their IPOs, when compared to their own large competitors most of which are not listed in BIST. These ranks are available in Turkey’s TOP 1.000 Industrial Enterprises annual lists and they are officially assigned by ICI (Istanbul Chamber of Industry) according to firms’ sales revenue figures. Thus, they provide us with the single and clear window to observe. Keeping in mind that this window is limited, this study comes up with some non-negligible findings and then elaborates on their significance for the IPO literature, raising more questions than answers for the sake of a more solid theory
Exchange Rates’ Effect on Spot and Futures Equity Index Markets: A Study on Borsa Istanbul
Get PDFThis paper examines the linkages between the foreign exchange rates, spot equity index and equity index futures. The study aims to investi-gate whether there is difference between the spot and futures markets in the scope of relation with the foreign exchange rates’ returns and which leads the other. The relationships are examined by using the vector autoregression (VAR) model, impulse-response functions, variance decomposition and Granger Causality tests. The sample of the study consists of US dollar to Turkish Lira rate (USD/TRY), Euro to Turkish Lira rate (EUR/TRY), BIST 30 Index and BIST 30 Index Futures. The data of the study includes the period between January 2011 and December 2014 with daily data range. Our results have evidence that the foreign exchange rate markets in Turkey are driven by the equity market
A Comparison of Optimal Portfolio Performances of Three Optimization Methods
Get PDFThis study compares performances of three portfolios established based on Markowitz optimization, shrinkage optimization, and Black- Litterman optimization. BIST30 companies are used to test the results. Markowitz optimization is unrestricted, thus generates the highest possible utility. However, portfolio weights display high values of short- selling needs. Shrinkage optimization restricts short selling needs gradually, but it does not block short- selling. On the other hand, Black- Litterman model totally prohibits short- selling. Results show that the lowest utility is originated by Black- Litterman model. Shrinkage model generates average returns and less- than- average risk. Therefore, shrinkage ratio is a strong candidate for future portfolio building. The results also suggest that short selling should be included in portfolio activities to maximize performance. Short- selling improves portfolio performance significantl
Clarifying the Management Role in Dealing with Employees Personal Issues in the Lebanese Organizations
Get PDFThe majority of workers have many occasional difficulties that sometimes become a problem affecting the worker’s performance. When this will repeatedly fail to meet expectations, a serious problem may become the main reason which contributes to the job decline. Therefore, a pattern of reduced performance indicates the need for a supervisory action from managers. Poor performance could be reflected under three main categories, such as employee availability, employee productivity, and employee conduct. The reasons and causes of this poor performance could be a personal issue related to the employee. Many types of personal problems are affecting the job performance in organizations, such as marital strife, financial difficulties and child care complication. More serious difficulties and the abuse of these problems-if not resolved-may cause unending issues at work. This problem is highly important especially that it can affect the job performance and the company income. Moreover, it can simply result in the failure of the employee to meet the performance standards, which kills productivity. The purpose of this qualitative exploratory phenomenological study is to clarify the management role in dealing with employees personal issues in the Lebanese organizations as perceived by the lived experience of managers. The research instrument which will be used is a face-to-face structured interview with six managers of the major functions in different Lebanese organizations. The sample type will be by convenience
Benefiting from the Collective Labor Agreement in Turkish Collective Bargaining System
Get PDFCollective agreement system, which closely involves the content of social fabric and separation of powers in industrial society -some of the main problems constituting economic, political and judicial fabric of the society- and as the product of a historical development process, is applied in many countries as a dynamic process that is able to rapidly adapt to both changing economic and social conditions and changes in technological structure and plays the most effective role in determining employment conditions. A collective labor agreement is primarily formed for the purpose of improving working conditions of workers and to recover their material circumstances through other side benefits provided in goods and money in addition to salary increases. Naturally, aspiration of employees to benefit from collective labor agreement applied in the workp-lace they serve is for their self-interest. However, to be able to benefit from collective labor agreement, while only aspiring is not sufficient to utilize it; fulfilling a set of conditions is also necessary
Influencing Factors of Currency Risk of Deposit Banks in Turkey by Using Probit Method
Get PDFIn this paper, we aimed to analyze the factors that affect currency risk of the banks. Within this scope, annual data of 23 deposit banks for the periods between 2005 and 2015 was evaluated. In addition to this situation, panel probit model was used in order to achieve this objective. Regarding the subject of the currency risk, this model was firstly used in this study. According to the results of the analysis, it was determined that 3 independent variables affect the currency risk of deposit banks in Turkey. Firstly, it was identified that there is a positive relationship between total assets and currency risk. This situation explains that when the size of the banks increases, they tend to take more currency risk. In addition to this variable, it was also defined that there is a direct relationship between economic growth and currency risk of the banks. This result refers that in case of an increment in the market stability; banks think that the market is safer and they increase their currency risk. Moreover, it was also concluded that there is a negative relationship between interest rate and currency risk of the banks. This aspect shows that when interest rate decreases, it will lower uncertainty in the market. Thus, banks would take higher currency risk in such markets
Causality Relationship Between Import, Export and Growth Rate in Developing Countries
Get PDFIn this paper, we tried to determine the relationship between imports, exports and growth rate in developing countries. Within this scope, 6 developing countries (Argentina, Brazil, China, Malaysia, Mexico and Turkey) were analyzed in this study. In order to achieve this purpose, annual data for the periods between 1961 and 2014 was tested by using Engle Granger co-integration analysis, Vector Error Correction Model and Toda Yamamoto causality analysis. According to the result of the analysis, it was determined that there is not any relationship among three variables in Brazil and Mexico. On the other hand, we defined that increase in export causes higher growth rate in Argentina. Moreover, it was concluded that there is a causal relationship from import to export in China and Turkey. Furthermore, it was determined that export causes higher import in Malaysia. Therefore, it can be concluded that the relationship between import, export and growth rate is not same for all developing countries.