International Journal of Commerce and Finance (IJCF - İstanbul Commerce University)
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Selectivity Skills of Mutual Fund Managers in India: An Analysis
Get PDFStock selection is the nucleus in the investment management process. It involves identifying and selecting undervalued securities which among other things requires the successful forecasting of the company specific events or an ability to predict the general behavior of security prices in the future. If the fund manager is able to identify and select the undervalued securities for the portfolio, then it will be possible for the fund manager to increase the returns of the schemes and vice versa. In practice fund managers are expected to earn superior returns for unit holders consistently as being professionals therefore possess superior skills to collect and analyze the data with the purpose to select the right type of securities for the portfolio. The present work is based on the review of tens of studies both foreign and Indian studies relating to mutual funds. The mutual fund industry in India consists of public sector, private sector and foreign funds. All the three sectors were studied to compare the selectivity and timing performance on the basis of sponsorship of funds. However, from these only active funds belongings to Growth, Income, Balanced and Tax-Saving Schemes were selected for the study. In this paper stock selectivity skills of sample fund managers were tested by using Jensen’s Alpha and Fama’s net selectivity measure
Funds Used by the European Union in the Convergence Approach and Turkey
Get PDFThe article is to show the twinning mechanism as a convergence tool in a states accession process. Since it’s beginning in 1998 more than 1300 projects have been carried out in the scope of candidate states’ convergence process. Due to these projects the states’ administrative and judicial systems have been restructured. Thus, the capacity of Union legislation’s applicability enhanced and the programs have been used to strengthen the institutional structures in all the sectors in the scope of instrument for Pre-Accession Assistance. Starting from the December 17, 2001 various funds were launched for use in Turkey in order to ensure compliance with the EU acquis communautaire within the accession process of the state and to facilitate the fulfillment of the obligations which are specified in the Accession Partnership Document and National Programme of Turkey. The EU funds and their use within the scope of the approach and the contributions provided to institutions implementing the projects to the Legislative System of Turkey are to be discussed in the research
The Influences of Relationship Marketing in the Housing Brokerage Market
Get PDFMany companies and salesmen try to build and maintain long-term relationship with their customer. The influences of relationship marketing activities are important issue of the housing brokerage Market. The aims of study are to learn the impacts of relationship marketing on customer satisfaction and customer loyalty in the housing brokerage Market. The researchers survey the customers and use the regression analysis method to test the relationships between relationship marketing, customer satisfaction and customer loyalty in Taiwan. The research results show that the relationship marketing positively impacts on customer satisfaction and customer loyalty, then customer satisfaction positively impacts on customer loyalty. Customer satisfaction plays a mediating role between relationship marketing and customer loyalty. Besides, the study confirm that brokers’ expertise moderates the relationship of relationship marketing process. The findings suggest that the brokers’ relationship marketing and expertise empirically impact on the customers
Forecasting Stock Market Volitility- Evidence From Muscat Security Market Using Garch Models
Get PDFEngle (1982) introduced the autoregressive conditionally heteroskedastic model for quantifying the conditional volatility and by Boollerslev (1986), Engle, Lilien and Robins (1987) and Glosten, Jaganathan and Runkle (1993) extended the class asymmetric model. Amongst many others, Bollerslev, Chou and Kroner (1992) or (1994) are considered to be the précis of ARCH family models. In this direction the paper forecasts the stock market volatility of four actively trading indices from Muscat security market by using daily observations of indices over the period of January 2001 to November 2015 using GARCH(1,1), EGARCH(1,1) and TGARCH (1,1) models. The study reveals the positive relationship between risk and return. The analysis exhibits that the volatility shocks are quite persistent. Further the asymmetric GARCH models find a significance evidence of asymmetry in stock returns. The study discloses that the volatility is highly persistent and there is asymmetrical relationship between return shocks and volatility adjustments and the leverage effect is found across all flour indices. Hence the investors are advised to formulate investment strategies by analyzing recent and historical news and forecast the future market movement while selecting portfolio for efficient management of financial risks to reap benefit in the stock market
The Role of Social Media Advertising in Consumer Buying Behavior
Get PDFP Consumer buying behavior is known also as consumer decision making is the process by which individuals search for, select, purchase, use, and dispose of goods and services to satisfy require needs. This study has been designed to answer main question about the role of social media advertising on consumer buying behavior in very active field which is fashion retail industry, then determine the differences if existed in this relation regarding to the name of the brands and consumer demographics factors. By electronic questionnaires conducted for consumers live in Istanbul-Turkey, findings showed weak relation between social media advertising and consumer need recognition, no relation at all with search for information, strong relation with evaluate the alternatives, and moderate relation for both buying decision and post-purchase behavior, as those steps represent the five steps need recognition model in consumer buying behavior. Moreover, findings showed no changes in this relation regarding to consumer’s age, and education level. However, there were changes between Females and males in the relation with consumer need recognition, and search for information. In addition, another changes regarding to income between social media advertising and evaluate the alternatives especially for consumers earn more than 5.000TL among other income groups
Managers’ Personality Traits Over Management Styles and Decision-Making Styles
Get PDFThe paper seeks to offer a contribution to the extent literature on the role of managers’ personality characteristics over management styles and decision-making styles. We have prepared a questionnaire which consists of Girgin’s (2007) personality scale adaptation from Goldberg (1992), Kurban’s (2015) decision-making scale adopted from Scott and Bruce (1995), and Yıldızhan’s (2012) management style scale. The questionnaire is conducted among managers and employees in various sectors in Istanbul via the single random sampling method. Frequency analysis is applied to descriptive findings. In order to determine reliability and validity of the scales, reliability and factor analysis are performed. We have focused on investigating the impact of managers’ personality traits on management styles and decision-making styles by applying the Multivariate Regression Model and Correlation Analysis. The result of the factor analysis revealed that the three dimensions (extraversion, neuroticism, conscientiousness) of big-five personality traits have a significant effect on some dimensions of managers’ decision making and management styles
A Comprehensive Analysis of Inter-Relationships among Overall Service Quality, Trust, Satisfaction and Learner’s Loyalty within the Supportive Vocational Education and Training
Get PDFIt is seen that education institutes use many techniques to increase the quality of the services being provided. However, as competition in the education sector has been rising dramatically, it is hard to differentiate the services offered. In this perspective, it is becoming hard to attract and keep loyal learners in education institutes. So, lifelong learning and continuing professional development are the two tools that enhance the level of loyalty to the education institutes. In this study, an attempt has been made to understand the factors that define learner’s loyalty in the Vocational Education Institutes. In addition, the relation of trust to the Institute, satisfaction, and learner’s loyalty variables to the service quality will be researched. In this sense, 184 questionnaires have been conducted to students who have attended the Public Oversight Board Education Program offered by Istanbul Commerce University’s Lifelong Learning Center. Data has been analyzed by Structural Equation Modelling. According to the results of the study, education institutes who deal solely with the issue of trust, satisfaction, and learner’s loyalty can have the potential to keep their learners on hand on a life-long basis thereby earning their loyalty to the fullest extent
The Role of Collaborative Advantage for Analyzing the Effect of Supply Chain Collaboration on Firm Performance
Get PDFCollaboration plays a critical role in a globalized, rapidly changing and competitive world, as the resources of an individual company are limited to compete with the challenges of the era. Supply chain collaboration is defined as a partnership process where two or more autonomous firms work closely to plan and execute supply chain operations towards common goals and mutual benefits. Supply chain collaboration results in collaborative advantage, the strategic benefits gained over competitors through supply chain partnering, and these both increase firm performance of the partners. In this research, the effect of supply chain collaboration on firm performance has been investigated by distributing a survey to Turkish companies which have been responded by 150. The role of collaborative advantage in this relation has also been measured. The results of the research suggest that there is a positive correlation between supply chain collaboration and collaborative advantage. The results also prove that supply chain collaboration positively affects firm performance. It is also proven that the mediator role of collaborative advantage on the effect of supply chain collaboration on firm performance is statistically significant
An Exploratory Analysis of Online Shopping Behavior in Turkey
Get PDFAlongside the technologic developments, transformation in user behavior and business models has been observed. New areas and models are emerged in a lot of grounds like the communication of people or daily activities. So a new face put for shopping behavior by the e-commerce, which is one of the novelties. This study tries to research online shopping behavior in Turkey. With a quantitative research, device usage, the reasons behind to shop or not to shop online, online shopping category and e-commerce site preferences, payment methods, international e-commerce and online marketplace usage is investigated. As implications of the research, “saving time“ is found to be the foremost reason for shopping online in Turkey and “travel and bookings” category is found as the most shopped category among the results of the survey
Day of The Week Effect in Conventional and Islamic Stock Indexes
Get PDFIn this study, existence of day of the week (DOW) effect is examined pre/post subprime crisis periods and in terms of conventional/Islamic of indexes. Canada, Indonesia, Japan, UK and USA markets are examined for a period of 2003-2014. The findings of the study showed significant DOW effect for all indexes, however such effect is not persistent. When DOW effect examined in terms of conventional and Islamic indexes of each market, there is not persistent conformity on the DOW effect for both indexes of the same markets