Journal of Economics Bibliography
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Ownership structure in BIST - Capital structure relation Granger causality test a comparative application between BIST industrial index and service index
Get PDFAbstract. In this study, it was aimed to determine whether there is a bidirectional relationship between the ownership and capital structures through the variables representing the ownership and capital structures of 142 businesses, which are included in the Service and Industrial Indexes of Borsa Istanbul (BIST) between the years of 2006-2014. The capital structure in the research is represented by the leverage ratio (TBTV), which determines the extent to which a business is dependent on debt and to determine how much of the assets owned by the business are financed with debt, while the ownership structure is represented by the largest shareholder’s equity (EBOP), the foreign share (YAP), the corporate investor ratio (KURY) and the number of the shareholders with more than 10% share of the business (ORTAK). The factors influencing the bi-directional causality between the ownership and the capital structures were researched with the Panel Vector Autoregressive Model (VAR). In the scope of the VAR analysis, Granger causality test and the impulse response analyzes were also performed. It was found in the result of the analysis that in the model where the capital structure (TBTV) is a dependent variable in the service index, none of the independent variables belonging to the ownership structure has a causality relation through the TBTV. In the model where the variables belonging to the ownership structure were dependent variables, it was found that the independent variable belonging to the capital structure (TBTV) is the reason of the change in the ownership variables of EBOP, HAO and KURY variables. According to the results obtained, 1 period delay in the capital structure causes decrease in EBOP and HAO; increase in KURY. As to the businesses in the industrial index, a causality relationship was not seen between the ownership structures and the capital structures in the context of these variables and the two structures do not effect each other.Keywords. Ownership structure, Capital structure, Granger casuality, BIST. JEL. C33,G10, G32
Predictability of financial crises by KLR method: Turkey case (Period of 1990:01-2018:09)
Get PDFAbstract. As a result of global integration and financial liberalization, financial crises have been experienced quite frequently in the world since the 1980s. The effects of the financial crises in the international arena are severe and rapidly spreading. For this reason, in the studies on the crisis, various methods for early warning models have been developed on the prediction of crises. The aim of this study was to estimate the financial crisis for Turkey case by "KLR Signal Approach" that was developed by Kaminsky and Reinhart Lizondo in 1998. In this study, 7 macroeconomic variables belong to the period of 1990:01 and 2018:9 were examined. The difference of this study from other studies is that a new crisis variable has been created. It was found at the end of the study that the selected variables were successful in catching the crisis signal.Keywords. Financial crisis, Signal approach, KLR signal approach, Early warning methods.JEL. G01, C10, C29, F30
XV. European Conference on Social and Behavioral Sciences
Get PDFAbstract. XV. European Conference on Social and Behavioral Sciences took place between 1-3 February 2018 in Adnan Menderes University Davutlar Vocational School. The conference was organized jointly by Adnan Menderes University and International Social Sciences Research Association (IASSR). The conference, which is open to academicians, researchers and all individuals who are interested in social science, aims to create a platform for evaluating the developments, changes and opportunities in the world of Social Sciences.In this context, more than 200 academic studies were presented in parallel sessions and a large number of graduate students as well as academic staff and researchers are the major attraction to participate in the conference.Keywords. XV. ECSBS, Social sciences, Behavioral sciences, Turkey.JEL. A10, D90, E70, 050
Fusion of arts and sciences: Academic future of universities in Pakistan
Get PDFAbstract. The paper explains the need for Universities in Pakistan to offer degree programs and courses that are multidisciplinary in nature so that graduate and undergraduate students learn the skills for future innovation idea management that then can be applied to sustainable, ecofriendly and green product development in digital space, engineering, bio technology or even social, political and economic policy initiatives with sensitized indigenous understanding of the local culture. The postmodern alignment of national, regional or local life styles of populations can be improved with innovation ideas with motivations from technical learning by doing from latest syllabus that is developed in Universities in Western countries in a way that the idea fusion of the indigenous richness in local expressions through various mediums of arts is directed to contemporary developments in scientific design formulation.Keywords. Education, Art and sciences.JEL. A10, A12
Future of driving a driverless car for the gaming industry
Get PDFAbstract. The article suggests that future of driverless car is not about passenger comfort but it should be in increased human vehicle interaction whereby an idea of real time gaming simulator is promoted.Keywords. Concept design applications.JEL. A10
The role of military expenditures on economic growth in Italy
Get PDFAbstract. The purpose of this paper is to evaluate the likelihood of a nexus between economic growth and defense spending in Italy. With the US urging its NATO allies to stop “free-riding” through diminishing budget allocations to military expenses, and European policymakers hard-pressed by populist tail-winds, the debate on the effects of military expenditure on the economy is more current than ever. I briefly review the literature supporting each of the three possible effects: positive, negative, and insignificant. Scholars use various economic models like the Feder-Ram model (Biswan & Ram, 1986), the augmented Solow model (Mankiw, Romer, & Weil, 1992), and endogenous growth models to investigate whether military spending affects economic growth and the degree and direction of causality. In this paper, Ido notutilize econometric models to establish a relationship between the two variables, but rather leverage on existing research and my analysis to formulate an educated guess. The relevant studies, on countries similarly industrialized, lean towards a negative or insignificant relationship between economic growth and defense expense. Based on the evidence presented in the paper, I postulate that the role of military expenditure on economic growth is insignificant in Italy. Nevertheless, investing in the national defense industry to consolidate and advance Italy’s ninth position as a global exporter of arms, would bring benefits regarding both balance of trade and strategic long-term partnerships.Keywords. Defense spending, Economic growth, Italy.JEL. H50, H56, H60, H63, O40, O49
Critique of impact assessment of regional trade agreements using non-tariff measures
Get PDFAbstract. Are cent study undertaken by Kawasaki (2017) uses a computable general equilibrium (CGE) model to estimate the impact of removal tariffs and non-tariff measures on trade flows and the overall gross domestic product (GDP) of the remaining 11 countries in the Trans-Pacific Partnership (TPP11) partner countries. This note attempts to provide insights into such estimations so as to help in real impact assessments of the tariff and non-tariff provisions of agreements such as the TPP11. It warns that policy makers who seek to rely on such studies need to be aware of the large number of assumptions that underlie the quantification of the non-tariff measures, including that regulation is necessarily negative for trade, and other limitations of the methodology used. The paper also notes these are only one aspect of the broader economic impacts of an agreement that includes chapters on intellectual property, investor protections, government procurement, and state-owned enterprises, among others.Keywords. International trade, Tariff, Non-tariff. JEL. F10, F13, F15, J50
Moroccan consumer behavior during the introduction of participatory banks
Get PDFAbstract. Nowadays, participatory banks have emerged in Morocco and they are finally operational. Bank Al Maghrib gives the green light to five of them. Not only fierce competition between them, but also with conventional banks. An environment conditioned by the implementation of a marketing strategy that will be used by the participating banks.The purpose of this article is to analyze the results of the work done in this area. This contribution aims at first identifying the state of Islamic finance in Morocco, and second, to study the behavior of a demanding consumer.Keywords. Participatory banking, Islamic finance, Consumer behavior.JEL. G21, G30, G39