192 research outputs found
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Okun’s Law and Long Term Co-Integration Analysis for OECD Countries (1987-2012)
Get PDFEven though, there are so many so long discussions on the relation between population increase and economic growth, today, general opinion tends to believe that there is a direct relation between population increase and economic growth. This opinion is supported by some empirical studies. Despite an economical growth caused by directly with population growth, it is known that there is a reverse relation between unemployment and growth known as Okun’s Law. This relation, suggesting that every 1 point decrease in unemployment induces a 3 point increase in growth, is tested for many countries. In this study, this hypothesis of Okun is examined and it is found to be true for selected 23 countries, even with the difference in coefficients. At the same time, long term relation between growth and unemployment is tested with the use of time series analysis and long term relation is found for 14 countries. Additionally, tests done for all 34 OECD countries showed that reversed relation between unemployment and growth is valid and they are co-integrated in long run. In this study, countries are categorized according to growth rate as “low”, “normal” and “high” and a consistent unemployment rate for countries with high growth rate could not be seen. In the case of countries with lowest growth rate, generalization that they have quite high unemployment rate can be made
The Relationship Between Accounting Practices and Effects of Financial Crisis in Turkey: A Case Study on an Oil Company
Get PDFMany reasons lie at the base of all financial crises from the past to the present. If we take into consideration the 2008 subprime mortgage crisis, the only reason cannot be mortgage loans. But the mortgage issue continued to advance and created several other problems. Definitely, the source of mortgage loans problem also had many roots. One of the reasons was the lack of correct use of accounting principles and auditing. This is a strong proof and indicator that, there are many accounting based reasons behind the occurrence of the financial crises. Many examples can be given showing moving away from the basic principles of accounting rules and the general accounting concepts. Moreover, institutions being not fully independent, running creative accounting practices, having problems with fair valuation and transparency issues, presenting unreal financial reports, and sharing misleading audit reports are all related to financial crises.Furthermore, specific businesses and people abuse accounting rules, standards and related legislation for the sake of their own interests. Accounting and finance history has shown us that, even audit institutions, credit institutions and rating agencies are getting unfair advantages and generating unethical cash by making intentional accounting and finance errors, which is actually categorized as fraud.The aim of this study is to analyze financial crises and to determine if accounting practices have any relationship with financial crises. The research investigated an oil company’s financial and operational indicators before and after the 2008 financial crises with related tables and figures. Also, an interview was run with the company’s accounting officer. Based on the statements of firm’s accounting officer, correct accounting practices defended firm from several negative effects of the 2008 financial crisis
Factors Affecting the Adoption of Mobile Payment Systems: An Empirical Analysis
Get PDFThe world witnessed a rapid growth in the e-commerce in the recent years. Widespread use of mobile devices in the e-commerce has a role in this augmentation. Associated with growth of trading volume and the introduction of new devices, new products and solutions emerge and they diversify concerning online payments. Consumer attitudes and behaviors may change according to these developments. The purpose of this study is to investigate the factors effecting adoption of mobile payment systems by the consumer. 225 individuals were surveyed online through convenience sampling method. A research model was developed and proposed relationships were tested using structural equation modeling. The empirical findings point out that perceived trust, perceived mobility and attitudes positively affect the adoption of MPS; perceived usefulness and perceived ease of use have no effect on adoption of MPS. Furthermore perceived reputation positively related to perceived trust and finally environmental risk negatively related to perceived trust
An Exploratory Study of Presenteeism in Turkish Context
Get PDFPresenteeism has been an emerging research era, where many exploratory questions may be produced. Literature is not very definitive for the conceptualization of the construct in many aspects. There are few studies about the reasons, measurement approaches and positive outcomes of the concept. Studies conducted in Turkish context are even fewer. Paper combines two studies; first study aims to investigate different conceptualizations, possible reasons, negative and positive outcomes of presenteeism. The purpose of the second study is to find out how those concepts structure and relate to each other. Findings provide useful insights for reasons, outcomes and criteria of presenteeism. They also indicate different conceptualization of the concept and there are significant relationships between variables according to the research.
Volatility Transmission Between Dow Jones Stock Index And Emerging Islamic Stock Index: Case Of Subprime Financial Crises
Get PDFIn the course of the recent global crisis, the stock shocks are distributed and transmitted from their homes in the developed stock market to emerging stock markets. By supporting the development of emerging stock markets, this study aims to see the transmission of volatility between the Dow Jones stock index and the Dow Jones emerging Islamic stock indiex. In this study we have divided the period into three, periods, before, during and after this crisis to demonstrate the resilience of the Islamic market index in response to the global financial crisis. Another aim of this study is to provide a new guide line for investors in emerging stock market before making investment decisions. The data are daily, going from 02/01/2005 until 31/12/2012. To measure the transmission we used bivariate BEKK-GARCH and DCC-GARCH model. The result shows that there is a transmission mainly during the crisis period which means that the crisis affects all the financial assets whether Islamic or not. The same result also shows the preference to invest in both Islamic and classical stock indexes since they are less risky
The Effect of Relationship Marketing on Customers’ Loyalty (Evidence from Zemen Bank)
Get PDFAbstractEvery firm without good marketing team and strategies is bound to fail. In order to be competitive and profitable in the industry, bankers should acquire and retain profitable customers. Definitely this is done with Relationship marketing. Relationship marketing is a philosophy of doing business, a strategic orientation that focuses on keeping and improving current customers rather than acquiring new customers. The aim of this study is to investigate the influence of Relationship marketing underpinnings on customers‟ loyalty. The study also investigated the mediating role of top management commitment between relationship marketing and customers‟ loyalty. The study is based on information collected from both primary and secondary sources of data. The sample for this study is taken from customers of Zemen bank in Addis Ababa. Data analyses were done using frequencies, percentages, means, standard deviations, cross-tabulations, and tables followed by discussions. Moreover, inferential statistics of bivariate correlations and simple and multiple regressions were used. Findings of this study reveal that there is a significant and strong correlation between relationship marketing and customers‟ loyalty. Moreover, the study reveals that there is significant effect of trust, commitment, communication, and gratitude on predicting customers’ loyalty. Of these relationships, Gratitude emerged as the strongest factor which influences customers’ loyalty while conflict management remained statistically insignificant and negligible influence on customers’ loyalty in the cumulative model. However, all underpinnings had statistically significant influence on customers’ loyalty as individual. Moreover, management commitment had mediating effect between relationship marketing and customers’ loyalty. Depending on the findings, practical implications of this study is in order to ensure loyalty among bank customers; bankers should build a better relationship marketing strategy. Therefore, banks competitiveness and profitability will depend on their ability to build strong relationship bonds with their customers continuously. Furthermore, future research directions were also suggested on this study
Joint-Stock Corporation under Turkish Commercial Law and the Doctrine of Increasing Shareholder Commitments
Get PDF ABSTRACT The principle that the shareholder of a joint-stock company is under the single obligation of paying in his contribution to the equity-capital is in force within the framework of the 2011 Turkish Commercial Code. It appears as if the reinforced principle of “single obligation” critically challenges the relevance of the formerly settled norm of subjecting increase in shareholders’ commitments to unanimous consent of all shareholders. That being said, since the Turkish Commercial Code also contains deviations to the single obligation principle in addition to the fact that the notion of increase is shareholders’ commitments was not made entirely obsolete from the Turkish Commercial Code, the doctrine for subjecting increases in shareholders’ commitments to the general assembly’s unanimous vote is - to an extent - still relevant within the context of the 2011 Turkish Commercial Code
Determinants of Debt-Equity Choice – Evidence from Poland
Get PDFThe question of debt-equity choice has so far been widely discussed in literature. The aim of the paper is to analyse the determinants of capital structure of Polish enterprises. We analysed factors that may impact the indebtedness. This analysis fills in the gap in worldwide studies with the case of a country representing the group of „emerging markets”. The paper examines capital structure determinants of non-financial companies listed on the Warsaw Stock Exchange. We used five independent variables compatible with the up-to-date achievements in the field. The results indicate that there is an evidence of a significant negative relationship between the size of a company, its growth rate, profitability, tangibility and the level of total debt. The study shows positive relationship between growth prospects of the company and the debt level. The results of the study indicate that the pecking order theory better explains the changes in indebtedness of analysed companies than other capital structure theories. Obtained results are mostly consistent with earlier studies conducted in the Poland and with studies in Western economies
Evaluating Banking Profit Performance in Ghana during and post Profit Decline: A five Step Du-Pont Approach
Get PDFIn this study we aimed at three objectives. First, identify and rank banks based on a composite score comprising of all five du-pont variables. Second, we identify variables in the five step du-pont set up that are most likely to influence bank ROE during and post profit declining periods. And third, we estimate a model to capture the variables that drive bank ROE during and post profit declining periods. We first establish from our rankings that, foreign banks in Ghana performed better during profit declining periods while the local banks performed better in post profit decline periods using the top ten banks as a benchmark in both periods. Employing Pearson correlation coefficients matrix, we recognized that operating profit margin, asset turnover and leverage were most likely to influence bank ROE in both time periods. We further employ OLS regression and find that bank ROE was impacted by operating profit margin and leverage during profit declining periods and post profit decline while tax effect added up in post profit declining periods
Using Genetic Algorithm For Winter Maintenance Operations: Multi Depot K-Chinese Postman Problem
Get PDFIn this study, the assignment and routing problem of one of Istanbul’s winter maintenance activities, salt pouring, was scrutinized. The starting point of the study considers the high cost of winter maintenance work, a shrinking assigned budget, high numbers of vehicles and streets to service that the increase in difficulty to solve the problem due to their high numbers. In this respect, the problem was modeled as multi depot k-Chinese postman problem, a type of arc routing problem. This mathematical model was solved by genetic algorithm. For comparison, the current solution, Clarke and Wright Algorithm and Sweep Algorithm were used