International Journal of Contemporary Economics and Administrative Sciences
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Detection of Healthcare Bubbles in Iran: a Left-Tailed Augmented Dickey-Fuller (LTADF) Approach
Get PDFHealthcare bubbles can cause instability in healthcare system. This study investigates the possibility of single and multiple healthcare bubbles in Iran healthcare market. We applied ADF, SADF and GSADF methods of Left-Tailed Augmented Dickey-Fuller to locate single and multiple healthcare bubble episodes. In particular, this study focuses on the explosive behavior of the pharmaceutical products indicator in the Tehran Stock Exchange (TSE) from November 2008 to August 2017. Our results show that the Iran healthcare market has experienced 8 bubbles over the period of 2008-2017, some of which are single, and others are multiple. The first bubble has occurred in June 2010. Other healthcare bubbles have appeared from 2011 until August 2014. However, the seventh bubble appears two years later in August 2016. The peak in healthcare bubbles can be seen in March to April in 2013. Healthcare policymakers should monitor the market to recognize the bubbles so that they can mitigate the consequences of the bubble in the market and orient the prices of medical and pharmaceutical commoditie
Relationship between Sustainable Development and Health: The Case of Turkey
Get PDFSustainable development is the fulfillment of the needs of the present generation without destroying the ability of future generations to meet their own needs.Among the main elements of sustainable development,there are economic elements, socio-cultural elements and environmental elements.Reducing world hunger, gender equality, clean water and sanitary conditions, appropriate work and economic growth, industry-innovation and infrastructure, reduction of inequalities, responsible consumption and production, aquatic life, terrestrial life, peace and justice, poverty reduction, accessible clean energy, sustainable cities and habitats and healthy individuals are some of the key objectives of sustainable development.Health is considered one of the important indicators in achieving these goals. Health is one of the basic needs of mankind.According to the definition made by the World Health Organization health; is expressed as the state of full well-being of the individuals in physical, spiritual and social aspects. It is natural that this state of full well-being is closely related to the economic development and the environment it affects.In evaluating the goals of sustainable development; health indicators which is used include variables such as nutrition status, mortality, hygiene conditions, drinking water, and health services. Relationship between sustainable development and health will be examined within Turkey example study
ANALYSIS OF RENEWABLE ENERGY RESOURCES FROM REGIONAL DEVELOPMENT IN EASTERN ANATOLIA REGION EXAMPLE
Get PDFOne of the most fundamental problems of today's economies is regional development differences. One of the most important instruments for eleminating developmental differences is energy sources. Energy resources are divided into two parts, nonrenewable and renewable. The danger of extinction in sources like non-renewable energy sources such as oil and natural gas has led economic structures to concentrate on renewable energy sources such as wind and solar. In this context, renewable energy sources have become important both in macro and regional development. In this study, the role of renewable energy resources in regional development has been analyzed in the case of Eastern anatolia region. The empirical findings of the study show that both Turkey and the Eastern anatolia region have significant potential in terms of renewable energy sources, but that they do not make enough use of energy resources
The Relationship Between Manufacturing Flexibility and Performance: A Meta Analytical Study
Get PDFToday, manufacturing industries are trying to maintain and increase their competitiveness in an environment where constantly changing uncertainty prevails. The industry is increasingly searching for new technology to respond quickly and at low cost to fluctuating customer demands in the market. Manufacturing flexibility has become one of the prime areas of research in manufacturing technology. In the literature studies investigating the relationship between manufacturing flexibility and different aspect of performance are seen to yield differing results, and we are forced to consider that there might be other factors influencing this relationship. In this study an attempt was made to reveal the relationship between manufacturing flexibility and performance by means of a meta analysis of the combined results of separate studies carried out between 1990 and 2017 using an analytical technique.The resulting meta-analytical results are in line with the results of previous individual studies. The meta analysis findings have revealed a positive relationship between Advanced Manufacturing Technologies (AMT), Engineering Technologies (ET) and types of Administration Technologies (AT) on one side and production and overall performance on the other. Evaluations of the findings obtained in the study are presented
Corporate Governance and Performance: The Divergence of Operating and Share Performance
Get PDFCorporate governance principles are trying to ensure reliable and well functioning firms and sound financial systems, thus well-governed firms are expected to be performing better than their counterparts. The aim of this paper is to analyze the impact of corporate governance applications on operating performance and share performance of companies that are traded in Borsa Istanbul for the period 2007-2014. In order to understand the impact of corporate governance traits on share performance, we assume that we buy and hold the stock for 1 year and sell it at the end of the accounting period to match it with the accounting data and panel regressions are run to analyze the factors that have significant explanatory power over operating and share performance. According to the results, the corporate governance traits do not affect stock returns, but have a significant explanatory power over operating performance, measured by ROA and ROE. This divergence shows that good governance results with superior operating performance, however governance benefits are not priced by the investors. The paper has significant implications since it analyses one of the most attractive emerging equity markets, namely Borsa Istanbul which has approximately sixty percent share of foreign investors. The results are important for both policy makers and for the broad range of investors that are players in the market
Evaluation of Business Cycle Synchronization by the Oil Revenues (Markov Switching Bayesian VAR Analysis)
Get PDFThe synchronization of business cycles is one of the new topics that have been raised in recent decades in the field of international business at the same time of increased economic integration between countries. Accordingly, considering the influenced Iranian economy by the flow of business cycles, and given that synchronization is investigated by the existence of common factors, so in this study, the synchronization of business cycles of a country as OPEC member with the important and influential factors of oil, which have a significant effect on both the economy of the country and the world, has been studied. Due to the formation of business cycles and the process of oil revenue, the method used is Markov Bayesian VAR Switching (MSBVAR) analysis. According to the obtained results, the synchronization of business cycles between Iran and Iraq during 1985-2015 indicates the high synchronization and symmetry between the two countries' business cycles. The role of oil revenues is significant in justifying the degree of synchronization of business cycles. Regimen 1 (Stagnation) has been more stable than Regime 2 (Inflation) and Regime 1is more likely to be dominant
Using Markov Chains in Prediction of Stock Price Movements: A Study on Automotive Industry
No full textStock price prediction is on the agenda of most researchers based on the uncertainty in its nature. In past two decades, the literature on the development of prediction models for stock prices has extended dramatically. These studies mostly focused on specific industries such as banking and finance, petroleum, manufacturing, and automotive. In line with prior studies, the aim of this study is also to investigate the efficiency of Markov Chains Model, which is one of the most commonly applied models, in predicting the stock price movements for the firms operating in automotive industry and to reveal the possible contribution it can make to the decision making process of investors. Automotive industry is not only a major and industrial force worldwide, but also is a locomotive power that serves to many other industries. Thus, this study considers the firms operating in automotive industry and daily closing stock prices of all 13 automotive companies are collected for the calendar year of 2015. By defining three possible states (decrease, increase, and no change), individual state transition probability matrixes are formed for each company. Then, using the probabilities provided with these matrixes, different investment strategies are evaluated for the first five working days of 2016. According to the results of analysis, it is concluded that applying Markov Chains generates a positive income or at least minimizes the loss
Does the Consumer Want to Be Greened? The Place of Green Packaging Applications with Green Supply Chain Function in Consumer Perception
Get PDFThe aim of this research is to measure the effects of the packages that are presented as a result of the green packaging applications in food products and to the consumers, taking into consideration the environmental, health, quality, reusability and recycling benefits of consumers. For this purpose, a face to face questionnaire was applied to 371 consumers in Giresun province and the data obtained by using SPSS software, frequency analysis, descriptive factor analysis, independent two sample t-test and one-way analysis of variance were applied. Research results show that consumers at the lowest level of education and income group are more concerned with what the product is more about than packaging and they are more price-oriented than packaging. It has been determined that consumers with higher education and income levels have more meaning to packaging and have more environmental sensitivities. In the research, two groups of groups emerged at the point of packaging. Those who define their jobs as unemployed, housewives, retired and without a regular job, and those who define their profession as workers, civil servants, private sector employees and teachers. It was determined that the first group treated the environment and packaging properties by acting as price-benefit oriented, while the second group decided on the opposite direction and shaped the purchasing behaviors
A study on the efficiency of government spending, optimal fiscal policy and indigenous economic growth in Iran economy
Get PDFThe optimal combination of the government current and capital expenditures is very important from the aspect of influencing on the optimal economic growth, so that lack of attention to the type of government spending leads to inefficiency of the government fiscal policies and failure to achieve the high-valued objectives of economy. In the present study, we used the production function and considering efficiency of the government current and capital expenditures to evaluate their effects on the optimal economic growth. Then, we proposed appropriate policy recommendations. To this aim, we used the modified Devarajan’s model (1998) and vector error correction model for 1966-2013 time-series data. The results show that current and capital expenditures had respectively positive and negative effects on the optimal economic growth. In other words, in Iranian economy, current expenditures are more efficient than capital expenditures. This is in contradiction to the ideas about high efficiency of capital expenditures. The reason for this is the Iranian economy structure and the nature of government current and capital expenditures. So that capital expenditures despite accounting classification, have a non-development nature. This is because of low contribution of economic issues in capital expenditures and high contribution of economic issues in current expenditures. Moreover, due to non-flexibility of current expenditures over 70%, adopted current credits are allocated practically and only 10-30% of development credits are allocated. Selection of economic sectors for development expenditures is inefficient while, current expenditures leads to economic growth by creating real demand in the market.
Relationship Between Fraud Auditing and Forensic Accounting
Get PDFIn the study, the survey were applied to the work groups registered to the members of Chamber of Certified Public Accountants in Aydın. 193 members of the profession were reached. Their ideas were consulted about fraud auditing and forensic accounting. It was tried to fraud the reasons for fraud of the individuals and the companies, the people who fraud more and the behavioral charasteristics of the fraudsters. It was also mentioned about the regulations in our counrty and in the World about fraud and the issue, how effective these regulations, were studied were. The precautions and tools to find out the fraud and to prevent them were evaluated. Besides, the knowledge of the members of the profession were consulted about in which fields forensic accounting serve, the contributions to the avaiable profession, the participation into the inspectorial process and its effects. The gathered information as a result of the survey were analysisedwith the program SPSS for Windows 22.0. The test Man-Whitney-U was used for the analysis of the information between two indepent groups, the test Kruskall Whallis was used for comperation of the information among more than two indepent groups. The test Man-Whitney-U was used for the analysis of the differences as a follow-up of the test Kruskall Whallis