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Permanent URI for this collectionhttps://hdl.handle.net/20.500.12416/402

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The intermediary institutions which are preferred for manipulative trading: Evidence from an emerging market
(2017) Doğanay, Mete; Aktaş, Ramazan; Somuncu, Kartal
This research investigates the type of intermediary institutions chosen by the manipulators for their manipulative trading. Univariate and multivariate analyses are performed and three variables having significant effect on the manipulators’ choice of intermediary institution for their manipulative trading are found. These variables are being publicly traded, size in terms of total assets, and gross profit margin. Being publicly traded and size are positively; gross profit margin is negatively related to the manipulators’ choice of intermediary institution for their manipulative trading. Managers of the intermediary institutions and regulators should be aware of these results and regulators should scrutinize high volume transactions conducted through this type of intermediary institutions more closely.
Citation - WoS: 4
Citation - Scopus: 5
Mahalanobis Distance Under Non-Normality
(Taylor & Francis Ltd, 2010) Tiku, Moti L.; Islam, M. Qamarul; Qumsiyeh, Sahar B.
We give a novel estimator of Mahalanobis distance D2 between two non-normal populations. We show that it is enormously more efficient and robust than the traditional estimator based on least squares estimators. We give a test statistic for testing that D2=0 and study its power and robustness properties.
Does workplace envy always have detrimental consequences in organizations? A study of public and private sector employees
(2020) Şener, İrge; Karabay, Melisa; Elçi, Meral; Erman, Halil
Purpose Based on the situational approach for envy, the purpose of this paper is to examine the effect of two-dimensional workplace envy (being envied and envying others) on the task and contextual performance of employees working in either private or public sector organizations. Design/methodology/approach This study was conducted on survey data collected from 988 private sector employees and 530 employees from the public sector employed in Istanbul. Following a quantitative empirical design, structural equation modeling was used to test the hypotheses. Findings The study results revealed that envying-others dimension has a significant negative effect on both task performance and contextual performance. In addition, the findings indicate more envious feelings of private sector employees than public sector employees. For public sector employees, male participants were found to envy others more than females. Research limitations/implications In addition to the contributions, this study has its limitations. First, although the study was carried out with a comprehensive sample, it is limited to the views of 1,518 employees in Istanbul and is a cross-sectional study. Also, employee performance is evaluated through self-reporting, which forms another limitation; it could have been more reliable for the supervisors to assess their subordinates' performance. Practical implications Apart from scholars, our findings have implications for practitioners. Feelings such as envy that comes with a sense of competition can create an environment that stimulates people, motivates them to work, can make them productive and can also cause an ultimately destructive situation. This makes it critical to manage envy in the workplace. Though there may be facilitators behind it, one crucial factor that fuels envy in the workplace is the lack of fair human resources policies and systems. Still, human resources management is undeveloped in most public organizations. With effective human resources management, there may be some roadmaps for managers to dissolve conflicts arising from envy. First, it is imperative to have systems that will separate the employee from the others, which everyone will accept, strengthening the feelings of justice among employees. Envy often occurs following a social comparison. Management can implement an incentive system that supports employee collaboration and avoid nepotism. Especially in private organizations where the competition is more among employees, managers should give more attention to understand their subordinates' feelings. The managers' attention to expressing their feelings toward their subordinates could establish an equal distance within the workplace. In this sense, language selection is critical, and managers should be mindful of linguistic triggers. Managers should not avoid giving both positive and negative feedback to their employees. Unwarranted and unsystematic reward and/or punishment systems, made with the good intentions of increasing competition, can trigger envy. Finally, managers should implement an open-door policy and open communication that will encourage all team members to be transparent to each other. Originality/value The study was based on a rationale that envy has detrimental workplace outcomes that lead to low task and contextual performance. Although there exists a recent interest for examining the relation between workplace envy and employee performance, based on being envied and envying others dimensions, these studies are limited. This study focuses on these dimensions and performance relations, and it also provides a comparative outlook for public and private sector employees in Turkey in terms of workplace envy.
Citation - WoS: 4
Citation - Scopus: 9
Turnover, Ownership and Productivity in Malaysian Manufacturing
(Routledge Journals, Taylor & Francis Ltd, 2013) Dogan, Ergun; Wong, Koi Nyen; Yap, Michael M. C.
Applying Foster, Haltiwanger, and Krizan's decomposition of productivity growth method to Malaysian manufacturing census data for 2000 and 2005, we analyze if firm turnover by ownership (domestic vs. foreign) has any impact on the sector's aggregate productivity growth. The findings show that turnover matters regardless of ownership, but more importantly, attracting foreign direct investment inflows could induce positive net entry effect'. The analysis shows that large-sized foreign and domestic entrants are more productive than medium-sized and especially small-sized ones. The study provides important implications for government policies based on ownership and firm size.
Kadınların Yoksulluğu Yaşama Biçimleri : Yapabilirlik Ve Yapabilirlikten Yoksunluk
(2004) Kardam, Filiz; Yüksel, İlknur
Bu çalışmada düşük sosyo-ekonomik gruptaki kadınların yoksulluğu algılamaları, yoksullukla ilgili tecrübeleri ve yaşam stratejileri Amartya Sen’in ‘yapabilirlik yaklaşımı’ndan yararlanılarak analiz edilmiştir. Makalenin amacı, temel kapasiteleri ve yaşam deneyimleri farklılık gösteren kadınların yoksulluğu yaşama biçimleri arasındaki benzerlik ve farklılıkları ortaya çıkarırken, gelir ve tüketimin yanı sıra maddi olmayan kaynakları ve olanakları da ele almaktır. Çalışmada, Ankara’da düşük gelir grubunda yaşayan 40 kadın ile derinlemesine görüşmeler yapılmıştır. Görüşülen kadınların evleri ve çevreleriyle ilgili gözlemlere ek olarak yoksulluğu önleyici programlara sahip bazı kurumlardan da bilgi edinilmiştir.
Citation - WoS: 9
Citation - Scopus: 7
Distinct Asymmetric Effects of Military Spending on Economic Growth for Different Income Groups of Countries
(Taylor & Francis Ltd, 2023) Ocal, Nadir; Yildirim, Julide; Karadam, Duygu Yolcu
Although possible asymmetries for univariate and multivariate dynamics have been the focus of interest in many areas of economic explorations, it seems that most of the research on military expenditure - economic growth nexus has tended to assume linear relationships. This paper aims to examine possible nonlinearities in military expenditure-economic growth nexus employing data for a sample of 103 countries covering the 1988-2019 period. For this purpose, Panel Smooth Transition Regression, PSTR, models are estimated not only for all countries' sample but also for low income, middle income, and high-income countries' subsamples to reveal possible distinct asymmetric relationships for country groups with different income levels. Empirical results for the whole sample, low income and middle income groups indicate that military expenditure not only governs the regime change, but also low and high levels of military expenditure have distinctive and rising negative effects on economic growth with dissimilar threshold effects. Moreover, empirical findings also indicate that net arms exports govern regime change for high income countries, and as net arms exports rise, the negative impacts of military expenditure on economic growth become deeper.
Nonnormal Regression.I. Skew Distributions
(2001) Islam, M. Qamarul; L. Tiku, Moti; Yildirim, F.
In a linear regression model of the typey¼ Xþe, it is oftenassumed that the random erroreis normally distributed. Innumerous situations, e.g., whenymeasures life times or reac-tion times,etypically has a skew distribution. We considertwo important families of skew distributions, (a) Weibull withsupport IR:ð0,1Þon the real line, and (b) generalised logisticwit hsupport IR:ð 1,1Þ. Since the maximum likelihoodestimators are intractable in these situations, we derivemodified likelihood estimators which have explicit algebraicforms and are, therefore, easy to compute. We show that theseestimators are remarkably efficient, and robust. We develophypothesis testing procedures and give a real life example
Citation - Scopus: 8
Bitcoin Market Price Analysis and an Empirical Comparison With Main Currencies, Commodities, Securities and Altcoins
(Springer Science and Business Media Deutschland GmbH, 2019) Dinçergök, B.; Haşlak, Ş.; Pirgaip, B.
The purpose of this study is to analyze Bitcoin (BTC) market prices and to answer the question of whether there is a relationship between BTC and other asset prices, where other assets include currencies, commodities, securities and altcoins. In the empirical part, we evaluate the lead-lag relationships among each type of asset. Consequently, we compare BTC with major currencies and stock exchanges of the U.S., the EU, the U.K. and Japan (USD-SPX, EUR-DAX, GBP-FTSE and JPY-NIK), with currencies and stock exchanges of the U.S., the U.K., Russia, Venezuela and China where BTC is actively traded (USD-SPX, GBP-FTSE, RUB-MOEX, VEF-IBVC and YUAN-SSCE), with major commodities (GOLD and OIL) and with major altcoins (ETH, XRP and LTC) on a daily basis for the period spanning from 2010.07 to 2018.12. We employ Johansen co-integration, Granger causality, impulse response functions and forecast error variance decomposition analyses in our study. Our results show that BTC does not have a long-run relationship with any asset type, but that it has a short-run relationship with gold and especially altcoins, which are both significant and bidirectional. While BTC and altcoins are closely interrelated with each other, BTC price variation is mostly borne by its own prices in all cases. © Springer Nature Switzerland AG 2019.
Citation - WoS: 1
Legislation on Ottoman Copyright Law
(Selcuk Univ, inst Turkish Studies, 2007) Çakmak, Diren; Cakmak, Diren; Siyaset Bilimi ve Uluslararası İlişkiler
In this study the age of copyright law in Turkey is 157 years is determined and, the fact that copyright as a term has entered in our country in the year 1850 with Statute of Encumen-i Danis, the first legal text on copyright is Statute of Copyright dated 1857, Statute of Copyright and Translation dated 1870 is compensatory legal text of Statute of Copyright, the second legal text on copyright is Code of Copyright dated 1910 is determined.
Impact of exchange rate and customs uinon on trade balance at commodity level of Turkey with EU (15)
(Juraj Dobrila ,University Pula, 2011) Yazıcı, Mehmet; Islam, M. Qamarul
This paper investigates the short-run and long-run impact of exchange rate and customs union on the trade balance at commodity-group level of Turkey with EU (15). Bounds testing approach is employed where a new strategy in the model selection phase is odopted ensuring that optimal model is selected from those models satisfying both diagnostics and cointegration. Results indicate that in the short-run exchange rate matters in determination of trade balance of 13 commodity groups out of 21 and customs union in 8 cases. Pattern of response of trade balance to exchange rate does not suggest a J-curve effect in any of cases. As for the long-run effect, neither exchange rate nor customs union has a statistically significant effect on trade balance of any of commodity groups, suggesting that those significant short-run effects don't last into long-run
The Journal Forum: 1954-1960 in Turkey
(Common Ground Research Networks, 2007) Cakmak, D.
In the ten years (1950-1960) of Democrat Party rule in Turkey, intellectuals were obliged to create some alternative centers of power, particularly in view of government's oppressive policies towards the universities and the press. Forum Journal constituted one such center of criticism. Forum's writers -most of whom were educated in the republican regime- opposed the DP's pragmatic approach to politics and wanted to center political life on reason and to eliminate conservative attitudes. Most of the writers were from the Faculty of Political Science in Ankara University. Forum started to be published in April 1954. Forum did not aim at a struggle to acquire political power. Forum had an influence on almost the whole of the Turkish intelligentsia in the years 1954-1960. The institutions and ideas suggested by Forum were realized to a large extent with the Constitution accepted after the military intervention in the year 1960. For example, the establishment of a second chamber of the legislative assmebly -the Senate-, the constitutional court, the state planning organization, autonomous universities, independence of judges, free press, granting rights to strike and collective negotiations to workers, free opposition, the principal of social equality..etc that had all been discussed in the pages of Forum, found place in the Constitution 1961. So it is possible to claim that Forum Journal with its great contribution for the reconsolidation of the democratic regime demonstrated the higly significant role in Turkish political life. Forum writers treated the military intervention in 27 May 1960 as the liberator of Turkish democracy although it caused a temporary break in the democratic regime. This study which is based on the evaluation of Forum Journal will be a serious contribution considering the journal's support in military intervention of 1960 in Turkish political life. © Common Ground, Diren Cakmak, All Rights Reserved.
Benlik Saygısının Çatışma Yönetim Stilleri Üzerindeki Etkisi: Bir Üniversite Hastanesi Örneği
(2013) Tunç, Tülin; Kutanis, Rana
Bu araştırmanın ana amacı; benlik saygısının bütünleştirme, kaçınma, uyma, hükmetme ve uzlaşma olarak ifade edilen çatışma yönetim stillerinin her biri üzerindeki etkilerini ortaya koymaktır. Benlik saygısı ile her bir çatışma yönetim stili arasındaki ilişkileri ve katılımcıların bazı sosyodemografik özelliklerine göre çatışma yönetim stilleri arasındaki farklılıkları belirlemek de alt amaçlardır. Bir üniversite hastanesinde görev yapan 267 hekime, nicel yöntem bağlamında anket formu uygulanmıştır. Katılımın gönüllülük esasına göre belirlendiği araştırmada, geri dönen ve analize dahil edilen anket sayısı 183 olup, geri dönüş oranı % 68.54’tür. Katılımcıların anket formundaki ‘Rosenberg Benlik Saygısı Ölçeği (RSES)’ ve ‘Rahim Örgütsel Çatışma Envanteri-II (ROCI-II)’ni doldurmaları ile elde edilen nicel veriler analiz edilmiştir. Elde edilen bulgulara göre; cinsiyet, medeni durum, yaş, meslekte toplam çalışma süresi (kıdem) ve statü değişkenleri açısından, katılımcıların bazı çatışma yönetim stillerinde farklılıklar olduğu; benlik saygısının bütünleştirme, kaçınma ve uyma stilleri ile ilişkili bulunduğu; ayrıca, bu stilleri etkilediği ortaya konmuştur.
Turkish Agricultural Import and Export Demand Functions: Estimates From Bounds Testing Approach
(Routledge Journals, Taylor & Francis Ltd, 2012) Yazici, Mehmet
This paper estimates the import and export demand functions for Turkish Agriculture based on the annual data for 1970-2003. The bounds testing approach to the cointegration and the error correction modeling is employed. We, however, adopt a new strategy in the model selection phase and select the optimal model from those models that satisfy both diagnostics and cointegration, thus, unlike the previous literature, ensuring that a statistically reliable and cointegrated model is picked up. Results indicate that for the import demand, relative price is a significant determinant in both short-run and long-run, nominal effective exchange rate matters only in the long-run, but domestic income is not at all a significant determinant for Turkish agricultural import demand. As for the export demand, while all determinants affect the export demand significantly in the short-run, given the relatively small share of Turkish agricultural exports within the world agricultural exports, none individually matters in the long-run.
Determinants Of Turkish Mining Trade Balance With Eu(15): Estimates From Bound Testing Approach
(2016) Yazıcı, Mehmet; Islam, Qamarul
We estimate the short-run and long-run determinants of the trade balance of Turkish Mining with EU (15) countries as well as impact of Customs Union (CU) agreement using the bounds testing approach to the cointegration and the error correction modeling. In selecting the optimal model, we follow Yazici and Islam (2011a, 2011b, 2012) and Yazici (2012) and adopt their model selection strategy where selection is made from the set of those models that satisfy both diagnostic tests and cointegrtion, thus ensuring the selection of a statistically reliable and cointegrated model. Estimation results based on the data for 1988-I to 2008-IV period indicate that in the determination of mining trade balance in the short-run only real domestic income matters. Long-run results indicate that real exchange rate and real domestic income variables have coefficients with expected signs but they are not statistically significant. Only statistically significant long-run determinant of mining trade balance is real EU(15) income. Dummy variable for the customs union agreement does not have a statistically significant coefficient, meaning that the agreement does not have a significant long-run effect on mining trade balance of Turkey with EU(15).
Citation - WoS: 4
Citation - Scopus: 5
Analysis of Distinct Asymmetries in Financialintegration-Growthnexus for Industrial, Emerging and Developing Countries
(Wiley, 2022) Ocal, Nadir; Yolcu Karadam, Duygu
This paper examines the threshold conditions in financial integration and growth relationship for a large set of threshold variables and different income group of countries employing Panel Smooth Transition Regression Models. Except developing countries, our findings strongly indicate nonlinear dynamics and imply that the impact of financial integration on growth is asymmetric depending on a number of indicators such as countries' degree of institutional quality, financial sector development, trade openness, budget deficit, inflation volatility and the level of financial integration. Our results show that these threshold effects substantially differ for emerging and industrial countries. As far as whole set of countries is concerned, our findings imply that countries having developed financial systems, qualified institutions and stable macroeconomic environment benefit from financial integration. Moreover, threshold effects are stronger and different for emerging countries compared to the industrial countries. Unlike emerging economies, higher levels of financial integration and trade openness decrease benefits from financial openness for the industrial countries. Besides, high fiscal deficit has more pronounced negative effect on the growth of the industrialized countries compared to emerging economies and other indicators.
Citation - WoS: 4
Citation - Scopus: 4
Estimation in Multivariate Nonnormal Distributions With Stochastic Variance Function
(Elsevier Science Bv, 2014) Islam, M. Qamarul
In this paper the problem of estimation of location and scatter of multivariate nonnormal distributions is considered. Estimators are derived under a maximum likelihood setup by expressing the non-linear likelihood equations in the linear form. The resulting estimators are analytical expressions in terms of sample values and, hence, are easily computable and can also be manipulated analytically. These estimators are found to be remarkably more efficient and robust as compared to the least square estimators. They also provide more powerful tests in testing various relevant statistical hypotheses. (C) 2013 Elsevier B.V. All rights reserved.
Do Depreciations Really Trigger an Inflow of Foreign Direct Investment? The Case of Turkey
(Sosyo Ekonomi Soc, 2018) Erünlü, Zeynep
In this study, the relationship between real exchange rate and foreign direct investment is examined using the Logistic Smooth Transition - Autoregressive Distributed Lag (LST-ARDL) model. Analyzing the effect of real exchange rate changes on foreign direct investment is very crucial for a developing country like Turkey which has a relatively large foreign debt stock. The estimation results show that foreign direct investment inflows to Turkey increase when Turkish Lira appreciates against the US dollar and this effect is especially strong during periods of high investment inflows. Thus, for Turkey to attract productive capital flows rather than unstable short-term portfolio flows it has to maintain a strong currency against the US dollar.
The Effect of Energy Importation from Russia on Turkey's Current Account Deficit
(2019) Erkılıç, Tuna; Temiz Dinç, Dilek; Gökmen, Aytaç; Yazıcı, Mehmet
Energy is a fundamental input of social and economic development of a country. Yet, some of the countries in the world are rich in terms of energy and some countries lack the necessary amount of energy they require. The Republic of Turkey is situated at the threshold of Eurasia and is close to the richest energy basins of the world in its vicinity. However, Turkey is not self-sufficient in terms of energy and in order to correspond to its increasing energy necessity, it must import energy from neighboring countries, mainly from Russia. Moreover, the aim of this study is to analyze the energy trade of Turkey with Russia and its impact on its current account deficit. In order to analyze this issue, various econometric methods are utilized in this study. With respect to this analysis, it is evident that the energy importation of Turkey from Russia leads to an increase in its current account deficit.
Citation - WoS: 2
Citation - Scopus: 2
On the Heterogeneous Effects of Tax Policy on Labor Market Outcomes
(Wiley, 2022) Adnan, Wifag; Arin, Kerim Peren; Corakci, Aysegul; Spagnolo, Nicola
Many recent studies have documented the heterogeneous effects of government-spending shocks on major macroeconomic variables, particularly on output. We delve deeper into the heterogeneous effects of fiscal policy innovations, but focus on the tax policy innovations and their impact on the labor market, while accounting for gender, race, ethnicity, and the business cycle. Using microlevel data from the United States, we find that: (i) Tax shocks have varying employment effects depending on gender, race, and the stage of the business cycle; (ii) Sector, industry, and occupational segregation in labor markets by gender, race, and ethnicity can explain most of the variation in response to fiscal policy shocks.
Citation - WoS: 8
Citation - Scopus: 11
Firm Size and Job Creation: Evidence From Turkey
(Routledge Journals, Taylor & Francis Ltd, 2017) Islam, M. Qamarul; Yazici, Mehmet; Dogan, Ergun
This study examines the relationship between firm size and job creation by using an extensive data set covering all non-farm Turkish businesses with 20 or more employees from 2003 to 2010. We find that small firms (firms with employees between 20 and 100 employees) have higher mean job flow rates (job creation, job destruction and net job creation rates) than large firms. Firm size and job flow rates are inversely related, and this relationship is especially prominent for firms with 50 employees or more. Although the overall pattern observed is also observed in both sectors, job creation rates in services are higher than the ones in manufacturing. The magnitudes of job destruction rates are comparable across sectors. Higher job creation rate in services but comparable job destruction rate results in higher net job creation rate in services. As for shares, only for smaller firms (20-49 and 50-99 size categories), job creation shares are greater than their shares in employment. But these firms have disproportionate job destruction shares as well. We also find that only the 20-49 category firms contribute to net job creation more than their share in employment. The smaller firms have high disproportionate shares in job creation and destruction in manufacturing and services as well.

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