Business Administration

Bu çalışmanın amacı, Türkiye'deki mevduat bankalarının 2002-2014 yıllarına ait yıllık bilanço ve gelir tablosu verileri kullanılarak; sermaye yapılarının net faiz gelirleri üzerindeki etkisinin panel veri analizi yöntemi ile incelenmesidir. Çalışmada, net faiz gelirleri/ toplam aktifler oranı bağımlı değişkenin; tasarruf mevduatı/toplam aktifler, toplam alınan krediler/toplam aktifler, toplam öz kaynaklar/toplam aktifler, ölçek büyüklüğü ve kriz dummy bağımsız değişkenlerinden ne şekilde etkilendikleri analiz edilmiştir. Analiz sonuçlara göre, mevduat bankalarının özkaynaklar/toplam aktifler oranının yüksekliği net faiz gelirlerini büyük ölçüde olumlu olarak etkilediği görülmüştür. Ayrıca bankaların net faiz gelirleri kriz dönemlerinde olumlu etkilenmiştir. Mevduat ve alınan kredilerin net faiz gelirleri üzerindeki etkileri anlamsız çıkmıştır.

The annual reports have been identified as one of the key corporate governance practice. If these reports are genuinely being prepared in an attempt to improve the clarity of communication with stakeholders, and give related and necessary information accurately to them, then they become one of the strategic tools affecting performance positively. Therefore, in this study, we aimed a semantic examination of the English versions of annual reports from companies quoted on Borsa Istanbul included in the Corporate Governance Index to see whether the annual reports' tone has an impact on company performance. With this aim, the contents of 2014 annual reports are analyzed by the text-analysis software package Diction 7 and scores for accomplishment, cooperation, activity and optimism are obtained. Efficiency scores are calculated by Data Envelopment Analysis to evaluate to what extent annual reports' tone and corporate governance ratings impact on company performance. The results show that the annual reports' tone and corporate governance ratings have a significant positive impact on efficiency scores, so on performances of companies.

This paper aims, to measure the levels of public disclosure of 92 manufacturing firms listed on Russian Stock Exchange and empirically investigates the link between the level of disclosure and firm performance proxies as of December 2009. To carry out this study, annual financial reports of the firms were accepted as a proxy for the level of disclosure released on firms' web-sites and the reports used to construct a disclosure index as a yardstick to measure the level of a firm's disclosure. A disclosure index was constructed as a yardstick to measure the level of firm's disclosure by using the firms' annual reports. CCR-DEA model and BCC-DEA model used to obtain efficiency scores. PDI and TA used as inputs, MV, MV/BV and Tobin's q used as outputs. Average score of PDI is 0,69. The highest PDI was 0.81 and the lowest one was 0.45. Only 7 firms have scale efficiency and the technical efficiency at the same time. Other 84 firms don't have total efficiency, technical efficiency or scale efficiency.

This paper reviews the concept of performance-based budgeting and how it has been applied at the Central Bank of the Republic of Turkey. It briefly surveys the PBB literature covering both state activities and the duties of central bank. It places the development of PBB at central banks in the context of changing public expectations and growing demands for efficient provision of state services. Then, it explains the model used by the Central Bank of the Republic of Turkey and discusses that model as a case study.

The technological developments in the banking sector have significant implications for banks and are dramatically changing the way retail banks conduct their business. Banks can invest in digital banking (DB) services either to acquire a strategic advantage or because doing so has become a strategic necessity. This study is organized to examine if DB service channels have any positive or negative impact on Turkish deposit banks’ performance. With this aim in mind, in the first stage of the proposed DEA model, physical assets are used. Then, in the second stage, DB service channels are added to see if they have any impact on banks’ performance. The results show that the banks are investing in DB services just to keep the competition as it is. In other words, they invest in DB services as a strategic necessity. DB services do not provide any strategic advantage to any banks in terms of financial performance or efficiency since the banks are already efficient. Investing in DB only help...

The aim of this paper is to analyze the main monetary policy shifts of central banks before and after the crisis and to see their impacts on monetary policy and communication strategies. In this regard, a number of central banks from developed and developing countries have been chosen and analyzed in terms of their monetary policy changes and especially their communication strategies. The research is based on a literature review and a holistic, multiple method case studies, drawing on websites, a primary communication tool for central banks, and on the basic reports on their websites. We also benefit from the survey commentaries of the BIS conducted in 2013. While central banks in developed economies try to minimize the negative impacts of global financial crises they started to use unconventional policies such as quantitative easing, negative interest rate policy and forward guidance. On the other hand central banks in developing countries not only try to minimize the negative impa...

It is important to see efficiency of accounting education in order to fully understand the operational environment of companies. In this study, the 45 public universities in Turkey was investigated by using Data Envelopment Analysis [DEA]. In order, some definitions for the outputs and inputs are required for the model. The criteria developed by American Assembly of Collegiate Schools of Business (AACSB) is used as definitions for inputs, is used and the result of the Selection Exam for Public Personnel [SEPP] is used to measure efficiency in accounting education. According to our results, Turkish universities are successful in producing the most appropriate output. They are usually using their input components in a favorable way. According to our model accounting education delivered in the undergraduate programs of the higher education system in Turkey is generally effective. But universities are using resources excessively to get the output. On the departmental basis, Turkish universities are technically effective to a great extent. It is determined that the departments of labor economics, industrial relations and partially public finance are more effective departments. According to resource usage, while the most effective departments are departments of public finance, departments of business administration are the most ineffective ones.

The main purpose of our study is to analyze the impact of firm characteristics on the web based business reporting practices of the companies listed in Turkey. Relevant literature associating these two variables have mostly conducted empirical research in the developed countries. Contrary to the common approach, this study focuses on the financial market of a developing country and examines the association between the web based business reporting and the firm specific characteristics. Our sample included 253 firms listed on the Istanbul Stock Exchange [ISE] (among which, there are no investment partnerships). In order to determine the disclosure levels of the web-based information, total and financial disclosure indexes have been constructed and, referring to the relevant literature, firm characteristics are determined to measure their potential impacts on the extent of information disseminated by ISE firms on their web sites. According to our results, size, industry classification and internalization could be used to explain level of information disclosed by the firms. Technology, risk and profitability are important factors for the Total Disclosure Index but not for the Financial Disclosure Index. Ownership structure, institutional investors and intangibles are the independent variables, which have not any significant association with the web-based disclosure behavior.

This study examines the disclosure of forward-looking information in annual reports of companies listed on Istanbul Stock Exchange (ISE). It aims to determine the factors influencing the decision of ISE listed companies to disclose forward-looking information. The factors proposed for the investigation consist of size, industry, institutional investors, internalization and intangibles. Since the annual reports represent the main source of voluntary disclosures of the forward-looking information, our investigation uses a disclosure index based on an analysis of the statements made by management in annual reports of the companies listed on ISE. In our study, the level of forward looking information disclosed in the annual reports of the firms is examined in two broad categories. We find that the total disclosure of forward looking information is positively related with the size and foreign offers, and negatively related with the variables of ownership structure, profitability, the level of foreign investment and the proportion of institutional investors. Additionally, the firms operating in service and finance sector disclose more forward looking information as compared with the manufacturing firms. Ownership structure and financial performance are determinant factors affecting the disclosure of financial forward looking information.

Purpose – The study seeks to extend the comprehension in entrepreneurial marketing (EM) and social value creation through searching the entrepreneurship process in the socially valued art industry. Design/methodology/approach – The study is based on a qualitative method: multiple case study. In total, six art-related innovative enterprises are chosen in different categories (art school, museum, art fair, art gallery, art media) in the art industry. Common properties of the cases are; creating social value in different scopes; and being pioneer and changing the rules in their fields as the entrepreneurial marketers. Findings – The result of the case study is based on the comprehensive model of entrepreneurship process and the findings are introduced in sub titles: antecedents of the entrepreneurship process; antecedents of non-profit and for-profit enterprises; ambidextrous entrepreneurship process; and ambidextrous dimensions of social value creation. Research limitations/implications – The study provides a new insight on social value creation and EM literature. Social implications – The art industry is closely related with social value creation and the study is valuable for filling the gaps between art and the entrepreneurship in this context. Originality/value – The study is valuable since it focuses on opportunity-related phases of entrepreneurship and introduces a holistic and process-based model in the context of cognitive and institutional environmental factors. The Ambidextrous Model of Entrepreneurship and Social Value Creation is valuable in order to inspire future researches, especially in EM.

The aim of the paper is to contribute to the comprehensive and holistic understanding of Art & Business researches in the delta of art-entrepreneurship-marketing. In the competition context, survival of business in the market is essential. The paper focuses on an extraordinary artist in order to understand the survival experience of the artist in 'the dilemma between innovation and legitimacy'. The paper emphasize that Art has a potential to provide some insights to Business theory especially to Entrepreneurial Marketing (with the alternative nature parallel to Art). The aim of this paper is to contribute and enlarge the link between EM & Art and to courage art-based view in business. Practical inquiry directed to the case study research on an extraordinary artist as an EMarketer in order to meet with this aim and explain the " how? " question of the survival experience in 'the dilemma between innovation and legitimacy' in art industry. It is believed that, art oriented approach to Business and lessons from an extraordinary artist matches with " Arts as Sources of Value Creation for Business " concept and has potential to get insights from art to business theory and practice in terms of business issues such as: competition and survival, innovation and legitimacy.

Entrepreneurship education becomes a great focal point of interest for researchers and national policy makers for stimulating students to pursue entrepreneurial careers. However, in literature there are conflicting views about the desired impacts of entrepreneurship education. This study tries to contribute to a better understanding of the intended impacts of entrepreneurship education. We investigated the impact of entrepreneurship education on the cognitive factors and psychological attributes of participants by relying on the socio-cognitive and trait approaches. For this purpose we conducted a quantitative research. We found a negative and insignificant impact of entrepreneurship education. Therefore, to understand how and in what ways entrepreneurship education impacts the participants we conducted interview-based qualitative research

PurposeThe aim of the study is to gain insight into the link between art and tourism from a value co-creation perspective. This link is discussed with the help of the arts marketing, art tourism and value co-creation literature. The role of art in tourism and the role of cultural places in arts marketing are also evaluated.Design/methodology/approachFocussing on two cultural heritage sites in Turkey, Zeugma and Göbeklitepe, a qualitative study was undertaken in order to determine the value creation and co-creation processes occurring from the art–tourism contexts based on comparative case study analysis. In-depth semi-structured interviews were conducted with three groups of actors. Motivation, expectation and stakeholder experiences were the main themes explored.FindingsThe findings of the study relate to the role of the co-creation process. Marketing art in alternative places creates value in closing the gap between art and society through the use of related fields such as culture...

In the framework of social aspects of marketing, referring the direct relationship between political parties and society and their goal to orient the large part of the society, ʹpolitical parties and election postersʹ is the main focus of this study. Political advertising are considered as activities that strengthen the bond of political parties and candidates with the public. Through establishing direct communication in the public sphere, election posters are an important part of the political marketing communication elements particularly at election terms. They provide to get an idea about the party and the candidate with promotional, persuasive and explanatory role. In order to search both the perception of political parties about society and the coherence between local election posters and general party image in terms of integrated marketing communication Semiotic Analysis is used as the method of this study. In the scope of Turkey 30 March 2014 Local Election and Ankara Case, three major parties (AKP, CHP, MHP) represented in Turkish Parliament (TBMM) are focused. Totally 39 posters were analyzed including general party posters (8 posters), Ankara Metropolitan Mayor Candidate posters (13 posters), Çankaya and Keçiören candidate election posters (14 posters).

teknolojik, bilimsel, ekonomik, sosyal, kültürel ve siyasal alanda birçok gelişme yaşanmış; bu gelişmeler insanlık tarihini her şeyin hıza ve yeniye endekslendiği bir sürece sürüklemiştir. Sanayi devrimi, yükselen kapitalizm, seri üretim, kentlileşme gibi olgular üretim ve tüketim ilişkilerine ivme kazandırmış; geçmişte hâkim olan ihtiyaç doğrultusunda üretme ve tüketme anlayışı yerini 'zorunlu ihtiyaç' ötesi tüketim anlayışına bırakmıştır. 'İhtiyaç' kavramının sınırları genişlerken, tüketici için ihtiyaç olanın ötesi 'yenilik' adı altında sunularak; 'tüketici' olarak kodlanan bireyler yeniliğe atfedilen olumlu imajlar aracılığıyla yeni olana ve 'yenilik' e özendirilmektedir. Öyle ki 'yenilik' üretim cephesinde 21. Yüzyıla damgasını vururken, yeniliğin sürdürülebilirliğini sağlayan 'tüketim toplumu' da dramatik bir hızla 21. Yüzyılın sosyal profilini oluşturmaya devam etmektedir. Çalışma 'yeniliğin ekonomik gelişmedeki rolünü yadsımazken, tüketim ve yenilik konusundaki paradoksları 'kültür endüstrisi' bağlamında kavramsal olarak tartışmanın yanı sıra nitel bir araştırma da sunmaktadır. "Tüketim Toplumu" ve "Yenilikçi Tüketim" ile ilgi algı ve düşünce "Girişimcilik ve Yenilik Yönetimi" alanında lisansüstü eğitim alan yetişkinler özelinde araştırılmıştır. 63 kayıtlı öğrencinin 56' sına ulaşılmış; bireylere 'tüketim toplumu' ve 'yenilikçi tüketim' konusuyla ilgili görüşleri sorulmuştur. Görüşmelerden elde edilen veriler kategoriler oluşturularak; içerik analizi yöntemiyle değerlendirilmiştir. Araştırma sonunda, katılımcıların 'tüketim toplumu' kavramını 'yenilikçi Özge Gökbulut Özdemir / Deniz Özer Girişimcilik ve İnovasyon Yönetimi Dergisi / Journal of Entrepreneurship and Innovation Management 26 tüketim' kavramından farklı algılayarak eleştirirken; yeniliğin insanlara fayda sağladığı konusuna vurgu yaptıkları görülmektedir.

Finance literature presents two alternative theories explaining capital structures of enterprises: Pecking Order Theory and Trade-off Theory. Although both theories have same common propositions, trade-off and pecking order theories make different estimations about the determinants of leverage and the relationship between leverage and dividend.

In Model 1 and Model 2 established in this study, a significant negative correlation is found between leverage and profitability and between leverage and firm size. In Model 2, no significant result is found between leverage and dividends which are paid previous years. These results broadly support the pecking order hypothesis instead of trade-off hypothesis. Generally, results obtaining from models provide tentative supports for pecking order theory. Using publicly announced annual statements of firms in industry sector quoted on ISE are used for the term between 1990-2005 it is concluded that the industrial firms prefer conventional models in determining capital structures.

The well documented literature on the relation between energy consumption and climate change has been extended by the addition of renewable energy consumption. Several studies show its impact on technical efficiency, per capita income or carbon dioxide (CO2) emission levels for developed and developing countries. However, to the extent of our knowledge, very few of them state the importance of renewable energy for the countries where the main type of fossil fuels, oil, is exported. This study aims to explore the association between renewable energy, real gross domestic product (GDP), CO2 emission level, real oil prices as well as the proven oil reserves for seven members of Organization of the Petroleum Exporting Countries (OPEC). The analyses are conducted using panel data techniques, namely fixed effect – random effect tests. Our results show a positive and significant relation between renewable energy consumption, and real GDP and CO2 emission level. A statistically not significant coefficient is found for the relation between renewable energy and the proven oil reserves. The relation between energy and real oil prices is also insignificant.