Uluslararası Ticaret ve Finansman Bölümü / Department of International Trade and Finance
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Publication Embargo A comparative performance analyze model and supplier positioning in performance maps for supplier selection and evaluation(Elsevier Science Bv, Sara Burgerhartstraat 25, Po Box 211, 1000 AE Amsterdam, Netherlands, 2012) Bilişik, Mutlu Emir; Çağlar, Hatice Nazan; Alp Bilişik, Özge Nalan; 110809In supply chain, supplier has an important role and in this situation supplier evaluation and selection is gained more significance for companies. So that, it is purposed to improve an evaluation model to evaluate and select suppliers more effectively by correlate with company's supply chain. For that reason, a form is designing to collect data from concerned company's personnel and performance measuring model which includes scoring methodology and correlation analysis that is called as "Performance-Effect" analysis in this study. With this model, it is proposed to divest supplier evaluation from its general evaluation concept by presenting alternative selection criteria, suppliers and methods for working with positioning of these in performance maps.Publication Metadata only A Gravity Model: Maritime Transport Costs and Their Impact on Economy(2019-10-04) Çalışkan, Nutren; 221061Due to transportation expenses, trade costs still protects its importance because no matter how companies try, they cannot zeroize their transportation cost. Maritime transportation is the most effective mode to move large quantities of cargo over long distances.1 That is why maritime most preferred transportation mode in international trade. The Gravity Model is a popular model in international trade theory. It named after Newton's "law of gravity." This model says that, trade between countries can be explained by their GDP sizes and transportation costs which are varied by the geographical distance between them. Turkey carries out approximately 70% of its foreign trade using maritime transport. In 2017, Turkey major trading partner countries for exports were Germany, United Kingdom, United Arab Emirates, Iraq and United States and for imports, they were China, Germany, Russian Federation, United States and Italy.2 Making use of these countries maritime transport costs, their GDP’s and their distances between each other, this study investigate the role of maritime freight costs and its effects on these countries economy by using gravity model.Publication Metadata only Are the Regulations in Force in Line with the Development of ICT?(2019-11) Görkey, Selda; 40657The share of Information and Communication Technologies (ICT) in economies has rapidly increased globally in the last decade. This rapid expansion has resulted in emergence of new indicators on the subject. Currently, there are numerous indicators from various aspects; however, some of those are incapable to represent the recent developments in the sector. Considering the most recent indicators on the subject, this study first aims at categorizing economies into groups depending on their ICT development level. Covering a cross-section of 139 economies in 2016, it uses cluster analysis as a methodology. The indicators used are; individuals using the internet, households with a computer, households with internet access at home, active mobile broadband subscriptions, and international internet bandwidth. Since the role of regulations and the legal environment is a crucial factor for ICT development, the study then focuses on ICT regulations in force in these economies by their level of existence. After that; it compares statistical findings, and the level of regulations in these economies. The purpose of such a comparison is to track and examine the consistency between ICT development levels and regulations in force, so that necessary policies can be proposed for further research.Publication Metadata only B-Spline Solution Of The Black-Scholes Partial Differential Equation(Eudoxus Press, Llc, 1424 Beaver Trail Drive, Cordova, Tn 38016 Usa, 2010-07) Çağlar, Nazan; İşeri, Müge; Çağlar, Hikmet; Özer, Mehmet; TR110809; TR114368; TR2509The numerical solutions of several mathematical models In the financial economics arc arising. Most of the models are based on the Black-Scholes partial differential equations. In this paper, the Black-Scholes option pricing model which has been used frequently is solved by using the B-spline functions. The numerical experiments showed that the present method is an applicable technique and gives an exciting results for European option pricing.Publication Metadata only Debt and Economic Growth Nexus in the US: Evidence from Asymmetric Casuality(11. Uluslararası İstatistik Kongresi, 2019-10) GÜMÜŞOĞLU, NEBİLE KORUCU; 115505The relationship between economic growth and debt has been studied for decades. This (casual) relationship can be different according to debt types, regions and countries. In this sense, the main motivation of this study is to find out if there is a casual relationship. Moreover, we aim to analyze the nonlinearity between economic growth and debt for the US. This asymmetric relationship is analyzed by vector error correction model. Preliminary results show that there is an asymmetric causality for debt and growth.Publication Metadata only Does ICT Industry Experience Jobless Growth? Empirical Evidence From OECD Economies(2019-11) Görkey, Selda; 40657The role o f Information and Communication Technology (ICT) industry is of rising importance, as it highly contributes to technological accumulation, and hence economic growth in economies. Even though expansion o f any industry or economy is expected to generate employment; many studies confirm that, economic growth is not always capable o f creating employment opportunities. Examination o f this issue, i.e. jobless growth, specifically in the ICT industry is beneficial as it requires highly-skilled labor. This study aims to empirically explore how output growth is successful at creating employment, and tests the existence ofjobless growth in ICT industry in OECD economies for the 1999-2016 period. The study first distinguishes the reaction o f employment to output growth in ICT industry, total industry and the overall economy; and then tests the lagged effects on each aggregate. After that, it divides the time-period into two sub-periods: 1999-2007 and 2008-2016, to explore the impact o f the 2008 Global Economic Crisis. The findings indicate significant, positive, yet quite low employment elasticity coefficients for the ICT industry and the overall economy. The coefficients rise slightly, and the coefficient o f total industry becomes significant with time lags. The findings emphasize that the impact of output growth on employment is the lowest in the ICT industry, compared to those of others. 1 % output growth yields only 0.21% increase in employment without lagged effects, and it reaches only to 0.343% after three years in the relevant industry. The findings also show that, the impact of wages on ICT employment is significant, yet mostly positive, as opposed to the theory; and the impact o f ICT exports is statistically insignificant. These results clarify that; even though output growth generates some employment in the ICT industry, it is not at sufficient levels and it has worsened after the 2008 Crisis, as expected.Publication Metadata only Does Technology Intensity of Exports Affect Youth Neet? Empirical Evidence from OECD Countries(2018-11) Görkey, Selda; 40657Exports decrease unemployment rate, and affect human capital accumulation by increasing educational attainment in an economy. However, the magnitude of such impact depends on technology intensity of exports. In addition to this, an increase in educational attainment does not guarantee transition of youth from schoo 1-to-work. In this context, investigating the impact of exports by their technology intensity on youth not in employment, education or training (NEET) is necessary for the analysis of trade and labor market interactions. The prospected contribution of this research is that it empirically explores the impact of low, medium and high technology exports on youth NEET by seeking an answer to the following research question: Does technology intensity of exports affect youth NEET? The study uses panel data analysis for 22 OECD countries, and it analyzes the time period from 1995 to 2015. The response variable of the model is the percentage of NEET population, and the independent variables are exports of low, medium and high technology exports. In order to control for country specific factors, the model also include control variables of GDP, population, schooling and the social policies towards unemployment.Publication Metadata only Emerging Private Education in Turkey : Determinants of Social Choice Via Houshold's Characteristics(2019-05) Yanık İlhan, Bengi; GÜMÜŞOĞLU, NEBİLE KORUCU; 15505Human capital is one of the crucial factors for growth and development. From this point of view, having equal educational opportunities should be ensured by governments. However, in most of the developing countries like Turkey, having equal educational opportunities seems as a phantasy. In this manner, the main aim of this study is to try to find out the determinants of school choices in Turkey and secondly to analyze if there are any gender differences or not. This choice is probably related to household’s choice, it is not a child’s choice. We use the youth survey conducted in Turkey in 2011 for 2366 youth in 35 selected provinces. The descriptive statistics of the sample is also presented to see the main picture of Turkey. Controlling the household characteristics such as father’s labor market situation, education, household’s income, household’s religious values, living areas and region, our first findings shows that for the case of males household income does not have an impact on being in a private education. However, it does have a significant effect for females. Interestingly, most of the regions do not have an impact on being in a private school. However, being in Aegean region does have a negative effect on being in a private school for males. Generally, for boys, it can be said that private school choice does not depend controlled variables. It means that households prefer sending their boys to private schools whatever their situation and whatever their characteristics. On the other hand, for girls there are many factors that can affect on choosing private schools.Publication Embargo Empirical Analysis of Foreign Exchange Rate and Stock Price Indices: Evidence from Emerging Countries(2018) Çetiner, Emine Müge; 2855The main aim behind this research is to find out the exchange rate risk on stock price indices return volatility of 22 emerging countries. The study is based on the monthly stock index and foreign exchange rate in relation the USD of the related 22 countries’ data between January 2000 and December 2016. Both fixed effect and random effect models were tested. The fixed effect model assumes that stocks are correlated with country specific exchange rates while the random effect model assumes residuals are uncorrelated with the country specific exchange rates. Furthermore, country specific variance on stock index return was tested using the Breusch and Pagan LR test, and it was found that there is no country specific volatility, which means that their variance is zero. This means that there are not any country specific effects in the model, which can be interpreted to mean that there is no medium or long-term arbitrage possibilities with international transactions. Finally, it was observed that exchange rate changes had a negative impact on stock index returns. The previous month’s stock market movement or random term did not have any impact on the current market returns according to AR and MA terms. Moreover, international foreign exchange market and stock market cooperate consistently, uncausing any arbitrage possibility on monthly basis. Daily models might detect short-term arbitrage failures in international transactions. Furthermore, there are asymmetric GARCH models to test the gain and loss volatility on transactions.Publication Open Access EPOL 2012 Proceedings Of The International Congress On Energy And Politics(İstanbul Kültür Üniversitesi Yayınları, 2012-04) Çağlar, Nazan; Dündar, Durmuş; İşeri, Müge; Pamir, Ahmet Necdet; TR110809; TR4962Publication Open Access FIBAC 2012 Proceedings Of The Internatıonal Finance, Banking & Insurance Congress(İstanbul Kültür Üniversitesi Yayınları, 2013) Çağlar, Nazan; Çağlar, Hikmet; Dündar, Durmuş; İşeri, Müge; TR110809; TR114368; TR4962Publication Embargo Further Education or Reenlistment Decision in Turkish Armed Forces A Seemingly Unrelated Probit Analysis(2010-04-19) Yıldırım, Jülide; Karasu, Şemsettin; GÜMÜŞOĞLU, NEBİLE KORUCU; 44786; 115505Previous empirical studies examining the determinants of re-enlistment probabilities have generally employed a univariate approach and have suggested that expected further education increases the likelihood of joining the army. However, the re-enlistment and further education decisions can be interdependent. Accordingly, this study employs a seemingly unrelated bivariate probit model to jointly estimate the factors that influence both further education and re-enlistment decisions. Empirical analysis indicates that there is a correlation between the re-enlistment and further education decisions, revealing that previous single equation models might be misspecified. Moreover the geographical background, education level of the conscript, intention of further education and previous unemployment duration are influential in the re-enlistment decision. Additionally, the further education decision appears to be determined by family and sibship characteristics, education level and age.Publication Metadata only Gendered patterns of higher education in Turkey: Advances and challenges(Pergamon-Elsevier Science Ltd, The Boulevard, Langford Lane, Kidlington, Oxford Ox5 1Gb, England, 2018-01) Sağlamer, Gülsün; Tan, Mine G.; Dursun Çebi, Pelin; Çaglayan, HiIlya; Poyraz, Bedriye; Öztan, Ece; Özdemir, İlkay; Tekcan, Münevver; Adak, Nursen; Özözen Kahraman, Selver; GÜMÜŞOĞLU, NEBİLE KORUCU; 115505; 152346; 151157; 120939; 102435; 8291; 2450; 147686Publication Embargo Great Recession, Financialization and Marxian PoliticalEconomy(2017-07) Bakır, Hasan; Bahtiyar, Görkem; 156110; 156109Mainstream economic approaches, such as Keynesian and Neoclassical, agree one another in that the crises of capitalism should be handled within the capitalism. While Keynesians defend preemptive state intervention to avoid crises, neoclassical economics believe that the market will solve all problems without the need to resort to state action. After the Great Depression in 1930, Keynesian economics gained popularity, while neoclassical economics took over in the 1970s. Today, Keynesian economics became popular again in the aftermath of 2008 financial crisis. According to them, there is no alternative to the market system. Marxian explanation of 2008 financial crisis presents an alternative to the both. In this light, the aim of this study is to discuss the Marxian take on the 2008 global crisis, focusing on the phenomenon of financialization in this context.Publication Open Access How do informal social networks impact on labor earnings in Turkey?(2019-07) Yanık İlhan, Bengi; Bayar, Ayşe Aylin; GÜMÜŞOĞLU, NEBİLE KORUCUThe informal social networks are one of the prominent factors in the labor market decisions both for the supply and demand side. Particularly, in developing countries, like Turkey, these informal networks have an influence on the labor market. However, even the existence of this issue, the impact of informal social networks has not been argued sufficiently for the Turkish case. In this respect, this study advances existing researches, by implementing the quantile regression method to reveal the impact of the informal social networks. The quantile regression analysis reveals the impacts of the different quantiles of wages. The Household Labor Force Survey (HLFS) is utilized for 2004-2016 period. The findings indicate that being recruited by social contacts has negative impact on wage levels and in consequence, aggregate productivity is decreased from low quality of labor force and the low return to the firm.Publication Metadata only Immersive Virtual Reality Games for Rehabilitation of Phantom Limb Pain(2019-10-03) Güngör, Feray; Tarakçı, Ela; Çubuk, Abdurrahman; Aydın, Muhammed Ali; AKBULUT, AKHAN; 116056; 277179; 101760; 176402Serious games mostly associated with rehabilitation systems with state-of-the-art virtual reality hardware and software products. This approach benefits from gamification that improves the participant’s engagement and makes cybertherapy sessions fun and interactive. This paper describes four different serious games for the rehabilitation of phantom limb pain (PLP) syndrome. Each immersive virtual reality game is designed to overcome the negative effects of PLP for different amputation regions including below-elbow, above-elbow, below-knee and above knee. We aimed to propose a low-cost, effective rehabilitation system that can be used at home instead of hospital-oriented physiotherapy routine. We used the Kinect sensor, a wearable surface electromyography (sEMG) sensor, and the Oculus Rift virtual reality headset to provide a longer therapeutic interaction between the patient and the cyber-therapy environment. Alpha test results of a pilot study with unimpaired healthy participants reveal the proposed system works practically in the home environment.Publication Embargo Insuring Supplıer Credıt Rısk In Exports To Promote Export Growth And Economic Development(2018) Çetiner, Emine Müge; Eke, Selda; 2855Purpose- The purpose of this study is to evaluate the effectiveness of the insured trade credit on the international trade abroad and in our country and to raise awareness about the issue that has great potential for growth in our country in the future. Methodolgy- The studies investigating the effect of the insured open account trade by private and officially supported export credit agencies on the development of exports and in general international trade were examined. The effect of export growth on economic development has been examined in order to assess the impact of export credit insurance. The fundamental concepts with the literature review have been summarized. Findings- Through the literature review, the following facts have been obtained. Supplier credit leads to the increase in sales of the supplier and that in turn leads to company growth. It is also an important financing source for the buyer who buys on credit also sells on credit and that leads to an increase in trade flows. It is complementary and alternative to bank loans especially in the periods of financial constraints when the companies are in need of working capital finance. Insured open account trade has a quite significant effect on increasing the exports of the country. At macro level, there is a dual causality relationship between export growth and economic development. Conclusion- As the result of the study, it has been concluded that the insured trade credit promotes the growth of trade flows and supply chains that would lead to the growth in trade volumes and economic growth.Publication Metadata only Long-Term changes in hot and cold extremes in Turkey(2018) Acar, Zahide; Gönencgil, Barbaros; GÜMÜŞOĞLU, NEBİLE KORUCUExtreme weathers are the leading cause of weather-related disasters all over the world. Many people lose their lives each year due to the triggering effect of cold or hot weather. The extreme days are generally defined as a period of several days of abnormally cold or hot weather. Increased frequency of these days could lead to death and disasters. This study analyzes the variability of minimum and maximum temperature defined anomalous temperature events. Daily minimum and maximum air temperature data from 156 weather stations in Turkey are analyzed to determine percentile threshold values (99th, 95th and 1st, 5th) at each station. Two statistical tests are applied to analyze trend in extreme values, namely Mann-Kendall trend analysis and cluster analysis. The Mann-.Kendall analysis demonstrates an increase in frequency of hot and extremely hot days, whereas cold and extremely cold days show a decreasing trend in Turkey. The extreme cold days have been the highest of the year 1972, 1983, 1992 and 1993, respectively. After 2005, extreme cold days begin to decrease. The frequency of extreme hot day has increased since 2000. Especially in 2010, it has been the warmest year in Turkey from the records of the stations during the study period.Publication Open Access Monitoring National Payment Schemes: Some Global Practices abd Turkish Payment Scheme - TROY(2018) Çetiner, Emine Müge; Kayalıdereden, Didem; 2855Since the beginning of 21.st century, disruptive innovations in technology have ushered a new era in payment systems. This article has been inspired by TROY, which is the “Turkey’s Payment Method” in Turkish, and it aims to put the local payment schemes on the map of Turkish Academia by exemplifying some best practices, why have been needed and what are the expectations lying behind them. It consists of five chapter which starts with the historical framework of modern cards payment industry and popularized concept; “cashless society”. In the second part, the answer to the question of “who are the key participants in a payment system?” is examined. In this context, modernized definition of the payment is made by shortly introducing some of new and ever-changing payment methods, namely mobile payments or crypto-currencies. Meanwhile, some countries have established their own payment schemes to gain advantages in the forthcoming technology race. Major national payment schemes are listed and occasionally analyzed in terms of implementations. Hereby, TROY is reviewed concisely and explained in terms of main features as a noteworthy implementation. Finally, despite of the mighty global payment actors, basis of existence and future value of national schemes are summarized.Publication Metadata only Non-Polynomial Spline Method for Fractional Diffusion Equation(Eudoxus Press, Llc, 1424 Beaver Trail Drive, Cordova, Tn 38016 Usa, 2012-11) Çağlar, Süleyman Hikmet; Çağlar, Hatice Nazan; Uçar, Mehmet Fatih; Akkoyunlu, Canan; TR110809; TR114368; TR107148; TR113376The one-dimensional fractional diffusion equation is studied systematically using the non-polynomial spline method. The Caputo fractional derivative is used for formulation. An example is solved to assess the accuracy of the method. The numerical results are obtained for different values (n) of equation. An effective and easy-to-use method for solving such equations is needed.