Eurasian Journal of Business and Economics

1-32

Authors: George BERULAVA & David LEZHAVA

The goal of the paper is to explore main determinants of the mode of transaction governance between manufacturers and distributors. We examine a number of types of transaction governance, viz., markets, relational transacting, and hierarchies. The model proposed in the paper integrates the concept of trust with key dimensions of transaction cost economics, being estimated with data from a sample of Georgian manufacturing industries. The main finding of the study is that trust along with traditional dimensions of transaction cost economics has a significant impact on the choice of exchange governance mode.

71-83

Authors: Nizamettin BAYYURT & Gokhan DUZU

The aim of this paper is to compare the relative efficiencies of manufacturing companies of China, one of the BRIC countries (BRIC: Brazil, Russia, India, China) that are expected to dominate the world economy in 2050s, and Turkey, that is an attractive emerging market (Morgan Stanley Index 2006) with great potential. We will determine the relative performances of Turkish and Chinese manufacturing firms using weight restricted Data Envelopment Analysis (DEA). Weights of inputs and outputs are estimated by canonical correlation analysis. Mean efficiencies of the firms of the two countries are compared by t-test. The results of DEA and statistical analyses indicate that Chinese manufacturing firms are highly efficient than Turkish manufacturing firms on average.

103-129

Authors: Ken ROBERTS, Gary POLLOCK, Heghine MANASYAN & Jochen THOLEN

This paper uses evidence from a series of studies of young people in a total of 12 excommunist countries, but mainly from surveys in Armenia, Azerbaijan and Georgia in 2007, and discusses changes and continuities since the early-1990s in typical labour market experiences. It is argued that the continuities outweigh the changes. In the early years of transition new career groups were created during the undermining of old types of employment and the emergence of new market-led employment opportunities. There have always been differences between countries, and between regions within countries, in the proportions of young people following different career routes. Similarly, there have been changes over time in some places in the proportions following the different career paths. Yet the evidence indicates that the career paths themselves have remained remarkably constant over time, and across different territories. The main career groups are: i. A small group who obtain jobs paying salaries that will support a western-type lifestyle. ii. Continuous regular private or public sector employment. iii. Business. iv. Under-employment. v.Unemployment. The paper discusses the processes that have created and which are maintaining the divisions between these groups