Eurasian Journal of Business and Economics

1-19

Authors: Hasan GOCEN , Halit AKTURK, Mehmet ORHAN

This article explores different aspects of an extraordinary event in Turkish banking sector: politically motivated seizure of Bank Asya by the state. We present how political motives play a key role in such an exceptional expropriation ignoring pillars of economic freedom. The attitude of the governing Justice and Development Party (AKP) on democratization path of Turkey is presented for further elaboration to bring revealing insight. Financial statement of Asia Participation Bank Inc. (Bank Asya) is detailed to indicate absence of economic ground for seizure. Our analysis on Bank Asya along with references to similar events and their repercussions point out possible severe legal enforcements against government authorities with political more than justice concerns and prejudgment.

39-60

Authors: Degan YU , Mehmet G. YALCIN , Koray OZPOLAT , Douglas N. HALES

With the frequency and magnitude of disasters on the rise, millions of people suffer huge losses every year. Scholars have recently proposed various frameworks in disaster relief management in order to guide the research in this field. Although successful disaster relief requires the entire humanitarian supply chain to respond in harmony, it is surprising that there exists no humanitarian relief framework drawn from the perspective of supply chain management. In this article, we create a new research framework for Humanitarian Supply Chain Management (HSCM) that is complimentary but distinct from commercial supply chain management (CSCM) frameworks. The framework we developed offers a new lens for humanitarian researchers. We also conduct a systematic literature review in this field and identify some opportunities for future research. The results strongly suggest the need for additional empirical research to test the existing concepts and models. Second, there is evidence that research focusing on “upstream” relief chain has been neglected relative to “downstream”. Additionally, due to its rapid advancement, information technology related research opportunities in this field would always be there

95-114

Authors: Mohammad M. RAHMAN , Changjun ZHENG , Badar N. ASHRAF

This study examines the impact of bank size on bank regulatory capital ratios and risk-taking behavior using a panel dataset of 30 Bangladeshi commercial banks over the period 2008-2012. The relationship between bank regulatory capital ratios and bank risk-taking is also examined. For empirical analysis, generalized methods of moments (GMM) panel method are used to explore the relationships among bank size, regulatory capital ratios and risk-taking behavior. Empirical results show that large banks hold lower amount of capital and take higher level of risk. Findings also show a reverse relationship between bank capital levels and bank risk-taking; that is, banks holding higher levels of regulatory capital are significantly less risky. Findings of this study has important implications for the Bangladeshi government, policy makers, banking regulators and bank stakeholders regarding bank size, regulatory capital requirements and overall banking sector risk-taking behavior.

141-165

Authors: Burcu OZCAN

This study aimed to analyze demand for oil in 20 selected OECD countries over the period 1980 to 2011, within the framework of panel data model. The long-run income and price elasticities of oil demand were computed and the Granger causality between variables of interest was tested. The results indicated that oil demand has positive and negative income and price elasticities, respectively. In addition, both income and price were inelastic in the long-run, but price elasticity was lower than income elasticity. Furthermore, a bidirectional causality running from economic growth to oil consumption and vice versa was obtained, providing evidence of feedback hypothesis. Based on these results, some crucial policy implications were suggested.

185-197

Authors: Trung Thanh BUI

Among many channels, stock market directly transmits the effect of monetary policy decisions because it quickly responds to policy news. The primary objective of this paper is to clarify the asymmetric effect of monetary policy on stock market volatility, which is believed to have adverse effects on the economy recovery, over its bull and bear period. We performed empirical research in a panel setting in which monthly data of ASEAN5 (Vietnam, Thailand, Philippines, Malaysia, and Indonesia) was collected from January 2006 to June 2013. To reduce identification and endogeneity problem, we used short-term interest rate as a proxy for the stance of monetary policy. The Markov switching model was used to identify the bull and bear periods of stock market. We employed feasible GLS estimator to examine the possible asymmetry. The empirical results have demonstrated the existence of the asymmetry in the monetary policy effect on the stock market volatility over stock market cycle in ASEAN5. The findings have suggested that monetary policy is more effective in bear market and that a tight monetary policy increases the probability of shifting stock market from bullish to bearish state.

219-238

Authors: Aziz BAKAY

This research investigates into interpersonal trust and workplace outcomes in organizations within social exchange perspective. Current study is building upon the theoretical underpinnings of trust studies that pose trust as a psychological state and a social glue. Current research develops a theoretical model of interpersonal trust presuming that different trust objects -namely peers and senior managementhave unique and direct effects on global workplace outcomes: Affective commitment, turnover intention, and job satisfaction. The data was collected via convenience sampling and data consists of 134 professionals working in Turkey. Structural Equation Modeling (SEM) using Partial Least Squares (PLS) is employed to test our model. Findings suggest that trust in peers and trust in senior management translate into higher affective commitment. Results indicate a positive association between job satisfaction and trust in senior management. Turnover intention however, did not significantly associate with any of the trust variables suggesting the difference between economic exchange and social exchange, which involves reciprocal behaviors. Simultaneous investigation of two trust objects in organizations as well as inclusion of variety of contextual factors bring rigor to the scope of the research and the explanations of workplace outcomes.