Eurasian Journal of Business and Economics

29-50

Authors: Varun MAHAJAN , D.K. NAURIYAL, S.P. SINGH

This paper measures the technical efficiency, super-efficiency, slacks, and input/output targets for large Indian pharmaceutical firms according to ownership by applying Data Envelopment Analysis (DEA) approach. The paper uses raw material, salaries & wages, advertisement & marketing and capital usage cost as input variables and net sales revenue as output variable. The super-efficiency model is applied to rank firms on the basis of efficiency scores. The paper finds that mean overall technical efficiency scores of Private Indian and Private Foreign are higher than Group-owned firms, suggesting that type of ownership affects the performance of a given firm. Further, foreign firms were found to have minimum slacks in inputs, evidently owing to their superior technology, better engineering skills and managerial practices. The study suggests that the inputs, such as, advertisement & marketing expenditure, and also the usage of labour and capital are required to be utilized far more productively in order to improve efficiency.

61-70

Authors: Nurlan ATABAEV , Gulnaz ATABAEVA, Damira BAIGONUSHOVA

This article examines the effects of remittances inflow on economic growth in Kyrgyz Republic. We analyzed relationships between the remittances inflow, real GDP, CPI, exchange rate, import and international reserves by using the vector autoregression approach (VAR) and monthly data for 2005-2012. As a result it has been found that remittances inflow positively effects on output and import which lasts only for two months and negatively on exchange rate of foreign currency (dollar).

91-107

Authors: Aziz BAKAY

Finance-growth nexus has been a prolific research subject whereas research exploring whether there is an interrelationship between financial system and economic growth is somewhat inconclusive (Levine, 2003). Remarkable studiesn noted that financial system and its level of development are argued to stimulate economic growth whilst some other important figures in academia investigated the opposite link or simply ignored such association. Current research aims to explore aforementioned association with respect to regional financial deepening in Turkey through developing a panel model and exploring causality. The level of total credits and deposits recorded in each province of Turkey in all banks -regardless of state, private or foreign owned- are utilized as measures of local financial deepening. Foreign trade of each province -both imports and exports- is hypothesized to be determined by financial deepening variables as well as a number of control variables. Results using panel data from 2007-2010 (81 province, N: 324) suggest that credits alone do significantly explain the amount of export and import of that particular province. Interestingly, amount of deposits is negatively associated with the level of imports. Combined measure for provision of financial services (sum of loans and deposits) statistically explains foreign trade (sum of exports and imports). Granger causality analysis revealed that there is bi-directional causal relationship between financial deepening and international trade.

137-154

Authors: Yusuf Ekrem AKBAŞ , Fuat LEBE , Fatma ZEREN

In this study, the validity was analyzed of the triple deficit hypothesis in Turkey between the years 1960 and 2012. First, the stationarity of positive and negative shocks related to the current account deficit, budget deficit, and savings gap was tested. As a result of unit root tests, it was concluded that all the positive and negative shocks were I(1). Then, the causal relationship was analyzed with regard to the aforesaid shocks of variables by means of an asymmetric causality test. As a result of the asymmetric causality test, bi-directional causality was found between the current account deficit and the budget deficit and between the current account deficit and savings gap. Therefore, it can be concluded that the triple deficit hypothesis is valid in Turkey.

183-208

Authors: Raushan ATANIYAZOVA , Jahongir NEGMATOV , Ziyodullo PARPIEV

This paper applies cost-benefit analysis (CBA) technique to estimate the effectiveness of hand hygiene and oral health interventions in Uzbekistan for children of kindergarten age (3-6 years old). Our primary objective in this study is to apply CBA framework to investigate economic viability of hand hygiene and oral health interventions on respiratory diseases (influenza, bronchitis, pneumonia),intestinal diseases (diarrhea, hepatitis A, and helminthiasis), and dental caries and stomatitis. Though it is often difficult to attribute a specific hygiene intervention to a reduction in specific illness, our study shows that prevention of disease through hygiene promotion is cost-effective. To be the most effective, however, hygiene interventions should be accompanied by education and awareness-raising of teachers, parents and children.

11-27

Authors: Osman SAHIN, Nurettin CAN & Erkan DEMIRBAS

The infrastructure investments are analyzed by taking the EU 12 and EU 15 division into account as a contribution to previous studies. The study comprised the period between 1980-2010 for EU 15, EU 12 and EU 27 and used generalized momentum method (GMM). Results of the study show that telecommunications investments have positive effects on growth in all groups, energy investments have positive effects in EU 15-EU 27 groups and investments on railway and road have positive effects only in EU 27 group.

29-49

Authors: Shaik Abdul Majeeb PASHA & Tolosa NEGESE

Micro finance involves the provision of micro-credit, savings, and other services to the poor that are excluded by the commercial banks for collateral and other reasons. Microfinance is relatively new to Ethiopia and came to existence during 1994-95. Out of which Sidama Micro Finance Institution (SMFI) is one among 31Micro Finance Institutions (MFIs) to serve needy people in Ethiopia. Based on this researchers’ intended to study major socio- economic factors and loan related factors that determines loan repayment performance of borrowers in SMFI. In fact, the identifying and analyzing such determining factors of loan repayment rate is vital in the achievement of profitability and sustainability of MFIs. In this connection, researchers’ collected data from primary and secondary resources and analyzed by using Binary logistic model is used. Through the study 14 determinants’ are selected for evaluation, out of which 9 variables are significant and remaining insignificant are found. Based on the analysis, researchers are recommended that proper training should be provided, reasonable amount of loan which should be useful to their business. Further, more age people and well business experience people can able to repay their loan amount` timely to micro finance institution.

69-90

Authors: Jianzhong DAI

This paper estimates productivity changes in Japanese shinkin banks during the fiscal years 2001 to 2008 using the Malmquist index as the measure of productivity change. Data envelopment analysis (DEA) is used to estimate the index. We also apply a smoothed bootstrapping approach to set up confidence intervals for estimates and study their statistical characteristics. By analyzing estimated scores, we identify trends in productivity changes in Japanese shinkin banks during the study period and investigate the sources of these trends. We find that in the latter half of the study period, productivity has significantly declined, primarily because of deterioration in technical efficiency, but scale efficiency has been significantly improved. Grouping the total sample according to the levels of competition reveals more details of productivity changes in shinkin banks.

105-118

Authors: Cem Harun MEYDAN, H. Nejat BASIM & Ufuk BASAR

This research discovers predictive effect of employees’ organizational citizenship behaviors on impression management strategies as well as moderation effect of power distance on this interaction. To that end data was collected from 178 schoolteachers, who work at three different public elementary schools in Turkey, through questionnaire and analyzed with multifarious statistical methods. The results from hierarchical multiple regression analysis indicated that individuals engaged in organizational citizenship behaviors in order to form expected impressions of themselves in others’ minds and perception of power distance has moderating effect on this process.

133-144

Authors: Kursad OZLEN , Meliha HANDZIC &Nermina DURMIC

This empirical study was carried out to investigate the impact of ICT-based knowledge management systems (KMS) of varying sophistication on decision support in varying decision contexts. The results indicate that the positive impact of KMS sophistication was limited to simple decision contexts only. In simple contexts, the availability of more sophisticated KMS led to more intensive balanced use of the available functions and features which resulted in improved decision quality, confidence and satisfaction. In contrast, greater KMS sophistication made no difference to system usage behaviour and decision performance in complex contexts. Such findings provide much needed empirical support for the proper fit between technology-orientated decision aids and simple decision contexts. Future research is needed to determine suitable solutions for complex contexts.

157-172

Authors: Kursat OZDASLI & Oguzhan AYTAR

Guidelines and principles feeding the system of belief have the power of diverting behaviors of an individual included in that system as well as being able to affect the management style of managers. Therefore, use of the term of management by basic sources of Islamic belief and which other sources it refers to along with the term of management will be helpful in understanding the holistic message given in terms of management in Islamic style, and approaching from a different aspect to the management literature. This study aims to reveal characteristics of management and related terms in basic Islamic sources, and with which words and in what aspects they are associated and used, and to see the perception of the religion of Islam on management. The content analysis conducted in this context included examination of the verses containing the terms of management, administration, leader, directing and steering.