Business and Economics Research Journal

749-760

Authors: Mehmet Cinar, Ndzembanteh Aboubakary Nulambeh

This paper examines the impact of foreign direct investment and trade openness on economic growth for 34 Sub-Saharan African countries. The methodology involves estimating the augmented endogenous growth model using panel data that runs from 2006 to 2015. The coefficients of the estimated REM model are statistically significant with all the signs compatible as expected. Our findings show that all the variables are significant in explaining SSA growth. Specifically, foreign direct investment and trade openness positively impact growth except inflation with a negative effect on growth. This study will assist the policymakers to increase effort towards the creation of favorable business climate that attract more foreign direct investment to SSA and enhance long-term growth.

773-785

Authors: Abdullah Acik, Sadık Ozlen Baser

The aim of this study is to determine the causality between oil production and freight rates in the seaborne oil transportation in the world. The causality with oil prices has been studied more in the literature, but the studies that examine the causality with oil production have been limited. However, the effect of the crude oil production amount on the market is also great. The methods that can detect delayed causality have been utilized unlike the existing literature. While the Baltic Dirty Tanker Index (BDTI) and Baltic Clean Tanker Index (BCTI) variables are used as the measurement for the tanker freight rates, the Bloomberg oil production index variable is used as the production measurement. The data set used in the study consists of 239 monthly observations covering between August 1998 and June 2018. Standard causality analysis developed by Granger (1969) is used for linear causality, and nonparametric tests developed by Hiemstra and Jones (1996) and Diks and Panchenko (2006) are used for nonlinear causality analysis. While linear causality cannot be spotted in the obtained results, nonlinear causality is determined. As a result of the four lagged nonlinear causality analyzes made, the causality is found from the second to the fourth lag for BDTI and from the first to the fourth lag for BCTI. According to these results, while the effect of changes in production is directly reflected in the product tanker market, it is reflected on the dirty tanker market with a delay. It is hoped that these results may be beneficial to developing business strategies and reducing risks for shipowners and charterers in the tanker market.

799-810

Authors: F. Ozlem Alper

It is quite important to determine the factors, as well as their impacts, that cause inflation which is defined as the continuous increase in the general level of prices regarding countries. There is a serious dispute over the determinants of inflation in the literature. Traditional models assert that inflation is a monetary phenomenon and that an independent central bank would provide price stability. Nonetheless, the supporters of the price level’s fiscal theory emphasize that the changes in the general level of prices are caused by the implementation of fiscal policy which is also important for ensuring price stability. In this study, the relationship among budget deficit, money supply, and inflation in Turkey is examined using the Bayer-Hanck Cointegration approach over the period 1971-2016. The analysis results indicate the existence of a long-term relationship between the variables. A 1% increase in both the money supply and the budget deficit would increase inflation by 0.82% and 0.64%, respectively.

825-838

Authors: Nurullah Umarusman

Instead of optimizing a given system, De Novo Programming is a method based on Linear Programming and designs an optimal system in terms of budget constraints. The reorganized resource amounts are utilized at full capacity with De Novo design, which increases the fulfilment levels of goal functions. While classical optimization problems are modelled with precise data, more flexible results are acquired by defining parameters using fuzzy set theory. Flexibility in resource amounts enables especially medium term production planning. As the flexibility in resource amounts reverberates the budget, it is necessary to define the resource amounts to be used at full capacity. With a proposal of a new approach, this study investigates how the optimal production plan of a real business should be carried out based on Fuzzy Multiobjective Linear Programming. The most distinctive feature of the proposed method is that it does not use the concepts of positive and negative ideal solutions; instead, it utilizes the target function values acquired in regards to the upper and lower limits of the budget.

855-870

Authors: Ozge Demiral

Addressing the lack of cross-national and multidimensional research in the relevant literature, this paper examines the relationships between two sources and various predictors of work-family conflict of employees by utilizing a three-year discreet dataset of 23 European countries and Turkey. Stress sources of work-family conflict are proxied by number and inflexibility of working hours whereas their predictors are represented by career advancement opportunity, business internationalization, paid parental leave scheme, governmental family support, and prevalence of employees’ technology use. Additionally, cultural origins of social support are also controlled using both value and regional clusters of national cultures. Results from fixed-effect model estimation reveal that average annual hours worked per employee are negatively related to career advancement opportunity and technology adoption whereas business internationalization and paid parental leave opportunities cause longer working hours. Inflexible working is negatively associated with all variables except for the insignificant impact of technology adoption. The culture was found mattering for work-family conflict but explaining the variations in working hours and inflexible scheduling differently. The study concludes with suggestions for future research and implications based on findings and limitations.

889-900

Authors: Cagla P. Bozoklu

Following the anti-globalization movement, an ideology, which reflects a climate of defiance toward businesses, has spread out to the societies. Thereby, corporates have begun to engage in socially responsible behaviors not only to meet stakeholder expectations, but also to achieve their goal-oriented considerations. This research aims to analyze effects of corporates’ social and environmental responsibility activities on the purchase intentions of stakeholders by integrating the perspectives of obligations. Corporate Reputation Scale was conducted to most important stakeholder groups (customers, employees, rival corporates’ employees and public) by using purposive and random sampling methods. For the reliability measurement, a pre-test was conducted on 112 participants and during the research 680 questionnaires were gathered. Results reveal that the reflections of CSR image can differ according to the market. In the banking market, both making efforts for creating new jobs (economic obligation), taking responsibility on environmental issues (social obligation) and reducing its profits to ensure a clean environment (ethical obligation) are valuable. In the air transportation market social and economic obligations are perceived as significant by stakeholders whereas in the communication market social and ethical obligations are perceived as significant.

911-922

Authors: Cigdem Baskici, Yavuz Ercil

In our study, the networking mechanisms that the Turkish companies use for internationalization is aimed to reveal. For this purpose, a quantitative research has been carried out on small and medium sized companies that have export certificates from Ankara between 01.01.2018-30.03.2018. Findings from 90 companies operating in various sectors reveal that firms mainly benefit from 3 types of networking mechanisms in internationalization. The vast majority of companies (52.2%) use the networks that they strategically formed. This can be interpreted that companies can form network for internationalization actively. The other two widespread networking mechanisms are using social relationships with current acquaintance (23.3%) and business relationships with existing customers/suppliers (13.3%). A little tendency of using networks that could be created with the support of public institutions is determined among the companies. Nevertheless, companies do not use the possible contributions of umbrella organizations in forming networks for internationalization. Although public institutions and umbrella organizations intensively pursue their support for exporting, such a situation can be seen as a result of the fact that companies do not have sufficient knowledge of the support provided. The findings make it possible for companies as the decision makers, and public institutions and professional organizations as policy makers to develop various suggestions.

945-960

Authors: Bulent Ozsacmaci

stract This paper aims to investigate the link between green brand awareness and consumer purchasing intentions in green marketing activities. This is a quantitative based descriptive study in relational model. The gathered data explored the mediating effect of the variables using the partial least squares (PLS) approach for the analysis of structural equation model. A field study was conducted on 387 individuals living in Ankara by using a survey technique. The outcomes of the literature reviews and hypothesis analyzes indicate that consumers’ purchasing behavior is affected by the green awareness of brands and green marketing activities. Also, the results acquired with the PLS method stated that green marketing activities in the retail market products mediates the link between the green brand awareness and the consumer purchasing intention. Besides, consumer’s education level and income situation, partially mediates the relationship between green brand awareness and consumer buying intention. It should be noted that there are many sub-elements which may lead to the change of terms in these relations. Such as, consumer’s brand awareness level and the interest about the benefits and features of the green brand concept are the important indicators. The demographic and psychographic characteristics of the consumers have also contributed to the research in understanding these relationships.

979-993

Authors: Ufuk Selen, Ebru Karas

Welfare Economics in normative economics emphasizes the preference of alternative situations by the society. The social welfare constitutes the main point of welfare economics. In this context, the main purpose of welfare economics, which puts forth what should be, is to provide social welfare at the highest level. It is considered that social welfare will rise to the highest level by providing a society-acceptable balance between efficiency and justice in resource allocation. Although there are many determining factors of social welfare, one of the most important is taxation. Because taxation affects the individual’s socio-economic quality of life through effect of income, substitution, and decision-making, while directly determining the budgetary means of the individual. The purpose of the study in this direction is determined the effect of income tax applied in Turkey on level of social welfare starting from relation between social welfare and taxation. Within the scope of this purpose, evaluations in terms of the effects of Turkish income tax applications on efficiency and justice in resource allocation have been made.

463-479

Authors: Katarzyna Świerczyńska, Agata Kliber

The goal of this paper is to investigate the relationships between the process of technology absorption, official development aid (ODA), foreign direct investment (FDI), and import in Sub-Saharan Africa. We investigate long-run relationships between the process of technology absorption in the region. The investigation is based on such variables as ODA, FDI as well as import from developing and developed economies to estimate co-integration relationships and error-correction models. The results obtained indicate that aid and import from the South are more likely to cause the absorption of technology than other directions of flow.

499-512

Authors: Tuba Hanifi, Aysun Eser Ozen

The aim of this study is to analyse the impact of energy consumption on economic growth in the basis of main sectors, between the years 1972-2015 in Turkey. The dependency between variables was tested by the method of Horizontal Cross Section (CD test), then the causality between energy consumption and Gross Domestic Product was analysed by using the heterogeneous panel test developed by Dumitrescu and Hurlin. Unidirectional causality from growth to energy consumption was found for Turkey. In terms of the main sectors, unidirectional causality from growth to energy consumption in the agricultural sector and bi-directional causality between growth and energy consumption in the services sector was found. In terms of the industrial sector, no causality was found.

531-542

Authors: Selahattin Kaynak, Mirac Eren

Turkish manufacturing industry has been increasingly important with the adoption of free market economy. It has become the driving force of the Turkish economy in terms of employment, production and exports. In terms of capital ownership, in Turkish manufacturing industry; public, private and foreign capital type companies operate in different status. The aim of this study is to predict the sales income trends of the public, private and foreign capital types operating in different positions in terms of capital ownership in the Turkish manufacturing industry through the Grey and Markov model. The grey model for estimating the total sales revenue of the firms, and the new Markov approach based on the quadratic programming model for their trends have been proposed. These models were used to forecast the total sales of firms for the period 2004-2014 and to estimate the trends of 2017-2022 period. In the scope of the research, the sales revenues of Turkey’s largest 500 industrial firms, operating in the manufacturing industry were analyzed. The analyzed dataset covers the period 1993-2014. As a result of the analyzes, it has been found that in the Turkish manufacturing industry, the weight of public capital is gradually decreasing and that the private capital has a high level of penetration.

559-578

Authors: Duygu Arslanturk Collu

The study seeks to determine the main factors influencing stock selection decisions of individual investors in Borsa İstanbul (BİST). To achieve this objective, an integrated Decision Making Trial and Evaluation Laboratory (DEMATEL) and Analytic Network Process (ANP) method was used and a five-point Likert scale survey questionnaire was designed. The questionnaire included twenty one factors that belong to five categories, namely, accounting information; recommendations; personal financial needs, firm specific attributes and other factors. The results show that there are six most important factors affecting the stock selection decisions of individual investors at the BIST which are brokerage house recommendations, willingness of taking risk for high returns, get rich quick, opinions of the firm’s majority stockholders, suggestions from friends and family and diversification needs. On the other hand, three factors were found to be the least influencing factors on individual investors’ stock selection decisions. The least influencing factors in order of importance were sensitivity of firm performance to overall market performance, fluctuations/developments in the indices of the major markets, affordable share price.

589-603

Authors: Ali Ihsan Akgun

Financial statement manipulation has been well-rounded analyzed in both finance and accounting literature as it is important to determine whether firms could affect both performance and accounting standards. The purpose of this study is to examine cases of financial reporting manipulations which were subject to published enforcement actions by the Securities Exchange Commission (SEC), Securities Class Action Clearinghouse (SCAC), Accounting and Auditing Enforcement Releases (AAERs) and General Accounting Office (GAO) between 1996 and 2014 for reasons of alleged financial misstatements in the USA. Therefore, this study will provide to examine the relationship between bank performance and financial statement manipulations in the accounting standards. More importantly, although financial misconduct such as financial reporting manipulation is an emerging topic of great importance, a comprehensive literature review of the subject has yet to be carried out in terms of accounting standards. In this context, this study focuses on financial reporting manipulation within the context of International Financial Reporting Standards (IFRS). This study is contributed to the literature by examining the impact of financial reporting manipulation within the same or different systems of accounting standards on bank financial reporting. Findings suggest that banks that manipulate financial statements increase their operating profitability and productivity as a measure of financial performance used in the IFRS.

619-630

Authors: Ugur Yigit

Chairman and the members of the board of directors can be made payments in different names by the joint-stock companies. A member of the board of directors of a company may be a shareholder of this company at the same time. Because of being a shareholder of the company, the member of the board of directors can be paid dividend. It is possible that a member of the board of directors of a company who is at the same time a shareholder of the company, may also be employed as general manager or assistant general manager based on a contract of employment and in return of this employment, wage can be payed. In this case, payment can be made to the relevant person based on the three titles (member of the board of directors/shareholder of the company/employee of the company). Both the payments made to a natural person chairman of the board of directors and a member, being a shareholder and an employee of the company at the same time and taxation of these payments constitute the subject of this study.

651-663

Authors: Gokhan Kerse, Daimi Kocak, Sefik Ozdemir

This studyexamines the effect of job insecurity on the level of emotional exhaustion and the role of affective commitment level on this influence. The survey (was conducted on 136 employees of a company operating in the manufacturing sector. Data were collected by questionnaire technique. In the process of analyzing the data was used SPSS and AMOS packaging programs.Structural equation modeling analysis was used to test the hypotheses developed in the research. The findings of the analysis showed that job insecurity effects affective commitment in the negative direction and emotional exhaustion in the positive direction. In addition, it has been determined that affective commitment plays a partial mediating role on the effect of job insecurity on emotional exhaustion. In other words; job insecurity affectsemotional exhaustion both directly and through affective commitment. The findings in the research are thought to contribute to both the literature and the business managers.

681-696

Authors: Ercan Ergun, Koray Yalcinkaya

The aim of this study is to investigate the effect of the behavior of leaders on the change potential of employees in organizational changes taking place at firms. The research data was collected from 140 employees in 17 manufacturing companies operating around Kocaeli Industrial Region performing organizational change. From these employees, the data collected by the questionnaire were analyzed in the research framework. The relationship between the dimensions of leadership behavior and the dimensions of change capacity of employees relations have been examined. The findings show that there is a significant relationship between change-oriented leadership behavior features open to change and emotional readiness of employees. Relationship-oriented leadership behavior is the highly important factor to increase of cognitive readiness and intentional readiness for change of employees.

715-733

Authors: Ozlem Ayvaz Kizilgol, Evren Ipek

The present study empirically evaluates the socio-economic factors that affect the domestic violence against women in Turkey. The types of violence against women was examined with the Multinomial Logit Model (MNLM) by the use of data received from the Survey on Domestic Violence against Women in Turkey, which was performed by Turkish Statistical Institute for the year 2014. Empirical results show that physical and sexual violence raises as the women’s age increase; and if the educational status of the women and their husbands was at and above university level, women faced less domestic violence. The results indicate that employment of women and husband did not have any significant effects on physical violence and economic and emotional violence. It is observed that if women had their own income or earning, they received less economic and emotional violence; and health insurance for women reduced the possibility of all types of violence. The results reveal that women living in urban areas were exposed to any type of violence more than those living in rural areas; and the bad habits of spouse (alcohol, gambling and drugs) increased every type of violence against women.

271-289

Authors: Gulin Vardar, Guluzar Kurt-Gumus, Mehmet Erdem Delice

We analyze the dynamic relationship between daily Brent oil prices and selected sector index returns of Borsa İstanbul. To perform an elaborate analysis, because oil price fluctuations affect sectors differently, the sectoral index returns are classified as oil-user, oil-related, oil-substitute, and financial. Employing Johansen and Juselius (1990) cointegrating technique, the long-run relationship is examined between the oil price changes and sectoral stock returns. After the investigation of the causal relationship between these two variables, Impulse Response Functions and Variance Decomposition Analysis are used to evaluate how shocks to variables rebound through a system. Given that significant changes have occurred across capital markets throughout the period, it would appear to be worthwhile to investigate whether changes in interactions among oil prices and sectoral stock returns have occurred as a result. The findings indicate that; there is cointegration between returns of half of the sectoral indices analyzed and oil prices Granger causes sectoral index returns.

301-316

Authors: Serkan Sahin

The aim of this paper is to investigate, within a Bootstrap panel causality approach, the interactions among foreign direct investment (FDI), international trade and financial development in BRICS-T countries (Brazil, Russia, India, China South Africa and Turkey). While the effect of foreign direct investment on economic growth is well documented, the consequences of FDI on financial development have not received as much attention. Previous studies have recognized that FDI is a crucial source of financing especially for emerging economies, though the benefit of FDI to recipient country is ambiguous. Furthermore, the number of previous studies examining the causal linkage between international trade and financial development is also limited. Besides, examining the associations among these factors, this study also investigates the joint effect of FDI and international trade on financial development in these countries. Empirical findings from a bootstrap panel causality approach indicate that FDI induce financial development in Brazil, Russia, and China. In addition, international trade promotes financial market development in Brazil, Russia and South Africa. Empirical findings also indicate that financial development stimulates international trade in Brazil, India and Turkey. Finally, it is found in this study that not only international trade stimulates FDI, but also FDI induce international trade in India and Turkey.

331-348

Authors: Selim Yuksel Pazarceviren, H. Pinar Kaya

The main purposes of this study are to examine the studies measuring and reporting intellectual capital, to revise these studies with accounting perspective and to determine the intellectual capital values of firms operating in Textile and Leather Products Industry in Borsa Istanbul for the years 2014-2016 via “Calculated Intangible Value Method”. The findings reveal that intellectual capital indicating firms’ fair value is to be reported. However, it is difficult to recognize intellectual capital as an intangible asset and to report it in financial tables since there is not a direct definition towards intellectual capital in International Financial Reporting Standards and Turkish Accounting Standards/Turkish Financial Reporting Standards. This study reveals that the best reporting approach is to present the information related with intellectual capital in the annual reports of firms within the frame of current regulations.

363-380

Authors: Simge Samanci, H. Nejat Basim

The main goal of the universities is to train individuals who have sufficient knowledge and skills and who will receive high demand in business life with their strong academic staff. For this reason, it is very important that graduates with the necessary equipment and knowledge from the universities of the students who are the only hope for the future of the countries. This study explores the mediating role of psychological capital between organizational citizenship behavior and perceived organizational justice with the help of the structural equation model. In this respect, 6,643 questionnaires were sent to the academic staffs from 190 selected universities in the Republic of Turkey with random sampling method and the data were collected from 611 respondents. After analysis of data it has been found that organizational justice partially affects organizational citizenship behaviors and similarly it is found that psychological capital has partial influence on organizational citizenship behaviors. On the other hand, the result is that the psychological capital has a partial mediating effect on the model. It has been found that studies on the possibility that the psychological capital can be an intermediary variable are very limited. In this context, it is thought that this study can contribute to the literature.

395-411

Authors: Oktay Yanik

In this study, the reasons underlying aggressive or nonaggressive attitudes of employees exposed to mobbing were investigated. For this purpose, employees were identified who aggressively responded to mobbing or did not show an aggressive response to five different mobbing behaviors in the form of ‘effecting the victim’s possibilities to maintain personal reputation, physical health, possibilities to maintain social contacts, possibilities to communicate adequately, and occupational situation’, in the sample of 169 employees in the health sector. It was then investigated via discriminant analysis how personal and working life characteristics could be exploited in the differentiation of groups of aggressive and unaggressive employees. Results have been obtained that the employees who react aggressively to mobbing and who are unaggressive are divided into different groups according to their marital status, tenure, education status, and management status. Finally, in line with the results of the research, some suggestions have been made to investigate the subject of the search with different variables.

431-447

Authors: Huseyin Fidan

Developments of information technologies that bring significant advantages to social life and business process bring with it physical and mental problems. Addiction, which is considered as a disease nowadays, is a mental disorder and can be seen in people as a result of overuse of technological devices. Especially mobile phones that people can carry with them at any time increase the risk of addiction. Mobile addiction, which negatively impacts the physical health, work concentration, and productivity of employees in companies, causes the job loss. Determining mobile addiction degree of employees which is neglected in the literature is an important issue for firms. In this study, mobile addiction levels of workers in Burdur, Isparta and Antalya provinces in TR61 region were analyzed by principal components and regression methods. Data were collected by the survey method by using Mobile Addiction Scale. The study found that the mobile addiction ratio among employees is 6% and the mobile addiction tendency is 31.75%. The study shows that mobile addiction is higher in women and in public sector and mobile addiction is not related to gender, age and income level differences.

15-24

Authors: Seda Sengul, Haydar Sengul, Kenan Lopcu

The purpose of this research is to examine the determinants of household participation in entertainment and cultural activities in Turkey. Data used are obtained from Household Consumption Expenditure Survey of 2009, produced by Turkish Statistical Institute (TurkStat). Box-Cox double-hurdle model adjusted heteroscedasticity was used to estimate the effects of socio-demographic and economic variables on household entertainment and culture expenditure in Turkey. According to the results, socio-economic and demographic variables are found to affect the purchasing decision and the amount demanded by households in entertainment and culture activities in Turkey. However, it has been determined that income (total household expenditure) is the most important determinant of household entertainment and cultural expenditure in Turkey. In this case, it may be advisable to prioritize policy to increase income in order to increase the expenditure of household entertainment and culture in Turkey.

49-56

Authors: Ali Eren Alper

In this study, the impact of political stability on economic growth in developing countries is examined using the annual data set of the period 1996-2016. In the study with panel data analysis method, political stability in developing countries is detected to assume a positive role in economic growth. Results Show that, %1 increase in political stability triggers economic growth by 1.27%. Furthermore, the economic growth of the model is found to be negatively related to the unemployment rate, inflation rate, and government expenditures; while positively related with trade openness according to the estimation findings.

75-86

Authors: Sinem Eyuboglu, Kemal Eyuboglu

In recent years, it has been determined that investors are influenced by psychological factors while making investment decisions. Confidence indices are used to learn investors’ expectations about the economy. In this paper, it is investigated whether there is short and long-run relationship between Borsa Istanbul sector indices and real sector confidence index. The short and long-run relationships between the stock indices and the real sector confidence index, which are determined to be stationary at different levels, are tested by ARDL Bound Test. The findings show that there is a relationship between the real sector confidence index and all sector indices both in the long-run and in the short-run. In addition, it is determined that the increase in real sector confidence index affects positively stock returns (except XULAS and XTAST) in the short-run. The results of causality showed that mostly there is a causality relationship from sector indices to real sector confidence index. Thus, it has been shown that psychological factors should be considered as determinants of changes in the stock market.

109-121

Authors: Hakki Ozturk

This study examines the cointegration between BIST 30 index and MSCI emerging market index from January 2003 to July 2017 by employing Johansen cointegration test. The MSCI emerging markets index is created by Morgan Stanley Capital International and consists of indices from 24 emerging countries. Since the MSCI index is considered as a benchmark in emerging markets, the relationship between Borsa Istanbul and this index is very important for portfolio managers. In addition, to analyze the long-term impact of the recent global financial crisis between Borsa Istanbul and emerging markets, the sample period is divided into two sub-periods : pre and post crisis. For the whole period, there does exist a significant long term relation between Borsa Istanbul and MSCI emerging market index while there is no evidence of cointegration in the pre-crisis period. However, the results for the post crisis period indicate that Borsa Istanbul and MSCI index are cointegrated that means they move together in the long run. This may suggest that there are limited benefits for portfolio diversification between these markets due to increased globalization of financial markets in recent years.

137-150

Authors: Hülya Gündüz Çekmecelioğlu, Ayşe Günsel, Özgün Öztürk İlhan

Today’s market conditions encourage organizations to gain new resources and skills in order to deliver new products and services that meet rapidly changing customer needs while at the same time compel them to use their resources and skills effectively. The organizations that successfully fulfill these two requirements are defined as “ambidextrous”. In this study, the relationship between transformational leadership – a leadership mechanism that actually supports organizational employees to use both existing resources and capabilities in a better way and pursuing innovations – and ambidexterity is empirically examined. In addition to the effect of ambidexterity on firm innovativeness and the mediating role of ambidexterity on the relationship between transformational leadeship and firm innovativeness is also examined in this study. In order to test the proposed hypotheses, the data of 304 questionnaires from 61 firms operating in the Eastern Marmara Region are analyzed using the Particial Least Squares (SmartPLS 3.0) approach based on the structural equation modeling. According to this, individualized consideration has a positive effect on explorative capability while the idealized influence has a positive effect on exploitative capability, finally intellectual stimulation has a positive effect on both explorative and exploitative capability. On the other hand, ambidexterity on the base of explorative and exploitative capabilities also has a positive effect on firm innovativeness. Finally the findings show that explorative capability full mediaties the relationship between individualized consideration and firm innovativeness while organizational ambidexterity fully mediates the relationship between intellectual stimulation and firm innovativeness. The findings are discussed and interpreted at discussion part of the study.

169-185

Authors: Nihan Birincioglu, Erol Tekin

Abstract The aim of this study is to develop a mushroom management scale and to test its validity and reliability. The scale was applied to 216 research assistant for Exploratory Factor Analysis, and 240 different research assistant for Confirmatory Factor Analysis. As a result of the analysis, the Kaiser-Meyer-Olkin value is found 0,874 and the Scope Validity Index is found 0,95. The total variance ratio explained by the scale is 67,238%. In addition, according to the result of Explanatory Factor Analysis the scale consists of 4 factors and 19 items. These factors are described as “inadequate information sharing”, ” anxiety of power loss”, “inadequate communication” and “lack of participatory management”. Cronbach’s Alpha Internal Consistency Coefficient is calculated 0,90 and lastly, its test-retest correlation coefficient is calculated 0,82. At the same time it can be said that according to the Confirmatory Factor Analysis the scale has satisfactory coherence criteria. As a result, a valid and reliable Mushreoom Management Scale consisting of four sub-factors is developed.

195-212

Authors: Melek Eker, Semih Eker

The developments of information and communication technology affect the way of data collecting and storing for firms. This has also lead to improving information processing process and management control processes. The purpose of this study is to show whether the interaction between the enterprise resource planning system and the management control system leads to an improvement in firm performance. The model of Kallunki, Laitinen, and Silvola (2011) is used to understand and analyze the relationship in Turkey. To test the relationship empirically, data is gathered from 125 manufacturing firms of the top 500 in Turkey in 2015. The results support the hypothesis that high interaction between enterprise resource planning system and management control system is associated with high financial and non-financial performance.

235-251

Authors: Aysegul Ipek, Fehmi Ali Ildir

Today, companies operating in the country’s economies, which have become the only market, especially with the influence of globalization, face serious exchange rate risk. This risk can has negative effects on the results of operations of the enterprises. Many different day-to-day exchange rate risk management techniques are emerging in order to reduce or minimize these effects. However, the implementation of these methods brings with it a number of difficulties. Within the scope of International Accounting and Financial Reporting Standards (IAS / IFRS), which is mandatory for many companies as of 2005, it is aimed to give theoretical information about the forward contracts used in the foreign exchange risk management activities and the accounting process and to examine the implementation period. In this context, the theoretical information about the emergence, management and management instruments of the foreign exchange risk was given as the priority and the different alternatives of the risk management activities in the scope of IAS / IFRS have been presented afterwards. Finally, the risk management process belonging to a company operating in Turkey and the applications of the financial transactions included in this process within the scope of financial risk protection accounting.