International Journal of Commerce and Finance

1-9

Authors: Etty Susilowati; Andre Aghata Rezaldy Moeladi

The increasing population in Indonesia leads to increasing demand for motorcycles as one of transportation means. Ease of operation and affordable prices cause motorcycles as a very popular transportation means in Indonesia, especially in big cities. This is because of the traffic density and the people's desire to arrive at their destination quickly. One of the Japanese brands, Honda Beat is the highest selling motorcycle brand in Indonesia based on the data from The Indonesian Motorcycle Industry Association. In this study, we investigate the relationship of marketing mix with consumer purchasing behavior of this specific brand. A judgmental sampling was applied to 100 consumers in Greater Jakarta. Multiple linear regression was employed to analyze the data. The results indicated that promotions have the highest influence on consumer purchasing behaviors of the brand (coeff. = 0.503), then followed by products (coeff. = 0.320), and price perceptions (coeff. = 0.224). This study contributes to the marketing literature by adding a new empirical evidence on how marketing mix can generate perception and preference of brand personality, especially in motorcycle brands. The findings of this study will assist managers of motorcycle brand to maximize specific factors from marketing mix analysis to increase consumer purchasing behavior. Finally, in terms of the method employed in marketing studies, this study contributes to the literature by adding a new combination of a quantitative study of multiple linear regression and personal opinion of consumers.

27-39

Authors: Erik Nugraha, Audita Setiawan

This research is based on one of the biggest risk faced by sharia banking that is related to problematic financing that happened due to failure in funding process at Bank Syariah. Sharia Banks must have the ability to manage risks on the distribution of financing so as to prevent the creation of non-performing financing (NPF). This study aims to examine the effect of return on Financing Profit and Loss Sharing (PLS), Bank Size and Inflation to Non-Performing Financing (NPF). The method used in this research is an analytical descriptive method to explain each research variable and verification with the quantitative approach to show whether there is the influence of the free variable on a dependent variable. The data to be analyzed in this study using panel data and will be analyzed by using multiple linear regression. The result of the research shows that the return of financing Profit and Loss Sharing has significant effect to Non-Performing Financing with negative influence direction, bank size influence to Non-Performing Financing with negative influence direction and inflation has no significant effect to Non-Performing Financing with positive direction. This study also shows the result that the return of financing Profit and Loss Sharing, bank size and inflation simultaneously (simultaneously) have an influence on Non-Performing Financing.

52-65

Authors: Hamed Alavi

Documentary letters of credit (DLCs) are method of payment developed to facilitate the process of international trade by replacing the payment risk of importer with irrevocable payment guarantee of a bank to exporter. Instead, the exporter is supposed to present fully compliant set of documents required by the credit. Documentary nature of DLCs make them vulnerable to the risk of discrepancy. This risk is will affect exporter’s business as he is the one who should absorb it. Therefore, it will be recommended to exporters to negotiate the minimum number of required documents while closing the underlying contract of sales with importer. Since different delivery terms (INCOTERMS) require presentation of different documents, this paper studies the correlation between using different terms of delivery with existence of discrepancy in export DLCs in Estonia. For this purpose, author takes empirical approach to answer following research questions: what is the relation between documentary discrepancy and choice of delivery terms and third party documents? and what is the correlation between above mentioned factors and documentary discrepancy in process of DLC operation in Estonian export landscape? The paper is divided into four parts: after the introductory section, the literature review will briefly analyses process of international DLC operation and latest version of INCOTERMS plus their role as delivery terms in international trade. Next section will discuss methodology and results of empirical study done on choice of delivery terms and third party produced documents on discrepancy rate in DLC operation in Estonian export trade. Last but not the least, final section will provide conclusions of the study.

76-83

Authors: Merve Tarım

Leader-member relations are important for an organization’s future, because in a dynamic changing world, an organization’s survival depends on the strength of its culture and the ties between both leader and the members this kin. In order to build this kind of power, it is necessary to spend much labor from both sides. In this research, two different private university and three different groups were compared to each other. The main aim was to find out the relationship between LMX and Emotional Labor. It was showed that labor is the keyword to carry the commitment and performance further by creating a real relationship between both sides.

96-106

Authors: Mehmet Enes Aşçı

Today, global energy politics, mainly determined by oil and natural gas. These policies shape the basis of the regions have the largest share the reserves in Middle East, Central Asia and Caspian Regions.There is a significant global competition in the search for oil and natural gas exploration, production, and delivery to international markets. The fact that Turkey is going to become a country with increasing requests in energy market / sector is important for Turkey to become a strategic country for petrol and natural gas producers. Therefore, supply and demand variety in natural gas and petroleum import, supply security, and the sustainability/continuity of this situaton, energy transportation projects are essential for Turkey.

121-133

Authors: Vahdet Hüseyin Günay, Ahu Tuğba Karabulut

The purpose of this paper is to find out the effect of the corporate entrepreneurship on the company performance in the service sector. The convenience sampling was used in this study which was conducted to 280 white collar employees who worked in a service sector. The questionnaire was sent to 300 employees. 280 questionnaires were collected back and analyzed. The frequency distribution analyses, factor analyses, reliability analyses, correlation analysis, and multiple regression analysis were conducted to the collected data. The entrepreneurial orientation scale was used from Eren (2006) whereas the company performance scale was used from Zehir (2016). The findings of this research supported the theory. It is found out that the corporate entrepreneurship has a positive effect on the company performance. It is expected that this research will make contributions to studies which will be conducted in the future about the effect of the corporate entrepreneurship on the company performance.

1-10

Authors: Lucky Nugroho, Wiwik Utami, Caturida Meiwanto Doktorlina, Soeharjoto Soekapdjo, Tengku Chandra Husnadi

In the case of Indonesia regarding capital sources in Islamic Banks, all Islamic Banks are subsidiaries of Conventional Banks (except Bank Muamalat). Bank Syariah Mandiri which is the only Islamic Bank that meets capital ownership with Business Category Bank Level III (BUKU III) is also a subsidiary of Bank Mandiri (conventional bank). In the same way, conventional banks become essential to meet the capital requirement to improve the business of Islamic Bank. This article aims to determine the role of capital and operating profit for business expansion (financing) in Bank Syariah Mandiri. The method used is the quantitative method by using statistical tool STATA version 13. The result of regression test is known that capital and profit have a significant influence in increasing financing expansion in Islamic Bank. Also, the price of the number of bad debts causes the lack of public confidence in the Islamic bank. The alternative to increasing the capital and public trust is government policies to support Islamic bank become independent.

25-36

Authors: Serhat Yüksel, Zafer Adalı

Higher unemployment rate is the problem of most of the countries in the world. Because of this situation, these countries try to make many actions in order to decrease unemployment rate. However, to make such a recommendation, first of all, the reasons of the unemployment should be analyzed. Within this framework, the aim of this study is to identify the factors which influence unemployment in Turkey. For this purpose, quarterly data for the periods between 2003 and 2016 is evaluated with MARS method. It is concluded that economic growth negatively affects unemployment in Turkey. Another result of this study is that higher inflation rates negatively affect unemployment rate. The last conclusion of this analysis is that interest rate has a positive influence on the unemployment rate. While considering these results, it is recommended that economic performance of the country should be improved and interest rates should be declined to decrease unemployment rate in Turkey. Another recommendation is that implementations, which are aimed to decrease inflation rate, should be controlled carefully because any implementation which aims to decrease inflation rate causes unemployment rate to increase.

48-52

Authors: Ahu Tuğba Karabulut

The purpose of this paper is to explain the importance of reverse innovation for the growth of global companies. According to literature review, reverse innovation affects the growth of global companies both in developing and developed countries. Thus, it is suggested that global companies should open R&D centers in developing countries to conduct researches to tailor new products for their needs. When these products succeed, they can offer them to other developing and developed countries to continue to grow in the long run. They can fill out market niches which represent unmet demands of price sensitive and not wealthy customers in developing countries. It can be concluded that reverse innovation can accelerate the growth of global companies.

77-88

Authors: Çağrı Pehlivanoglu, Hüner Şencan

The purpose of this study is to reveal the relationship between the organizational structure perceptions and the managerial competence perceptions of individuals working as managers in national and multinational companies in Turkey and to investigate whether these perceptions are affected by “the multi-nationality” factor. In this context, the relationship between the estimation variable "Organizational Structure" and the outcome variable "Managerial Competence" is researched; additionally, the effects of both the estimation variable and the organizational and individual demographic variables on the outcome variable are analyzed. The main research question is whether the managers’ perception of organizational structure affects the perception of managerial competence. The main research hypothesis is that the perception of organizational structure has a positive effect on the perception of managerial competence. The measurement tools developed by the researcher were applied to entry-, middle- and senior-level managers. The research data were obtained from 330 managers working in national companies and 270 managers working in multinational companies operating in Turkey. The results of this research indicated that there was a statistically significant relationship between the estimation variable and the outcome variable and that the perception of organizational structure affects the perception of managerial competence (R2 = 0.530, p <0.05). It was observed that the organizational structure factor explained 53% of the managerial competence factor. In addition, when organizational demographic variables such as “the number of personnel working in the department” and “the model of organization” and individual demographic variables such as “management level” and “total work experience” are considered as factors in the analyses, it was observed that the R2 parameter showing a relationship between the estimation variable and the outcome variable has increased to 62%. Other individual and demographic variables did not contribute to the model, and as a result, their effects are concluded to be either equal or constant. The moderator effect of the "multi-nationality" factor was seen to be not statistically significant, and the moderator effect was not found (R2 = 0.001, p = 0.253> 0.05).

1-11

Authors: Murat Bolelli, Beril Durmuş

The purpose of this study is to examine the effect of different work attitudes of Generation Y on Job Involvement in Turkey. Data is collected from Generation Y employees who work in various companies operating in different markets in Turkey through a questionnaire survey, which contains work attitude statements developed by Kamau et al. (2014) and the Job Involvement scale developed by Kanungo (1982). 258 respondents completed the survey. After sorting and removing duplicate submissions a net sample of 228 usable questionnaires remained. Exploratory Factor Analysis is conducted to job involvement scale which returned five items. Also multiple regression analyses are conducted using all 39 work attitude items, lead to finding out 7 which are explaining job involvement. The findings indicate that, work takes a central place in the lives of Generation Y. They like to work and ambitious in their career pursuit. Such factors as, high commitment level to job related goals, strong motivational investment level to their careers, tendency to identify themselves with work are blurring the boundaries of work-personal life balance of Generation Y. Respecting educational differences highly, Generation Y discriminates work relationships according to the qualifications and the level of education with their colleagues. Generation Y also has respect to their bosses and cares less about salaries as compared to work itself. The implications of the results are discussed and future research areas are suggested.

27-40

Authors: Özlem Yenidoğan, Hüner Şencan

The research was done with the purpose of identifying the relationship between two conceptual structures which were organizational learning and organizational commitment. Main hypothesis was identified as “There is a positive correlation between employees’ organizational learning inclination and organizational commitment.” In order to identify the relation between two conceptual structures, Likert type scale was used by using the literature. Stated likert type scales were applied for 279 people including managers’ and employees’ and statistical analysis on gathered datas from 260 questionnaires was done. In the research, both the correlation between organizational learning and sub-dimensions of organizational commitment which classified as emotional, normative, continuance commitment and the correlation between employees’ age, level of education, position and working period variables and organizational commitment were examined. Regression analysis was used in order to identify the correlation between organizational learning and organizational commitment which was the main hypothesis. Other hypotheses were tested by one way analysis of variance. It was found that that there was a positive correlation between organizational learning and organizational commitment. Result of the analysis indicates that in order to increase organizational learning inclination of managers and employees for developing their organizational commitment, applications for organizational learning should be given importance in companies.

41-50

Authors: Mehmet Saim Aşçı

When the gift called talent meets success, it becomes so intense that no force in the world can stop it. If one works with a team with the right talents, the decision-making and implementation processes will be much faster. Companies focus on capital, information technologies, equipment and top quality processes and act accordingly, but the most important factor of all is “human”. What makes good companies truly big is their ability to attract and keep the right talents. It is difficult to find young talents, and it is even more difficult to retain them. To maintain a competitive advantage in today’s world, retaining the best talents in the organization with commitment is just as important as finding them. Today, the best and the brightest must be included in the team to maintain a competitive advantage. Companies that lose their key employees may miss very important business opportunities. The realization that the most important source that feeds the sustai-nable competitive advantage is talent has led the management to focus all its attention on talents. The increase in the importance attached to talent has helped employees have improved self-confidence and allowed them to turn their creativity into a competitive advantage. From this perspective, talents have allowed for the introduction of new approaches for employees in the management process. This study attempts to explain concepts of functionality, vitality, developing commitment, creating engagement, accountability, which are the key success factors of talent management processes, as well as obstacles to and disadvantages of talent management.

1-12

Authors: Ertuğrul Köse, Hüner Şencan

The performance of the manager, is partly related with decision-making competence. Making decisions properly at the right time and in the best period has the potential to increase the overall success of the manager. Decision-making which means comprehending, thinking, evalua-ting the alternatives and choosing one of the alternatives is a factor that affects manager’s performance directly and provides a competitive advantage for organisations. In this research, the relationships between decision-making competence and managerial performance were discus-sed. The main thesis of this research is that the managers who have high decision-making competence will have high managerial performance. The research was carried out with a population of 424 managers, subordinates, executives and customers/farmers. The evaluation of mana-gerial performance was conducted by taking the factors of subordinates, executives and customers into consideration. The research scales compiled from the literature review and measurement tools developed by the researcher were used in the research. The test of hypothesis was examined by the method of linear regression analysis. The results of this research provided that there was a statistically significant relationship between the decision-making competence of the managers and managerial performance. However, this preliminary study needs to be tested in other businesses and sectors because the data of this study were gathered from a single institution of business.

27-35

Authors: Hülya Aslan, Nilay Gemlik, Gülfer Bektaş

This research has been carried out in order to determine anger expression and anger management styles in operating room nurses. By applying an in-depth interview technique on operating room nurses working in a private hospital, a qualitative study has been performed in order to determine anger expression and anger management styles in operating room nurses. The interview consisted of ten questions such as demographic questions addressing the workers’ age, sex, education level and duration of employment in the organization they work, aiming to determine their anger expression and anger management styles. Since operating room environments contain various risk factors, and require active team work in a stressful dynamic setting under excessive workload, , it has been found that operating room nurses display their anger through loud speaking, fail to settle their anger positively, fail to control their anger in a behavioural pattern despite their cognitive awareness in anger management. Thus, it has been suggested that operating room nurses should be trained on anger management methods so that they can manage their anger in a stressful operating room environment.

61-70

Authors: Mehmet Saim Aşçı

Collective agreement system, which closely involves the content of social fabric and separation of powers in industrial society -some of the main problems constituting economic, political and judicial fabric of the society- and as the product of a historical development process, is applied in many countries as a dynamic process that is able to rapidly adapt to both changing economic and social conditions and changes in technological structure and plays the most effective role in determining employment conditions. A collective labor agreement is primarily formed for the purpose of improving working conditions of workers and to recover their material circumstances through other side benefits provided in goods and money in addition to salary increases. Naturally, aspiration of employees to benefit from collective labor agreement applied in the workp-lace they serve is for their self-interest. However, to be able to benefit from collective labor agreement, while only aspiring is not sufficient to utilize it; fulfilling a set of conditions is also necessary.

85-95

Authors: Serhat Yüksel, Mustafa Özsarı, İsmail Canöz

In this paper, we aimed to analyze the factors that affect currency risk of the banks. Within this scope, annual data of 23 deposit banks for the periods between 2005 and 2015 was evaluated. In addition to this situation, panel probit model was used in order to achieve this objective. Regarding the subject of the currency risk, this model was firstly used in this study. According to the results of the analysis, it was determined that 3 independent variables affect the currency risk of deposit banks in Turkey. Firstly, it was identified that there is a positive relationship between total assets and currency risk. This situation explains that when the size of the banks increases, they tend to take more currency risk. In addition to this variable, it was also defined that there is a direct relationship between economic growth and currency risk of the banks. This result refers that in case of an increment in the market stability; banks think that the market is safer and they increase their currency risk. Moreover, it was also concluded that there is a negative relationship between interest rate and currency risk of the banks. This aspect shows that when interest rate decreases, it will lower uncertainty in the market. Thus, banks would take higher currency risk in such markets

1-13

Authors: Ahmet Keleş, Ömer Özkan

The article is to show the twinning mechanism as a convergence tool in a states accession process. Since it’s beginning in 1998 more than 1300 projects have been carried out in the scope of candidate states’ convergence process. Due to these projects the states’ administrative and judicial systems have been restructured. Thus, the capacity of Union legislation’s applicability enhanced and the programs have been used to strengthen the institutional structures in all the sectors in the scope of instrument for Pre-Accession Assistance. Starting from the December 17, 2001 various funds were launched for use in Turkey in order to ensure compliance with the EU acquis communautaire within the accession process of the state and to facilitate the fulfillment of the obligations which are specified in the Accession Partnership Document and National Programme of Turkey. The EU funds and their use within the scope of the approach and the contributions provided to institutions implementing the projects to the Legislative System of Turkey are to be discussed in the research.

25-35

Authors: Özlem Aras

Companies need to produce their product and services with lower cost in order to survive in the competitive global market. That is why; firstly they need to define the visible and invisible cost of poor quality factors and then need to eliminate these Poor Quality Costs by utilizing the various improvement methodologies. In order to define the poor quality, firstly the project team members need to be assigned between the cross functional departments. Then, the current status needs to be defined step by step by utilizing the various methodologies such as Pareto Analyze etc. As a second step, Root Cause Analyze is performed, and lastly the actions and action plan are defined. All these steps are systematized with some methodologies such as PDAC, Practical Problem Solving (PPS), Six sigma DMAIC & 8D. In this study, it is aimed to decrease the Warranty Cost which is a factor of the Cost of Poor Quality in a factory in the Energy Sector. At the same time, it is aimed to decrease the customer complaints as well as to increase the customer satisfaction. The factors that cause the Warranty Cost have been defined in the Current Status Analyze. Pareto Analyze, Brainstorming, Fish Bone Analyze, Process Mapping, 5 Why Analyze etc. methodologies have been utilized in this study.

55-65

Authors: Abdallah Kamal Eldine

The majority of workers have many occasional difficulties that sometimes become a problem affecting the worker’s performance. When this will repeatedly fail to meet expectations, a serious problem may become the main reason which contributes to the job decline. Therefore, a pattern of reduced performance indicates the need for a supervisory action from managers. Poor performance could be reflected under three main categories, such as employee availability, employee productivity, and employee conduct. The reasons and causes of this poor performance could be a personal issue related to the employee. Many types of personal problems are affecting the job performance in organizations, such as marital strife, financial difficulties and child care complication. More serious difficulties and the abuse of these problems-if not resolved-may cause unending issues at work. This problem is highly important especially that it can affect the job performance and the company income. Moreover, it can simply result in the failure of the employee to meet the performance standards, which kills productivity. The purpose of this qualitative exploratory phenomenological study is to clarify the management role in dealing with employees personal issues in the Lebanese organizations as perceived by the lived experience of managers. The research instrument which will be used is a face-to-face structured interview with six managers of the major functions in different Lebanese organizations. The sample type will be by convenience.

81-90

Authors: Adnan Veysel Ertemel, Ahmad Ammoura

P Consumer buying behavior is known also as consumer decision making is the process by which individuals search for, select, purchase, use, and dispose of goods and services to satisfy require needs. This study has been designed to answer main question about the role of social media advertising on consumer buying behavior in very active field which is fashion retail industry, then determine the differences if existed in this relation regarding to the name of the brands and consumer demographics factors. By electronic questionnaires conducted for consumers live in Istanbul-Turkey, findings showed weak relation between social media advertising and consumer need recognition, no relation at all with search for information, strong relation with evaluate the alternatives, and moderate relation for both buying decision and post-purchase behavior, as those steps represent the five steps need recognition model in consumer buying behavior. Moreover, findings showed no changes in this relation regarding to consumer’s age, and education level. However, there were changes between Females and males in the relation with consumer need recognition, and search for information. In addition, another changes regarding to income between social media advertising and evaluate the alternatives especially for consumers earn more than 5.000TL among other income groups.

103-111

Authors: Figen Yıldırım, Özgür Çengel, Cihad Demirli, Ali Altuğ Biçer, Mehmet Sağlam

It is seen that education institutes use many techniques to increase the quality of the services being provided. However, as competition in the education sector has been rising dramatically, it is hard to differentiate the services offered. In this perspective, it is becoming hard to attract and keep loyal learners in education institutes. So, lifelong learning and continuing professional development are the two tools that enhance the level of loyalty to the education institutes. In this study, an attempt has been made to understand the factors that define learner’s loyalty in the Vocational Education Institutes. In addition, the relation of trust to the Institute, satisfaction, and learner’s loyalty variables to the service quality will be researched. In this sense, 184 questionnaires have been conducted to students who have attended the Public Oversight Board Education Program offered by Istanbul Commerce University’s Lifelong Learning Center. Data has been analyzed by Structural Equation Modelling. According to the results of the study, education institutes who deal solely with the issue of trust, satisfaction, and learner’s loyalty can have the potential to keep their learners on hand on a life-long basis thereby earning their loyalty to the fullest extent.

125-136

Authors: Beliz Ülgen, Mehmet Sağlam, Türker Tuğsal

The paper seeks to offer a contribution to the extent literature on the role of managers’ personality characteristics over management styles and decision-making styles. We have prepared a questionnaire which consists of Girgin’s (2007) personality scale adaptation from Goldberg (1992), Kurban’s (2015) decision-making scale adopted from Scott and Bruce (1995), and Yıldızhan’s (2012) management style scale. The questionnaire is conducted among managers and employees in various sectors in Istanbul via the single random sampling method. Frequency analysis is applied to descriptive findings. In order to determine reliability and validity of the scales, reliability and factor analysis are performed. We have focused on investigating the impact of managers’ personality traits on management styles and decision-making styles by applying the Multivariate Regression Model and Correlation Analysis. The result of the factor analysis revealed that the three dimensions (extraversion, neuroticism, conscientiousness) of big-five personality traits have a significant effect on some dimensions of managers’ decision making and management styles.

147-156

Authors: Serhat YUKSEL, Sinemis Zengin

In this paper, we tried to determine the relationship between imports, exports and growth rate in developing countries. Within this scope, 6 developing countries (Argentina, Brazil, China, Malaysia, Mexico and Turkey) were analyzed in this study. In order to achieve this purpose, annual data for the periods between 1961 and 2014 was tested by using Engle Granger co-integration analysis, Vector Error Correction Model and Toda Yamamoto causality analysis. According to the result of the analysis, it was determined that there is not any relationship among three variables in Brazil and Mexico. On the other hand, we defined that increase in export causes higher growth rate in Argentina. Moreover, it was concluded that there is a causal relationship from import to export in China and Turkey. Furthermore, it was determined that export causes higher import in Malaysia. Therefore, it can be concluded that the relationship between import, export and growth rate is not same for all developing countries..

169-176

Authors: Tsung-Ju Yang, Yi-Chen Tu, Ching-Sung Shen

Many companies and salesmen try to build and maintain long-term relationship with their customer. The influences of relationship marketing activities are important issue of the housing brokerage Market. The aims of study are to learn the impacts of relationship marketing on customer satisfaction and customer loyalty in the housing brokerage Market. The researchers survey the customers and use the regression analysis method to test the relationships between relationship marketing, customer satisfaction and customer loyalty in Taiwan. The research results show that the relationship marketing positively impacts on customer satisfaction and customer loyalty, then customer satisfaction positively impacts on customer loyalty. Customer satisfaction plays a mediating role between relationship marketing and customer loyalty. Besides, the study confirm that brokers’ expertise moderates the relationship of relationship marketing process. The findings suggest that the brokers’ relationship marketing and expertise empirically impact on the customers.