İşletme Fakültesi

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Citation Count: 4
An Adaptive Affinity Matrix Optimization for Locality Preserving Projection via Heuristic Methods for Hyperspectral Image Analysis
(IEEE-Inst Electrıcal Electronıcs Engıneers Inc, 2019) Ceylan, Oğuzhan; Ceylan, Oğuzhan
Locality preserving projection (LPP) has been often used as a dimensionality reduction tool for hyperspectral image analysis especially in the context of classification since it provides a projection matrix for embedding test samples to low dimensional space. However, the performance of LPP heavily depends on the optimization of two parameters of the graph affinity matrix: k-nearest neighbor and heat kernel width, when one considers an isotropic kernel. These two parameters might be optimally chosen simply based on a grid search. In case of using a generalized heat kernel where each feature is separately weighted by a kernel width, the number of parameters that need to be optimized is related to the number of features of the dataset, which might not be very easy to tune. Therefore, in this article, we propose to use heuristic methods, including genetic algorithm (GA), harmony search (HS), and particle swarm optimization (PSO), to explore the effects of the heat kernel parameters aiming to analyze the embedding quality of LPP's projection in terms of various aspects, including 1-NN classification accuracy, locality preserving power, and quality of the graph affinity matrix. The results obtained with the experiments on three hyperspectral datasets show that HS performs better than GA and PSO in optimizing the parameters of the affinity matrix, and the generalized heat kernel achieves better performance than the isotropic kernel. Additionally, a feature selection application is performed by using the kernel width of the generalized heat kernel for each heuristic method. The results show that very promising results are obtained in comparison with the state-of-the-art feature selection methods.
Citation Count: 5
Art investment: hedging or safe haven through financial crises
(Springer, 2020) Öztürkkal, Belma; Toğan-Eğrican, Aslı
We analyze long-term art auction sales data focusing on and around financial crisis periods with other investment returns to understand whether art can be considered a safe haven during volatile times or a hedging option in general by analyzing art auction data in a volatile emerging market. Our findings suggest Turkish art returns are either negatively correlated or at low correlation with other investments, including the equity market. We have the view that art can be considered a hedging mechanism on average to enhance returns and to decrease the risk of portfolios and improve diversification. However, we do not discard the safe-haven hypothesis, either. Although the auction data on the crisis period is limited, results of and around crisis periods show art returns are positively correlated with various volatility indices. In addition, the number of art transactions also increases after the crisis years, which may be a sign of liquidity requirement of some investors and an opportunity for buyers. The benefit is visible especially during years of contractions, which do not end with a very severe crisis, since the art auction market liquidity dries if the crisis is severe.
Citation Count: 0
Babbling through social media: A cross-country study mapping out social networks using eWOM intentions
(Springer, 2023) Zülal, İşler; Kıygı-Çallı, Meltem; El Oraiby, Maryam
This research aims to determine the factors affecting the users’ electronic word-of-mouth (eWOM) seeking and sharing intentions and to reveal the interactions among and within clusters using social network analysis (SNA). This study includes three hierarchical sub-studies conducted in two countries, Turkey and Poland. First, we develop a segmentation for social networking site (SNS) users based on the frequency of sharing product-related information on SNSs. Second, we investigate the impact of several factors that affect eWOM seeking and sharing intentions using regression analysis. In the second sub-study, we also include the identified segments developed in the first sub-study as another factor that may have differentiated eWOM intentions. Third, to understand the degree of interaction among SNS users, we apply an SNA using the forecasted eWOM intentions scores from the second sub-study, which gives us hypothetical social networks. The results of SNA present strong interactions inter- and intra-clusters in both countries. Some key findings include the identification of three SNS user segments, including “Middlers,” that may be of particular interest to brands. We also find that in terms of eWOM intentions, users in Turkey are more active than in Poland. Although some predictors of eWOM seeking and sharing intentions differ between the two countries, users intend to be more active in eWOM seeking than in eWOM sharing. The comparative study provides valuable insights for decision-makers to engage different market segments via SNSs with various proposed features using suggested information contents for selected product categories.
Citation Count: 0
Capital Markets Trade Openness and Productivity in Emerging Economies Introduction
(M.E Sharpe Inc., 2011) Bilgin, Mehmet Hüseyin; Danis, Hakan
[Abstract Not Available]
Citation Count: 5
A Competitive Intelligence Practices Typology in an Airline Company in Turkey
(Springer, 2020) Şahin, Murat; Bisson, Christophe
Oil prices, political instabilities, travel legislations, and many other competitive factors make it essential for any international airline with the instinct to survive to be on constant watch in such a fiercely competitive environment. To meet this need, it is vital for international airline companies to integrate competitive intelligence (CI) into their strategy building process. In this study, we create for the first time a typology of competitive intelligence practices of an international airline company (in Turkey), based on the model developed by (Wright et al.Journal of Strategic Marketing, 20(1), 19-33,2012), and it is one of the very first to investigate Competitive intelligence in this sector. Furthermore, we made a two-step cluster analysis to uncover hidden clusters that change the way of thinking within the company. Our findings show where the company would need to make improvements on the 6 strands of the model which are attitude, gathering, use, location, technological support, and IT support. Yet, that could lead towards stronger business performance. It might also inspire other companies of the airline sector and beyond.
Citation Count: 12
Corporate diversification and firm value: evidence from emerging markets
(Emerald Group Publishing Limited, 2015) Akben Selçuk, Elif
Purpose - The purpose of this paper is to investigate the impact of corporate diversification on firm value in a sample of nine emerging markets including Brazil Chile Indonesia Malaysia Philippines Poland South Africa Thailand and Turkey. For the purpose of this study a company is classified as diversified when it is operating in two or more lines of business defined by the two-digit SIC codes. Design/methodology/approach - Employing panel data from 1568 companies for the period 2005-2010 this paper estimates both a fixed effects model and a dynamic generalized method of moments model. Data are collected both at company level and segment level within each firm. Findings - Overall analysis results suggest that for the period from 2005 to 2010 diversified firms in emerging markets are valued more compared to single-segment firms operating in similar industries providing support for diversification premium. Originality/value - The effect of diversification on company value in emerging markets is an important managerial and public policy concern. Although the literature on developed country diversified firms is rich only a few studies have examined diversification-value relationship in the context of developing countries. Furthermore most previous research on the value effects of corporate diversification in emerging markets has taken the form of case studies within countries and concentrated on the 1990s. This paper tries to fill these gaps by using a larger sample and more recent data and methodology.
Citation Count: 7
Daily and Intraday Herding within Different Types of Investors in Borsa Istanbul
(Routledge Journals, Taylor & Francis Ltd, 2019) Ersan, Oğuz; Ekinci, Cumhur; Ersan, Oğuz
This paper aims to explore the daily and intraday herd behavior of various investor groups trading in an emerging equity market, Borsa Istanbul (BIST). We analyze a one-year tick-by-tick order and trade data of BIST 100 Index stocks and document differences in herding behavior of investor groups considering market capitalization, market conditions, and announcements as well as daily and intraday periodicities. We find that nonprofessional investors (brokerage houses and domestic funds) tend to herd on large (small) stocks; their herding behavior mostly exhibits a U shape (an inverse U shape) during the day. All types of investors tend to herd in down markets on a daily basis while this behavior disappears, even inverts intraday.
Citation Count: 14
Determinants of Saving-Borrowing Decisions and Financial Inclusion in a High Middle Income Country: The Turkish Case
(Routledge Journals Taylor & Francis Ltd, 2016) Davutyan, Nurhan; Öztürkkal, Belma
We use a representative survey of the Turkish household sector and investigate factors impinging on saving-borrowing behavior. We run four probit regressions to elucidate (i) the saving decision (ii) asset choice or portfolio composition for those who save (iii) the bank loan decision and lastly (iv) the formal versus informal borrowing decision. We find income education marital status and region within country strongly correlate with those decisions. We offer some insights regarding the influence of variables like rural to urban migrant status and religious belief on saving and borrowing decisions. We discuss the long-term implications of our findings on the Turkish household savings performance.
Citation Count: 7
Dissidents with an innovation cause? Non-institutionalized actors' online social knowledge sharing solution-finding tensions and technology management innovation
(Emerald Group Publishing Limited, 2015) De Kervenoael, Ronan; Bisson, Christophe; Palmer, Mark
Purpose - Traditionally most studies focus on institutionalized management-driven actors to understand technology management innovation. The purpose of this paper is to argue that there is a need for research to study the nature and role of dissident non-institutionalized actors' (i.e. outsourced web designers and rapid application software developers). The authors propose that through online social knowledge sharing non-institutionalized actors' solution-finding tensions enable technology management innovation. Design/methodology/approach - A synthesis of the literature and an analysis of the data (21 interviews) provided insights in three areas of solution-finding tensions enabling management innovation. The authors frame the analysis on the peripherally deviant work and the nature of the ways that dissident non-institutionalized actors deviate from their clients (understood as the firm) original contracted objectives. Findings - The findings provide insights into the productive role of solution-finding tensions in enabling opportunities for management service innovation. Furthermore deviant practices that leverage non-institutionalized actors' online social knowledge to fulfill customers' requirements are not interpreted negatively but as a positive willingness to proactively explore alternative paths. Research limitations/implications - The findings demonstrate the importance of dissident non-institutionalized actors in technology management innovation. However this work is based on a single country (USA) and additional research is needed to validate and generalize the findings in other cultural and institutional settings. Originality/value - This paper provides new insights into the perceptions of dissident non-institutionalized actors in the practice of IT managerial decision making. The work departs from but also extends the previous literature demonstrating that peripherally deviant work in solution-finding practice creates tensions enabling management innovation between IT providers and users.
Citation Count: 10
Efficiency analysis of Black sea container seaports: application of an integrated MCDM approach
(Routledge, 2020) Görçün, Ömer Faruk
The current paper carries out an examination about the selection of the proper container seaport, which in the Black sea region. This paper focuses on a research question. Is it possible to apply multi-criteria decision-making methods that can be applied more easily than the DEA technique for decision-makers? In order to determine the best performance analysis technique that can give successful results, two-hybrid multi-criteria decision-making models were selected and operational performances of the container ports in the Black Sea region were analyzed with the help of these integrated approaches. While the first MCDM model consists of the entropy and OCRA technique, the second hybrid model consists of the Entropy and EATWIOS method. The main aim of this paper is to discuss whether these proposed hybrid models can be implemented to make an effective performance analysis for the maritime industry. The second aim of this paper is to evaluate the Black sea container seaports with the help of this suggested model. The study reveals that the proposed MCDM models can be implemented for container port selection successfully and easily and both of them have given very closer results to each other in aspects of the evaluation of the criteria and options.
Citation Count: 4
Eurasian geopolitics and financial crisis: transforming Russian-Turkish relations from geopolitical rivalry to strategic cooperation
(Routledge Journals Taylor & Francis Ltd, 2010) İşeri, Emre
[Abstract Not Available]
Citation Count: 2
How does self-concept clarity influence happiness in social settings? The role of strangers versus friends
(Routledge Journals Taylor & Francis Ltd, 2019) Merdin-Uygur, Ezgi; Sarial-Abi, Gulen; Gurhan-Canli, Zeynep; Hesapci, Ozlem
Self-concept clarity (SCC) defined as the extent to which the content of an individual's self-beliefs is clearly and confidently defined and internally consistent influences experiences in social relationships. This paper extends the previous literature on SCC by proposing and demonstrating that high-SCC individuals anticipate and experience more happiness than low-SCC individuals when they share a social setting with friends and anticipate and experience less happiness than low-SCC individuals when they share a social setting with strangers and that this is because of perceived interpersonal distance. A series of four studies including both online studies and a field study support these predictions. Alternative explanations of self-esteem and self-efficacy are also ruled out. The findings yield both theoretical contributions and practical implications.
Citation Count: 42
An investigation of financial literacy money ethics and time preferences among college students: A structural equation model
(Emerald Group Publishing Limited, 2019) Aydin, Asli Elif; Akben Selçuk, Elif
Purpose: Financial literacy has a strong influence on financial well-being and it is a concept especially important for college students who start to develop their financial habits. The purpose of this paper is to examine the relationship between financial literacy money attitudes and time preferences among Turkish university students. Design/methodology/approach: Data were collected from 1443 university students from 14 campuses in Turkey. Structural equation modeling methodology is employed to test the hypotheses. Findings: The results suggest that students with higher financial knowledge scores have more favorable financial attitudes and exhibit more desirable financial behaviors. It is also demonstrated that financial attitude is positively related to financial behavior. Furthermore a significant and negative relationship between the affective dimension of the money ethic construct and financial behavior is found. In contrast the relationship between the behavioral dimension of money ethic and financial behavior is positive. It is further demonstrated that a present orientation leads to more negative financial attitudes. Originality/value: This study will reveal the interrelationships among dimensions of financial literacy money ethics and time preferences in an emerging economy with a relatively little experience with formal financial systems and unstable macroeconomic conditions. © 2019 Emerald Publishing Limited.
Citation Count: 3
Liberalization Post-Crisis Restructuring and Internationalization in Turkish Banking
(Routledge Journals Taylor & Francis Ltd, 2015) Yıldırım, Canan
This study provides a historical review of the transformation of the Turkish banking sector since the initiation of the financial liberalization program in 1980. It demonstrates the roles of macroeconomic institutional and firm-level factors in the evolution of market and ownership structures as well as the performance of the sector. It focuses on the penetration of foreign banks in the Turkish market and the more recently observed entries of Turkish banks into neighboring countries. It contributes to the literature by illustrating how the domestic macroeconomic and institutional environment together with international banking circumstances affect the processes and outcomes of internationalization in emerging banking markets.
Citation Count: 7
The Limitations of Turkey's New Foreign Policy Activism in the Caucasian Regional Security Complexity
(Routledge Journals Taylor & Francis Ltd, 2011) İşeri, Emre; Dilek, Oğuz
A panoramic outlook on the present global system shows that the US has been failing to preserve its global preponderance against the rise of new contenders from Asia. Turkey's new foreign policy demeanor under the AKP government reflects this shift of global power from the West to the East leaning on both of these two poles (especially Russia and the US) thereby aims at creating a 'zero-problem' situation with the neighboring Caucasian states. Yet this strategy has not achieved its goal mainly due to the ongoing debates not only between Moscow and Washington but also between Azerbaijan and Armenia in the Caucasian Regional Security Complexity. This work tries to read all these developments by applying insights from the neoclassical realist standing and argues that there are two main hindrances to the plan's success: the dynamics of the current global system and the security complexity of the Caucasus region.
Citation Count: 42
Loan loss provisioning of US banks: Economic policy uncertainty and discretionary behavior
(Elsevier Inc, 2021) Öztürk Danışman, Gamze; Demir, Ender; Ozili, Peterson K.
This paper examines the effect of economic policy uncertainty (EPU) on loan loss provisions (LLP). Using a sample of 6384 US banks and yearly data from 2009 to 2019 and addressing endogeneity (GMM and IV estimations), the findings reveal that in times of higher economic policy uncertainty, banks tend to increase their loan loss provisioning. Considering the four components of EPU, the findings document that the majority of the explanatory power on loan loss provisions originates from news-based and tax expiration indices. Moreover, US banks discretionally use loan loss provisions in normal times, especially for capital management and income smoothing. In uncertain times, they use provisions for income smoothing rather than capital management and after controlling for the discretionary behavior, the positive relationship of EPU and LLPs continue to hold. Additional analysis indicates that private banks conduct more income smoothing through provisions in uncertain times as compared to listed banks. The findings of the study highlight EPU as an additional procyclical factor to influence bank provisioning behavior and offer some relevant policy implications.
Citation Count: 3
Machine learning model to predict an adult learner's decision to continue ESOL course or not
(Springer, 2019) Dağ, Hasan; Dağ, Hasan
This study investigated the ability of the demographic and the affective variables to predict the adult learners' decision to continue ESOL courser. 278 adult learners, enrolled on ESOL course at FLS institution in Istanbul, Turkey, participated in the study. The result showed that the continued or dropped out groups, demonstrated statistical differences in the demographic variable (the placement test score) with a magnitude of large effect size (.378). Additionally, the result showed the effect size in the perception of the affective variables (motivation, attitude, and anxiety), accounts for about 50% of the variation between the continuation and dropout groups. Following that, three machine learning models were proposed; all possible subset regression analysis was used to compare the three models. The adequate model, which fitted the demographic variable (the placement test score) and the affective variables (motivation, attitude, and anxiety), correctly predicted 83.3% of the adult learners' decision to continue ESOL course. The model showed about 68% goodness-of-fit. The cultural implications of these findings are discussed, along with suggestions for future research.
Citation Count: 9
Modeling of claim exceedances over random thresholds for related insurance portfolios
(Elsevier Science Bv, 2011) Gebizlioğlu, Ömer Lütfi; Gebizlioğlu, Ömer Lütfi; Tank, Fatih
Large claims in an actuarial risk process are of special importance for the actuarial decision making about several issues like pricing of risks determination of retention treaties and capital requirements for solvency. This paper presents a model about claim occurrences in an insurance portfolio that exceed the largest claim of another portfolio providing the same sort of insurance coverages. Two cases are taken into consideration: independent and identically distributed claims and exchangeable dependent claims in each of the portfolios. Copulas are used to model the dependence situations. Several theorems and examples are presented for the distributional properties and expected values of the critical quantities under concern. (C) 2011 Elsevier B.V. All rights reserved.
Citation Count: 46
Patterns of B2B e-commerce usage in SMEs
(Emerald Group Publishing Limited, 2012) Sila, Ismail; Dobni, Dawn M.
Purpose - The purpose of this paper is to identify the B2B e-commerce (B2BEC) usage patterns of North American small- and medium-sized enterprises (SMEs) in their supply chains the contextual factors that influence usage patterns and the subsequent effects of these patterns on firm performance. Design/methodology/approach - The authors conducted an online survey of North American SMEs and obtained 229 responses. They utilized several statistical methods including cluster analysis and profile analysis to test five hypotheses. Findings - The TOE framework supplemented with interorganizational factors provides a valid theoretical guideline to study firms' B2BEC usage patterns. Three distinct types of B2BEC usage patterns - E-Limiteds E-Leaders and E-Laggards - emerged. Different sets of contextual factors contribute to the formation of these three patterns of B2BEC adoption. Higher levels of B2BEC usage result in stronger firm performance. Research limitations/implications - Future clustering variables could be more specific. The effects of other potential contextual factors should also be explored by future studies. This study can be replicated in other countries to determine whether the findings can be generalized. Practical implications - In light of the potential performance improvements that B2BEC adoption offers managers should assess the risks associated with maintaining their current speed of e-business deployment versus the risks associated with escalating it. Organizations that have been more reactive should consider how well or ill their sluggish approach prepares them for navigating the inevitability of increasing sophistication in supply chain management. Originality/value - Limited empirical research exists on theB2BECusage patterns of NorthAmerican SMEs the contextual factors that motivate them to adopt different B2BEC technologies in their supply chains and how each of these usage patterns affects their performance. The current study contributes to the literature by shedding light on these issues. © Emerald Group Publishing Limited.
Citation Count: 9
Personality and contextual antecedents of organizational citizenship behavior: A study of two occupational groups
(Cambridge Univ Press, 2014) İmer, Havva Pınar; Kabasakal, Hayat; Dastmalchian, Ali
This paper examines the impact of personality trait of dispositional affect and contextual variables of multiple commitments on organizational citizenship behaviors (OCBs) in two occupational groups. Three dimensions of OCBs were considered: helping civic virtue and sportsmanship behaviors. We used positive and negative affectivity scale to measure dispositional affect. For commitments we examined affective and normative organizational and occupational commitments. The data were collected from 180 engineers and 180 teachers. The findings show that affect multiple commitments and occupation all have significant impacts on different dimensions of OCBs. Dispositional affect had the most influence on all three dimensions of OCBs. In addition helping behavior is affected by normative organizational commitment while civic virtue behavior is influenced by affective commitments (both organizational and occupational) and occupation. Sportsmanship behavior is explained by occupation and affective organizational commitment. Occupation has been shown to make a unique contribution to understanding OCBs. The present study showed that the teachers for example exhibited more civic virtue and sportsmanship behaviors than the engineers. Implications of the findings for future research and practice are discussed.

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