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Article
Publication date: 3 May 2016

Yener Coskun and Hasan Murat Ertugrul

The purpose of this paper is to empirically analyze volatility properties of the house price returns of Turkey and Istanbul, Ankara and Izmir provinces over the period of…

Abstract

Purpose

The purpose of this paper is to empirically analyze volatility properties of the house price returns of Turkey and Istanbul, Ankara and Izmir provinces over the period of July 2007-June 2014.

Design/methodology/approach

The paper uses conditional variance models, namely, ARCH, GARCH and E-GARCH. As the supportive approach for the discussions, we also use correlation analysis and qualitative inputs.

Findings

Empirical findings suggest several points. First, city/country-level house price return volatility series display volatility clustering pattern and therefore volatilities in house price returns are time varying. Second, it seems that there were high (excess) and stable volatility periods during observation term. Third, a significant economic event may change country/city-level volatilities. In this context, the biggest and relatively persistent shock was the lagged negative shocks of global financial crisis. More importantly, short-lived political/economic shocks have not significant impacts on house price return volatilities in Turkey, Istanbul, Ankara and Izmir. Fourth, however, house price return volatilities differ across geographic areas, volatility series may show some co-movement pattern. Fifth, volatility comparison across cities reveal that Izmir shows more excess volatility cases, Ankara recorded the highest volatility point and Istanbul and national series show lower and insignificant volatilities.

Research limitations/implications

The study uses maximum available data and focuses on some house price return volatility patterns. The first implication of the findings is that micro/macro dimensions of house price return volatilities should be carefully analyzed to forecast upside/downside risks of house price returns. Second, defined volatility clustering pattern implies that rate of return of housing investment may show specific patterns in some periods and volatile periods may result in some large losses in the returns. Third, model results generally suggest that however data constraint is a major problem, market participants should analyze regional idiosyncrasies during their decision-making in housing portfolio management. Fourth, because house prices are not sensitive to relatively less structural shocks, housing may represent long-term investment instrument if it provides satisfactory hedging from inflation.

Originality/value

The evidences and implications would be useful for housing market participants aiming to manage/use externalities of housing price movements. From a practical contribution perspective, the study provides a tool that will allow measuring first time of the return volatility patterns of house prices in Turkey and her three biggest provinces. Local level analysis for Istanbul, Ankara and Izmir provinces, as the globally fastest growing cities, would be found specifically interesting by international researchers and practitioner.

Details

Journal of European Real Estate Research, vol. 9 no. 1
Type: Research Article
ISSN: 1753-9269

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Article
Publication date: 1 April 1986

A. Coskun Samli

East European marketing progress has followed a series of economic reforms in different countries of the region. Changing marketing systems in these countries can be…

Abstract

East European marketing progress has followed a series of economic reforms in different countries of the region. Changing marketing systems in these countries can be depicted as a move away from an authoritative to an integrative macro system. Most of the countries are at different points on this particular spectrum. Marketing reforms are more specifically related to both economic and managerial decentralisation. Most marketing decisions are beginning to be made at the enterprise level rather than at the central governmental level. U.S. and other Western practitioners must understand these changes so that they can expand their business with this potentially large market.

Details

International Marketing Review, vol. 3 no. 4
Type: Research Article
ISSN: 0265-1335

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Article
Publication date: 1 February 1974

A. Coskun Sanli

Explores, within the framework of international research, product, distribution and price. Investigates the behaviour of large US firms with a view to identifying and…

Abstract

Explores, within the framework of international research, product, distribution and price. Investigates the behaviour of large US firms with a view to identifying and difference in growth rates to their counterparts. Examines the relationship between fast growth of the corporate entity as a whole and its international marketing orientation.

Details

European Journal of Marketing, vol. 8 no. 2
Type: Research Article
ISSN: 0309-0566

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Article
Publication date: 1 January 1986

Naresh K. Malhotra

This article proposes a conceptual framework and a research methodology for transferring marketing technology to developing countries to address important societal…

Abstract

This article proposes a conceptual framework and a research methodology for transferring marketing technology to developing countries to address important societal problems. The methodology developed by the author is described and illustrated with an empirical investigation. Guidelines for implementation of this methodology in developing countries are also provided.

Details

International Marketing Review, vol. 3 no. 1
Type: Research Article
ISSN: 0265-1335

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Article
Publication date: 1 March 1992

Gary L. Clark, Peter F. Kaminski and David R. Rink

Reports on a study to investigate the impact of customersatisfaction of different types of company responses to letters ofcomplaint. Considers the effects on consumers of…

Abstract

Reports on a study to investigate the impact of customer satisfaction of different types of company responses to letters of complaint. Considers the effects on consumers of various defensive marketing strategies: letter and free good, letter only, and no response. Surmises that the results support the notion that appropriate defensive marketing strategies can improve the company′s image among customers who write complaint letters.

Details

Journal of Consumer Marketing, vol. 9 no. 3
Type: Research Article
ISSN: 0736-3761

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Article
Publication date: 10 August 2015

Nick Bontis, Stevo Janošević and Vladimir Dženopoljac

The purpose of this study is to determine whether intellectual capital (IC) creates value in the Serbian hotel industry. Specifically, this paper examines to what degree…

Abstract

Purpose

The purpose of this study is to determine whether intellectual capital (IC) creates value in the Serbian hotel industry. Specifically, this paper examines to what degree IC and its key components affect the financial performance of hotels compared to physical and financial capital.

Design/methodology/approach

The sample included all of the hotels that operated as independent entities in Serbia during 2009–2012. value-added intellectual coefficient was used to measure the level of IC contribution to value creation, which was linked to various measures of financial performance, including operating profit, return on equity, return on assets, profitability and employee productivity.

Findings

Results indicate that after controlling for firm size and leverage, employee productivity and, to some extent, profitability were affected by human and structural capital. The research confirms that the financial performance of hotels in Serbia remains predominantly influenced by efficient use of physical capital.

Research limitations/implications

The study’s generalizability is limited to the hotel sector within Serbia.

Practical implications

Senior managers in the hotel industry must recognize the importance of managing both the physical aspects of their hotels and the intangible resources embedded in their employees and processes.

Originality/value

The findings will aid recognition of the importance of investing in IC in hotel industry as a crucial element of achieving competitive advantage in the information age. Moreover, the findings suggest that long-term growth should not rely solely on physical and financial assets.

Details

International Journal of Contemporary Hospitality Management, vol. 27 no. 6
Type: Research Article
ISSN: 0959-6119

Keywords

Content available
Article
Publication date: 25 April 2018

Alper Ozun, Hasan Murat Ertugrul and Yener Coskun

The purpose of this paper is to introduce an empirical model for house price spillovers between real estate markets. The model is presented by using data from the US-UK…

Abstract

Purpose

The purpose of this paper is to introduce an empirical model for house price spillovers between real estate markets. The model is presented by using data from the US-UK and London-New York housing markets over a period of 1975Q1-2016Q1 by employing both static and dynamic methodologies.

Design/methodology/approach

The research analyzes long-run static and dynamic spillover elasticity coefficients by employing three methods, namely, autoregressive distributed lag, the fully modified ordinary least square and dynamic ordinary least squares estimator under a Kalman filter approach. The empirical method also investigates dynamic correlation between the house prices by employing the dynamic control correlation method.

Findings

The paper shows how a dynamic spillover pricing analysis can be applied between real estate markets. On the empirical side, the results show that country-level causality in housing prices is running from the USA to UK, whereas city-level causality is running from London to New York. The model outcomes suggest that real estate portfolios involving US and UK assets require a dynamic risk management approach.

Research limitations/implications

One of the findings is that the dynamic conditional correlation between the US and the UK housing prices is broken during the crisis period. The paper does not discuss the reasons for that break, which requires further empirical tests by applying Markov switching regime shifts. The timing of the causality between the house prices is not empirically tested. It can be examined empirically by applying methods such as wavelets.

Practical implications

The authors observed a unidirectional causality from London to New York house prices, which is opposite to the aggregate country-level causality direction. This supports London’s specific power in the real estate markets. London has a leading role in the global urban economies residential housing markets and the behavior of its housing prices has a statistically significant causality impact on the house prices of New York City.

Social implications

The house price co-integration observed in this research at both country and city levels should be interpreted as a continuity of real estate and financial integration in practice.

Originality/value

The paper is the first research which applies a dynamic spillover analysis to examine the causality between housing prices in real estate markets. It also provides a long-term empirical evidence for a dynamic causal relationship for the global housing markets.

Details

Journal of Capital Markets Studies, vol. 2 no. 1
Type: Research Article
ISSN: 2514-4774

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Article
Publication date: 7 March 2016

Torsten J. Gerpott and Ilknur Bicak

This paper aims to empirically analyze the extent to which advertising reception among consumers with a migration background (German-Turks) is influenced by a person’s…

Abstract

Purpose

This paper aims to empirically analyze the extent to which advertising reception among consumers with a migration background (German-Turks) is influenced by a person’s strength of national identifications with his/her country-of-origin (COO) and with his/her country-of-residence (COR). The focus is on Turkey-sensitive advertisements (ads) of telecommunication service suppliers in Germany because such communication measures are quite common and about three million German-Turks constitute an economically important group.

Design/methodology/approach

Measures of COO and COR identification as well as of three ad reception criteria were obtained in a survey of 291 German-Turks and analyzed via moderated regression models.

Findings

Strength of COO identification was a significantly positive predictor of the frequency with which participants remembered Turkey-sensitive ads for telecommunication services. Additionally, COO identification related significantly to two criteria that capture facets of attitudes toward such ads. By contrast, COR identification acted partly as a moderator which attenuated links between respondents’ COO identification and two ad reception measures. Nevertheless, German-Turks with a strong COR identification (i.e. “accultured” consumers) were still receptive to Turkey-sensitive telecommunication services ads even if their self-image was simultaneously strongly dependent on their COO. “Alienated” German-Turks who identify neither with their COO nor with their COR were least responsive to ethnic ads.

Practical implications

The research indicates that marketing practitioners should not use uniform communication measures to address migrant consumers with a specific COO but segment this target group further by simultaneously considering their members’ COO and COR identifications.

Originality/value

The contribution of this paper results from the simultaneous inclusion of both COO and COR identifications as factors explaining differences in reactions to communication measures among migrant consumers which share the same COO. Furthermore, the scarcity of empirical work on reactions of German-Turks to ethnomarketing is reduced.

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Article
Publication date: 5 April 2021

Markus Lennartsson, Joakim Kävrestad and Marcus Nohlberg

For decades, literature has reported on the perceived conflict between usability and security. This mutual trade-off needs to be considered and addressed whenever security…

Abstract

Purpose

For decades, literature has reported on the perceived conflict between usability and security. This mutual trade-off needs to be considered and addressed whenever security products are developed. Achieving well-balanced levels of both is a precondition for sufficient security as users tend to reject unusable solutions. To assess it correctly, usability should be evaluated in the context of security. This paper aims to identify and describe universally applicable and solution-independent factors that affect the perceived usability of security mechanisms.

Design/methodology/approach

The selected methodology was a systematic literature review during which multiple database resources were queried. Application of predefined selection criteria led to the creation of a bibliography before backward snowballing was applied to minimize the risk of missing material of importance. All 70 included publications were then analyzed through thematic analysis.

Findings

The study resulted in the identification of 14 themes and 30 associated subthemes representing aspects with reported influence on perceived usability in the context of security. While some of them were only mentioned sparsely, the most prominent and thus presumably most significant ones were: simplicity, information and support, task completion time, error rates and error management.

Originality/value

The identified novel themes can increase knowledge about factors that influence usability. This can be useful for different groups: end users may be empowered to choose appropriate solutions more consciously, developers may be able to avoid common usability pitfalls when designing new products and system administrators may benefit from a better understanding of how to configure solutions and how to educate users efficiently.

Details

Information & Computer Security, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 2056-4961

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Article
Publication date: 4 March 2021

Artuğ Eren Coşkun and Ramazan Erturgut

The main objective of this study is to identify reliable and valid performance dimensions for both the identification and quantification of logistics performance that…

Abstract

Purpose

The main objective of this study is to identify reliable and valid performance dimensions for both the identification and quantification of logistics performance that continues its development in the academic literature.

Design/methodology/approach

Quantitative research approach was used in the scale development process. First, the logistical performance literature was analyzed in detail, and it was evaluated that the logistics performance consists mainly of logistics efficiency, logistics differentiation, logistics agility and logistics effectiveness dimensions. During the scale development process, opinions were obtained from academics, industry managers and pilot applications were carried out. For the implementation of the developed scale, a total of 108 companies engaged in logistics activities in Turkey were identified, and the developed scale was applied to 398 logistics professionals.

Findings

A 28-item logistics performance scale has been developed based on the resource-based theory to measure totally five-dimensional performance. First, the three items under the logistics agility dimension were separated from this dimension as a result of the exploratory factor analysis, and it was understood that these items belong to the “logistics flexibility” dimension. The established structure was supported by confirmatory factor analysis. The reliability and validity of the scale are within the range of acceptable values.

Research limitations/implications

The research data were collected from the Western Mediterranean region. The scale should be tested in different geographies.

Originality/value

By means of establishing a valid and reliable scale for logistics performance and its sub-dimensions, it is evaluated that this study will contribute to future research based on the measurement of logistics performance.

Details

International Journal of Productivity and Performance Management, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1741-0401

Keywords

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