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Book part
Publication date: 25 May 2021

M. Ozan Yildirim

Introduction: Financial development has a direct impact on the housing market by facilitating access to credit. The increase in housing loans resulting from the relaxation of the…

Abstract

Introduction: Financial development has a direct impact on the housing market by facilitating access to credit. The increase in housing loans resulting from the relaxation of the credit constraint causes an increase in housing demand and house prices. Purpose: This study aims to examine the relationship between financial development and house prices in Turkey, using the variables: the domestic credit to the private sector and total housing and consumer credits. Methodology: To determine any long-run relationship between financial development and house prices, the autoregressive distributed lag methods are used, covering the selected variables such as real GDP, inflation, mortgage interest rate, and stock price from 2010Q1 to 2020Q2. Findings: The study’s findings show that both variables representing financial development have a statistically significant and substantial positive effect on house prices. Besides, the selected macroeconomic variables have the theoretically expected impact on house prices.

Details

Contemporary Issues in Social Science
Type: Book
ISBN: 978-1-80043-931-3

Keywords

Article
Publication date: 30 August 2021

Mustafa Ozan Yıldırım and Cagin Karul

The purpose of this study is to examine the impact of tourism activities on house prices in Turkey from January 2010 to March 2020.

Abstract

Purpose

The purpose of this study is to examine the impact of tourism activities on house prices in Turkey from January 2010 to March 2020.

Design/methodology/approach

It is used newly developed cointegration and causality tests based on Fourier approximation. These methods consider smooth structural breaks and do not need to recognize a priori date number and/or form of breaks.

Findings

Empirical findings show that international tourism activities have a substantial role in the escalation of house prices in Turkey. Findings also indicate a rise in industrial production enhances house prices while the mortgage lending rate exhibits a negative influence on house prices. Additionally, the evidence from Fourier causality tests reveals the unilateral causal linkage from tourism to house prices. This situation also shows that the tourism sector has a substantial role in stabilizing house prices’ rapid rise as a policy implication.

Originality/value

Although a large number of papers have been analyzing the link between house prices and macroeconomic variables, this study eliminates the lack of papers examining the link between tourism and house prices in Turkey by using the new cointegration and causality methods that consider smooth structural changes.

Details

International Journal of Housing Markets and Analysis, vol. 15 no. 5
Type: Research Article
ISSN: 1753-8270

Keywords

Article
Publication date: 21 November 2016

Tulay Ilhan Nas and Ozan Kalaycioglu

This study aims to understand the antecedents of export performance at the firm level. Building on agency theory but taking into account emerging market settings and institutional…

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Abstract

Purpose

This study aims to understand the antecedents of export performance at the firm level. Building on agency theory but taking into account emerging market settings and institutional differences, the authors investigate how the board composition determines the export competitiveness of the firms operating in an emerging country from the point of view of corporate governance mechanisms.

Design/methodology/approach

Using data from 221 exporting firms for four years (2007-2010), the authors find that there is a significantly positive relationship between board size and all measures of export performance, while a higher presence of outside directors on the board is negatively associated with export performance, consistently with expectations. The separation of chairman of board of directors and chief executive officer (CEO) positions has significantly positive impact on export performance. On the other hand, the authors find no support for the position that inside director professional representation neither reduce nor increase all measures of export performance of firms. In other words, the convergence with Western practices and consistently with agency theory’s claims is evident for both board size and CEO duality. However, the effects of inside professional and outside directors are no consistent with agency theorists’ expectations.

Findings

Using data from 221 exporting firms for four years (2007-2010), the authors find that there is a significantly positive relationship between board size and all measures of export performance, while a higher presence of outside directors on the board is a negatively associated with export performance, consistently with expectations. The separation of chairman of board of directors and CEO positions has significantly positive impact on export performance. On the other hand, the authors find no support for the position that inside director professional representation neither reduce nor increase all measures of export performance of firms. In other words, the convergence with Western practices and consistently with agency theory’s claims is evident for both board size and CEO duality. However, the effects of inside professional and outside directors are no consistent with agency theorists’ expectations.

Research limitations/implications

Export performance is one of the most widely researched areas within international marketing research but least reached topic of management. However, exporting continues to be an important mode of internationalization for multinational companies, especially operating an emerging economy. This study is one of the first studies on the impact of governance factors such as board structure on only export performance rather than overall (firm) performance in light of international management. In other words, the study of the determinants of exports in the context of an emerging economy is an important contribution to the literature, given that our understanding of how the board composition determines the export competitiveness from the point of view of firms operating in an emerging country such as Turkey. Moreover, this research investigates this relationship at objective export performance dimensions using primary data set from listed and non-listed export firms.

Practical implications

The current study offered in-depth information to multinational companies that aim to gain a competitive exporting advantage in Turkey. Further, the results of this study give managers an opportunity to see the reasons behind the success of the exporting firms from the point of view of corporate governance mechanism.

Originality/value

In this paper, the authors contribute to this recent stream of research providing evidence on the effects of governance mechanism on the export performance from the point of view of emerging countries. Building on agency theory but taking into account emerging market settings and institutional differences, and international management, the authors provide a new framework that models the linkages between board composition and export performance. This work helps us to gain a deeper understanding of how board dynamics contribute to the internalization of firms. Research in this area has been sparse, although some studies have linked governance with export intensity. In this effort, the authors differentiate from previous studies in several ways.

Details

Management Research Review, vol. 39 no. 11
Type: Research Article
ISSN: 2040-8269

Keywords

Article
Publication date: 19 April 2022

Sait Gül, Çağlar Sivri and Ozan Rıdvan Aksu

The purpose of this paper is to determine which criteria should be taken into account while choosing face masks for pandemic times and to what extent their effects are.

Abstract

Purpose

The purpose of this paper is to determine which criteria should be taken into account while choosing face masks for pandemic times and to what extent their effects are.

Design/methodology/approach

Nine face mask alternatives were evaluated based on the assessments of their performance with respect to twelve attributes. Seven experts were asked to evaluate the mask alternatives and the influences among attributes. In gathering expert judgments, spherical fuzzy number-based linguistic terms were utilized in the study to provide a more comprehensive representation domain to them.

Findings

According to the results, the most important attributes are found as material type, cost and bacteria–virus protection level. The best face mask is N95, which is followed by respirators and surgical masks.

Research limitations/implications

The implication of the research is to evaluate face masks in terms of criteria such as physical, performance, protection and cost to decide on what basis they were selected as a personal protective equipment (PPE) based on expert assessments. This is useful in selection of the right face mask with optimum performance and provides guidance to the general public and profession specific groups for this purpose. The face mask companies might be also benefitted from the implications of the present study in their design and research and development (R&D) operations.

Originality/value

The preference ranking of the face mask alternatives has not been studied in detail yet in the literature. Focusing on this issue, the present study provides a comprehensive assessment of the selection criteria of face masks in the pandemic era.

Details

International Journal of Clothing Science and Technology, vol. 34 no. 5
Type: Research Article
ISSN: 0955-6222

Keywords

Content available
Article
Publication date: 29 November 2022

Marco Valeri

Abstract

Details

Journal of Family Business Management, vol. 12 no. 3
Type: Research Article
ISSN: 2043-6238

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