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The purpose of this paper is to analyze the association between banks’ advertising expenses and accounting measures of income and profitability for banking sector.

In this study the authors have used distributed lag models to investigate the association between advertising expenses and banks’ financial performance. To investigate the long-term effect of advertising expenses on financial performance of banking sector Koyck’s distributed lag models have been used.

The results confirm a significant and positive association between advertising expenses and financial performance. Besides its positive effect, the authors provide a basis for detecting the extent to which advertising has long-term benefits. The results show a positive association between advertising expenses and financial performance that extend that extends over time, thereby suggesting that advertising expenses should be capitalized and then amortized instead of being incurred as an expense immediately.

Although there are lots of studies about advertising and its effect on financial position of firms, research about advertising effects on financial performance of banking sector is very scarce. Therefore, this study has a potential to shed light on research about marketing aspect of financial sector. Besides, empirical results show a positive association between advertising expenses and financial performance that extend that extends over time (interest income, total operating income and return on assets), thereby suggesting that advertising expenses should be capitalized and then amortized instead of being incurred as an expense immediately. To sum it all, the paper finds an evidence for banking sector that advertising inholds “future economic benefits” which is the key criterion necessary for asset recognition.

There are many factors that determine consumers’ satisfaction. Specifically, the current study examines how political-economic views affect the perception of public services. This study also aims to extend the relationship between public service satisfaction and political-economic opinion from an empirical perspective.

The analysis process is carried out with the Microdataset of the Life Satisfaction Survey. Independent sample t-test which compares individual public service satisfaction ratings and ordinal probit regression models assesses the impacts of political-economic attitude on public service satisfaction.

According to the findings, household size and gender impact public service satisfaction. Again, service satisfaction diminishes as the education level rises. Moreover, a person’s political-economic view affects their public service satisfaction. The study has the potential to literature in terms of determining society’s political-economic view on public services with these empirical results.

The study’s use of the state as a point of reference and quantitative and qualitative evaluation of the service exchange between the citizen and the state is a significant difference in the literature. Also, unlike the other studies, this one used microdata to test the relationship between the political-economic type and the level of satisfaction with public services at different levels. It is thought that future studies on the determinants of public service satisfaction, to be carried out in different country samples, will contribute to the field.

This study has implications on whether the perception of public service varies according to partisanship status.

This study has implications on whether the perception of public service varies according to partisanship status.

This study determines the interaction between the political-economic typology derived from microdata and the satisfaction level variables related to public services offered at different levels. It also evaluates how public service satisfaction differs regarding personality traits and political-economic attitudes.

This study aims to include two primary goals. First to determine the board characteristics of listed companies in Turkey and second to investigate the effect of board gender diversity on the performance of these companies.

This study uses an instrumental variables regression analysis to investigate the relationship between board gender diversity and firm performance using the data from 2008-2012 of the entities listed on the Borsa Istanbul.

The results indicate that the boards of these companies in Turkey are male-dominated. Moreover, this study shows that the inclusion of female directors is positively related to the financial performance of firms, as measured by the return on assets, the return on equity and the return on sales.

Limited empirical studies have been conducted on the relationship between board gender diversity and firm performance in emerging economies. Therefore, there is still no consensus regarding the link between board gender diversity and firm financial performance based upon the mixed and sometimes contradictory results in prior research. Therefore, this study extends the current literature in the context of Turkey, showing that a female member on the board can enhance the financial performance of a company.

The purpose of this paper is to investigate the influences of coating colours and their contents on the fundamental properties of base papers and also evaluate these results in terms of mechanical and wood-free papers.

A design research approach has been based on the application of various coating colours and analysis of mechanical and optical tests results of the coated mechanical and wood-free base papers.

This study is confirmed that the coating colours can be easily applied to the surface of the papers. The experimental data have revealed that significant improvements exist in the values of tear resistance (strength), brightness and opacity of the mechanical base papers, especially by the application of the coating colours including kaolin pigment. The results show that mechanical papers can also be used in areas with high brightness expectations by applying coating colour.

The originality of this work is based on understanding and comparing the effects of applying similar coating formulations on mechanical and wood-free base papers.

This study aims to emphasize utilization of Predictive Six Sigma to achieve process improvements based on machine learning (ML) techniques embedded in define, measure, analyze, improve, control (DMAIC). With this aim, this study presents selection and utilization of ML techniques, including multiple linear regression (MLR), artificial neural network (ANN), random forests (RF), gradient boosting machines (GBM) and k-nearest neighbors (k-NN) in the analyze and improve phases of Six Sigma DMAIC.

A data set containing 320 observations with nine input and one output variables is used. To achieve the objective which was to decrease the number of fabric defects, five ML techniques were compared in terms of prediction performance and best tools were selected. Next, most important causes of defects were determined via these tools. Finally, parameter optimization was conducted for minimum number of defects.

Among five ML tools, ANN, GBM and RF are found to be the best predictors. Out of nine potential causes, “machine speed” and “fabric width” are determined as the most important variables by using these tools. Then, optimum values for “machine speed” and “fabric width” for fabric defect minimization are determined both via regression response optimizer and ANN surface optimization. Ultimately, average defect number was decreased from 13/roll to 3/roll, which is a considerable decrease attained through utilization of ML techniques in Six Sigma.

Addressing an important gap in Six Sigma literature, in this study, certain ML techniques (i.e. MLR, ANN, RF, GBM and k-NN) are compared and the ones possessing best performances are used in the analyze and improve phases of Six Sigma DMAIC.

This study produced epoxy-filled urea-formaldehyde (UF) microcapsules (MCs) and T-403 amine MCs using the in situ technique. The Taguchi method was used to determine the effects of the control factors (temperature, stirring speed, core-shell ratio and surfactant concentration) affecting MCs’ core diameter and core content and optimizing their optimum levels with a single criterion. Optimum control factor levels, which simultaneously provide maximum core diameter and core content of MCs, were determined by the PROMETHEE-GAIA multi-criteria optimization method. In addition, the optimized MC yield was analyzed by thermal camera images and compression test.

Microcracks in materials used for aerospace vehicles and automotive parts cause serious problems, so research on self-healing in materials science becomes critical. The damages caused by micro-cracks need to heal themselves quickly. The study has three aims: (1) production of self-healing MCs, mechanical and chemical characterization of produced MCs, (2) single-criteria and multi-criteria optimization of parameters providing maximum MC core diameter and core content, (3) investigation of self-healing property of produced MCs and evaluation. Firstly, MCs were produced to achieve these goals.

The optimized micro cures are buried in the epoxy matrix at different concentrations. Thermal camera images after damage indicate the presence of healing. An epoxy-amine MC consisting of a 10% by weight filled aluminum sandwich panel was prepared and subjected to a quasi-static compression test. It was determined that there is a strong bond between the UF shell and the epoxy resin.

The optimization of production factors has been realized to produce the most efficient MCs that heal using less expensive and more accessible methods.

The objective of this study is to investigate whether the institutional environment is associated with the adoption of integrated reporting.

The sample of the study is based on the firms included in the list of Fortune Global 500. The logistic regression analysis was run to test the proposed hypotheses.

The findings indicated that the code-law orientation and strength of the institutional quality are significantly associated (i.e. positively and negatively, respectively) with the integrated reporting of Fortune 500 companies. Firms are motivated for more transparency in stakeholder-oriented and weakly regulated contexts. Thus, stakeholder pressure is more influential than shareholder interest in motivating or forcing firms to issue integrated reports. Besides, there appears to be a trade-off between the public sector and the private sector in terms of ensuring an accountable and transparent business environment. If the public sector does not undertake its role in ensuring a transparent business environment, the private sector fills the gap. The results are robust to alternative sampling and methodologies.

This study implied that the stakeholder orientation of countries fosters the transparency and accountability of firms. Corporate behavior is impacted by the institutional strength or weakness of nations. The institutional theory provides an appropriate ground to understand drivers of corporate reporting practices of firms beyond firm-level characteristics.

The adoption of integrated reporting framework by Fortune 500 companies can be leveraged to alleviate concerns about their social and environmental impacts. Policy-makers in the countries which have a weak institutional environment force or encourage their firms to increasingly meet the transparency and accountability demands of society.

The research findings might play an encouraging role in that various stakeholders (i.e. customers, public, civil organizations and press) should undertake active roles and responsibilities to encourage firms to behave in socially and environmentally responsible ways.

This study adds to the literature by examining the influence of the institutional environment on the adoption of integrated reporting, using recent international data, and focusing on the largest companies according to the Fortune's annual Global 500 list. This study is one of the first to examine the association between a set of governance characteristics (i.e. board size, board independence and board diversity) and integrated reporting adoption.

Drawing on institutional theory and knowledge spillover, the study aims to examine whether there is a causality relationship between macroeconomic factors and research productivity.

The study uses fixed-effects (FE) panel regression analysis, utilizing 1,614 country–year observations and 541,732 citable publications between 1996 and 2017, to explore the relationship between macroeconomic factors, research and development (R&D) expenditure and research productivity in economics and finance.

The results highlight a two-way relationship between R&D expenditure and economic development and research productivity. However, research productivity has no relationship with foreign direct investment (FDI), trade and financial development. In terms of remaining macroeconomic factors, financial development, trade and FDI have insignificant associations with research productivity in both directions of causality. In line with institutional theory, the findings support the notion that economically more developed countries and countries dedicating greater R&D funds have more potential to support research activities. On the other hand, in line with knowledge spillover, the research output of nations contributes to the economic development and expansion of R&D budgets. The results are robust to alternative methodology, endogeneity concerns, additional control variables, alternative sampling and alternative research productivity proxy.

The study suggests practical implications for nations to formulate macro-policies and a better research environment for academicians and to establish links between academic research and macroeconomic factors.

First, as there is limited research focusing on the bidirectional causality between the macroeconomic environment and academic research activity, the study adds to the understanding of the causality relationship between these two constructs. Second, it examines the bidirectional relationship between macroeconomic factors and research output at a global scale, while prior studies mostly focus on a single country, or a certain region or continent. Further, it is one of the few attempts particularly focusing on economics and finance research's bidirectional relation with the macroeconomic environment.

COVID-19, like many previous crises, proved once more that some hospitality and tourism organizations are more crises resilient than others. Despite increasing frequency and magnitude of crises, little is known about the features of crises resilient organizations and mitigation strategies they adopt. If the characteristics of such resiliency are identified, those strengths might be targeted. Hence, the purpose of this study is to identify characteristics of crises resilient organizations by analyzing the interface between different organizational characteristics, recovery strategies they adopted and impacts of COVID-19 on individual hospitality and tourism organizations.

A global sample of 202 respondents from 20 countries and four continents, representing different sectors of the hospitality and tourism industry, participated in the survey. Descriptive analysis and cluster analysis were used to rank the items and group hospitality and tourism organizations based on their crises resiliency.

Service quality, loyal customers, branding, high paid in capital, domestic market base, hygiene and safety image, information and communication technology adoption, product and market diversification and restructuring debts emerged as major characteristics and strategies of crises resilient organizations. Using cluster analysis, four different groups of organizations were identified. Based on the impacts of COVID-19 on these organizations, Cluster-1 emerged as significantly more crises resilient, whereas Cluster-4 organizations were significantly more vulnerable to crises. Their characteristics and mitigation strategies they adopted were discussed.

The paper not only identified features of crises resilient organizations and successful mitigation strategies but also measured their impact on various performance indicators. Future studies might use characteristics, mitigation strategies and performance indicators identified in this study.

Based on the findings, tourism organizations would focus on strengthening characteristics and implementing strategies that make crises resilient organizations. Public bodies and destination management would also set their decision criteria based on these findings to create a more resilient tourism industry.

This research not only identifies how hospitality and tourism organizations are affected by COVID-19 but also how these impacts change based on different organizational characteristics and strategies. Understanding which organizational characteristics affect the crises vulnerability of hospitality and tourism organizations might inform risk and crises management literature and structural design elements in tourism businesses, hence offer both theoretical and practical implications.

This study aims to examine the relationship between neutrophil to lymphocyte ratio (NLR), handgrip strength (HGS) and nutritional status in non-critically ill patients and outpatients.

A cross-sectional study was conducted on 80 geriatric patients. Nutritional status was evaluated using the Mini Nutritional Assessment Short Form, Geriatric Nutritional Risk Index, some anthropometric and biochemical parameters. NLR was calculated from the complete blood count results. Data were analyzed using SPSS 24.0.

While 38.3% of patients were malnourished or at risk of malnutrition, 61.7% had normal nutritional status. Mini Nutritional Assessment Short Form was not correlated with NLR, whereas it showed a weak positive correlation with HGS. According to the logistic regression analysis, age, HGS, hemoglobin and platelet to lymphocyte ratio were significant independent factors for predicting malnutrition or risk of malnutrition. The receiver operator characteristic curve analysis showed that the optimum HGS cut-off point for patients with malnourished or at risk of malnutrition was 13.2. In conclusion, HGS was associated with the nutritional status. NLR was not associated with nutritional status but associated with nutritional risk.

It is well known that malnutrition is a serious health problem among older adults, and it is important to assess the nutritional status of older adults because of the adverse health effects. In addition, to the best of the authors’ knowledge, this is the first study to determine the relationship between NLR, HGS and nutritional status in non-critically ill patients and outpatients.