Pressacademia最新文献

{"title":"Turkiye as a regional hub","authors":"Dilek Teker, Suat Teker, Irmak Orman","doi":"10.17261/pressacademia.2023.1866","DOIUrl":"https://doi.org/10.17261/pressacademia.2023.1866","url":null,"abstract":"Purpose- This study examines Türkiye's strategic importance and potential to serve as a pivotal regional hub for businesses. The study also investigates the various fields of businesses for being a potential hub. A review of common concerns that needs further developments are analysed.\u0000Methodology- The study utilizes an analytical literature survey and investigates the various business fields for becoming a regional hub.\u0000Findings- Turkiye is the 7th largest economy by GDP in Europe by IMF among 22 countries for the year 2022. Turkiye is ranked as the 1st in ease of setting and welcoming categories at Expat Explorer Index, and 7th in the world in the year 2019. More, Turkish international airports serve for 342 direct flights for 128 countries with Turkish Airlines and proximity to these markets with a total GDP of 46 trillion USD within 4 hours flight.\u0000Conclusion- Turkiye's unique geographical position bridges Europe and Asia providing a natural gateway between the East and the West. Proximity to major markets enhances its appeal as a strategic center for trade and commerce. Ongoing investments in infrastructure, including transportation networks and logistics facilities, are positioning Türkiye as a key hub for the efficient movement of goods and services. Modern ports, airports, and road networks facilitate seamless connectivity within the region. Türkiye's growing economy attracts foreign investments, fostering the development of financial services and encouraging multinational companies to establish regional headquarters\u0000\u0000Keywords: Regional hub, Istanbul Finance Center, strategic location, logistics hub, service hub.\u0000JEL Codes: F10, F18, M20\u0000","PeriodicalId":517141,"journal":{"name":"Pressacademia","volume":"147 4","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-02-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139893435","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Financial sustainability of higher education system","authors":"Ali Eskinat, Suat Teker","doi":"10.17261/pressacademia.2023.1854","DOIUrl":"https://doi.org/10.17261/pressacademia.2023.1854","url":null,"abstract":"Purpose- Financial sustainability is vital for the higher education systems in the global competitive atmosphere of the world of 2020s. This paper reviews a comparative analysis between the budgets and expenditures of the Turkish and British higher education systems, beside a view on those of the OECD countries. This paper intends to clarify Turkish higher education system’s difficulties in financial sustainability to provide required academic standards due to increasing costs and number of students versus the economic strength of significant actors such as the United Kingdom in the globalized competition. For this reason, this paper advocates cost advantages provided by the application of effective online education model to acquire financial sustainability clarifying the rise of digital universities by the 2030s. Methodology-. The study employs a literature review aiming to perform a comparative analysis on the financial structures of Turkish and British higher education systems. Moreover, OECD data were also reflected. The aim was to identify the possible difficulties of Turkish higher education system in financial sustainability to provide required academic standards in the competitive global area and find a contemporary solution. Findings- The analysis reveals that the Turkish higher education system have disadvantages in providing financial sustainability under the conditions of increasing costs as well as number of students in order to reach the required standards in the global league. Notably, it is clearly seen that efective application of online education strategy is an opportunity to balance revenues and expenditures in this way. As a matter of the fact, the effect of digital transformation era and the attitude of Generation Z students have already prepared this atmosphere. Conclusion-. Governments highly financed higher education systems after 20th Century. However, financial problems emerged due to increasing number of students and increasing costs. Eventhough the budgets had continuously been increased, Turkish higher education system have realized lower expenditures in the OECD average. Problems in financial sustainability to provide required academic standards have clearly been noticed in the global competitive atmosphere while compared with the example of the United Kingdom. Over the Covid-19 crisis, universities successfully implemented hybrid education around the world increasing the effect of online systems forced by Generation Z’s perspective on embracing Digital Technologies. So, effective application of online education model appeared as a new opportunity for Turkish higher education system to provide financial sustainability decreasing costs and also efficiently compete in the global area. Indeed, blended learning in traditional universities and inevitable growth of digital higher education institutions named as University 5.0 will be seen after 2030s.\u0000\u0000Keywords: Higher education, university, financial sustainability, Turki","PeriodicalId":517141,"journal":{"name":"Pressacademia","volume":"19 5","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-02-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139897291","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Trading behavior by foreign and domestic investors","authors":"B. Sahin","doi":"10.17261/pressacademia.2023.1870","DOIUrl":"https://doi.org/10.17261/pressacademia.2023.1870","url":null,"abstract":"Purpose- Momentum, a well-known anomaly in financial markets, has garnered considerable attention from both academicians and market participants due to its implications for the market efficiency hypothesis and investment plans of investors. While momentum trading can yield excess returns, it is not a possible strategy for all investors because if one segment of investors employs a momentum trading strategy to profit from their trades, it requires another type of investor to take the opposite position to clear the market. \u0000Methodology- I investigate the momentum trading behavior of investors in different segments of Borsa İstanbul. Specifically, I focus on the momentum trading behavior among local and foreign investors and private and institutional investors. \u0000Findings- The results show that foreign investors’ stock holdings are positively associated with past returns inferring momentum trading while domestic investors are contrarians. Further analysis of domestic investors’ investing strategies reveals that the contrarian trading of domestic investors is mainly driven by individual investors.\u0000Conclusion- The results show that foreign investors’ stock holdings are positively associated with past returns inferring momentum trading while domestic investors are contrarians. Also, the contrarian trading of domestic investors is mainly driven by indvidual investors.\u0000\u0000Keywords: Momentum trading, investor behavior, foreign investor, domestic investor, panel data\u0000JEL Codes: G40, G11, G14\u0000","PeriodicalId":517141,"journal":{"name":"Pressacademia","volume":"174 ","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-02-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139893799","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Advancing financial reporting in the Western Balkans: a bibliometric analysis of AI and IFRS integration for sustainable accounting","authors":"Luan Vardari","doi":"10.17261/pressacademia.2023.1865","DOIUrl":"https://doi.org/10.17261/pressacademia.2023.1865","url":null,"abstract":"Purpose- This study aims to investigate the current state of financial reporting practices, focusing on integrating International Financial Reporting Standards (IFRS) and utilizing artificial intelligence (AI) for sustainable reporting in the Western Balkans.\u0000Methodology- Our study conducted a comprehensive bibliometric analysis of scholarly articles, conference papers, and research publications in relevant academic databases. The analysis encompassed a range of parameters, including publication trends, thematic content, and geographical distribution.\u0000Findings- Our bibliometric analysis revealed a growing interest in financial reporting, AI, IFRS, and sustainable reporting. Although the Western Balkans have made strides in adopting IFRS, challenges related to implementation and enforcement persist. Notably, research specific to this region is relatively scarce, highlighting the need for more context-specific studies. AI's potential in enhancing financial reporting and its application in sustainable reporting also emerged as promising areas of interest.\u0000Conclusion- This study underscores the importance of advancing financial reporting practices in the Western Balkans by integrating AI technologies and sustainable reporting in line with IFRS. Future research should focus on tailored investigations in the Western Balkans to bridge the existing research gaps and address the region's unique challenges. This research contributes to the region's economic development and global integration while furthering the understanding of financial reporting, AI, and sustainability reporting.\u0000\u0000Keywords: Financial reporting, AI, IFRS, sustainable reporting in accounting, Western Balkan, bibliometrics\u0000JEL Codes: M14, M41, G12, G34, \u0000","PeriodicalId":517141,"journal":{"name":"Pressacademia","volume":"215 ","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-02-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139893981","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Causality relationship between bank indices: an application on selected countries","authors":"Levent Sezal, Ahmet Serbetci","doi":"10.17261/pressacademia.2023.1850","DOIUrl":"https://doi.org/10.17261/pressacademia.2023.1850","url":null,"abstract":"Purpose- If price volatility in one stock exchange has an impact on other stock exchanges, this is called volatility spillover effect. Along with volatility, the change in returns in one stock exchange can also affect other stock exchanges in the short term. This situation is called interconnectedness, co-movement and furthermore, interdependence of stock markets. Therefore, this study aims to investigate the causality relationship between the bank indices of the 5 countries with the highest income (USA, China, Japan, Germany and India) in 2022 according to IMF data.\u0000Methodology- In the study, the daily frequency data set between 04/01/2018 -16/11/2023 was used. In the analysis phase, firstly, ADF and PP unit root tests were applied to determine whether the variables are stationary or not. Causality relationships between variables were tried to be determined by Granger Causality test.\u0000Findings- When the relationship between the bank indices of the 5 major economies subject to the research is analysed, a granger causality relationship was found between DAX variable and FTSE, TR INDIA and NIKKEI, between FTSE index and NASDAQ and NIKKEI, between TR INDIA and NIKKEI.\u0000Conclusion- Ülke borsası arasında bağımlılık ilişkilerinin kendini göstermesi ve konjonktür dalgalarının bu sürece etki etmesi, finans piyasasında alınan kararlar ile ortaya çıkan etkilerin diğer finans piyasasına etki edebileceğini ve bu doğrultuda da yatırımcı hareketlerini yönlendirebileceğini göstermesi bakımından oldukça önemlidir.\u0000\u0000Keywords: International stock exchanges, bank indices, Granger Causality Test\u0000JEL Codes: C22, G15, G20\u0000","PeriodicalId":517141,"journal":{"name":"Pressacademia","volume":"814 ","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-02-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139894035","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Financial literacy practices of public institutions: the case of Turkiye","authors":"Umit Tura","doi":"10.17261/pressacademia.2023.1876","DOIUrl":"https://doi.org/10.17261/pressacademia.2023.1876","url":null,"abstract":"Purpose- In today's world, where changes and transformations occur rapidly, we see new developments in the field of finance every day. Therefore, the importance of Financial Literacy has increased considerably today and it has started to take a large place in the strategies and development plans prepared by countries. The aim of this study is to investigate what kind of work is carried out by public institutions in Turkey in order to increase the financial literacy of the society and to raise financial awareness in the society.\u0000Methodology- In this study, document analysis, one of the qualitative research methods, was used to investigate what kind of studies were carried out by public institutions in Turkey on Financial Literacy.\u0000Findings- When academic studies conducted in the context of Financial Literacy are examined, it is seen that the financial literacy level of the society in Turkey is quite low, except for some basic financial concepts. When the education curriculum prepared by the Ministry of National Education of the Republic of Turkey is examined, it is seen that some financial issues are actually taught to all students from an early age.\u0000Conclusion- Especially in recent years, it is seen that institutions such as the Ministry of National Education, the Ministry of Treasury and Finance, the Ministry of Family and Social Policies, the Capital Markets Board, the Banking Regulation and Supervision Agency, the Central Bank of the Republic of Turkey and the Turkish Capital Markets Association have been working intensively in order to strengthen the financial awareness of the society.\u0000\u0000Keywords: Financial literacy, financial knowledge, financial behaviour\u0000JEL Codes: G53, I25, G51, \u0000","PeriodicalId":517141,"journal":{"name":"Pressacademia","volume":"71 6","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-02-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139894174","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Analysis of the relationship between sustainability scores and financial performance of the companies in the BIST sustainability index","authors":"Mete Bumin, Ayşegül Ertuğrul","doi":"10.17261/pressacademia.2023.1851","DOIUrl":"https://doi.org/10.17261/pressacademia.2023.1851","url":null,"abstract":"Purpose- The inclusion of companies in the BIST Sustainability Index and the disclosure of sustainability scores provide not only benefits in terms of making companies’ sustainability practices better known by stakeholders and the public, but also may increase stock returns. Therefore, this study aims to analyse the relationship between sustainability scores and financial performance of companies in the BIST Sustainability Index.\u0000Methodology- In order to analyse the relationship between the sustainability scores of 62 companies in the BIST Sustainability Index and their financial performances, the sustainability scores of the companies and the companies' firm value, return on assets and stock rate of return as the financial performance indicators is examined by multiple regression analysis method over the data of 2022.\u0000Findings- A negative relationship was found between the sustainability scores of the companies and the firm value, while no significant relationship was found between the sustainability scores and the other financial performance indicators, namely return on assets and stock rate of return.\u0000Conclusion- The reason for the negative relationship between the sustainability scores of the companies and the firm value may stem from the investors’ perception that the environmental investments to be made by the the company will increase the company's costs, which will have a negative impact on the company's financial statements and thus on the stock return.\u0000\u0000Keywords: Sustainability, sustainability scores, financial performance, multiple regression analysis.\u0000JEL Codes: E44, G11, G32\u0000","PeriodicalId":517141,"journal":{"name":"Pressacademia","volume":"22 7","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-02-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139896878","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Trading behavior by foreign and domestic investors","authors":"B. Sahin","doi":"10.17261/pressacademia.2023.1870","DOIUrl":"https://doi.org/10.17261/pressacademia.2023.1870","url":null,"abstract":"Purpose- Momentum, a well-known anomaly in financial markets, has garnered considerable attention from both academicians and market participants due to its implications for the market efficiency hypothesis and investment plans of investors. While momentum trading can yield excess returns, it is not a possible strategy for all investors because if one segment of investors employs a momentum trading strategy to profit from their trades, it requires another type of investor to take the opposite position to clear the market. \u0000Methodology- I investigate the momentum trading behavior of investors in different segments of Borsa İstanbul. Specifically, I focus on the momentum trading behavior among local and foreign investors and private and institutional investors. \u0000Findings- The results show that foreign investors’ stock holdings are positively associated with past returns inferring momentum trading while domestic investors are contrarians. Further analysis of domestic investors’ investing strategies reveals that the contrarian trading of domestic investors is mainly driven by individual investors.\u0000Conclusion- The results show that foreign investors’ stock holdings are positively associated with past returns inferring momentum trading while domestic investors are contrarians. Also, the contrarian trading of domestic investors is mainly driven by indvidual investors.\u0000\u0000Keywords: Momentum trading, investor behavior, foreign investor, domestic investor, panel data\u0000JEL Codes: G40, G11, G14\u0000","PeriodicalId":517141,"journal":{"name":"Pressacademia","volume":"32 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-02-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139897246","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Monetary momentum and risk management in stock market","authors":"E. Kılıç, Sitki Sonmezer","doi":"10.17261/pressacademia.2023.1877","DOIUrl":"https://doi.org/10.17261/pressacademia.2023.1877","url":null,"abstract":"Purpose- This study aims to investigate the relationship between monetary interest rate decisions, liquidity mechanisms and risk management issues. As a core interest the significance of a structural change in the data around the FOMC meetings is analyzed. By the help of continuous time models we analyze the kind of dynamics, which can be observed in the stock returns, i.e. conditional volatilities and jumps. A further central interest is given to investment decisions and risk management issues. This encompasses the elaboration of the hedging strategies to achieve higher performance.\u0000Methodology- The study employs GARCH-Ito and GARCH-Ito-Jump models to analyze the stock market returns and their related volatilities on the day of a FED interest decision announcement. The continuous time GARCH model setting allows to model stock market returns with a high flexibility, therefore these models are abled to capture jump dynamics in the stock returns. \u0000Findings- The analysis reveals that persistence in conditional volatilities change according to alternative stocks. These stocks can be classified according to alternative market capitalization sizes. Mega market capitalization stocks are better governed by no jump GARCH-Ito models regardless the monetary policy changes, that is, changes in interest rates or not.\u0000Conclusion- Based upon the analysis, it may be concluded that risk management applications effectively might perform under the consideration of stock types in terms of market sizes. The persistence in the conditional volatility massively decreases if a jump component is introduced into the model. Since most of the mega market cap stocks perform better without a jump part component, it might be conjectured that persistence in the conditional volatility for mega cap stocks play a more important role compared to large cap stocks. Regardless the case whether there is an interest rate change or not, the persistence in conditional volatility remains in mega cap stocks, and thus, these stocks are prone to the involvement of prices jumps. \u0000\u0000Keywords: Monetary policy, risk management, jump detection, investment decisions\u0000JEL Codes: C22, E49, G11\u0000","PeriodicalId":517141,"journal":{"name":"Pressacademia","volume":"16 6","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-02-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139897297","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Cryptocurrency interest in geographical regions with high unemployment rates","authors":"Elif Bezirgan","doi":"10.17261/pressacademia.2023.1844","DOIUrl":"https://doi.org/10.17261/pressacademia.2023.1844","url":null,"abstract":"Purpose- In regions with high unemployment rates, individuals often face economic uncertainty and may seek alternatives to traditional financial systems. In such circumstances, some individuals may turn to alternative investments and financial instruments, with cryptocurrencies such as Bitcoin being among them. The value of these cryptocurrencies is often volatile due to their speculative nature, which can lead investors to take on more significant risks. While this situation can result in substantial gains, it can also lead to significant financial losses.\u0000The primary use of cryptocurrencies is generally for investment purposes. Since cryptocurrencies are digital, they operate entirely in a virtual environment. The loss or theft of the digital password in the virtual space means the loss of the wallet. Security in cryptocurrencies is very weak. The lack of government guarantees and legal infrastructure globally poses certain threats to investors, making cryptocurrencies carry a higher risk compared to other investment instruments.\u0000This study will investigate the regional relationship between cryptocurrency interest and unemployment rates. The aim is to determine whether individuals living in geographical areas with high unemployment rates show more interest in cryptocurrencies compared to those in other geographical regions.\u0000Methodology- In line with the research objective, Google search engine data for the past 10 years has been analyzed using content analysis methodology. A query has been conducted to determine in which regions of Turkey cryptocurrency names are most frequently searched, and a comparison has been made on a provincial level across all 81 provinces. Additionally, considering the unemployment data provided by the Turkish Statistical Institute (TUIK), regions with high and low unemployment rates have been identified. Subsequently, an investigation has been carried out to determine whether there is any correlation between regional Google searches and unemployment rates in these areas.\u0000Findings- When examining the findings from the perspective of unemployment, it has been observed that the regions where cryptocurrency names are most frequently searched align with areas having the highest unemployment rates, while the least searched areas correspond to regions with lower unemployment rates. Among the 10 provinces with the highest unemployment rates, 8 of them are included in the list of 10 provinces with the highest Bitcoin search frequency. Similarly, 8 out of 10 provinces with the lowest employment rates are also listed among the 10 provinces with the highest Bitcoin search frequency. Furthermore, among the 10 provinces with the lowest per capita gross domestic product (GDP), 7 of them are included in the list of 10 provinces with the highest Bitcoin search frequency.\u0000Conclusion- As a result of the relationship analyses conducted in the research, it has been observed that in Turkey, regions with high unemployment rates, low employm","PeriodicalId":517141,"journal":{"name":"Pressacademia","volume":"30 6","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-02-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139897333","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}