Pub Date : 2024-02-01DOI: 10.17261/pressacademia.2023.1846
Gabor Miklos
Purpose - The purpose of this study is to anaylse the trade and economic relations of European Union member states which are important gate of EU trade with third countries. This research highlights the shifting of the trade routes and economic geographic process. What kind of impacts are there in EU countries that a significant part of EU-Chine trade has been moving from vessels to freight trains or to combined, overland-maritime transportation. It has partly taken out the former China – Rotterdam/Hamburg maritime way. This paper is analysing the role of Port of Piraeus in this process as the pretty new but very important port for the Chinese COSCO maritime transportation company and on other hand how does the new structure change the revenues for the members in this situation. Methodology - The study employs the so-called collection cost. It is an important revenue for the member states. It comes from the Traditional own resources, it is 20 percent of the tariffs. It remains in the budget of EU member states and only 80 percent goes to the Brussels budget. The old members especially Netherlands, Belgium and Germany want to protect their own current position and share in the integration trade with third/external partners. It means that these countries can handle the tariff administration and get the mentioned 20 percent amount. Findings - The analysis reveals that the new EU members with high potential in international trade would like to recut the “trade-cake” to receive higher benefits from it due to the mentioned collection cost or the value-added-tax related to logistics and manufacturing industries. Conclusion - Based upon the analysis, it may be concluded that every member state can increase the profit from the collection cost and value-added-tax and on other hand they can decrease the direct GNI-based contribution to EU’s budget due to a better position in international trade. Keywords: Collection cost, one belt one road, tariffs, Port of Rotterdam, Port of Piraeus, Port of Hamburg JEL Codes: F15, H54, N74
{"title":"Relations between the Central-European trade routes and revenues of EU members","authors":"Gabor Miklos","doi":"10.17261/pressacademia.2023.1846","DOIUrl":"https://doi.org/10.17261/pressacademia.2023.1846","url":null,"abstract":"Purpose - The purpose of this study is to anaylse the trade and economic relations of European Union member states which are important gate of EU trade with third countries. This research highlights the shifting of the trade routes and economic geographic process. What kind of impacts are there in EU countries that a significant part of EU-Chine trade has been moving from vessels to freight trains or to combined, overland-maritime transportation. It has partly taken out the former China – Rotterdam/Hamburg maritime way.\u0000This paper is analysing the role of Port of Piraeus in this process as the pretty new but very important port for the Chinese COSCO maritime transportation company and on other hand how does the new structure change the revenues for the members in this situation.\u0000Methodology - The study employs the so-called collection cost. It is an important revenue for the member states. It comes from the Traditional own resources, it is 20 percent of the tariffs. It remains in the budget of EU member states and only 80 percent goes to the Brussels budget. The old members especially Netherlands, Belgium and Germany want to protect their own current position and share in the integration trade with third/external partners. It means that these countries can handle the tariff administration and get the mentioned 20 percent amount.\u0000Findings - The analysis reveals that the new EU members with high potential in international trade would like to recut the “trade-cake” to receive higher benefits from it due to the mentioned collection cost or the value-added-tax related to logistics and manufacturing industries. \u0000Conclusion - Based upon the analysis, it may be concluded that every member state can increase the profit from the collection cost and value-added-tax and on other hand they can decrease the direct GNI-based contribution to EU’s budget due to a better position in international trade.\u0000\u0000Keywords: Collection cost, one belt one road, tariffs, Port of Rotterdam, Port of Piraeus, Port of Hamburg\u0000JEL Codes: F15, H54, N74\u0000","PeriodicalId":517141,"journal":{"name":"Pressacademia","volume":"14 7","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-02-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139897702","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}
Pub Date : 2024-02-01DOI: 10.17261/pressacademia.2023.1873
Yunis Dede, Sadettin Haluk Çitçi, H. Yanıkkaya
Purpose- How individuals make saving/investment decisions and they are subject to learning processes are important questions in economics. Behavioral economics and finance literature tell us that individuals can deviate from bayesian decisions and the personal experiences can be effective in decision making. “Reinforcement learning” provides a framework for individual investors who are weighing on strategies successful and avoid strategies unsuccessful in which they experience. In this study, we investigate the effect of past experiences on individuals' retirement savings/investment decisions and whether individual investors are reinforcement learner. For this purpose, we examine individual contracts in the annual micro panel dataset obtained from the Pension Monitoring Center in Individual Pension System in Turkey. Methodology- Essentially, we assume that individuals' retirement saving/investment decisions are influenced by returns and variances (represents the risk level) of their avaliable portfolio as well as their time horizon, spending habits, retirement goals, risk tolerance and demographic characteristics. In this context, we estimate a linear model by including returns and variances in order to investigate how much sensitive individual investors are to returns and variances of their portfolio. Moreover, we add lagged returns and variances to our econometric setup to examine whether they are reinforcement learner. After that, we conduct a before-after analysis by looking at the dataset from 3-year window to analyze the impact of the 2013 state subsidy reform on reinforcement learning of individual investors. Findings- Similar to individuals' age, gender and education level, portfolio returns and variances also have a statistically significant effect on the contributions paid. Increases in portfolio returns affect the contributions paid positively, while increases in portfolio variance affect it negatively. As an indicator of reinforcement learning, respectively, lagged returns and variances have a significant positive and negative effect like the same year returns and variances of individual investors. According to this result, individual investors weigh on successful strategies and avoid unsuccessful strategies they have experienced. Increases in variances and lagged variances of individuals' portfolios have a larger negative effect compared to returns. Additionally, looking at the 3-year window, we report that the reinforcement learning of individual investors has strengthened after the 2013 state subsidy reform. Conclusion- We show that individual investors in IPS in Turkey exhibit reinforcement learning when making retirement savings/investment decisions. High return or low variance obtained in previous periods causes individuals to pay more contributions paid in the next period. This result reveals that individuals benefit from their past experiences when making logical and optimized decisions based on their avaliable knowledge and e
{"title":"Reinforcement learning in individual pension system: the case of Turkey","authors":"Yunis Dede, Sadettin Haluk Çitçi, H. Yanıkkaya","doi":"10.17261/pressacademia.2023.1873","DOIUrl":"https://doi.org/10.17261/pressacademia.2023.1873","url":null,"abstract":"Purpose- How individuals make saving/investment decisions and they are subject to learning processes are important questions in economics. Behavioral economics and finance literature tell us that individuals can deviate from bayesian decisions and the personal experiences can be effective in decision making. “Reinforcement learning” provides a framework for individual investors who are weighing on strategies successful and avoid strategies unsuccessful in which they experience. In this study, we investigate the effect of past experiences on individuals' retirement savings/investment decisions and whether individual investors are reinforcement learner. For this purpose, we examine individual contracts in the annual micro panel dataset obtained from the Pension Monitoring Center in Individual Pension System in Turkey.\u0000Methodology- Essentially, we assume that individuals' retirement saving/investment decisions are influenced by returns and variances (represents the risk level) of their avaliable portfolio as well as their time horizon, spending habits, retirement goals, risk tolerance and demographic characteristics. In this context, we estimate a linear model by including returns and variances in order to investigate how much sensitive individual investors are to returns and variances of their portfolio. Moreover, we add lagged returns and variances to our econometric setup to examine whether they are reinforcement learner. After that, we conduct a before-after analysis by looking at the dataset from 3-year window to analyze the impact of the 2013 state subsidy reform on reinforcement learning of individual investors.\u0000Findings- Similar to individuals' age, gender and education level, portfolio returns and variances also have a statistically significant effect on the contributions paid. Increases in portfolio returns affect the contributions paid positively, while increases in portfolio variance affect it negatively. As an indicator of reinforcement learning, respectively, lagged returns and variances have a significant positive and negative effect like the same year returns and variances of individual investors. According to this result, individual investors weigh on successful strategies and avoid unsuccessful strategies they have experienced. Increases in variances and lagged variances of individuals' portfolios have a larger negative effect compared to returns. Additionally, looking at the 3-year window, we report that the reinforcement learning of individual investors has strengthened after the 2013 state subsidy reform.\u0000Conclusion- We show that individual investors in IPS in Turkey exhibit reinforcement learning when making retirement savings/investment decisions. High return or low variance obtained in previous periods causes individuals to pay more contributions paid in the next period. This result reveals that individuals benefit from their past experiences when making logical and optimized decisions based on their avaliable knowledge and e","PeriodicalId":517141,"journal":{"name":"Pressacademia","volume":"105 ","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-02-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139893814","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}
Purpose- Central banks serve as institutions responsible for executing monetary policy in countries, with the primary objective of managing the money supply and ensuring price stability in the economy. These institutions formulate and implement monetary policies, controlling interest rates, maintaining price stability, managing exchange rates, and overseeing the banking sector. Through the use of both traditional and modern tools, such as policy interest rates, reserve requirements, rediscount policies, and open market operations, central banks aim to uphold stability in the economy and financial system. The economic literature extensively explores the theoretical and empirical effects of central banks' expansive and contractionary policies on inflation. This study specifically investigates the practices of selected country central banks regarding monetary policy, with a focus on understanding the relationship between money supply and inflation. The objective is to unveil the impacts of these policies on countries' macroeconomic variables and identify determinants influencing the selection of effective policies and tools in central banks' pursuit of price stability-oriented monetary policy practices. Methodology- One of the tools central banks employ to intervene in the market is the manipulation of the money supply, influencing macroeconomic variables through expansive and contractionary policies. This study analyzes the impact of central banks' monetary policies using PanelVAR analysis for the period 2005–2022. The initial model features inflation as the dependent variable, while independent variables include money supply, policy interest rates, growth, current account deficit, budget deficit, and unemployment. These variables are modeled as annual percentage changes, with the money supply variable included as a level value after logarithmic transformation. Subsequent models are constructed with each independent variable as the dependent variable, adhering to the assumptions of VAR models. To address the stationarity condition of unit roots, cross-sectional dependencies in panel data series are tested. Following the identification of cross-sectional dependency issues, second-generation unit root tests are applied. After stationary analyses, VAR analysis is conducted, cointegration vectors are identified, and error correction models are established for further analysis. Finally, impact response analysis determines the size of the effects of the macroeconomic variables used in the analysis, and Granger causality analysis is applied to ascertain the direction of causality. Findings- In the model for controlling the money supply, the alternative hypothesis is accepted, supporting a statistically significant relationship or a cause-and-effect relationship among policy interest rate, growth, inflation, unemployment rate, current account deficit, and budget deficit variables. In the analysis where inflation is the dependent variable, long-term cointeg
{"title":"The relationship between money supply and inflation: analysis with PANELVAR approach","authors":"Esengul Ozdemir Altinisik, Basak Taninmis Yucememis","doi":"10.17261/pressacademia.2023.1855","DOIUrl":"https://doi.org/10.17261/pressacademia.2023.1855","url":null,"abstract":"Purpose- Central banks serve as institutions responsible for executing monetary policy in countries, with the primary objective of managing the money supply and ensuring price stability in the economy. These institutions formulate and implement monetary policies, controlling interest rates, maintaining price stability, managing exchange rates, and overseeing the banking sector. Through the use of both traditional and modern tools, such as policy interest rates, reserve requirements, rediscount policies, and open market operations, central banks aim to uphold stability in the economy and financial system. The economic literature extensively explores the theoretical and empirical effects of central banks' expansive and contractionary policies on inflation. This study specifically investigates the practices of selected country central banks regarding monetary policy, with a focus on understanding the relationship between money supply and inflation. The objective is to unveil the impacts of these policies on countries' macroeconomic variables and identify determinants influencing the selection of effective policies and tools in central banks' pursuit of price stability-oriented monetary policy practices.\u0000Methodology- One of the tools central banks employ to intervene in the market is the manipulation of the money supply, influencing macroeconomic variables through expansive and contractionary policies. This study analyzes the impact of central banks' monetary policies using PanelVAR analysis for the period 2005–2022. The initial model features inflation as the dependent variable, while independent variables include money supply, policy interest rates, growth, current account deficit, budget deficit, and unemployment. These variables are modeled as annual percentage changes, with the money supply variable included as a level value after logarithmic transformation. Subsequent models are constructed with each independent variable as the dependent variable, adhering to the assumptions of VAR models. To address the stationarity condition of unit roots, cross-sectional dependencies in panel data series are tested. Following the identification of cross-sectional dependency issues, second-generation unit root tests are applied. After stationary analyses, VAR analysis is conducted, cointegration vectors are identified, and error correction models are established for further analysis. Finally, impact response analysis determines the size of the effects of the macroeconomic variables used in the analysis, and Granger causality analysis is applied to ascertain the direction of causality.\u0000Findings- In the model for controlling the money supply, the alternative hypothesis is accepted, supporting a statistically significant relationship or a cause-and-effect relationship among policy interest rate, growth, inflation, unemployment rate, current account deficit, and budget deficit variables. In the analysis where inflation is the dependent variable, long-term cointeg","PeriodicalId":517141,"journal":{"name":"Pressacademia","volume":"89 8","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-02-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139893803","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}
Pub Date : 2024-02-01DOI: 10.17261/pressacademia.2023.1852
Halil Tunali, Duygu Kalkay
Purpose - In the aftermath of the 2008 global financial crisis, central banks have resorted to macro discretionary monetary policies in order to prevent the risks that the fragility of macroeconomic indicators in national economies may pose on financial stability. Accordingly, in December 2021, the CBRT initiated a comprehensive monetary policy process that will provide long-term and permanent returns in the fight against high inflation and high exchange rates, and introduced the "Currency Protected Deposit" instrument to encourage and support real persons to make their investment preferences in TL. The liraization process and exchange rate-protected deposits are aimed to make a lasting contribution to price stability in the medium term. In this study, the purpose of the Exchange Rate Protected Deposit (ERD) scheme and its impact on macroeconomic indicators will be evaluated for the 2021-2023 period. Methodology - After explaining the implementation, characteristics and the need for the KKM, the impact of the utilization rate of the KKM on the exchange rate and interest rates in the December 2021-December 2023 period is evaluated.. Findings - With the KKM implementation, which aims to contribute to strengthening macro financial stability by supporting Turkish lira time deposits, the utilization rate of the KKM is seen to have contributed to the strengthening of the monetary transmission mechanism through the increase in the policy rate, the increase in the demand for Turkish lira instruments, and the rise in loan and deposit rates together. Turkish lira deposits are on the rise while FX-protected deposits are on the decline. Conclusion - It is observed that the KKM' implementation contributed to the lira appreciation process and partially contributed to the recovery in exchange rates between December 2021 and July 2023. Keywords: Currency protected deposit, macroprudential monetary policy, exchange rate JEL Codes: H30, E52, F31
{"title":"Exchange rate hedged deposit account as a macroprudential monetary policy instrument","authors":"Halil Tunali, Duygu Kalkay","doi":"10.17261/pressacademia.2023.1852","DOIUrl":"https://doi.org/10.17261/pressacademia.2023.1852","url":null,"abstract":"Purpose - In the aftermath of the 2008 global financial crisis, central banks have resorted to macro discretionary monetary policies in order to prevent the risks that the fragility of macroeconomic indicators in national economies may pose on financial stability. Accordingly, in December 2021, the CBRT initiated a comprehensive monetary policy process that will provide long-term and permanent returns in the fight against high inflation and high exchange rates, and introduced the \"Currency Protected Deposit\" instrument to encourage and support real persons to make their investment preferences in TL. The liraization process and exchange rate-protected deposits are aimed to make a lasting contribution to price stability in the medium term. In this study, the purpose of the Exchange Rate Protected Deposit (ERD) scheme and its impact on macroeconomic indicators will be evaluated for the 2021-2023 period.\u0000Methodology - After explaining the implementation, characteristics and the need for the KKM, the impact of the utilization rate of the KKM on the exchange rate and interest rates in the December 2021-December 2023 period is evaluated.. \u0000Findings - With the KKM implementation, which aims to contribute to strengthening macro financial stability by supporting Turkish lira time deposits, the utilization rate of the KKM is seen to have contributed to the strengthening of the monetary transmission mechanism through the increase in the policy rate, the increase in the demand for Turkish lira instruments, and the rise in loan and deposit rates together. Turkish lira deposits are on the rise while FX-protected deposits are on the decline.\u0000Conclusion - It is observed that the KKM' implementation contributed to the lira appreciation process and partially contributed to the recovery in exchange rates between December 2021 and July 2023.\u0000\u0000Keywords: Currency protected deposit, macroprudential monetary policy, exchange rate\u0000JEL Codes: H30, E52, F31\u0000","PeriodicalId":517141,"journal":{"name":"Pressacademia","volume":"48 8","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-02-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139893929","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}
Pub Date : 2024-02-01DOI: 10.17261/pressacademia.2023.1854
Ali Eskinat, Suat Teker
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. Keywords: Higher education, university, financial sustainability, Turki
目的--在 2020 年代的全球竞争环境中，财政可持续性对高等教育系统至关重要。本文对土耳其和英国高等教育系统的预算和支出进行了比较分析，并对经合组织国家的预算和支出进行了分析。本文旨在阐明土耳其高等教育系统在提供所需的学术标准方面的财政可持续性困难，原因是成本和学生人数不断增加，而英国等重要行为体在全球化竞争中的经济实力则不断增强。为此，本文主张通过应用有效的在线教育模式来获得成本优势，以实现财务可持续性，从而明确数字大学在 2030 年代的崛起。研究方法本研究采用文献综述法，旨在对土耳其和英国高等教育系统的财务结构进行比较分析。此外，还参考了经合组织的数据。目的是确定土耳其高等教育体系在财务可持续性方面可能遇到的困难，以便在竞争激烈的全球领域提供所需的学术标准，并找到当代的解决方案。研究结果--分析表明，土耳其高等教育系统在成本和学生人数不断增加的情况下，在提供财务可持续性方面存在劣势，难以达到全球联盟所要求的标准。值得注意的是，可以清楚地看到，有效应用在线教育战略是以这种方式平衡收支的一个机会。事实上，数字化转型时代的影响和 Z 世代学生的态度已经为这种氛围做好了准备。结论20 世纪后，各国政府大力资助高等教育系统。然而，由于学生人数的增加和成本的增加，出现了财政问题。尽管预算不断增加，土耳其高等教育系统的支出却低于经合组织的平均水平。与英国的例子相比，在全球竞争的氛围中，提供所需的学术标准的财政可持续性问题已被清楚地注意到。在 Covid-19 危机期间，世界各地的大学都成功实施了混合教育，并在 Z 世代拥抱数字技术的观点的推动下提高了在线系统的效果。因此，在线教育模式的有效应用为土耳其高等教育系统提供了一个新的机遇，使其在降低成本的同时实现财务可持续性，并有效地参与全球竞争。事实上，传统大学中的混合式学习以及被称为大学 5.0 的数字化高等教育机构的必然发展将在 2030 年代之后出现：高等教育、大学、财务可持续性、土耳其、英国、在线教育JEL Codes：I22, I23, M10, M21
{"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":"348 ","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-02-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139893973","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}
Pub Date : 2024-02-01DOI: 10.17261/pressacademia.2023.1862
M. Alqudah, Laura Sierra‐García, M. García-Benau
Purpose- This study aims to address the existing gaps in the body of knowledge on sustainable technologies in the Environmental, Social, and Governance (ESG) field. It achieves this by employing a rigorous systematic review methodology and using VOSviewer and Biblioshiny software to analyze a comprehensive dataset of 1,603 papers from the ABS 2023 journal list, covering various knowledge domains. Methodology- This research undertakes a systematic analysis of the multifaceted ESG domain using a cluster-based approach rooted in bibliographic coupling analysis. This methodology reveals intricate network associations within distinct clusters of ESG literature. The study identifies four significant literature clusters: sustainable financial technology (FinTech), sustainable artificial intelligence (AI), sustainable big data, and sustainable cryptocurrency. Findings- The analysis conducted in this study reveals four distinct clusters of literature within the ESG field, shedding light on the interconnectedness of these areas. The identified clusters are sustainable financial technology (FinTech), sustainable artificial intelligence (AI), sustainable big data, and sustainable cryptocurrency. Each cluster represents a specific facet of ESG and provides valuable insights into its individual development and interrelationships. Conclusion- This research offers valuable insights into the state of knowledge in the ESG field, providing a well-structured understanding of the ESG landscape. It not only highlights the key clusters of literature but also offers a qualitative analysis, providing researchers with a roadmap for exploring research opportunities and specific areas within the ESG literature. By identifying these clusters and their relationships, this study contributes to the advancement of sustainable technologies within the ESG domain and sets the stage for future research in this evolving field. Keywords: ESG, sustainability, financial technology, artificial intelligence, big data, cryptocurrency, Cluster analysis. JEL Codes: G34, G38, G39
{"title":"ESG sustainable technologies literature review using cluster-based methods","authors":"M. Alqudah, Laura Sierra‐García, M. García-Benau","doi":"10.17261/pressacademia.2023.1862","DOIUrl":"https://doi.org/10.17261/pressacademia.2023.1862","url":null,"abstract":"Purpose- This study aims to address the existing gaps in the body of knowledge on sustainable technologies in the Environmental, Social, and Governance (ESG) field. It achieves this by employing a rigorous systematic review methodology and using VOSviewer and Biblioshiny software to analyze a comprehensive dataset of 1,603 papers from the ABS 2023 journal list, covering various knowledge domains.\u0000Methodology- This research undertakes a systematic analysis of the multifaceted ESG domain using a cluster-based approach rooted in bibliographic coupling analysis. This methodology reveals intricate network associations within distinct clusters of ESG literature. The study identifies four significant literature clusters: sustainable financial technology (FinTech), sustainable artificial intelligence (AI), sustainable big data, and sustainable cryptocurrency.\u0000Findings- The analysis conducted in this study reveals four distinct clusters of literature within the ESG field, shedding light on the interconnectedness of these areas. The identified clusters are sustainable financial technology (FinTech), sustainable artificial intelligence (AI), sustainable big data, and sustainable cryptocurrency. Each cluster represents a specific facet of ESG and provides valuable insights into its individual development and interrelationships.\u0000Conclusion- This research offers valuable insights into the state of knowledge in the ESG field, providing a well-structured understanding of the ESG landscape. It not only highlights the key clusters of literature but also offers a qualitative analysis, providing researchers with a roadmap for exploring research opportunities and specific areas within the ESG literature. By identifying these clusters and their relationships, this study contributes to the advancement of sustainable technologies within the ESG domain and sets the stage for future research in this evolving field.\u0000Keywords: ESG, sustainability, financial technology, artificial intelligence, big data, cryptocurrency, Cluster analysis.\u0000JEL Codes: G34, G38, G39\u0000","PeriodicalId":517141,"journal":{"name":"Pressacademia","volume":"355 ","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-02-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139894103","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}
Pub Date : 2024-02-01DOI: 10.17261/pressacademia.2023.1843
Zekeriya Bildik, K. Tokmakçıoğlu
Purpose - This article aims to establish a correlation between the valuation potential of companies listed on the Borsa Istanbul 30 index and their enduring competitive advantage, focusing on microeconomic Key Performance Indicators (KPIs) and corporate governance dimensions. Methodology - The study conducted an extensive analysis of the financial statements of BIST 30 companies spanning three years. Employing a unique approach utilizing Triangular Spherical Fuzzy Sets, it assessed the significance of these KPIs and corporate dimensions, chosen for their capacity to handle imprecise data. Three experts were consulted over three years to assign importance scores to each indicator, which were then used to calculate cumulative scores for individual stocks. Findings - The application of the Triangular Spherical Fuzzy Sets method provided a comprehensive understanding of these indicators, ena-bling a nuanced evaluation of the cumulative score for each stock. Notably, a clear distinction emerged between service and manufacturing companies, suggesting a potential glass ceiling effect that favors production-oriented enterprises. The observed patterns in certain stocks aligned with the framework developed in this study. Conclusion - This study illustrates the use of fuzzy logic in evaluating stock valuation potential, revealing insights into their sustained growth prospects. Aligned with Warren Buffett's value investing principles, it advances modeling approaches within the Turkish public stock exchange. Offering a unique perspective on BIST 30 stocks' long-term valuation potential, it provides valuable insights for investors, stakeholders, and analysts in the dynamic finance landscape. Emphasizing the understanding of companies' enduring competitive strength in an evolving market is pivotal. Keywords: Value investing, triangular spherical fuzzy sets, long term competitive advantage, corporate governance.
{"title":"Tapping into long term value: a comprehensive overview of BIST 30 index companies future potential","authors":"Zekeriya Bildik, K. Tokmakçıoğlu","doi":"10.17261/pressacademia.2023.1843","DOIUrl":"https://doi.org/10.17261/pressacademia.2023.1843","url":null,"abstract":"Purpose - This article aims to establish a correlation between the valuation potential of companies listed on the Borsa Istanbul 30 index and their enduring competitive advantage, focusing on microeconomic Key Performance Indicators (KPIs) and corporate governance dimensions.\u0000Methodology - The study conducted an extensive analysis of the financial statements of BIST 30 companies spanning three years. Employing a unique approach utilizing Triangular Spherical Fuzzy Sets, it assessed the significance of these KPIs and corporate dimensions, chosen for their capacity to handle imprecise data. Three experts were consulted over three years to assign importance scores to each indicator, which were then used to calculate cumulative scores for individual stocks.\u0000Findings - The application of the Triangular Spherical Fuzzy Sets method provided a comprehensive understanding of these indicators, ena-bling a nuanced evaluation of the cumulative score for each stock. Notably, a clear distinction emerged between service and manufacturing companies, suggesting a potential glass ceiling effect that favors production-oriented enterprises. The observed patterns in certain stocks aligned with the framework developed in this study.\u0000Conclusion - This study illustrates the use of fuzzy logic in evaluating stock valuation potential, revealing insights into their sustained growth prospects. Aligned with Warren Buffett's value investing principles, it advances modeling approaches within the Turkish public stock exchange. Offering a unique perspective on BIST 30 stocks' long-term valuation potential, it provides valuable insights for investors, stakeholders, and analysts in the dynamic finance landscape. Emphasizing the understanding of companies' enduring competitive strength in an evolving market is pivotal.\u0000\u0000Keywords: Value investing, triangular spherical fuzzy sets, long term competitive advantage, corporate governance.\u0000","PeriodicalId":517141,"journal":{"name":"Pressacademia","volume":"127 4","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-02-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139894140","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}
Pub Date : 2024-02-01DOI: 10.17261/pressacademia.2023.1874
Yazan Abdelmajid Abu Huson, Laura Sierra‐García, M. García-Benau, N. Aljawarneh
Purpose- The increasing prevalence of cloud computing and the rapid proliferation of artificial intelligence technologies have opened up novel prospects for enhancing auditing methodologies. This research aims to scrutinize the consequences of incorporating cloud-based artificial intelligence (CBAI) in auditing, focusing on its implications for audit clients, auditors, and the overall audit process. Methodology- A method of quantitative research was utilized in this study, where 322 questionnaires were distributed to external auditors in Jordan. The objective was to collect information on the potential enhancements brought about by cloud-based artificial intelligence in the auditing field. The study employed convenience random sampling, a technique involving the collection of data from readily available members of the population, which, in this context, refers to external audit offices in Jordan. Jordan has a total of 454 audit offices with a diverse range of auditors, including partner-owner auditors, assistant auditors, and certified auditors. The analysis of the gathered data was conducted using SmartPLS software, which employs structural equation modeling (SEM). Findings- The study's outcomes reveal the potential for cost savings associated with the adoption of CBAI, as well as the streamlining of audit procedures and the enhancement of overall efficiency. Moreover, the research observes the transformation of auditors' roles, with a shift towards a greater focus on analytical and advisory responsibilities, departing from traditional manual tasks. These findings underscore the potential advantages for audit clients, auditors, and the audit process, underscoring the significance of embracing these technologies to advance the auditing profession in the digital age. Conclusion- The study investigates how CBAI influences audit quality and efficiency through a thorough examination of data sourced from a sample of external auditors operating within the context of Jordan. Additionally, it delves into the significant advancements that CBAI can introduce to the auditing field, encompassing its potential for data storage and analysis, the improvement of communication between auditors and clients, the adoption of innovative audit techniques, and the shift from manual to digital auditing methodologies. Keywords: Cloud-based artificial intelligence, Auditing, Auditors, Cloud computing, Artificial Intelligence, Audit quality. JEL Codes: O30, O33, O35
{"title":"Empirircal investigation into y-the integration of cloud-based artificial intelligence in auditing","authors":"Yazan Abdelmajid Abu Huson, Laura Sierra‐García, M. García-Benau, N. Aljawarneh","doi":"10.17261/pressacademia.2023.1874","DOIUrl":"https://doi.org/10.17261/pressacademia.2023.1874","url":null,"abstract":"Purpose- The increasing prevalence of cloud computing and the rapid proliferation of artificial intelligence technologies have opened up novel prospects for enhancing auditing methodologies. This research aims to scrutinize the consequences of incorporating cloud-based artificial intelligence (CBAI) in auditing, focusing on its implications for audit clients, auditors, and the overall audit process.\u0000Methodology- A method of quantitative research was utilized in this study, where 322 questionnaires were distributed to external auditors in Jordan. The objective was to collect information on the potential enhancements brought about by cloud-based artificial intelligence in the auditing field. The study employed convenience random sampling, a technique involving the collection of data from readily available members of the population, which, in this context, refers to external audit offices in Jordan. Jordan has a total of 454 audit offices with a diverse range of auditors, including partner-owner auditors, assistant auditors, and certified auditors. The analysis of the gathered data was conducted using SmartPLS software, which employs structural equation modeling (SEM).\u0000Findings- The study's outcomes reveal the potential for cost savings associated with the adoption of CBAI, as well as the streamlining of audit procedures and the enhancement of overall efficiency. Moreover, the research observes the transformation of auditors' roles, with a shift towards a greater focus on analytical and advisory responsibilities, departing from traditional manual tasks. These findings underscore the potential advantages for audit clients, auditors, and the audit process, underscoring the significance of embracing these technologies to advance the auditing profession in the digital age.\u0000Conclusion- The study investigates how CBAI influences audit quality and efficiency through a thorough examination of data sourced from a sample of external auditors operating within the context of Jordan. Additionally, it delves into the significant advancements that CBAI can introduce to the auditing field, encompassing its potential for data storage and analysis, the improvement of communication between auditors and clients, the adoption of innovative audit techniques, and the shift from manual to digital auditing methodologies.\u0000\u0000Keywords: Cloud-based artificial intelligence, Auditing, Auditors, Cloud computing, Artificial Intelligence, Audit quality. \u0000JEL Codes: O30, O33, O35\u0000","PeriodicalId":517141,"journal":{"name":"Pressacademia","volume":"56 3","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-02-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139896789","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}
Pub Date : 2024-02-01DOI: 10.17261/pressacademia.2023.1865
Luan Vardari
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. Methodology- 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. Findings- 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. Conclusion- 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. Keywords: Financial reporting, AI, IFRS, sustainable reporting in accounting, Western Balkan, bibliometrics JEL Codes: M14, M41, G12, G34,
{"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":"27 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-02-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139897351","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}
Pub Date : 2024-02-01DOI: 10.17261/pressacademia.2023.1862
M. Alqudah, Laura Sierra‐García, M. García-Benau
Purpose- This study aims to address the existing gaps in the body of knowledge on sustainable technologies in the Environmental, Social, and Governance (ESG) field. It achieves this by employing a rigorous systematic review methodology and using VOSviewer and Biblioshiny software to analyze a comprehensive dataset of 1,603 papers from the ABS 2023 journal list, covering various knowledge domains. Methodology- This research undertakes a systematic analysis of the multifaceted ESG domain using a cluster-based approach rooted in bibliographic coupling analysis. This methodology reveals intricate network associations within distinct clusters of ESG literature. The study identifies four significant literature clusters: sustainable financial technology (FinTech), sustainable artificial intelligence (AI), sustainable big data, and sustainable cryptocurrency. Findings- The analysis conducted in this study reveals four distinct clusters of literature within the ESG field, shedding light on the interconnectedness of these areas. The identified clusters are sustainable financial technology (FinTech), sustainable artificial intelligence (AI), sustainable big data, and sustainable cryptocurrency. Each cluster represents a specific facet of ESG and provides valuable insights into its individual development and interrelationships. Conclusion- This research offers valuable insights into the state of knowledge in the ESG field, providing a well-structured understanding of the ESG landscape. It not only highlights the key clusters of literature but also offers a qualitative analysis, providing researchers with a roadmap for exploring research opportunities and specific areas within the ESG literature. By identifying these clusters and their relationships, this study contributes to the advancement of sustainable technologies within the ESG domain and sets the stage for future research in this evolving field. Keywords: ESG, sustainability, financial technology, artificial intelligence, big data, cryptocurrency, Cluster analysis. JEL Codes: G34, G38, G39
{"title":"ESG sustainable technologies literature review using cluster-based methods","authors":"M. Alqudah, Laura Sierra‐García, M. García-Benau","doi":"10.17261/pressacademia.2023.1862","DOIUrl":"https://doi.org/10.17261/pressacademia.2023.1862","url":null,"abstract":"Purpose- This study aims to address the existing gaps in the body of knowledge on sustainable technologies in the Environmental, Social, and Governance (ESG) field. It achieves this by employing a rigorous systematic review methodology and using VOSviewer and Biblioshiny software to analyze a comprehensive dataset of 1,603 papers from the ABS 2023 journal list, covering various knowledge domains.\u0000Methodology- This research undertakes a systematic analysis of the multifaceted ESG domain using a cluster-based approach rooted in bibliographic coupling analysis. This methodology reveals intricate network associations within distinct clusters of ESG literature. The study identifies four significant literature clusters: sustainable financial technology (FinTech), sustainable artificial intelligence (AI), sustainable big data, and sustainable cryptocurrency.\u0000Findings- The analysis conducted in this study reveals four distinct clusters of literature within the ESG field, shedding light on the interconnectedness of these areas. The identified clusters are sustainable financial technology (FinTech), sustainable artificial intelligence (AI), sustainable big data, and sustainable cryptocurrency. Each cluster represents a specific facet of ESG and provides valuable insights into its individual development and interrelationships.\u0000Conclusion- This research offers valuable insights into the state of knowledge in the ESG field, providing a well-structured understanding of the ESG landscape. It not only highlights the key clusters of literature but also offers a qualitative analysis, providing researchers with a roadmap for exploring research opportunities and specific areas within the ESG literature. By identifying these clusters and their relationships, this study contributes to the advancement of sustainable technologies within the ESG domain and sets the stage for future research in this evolving field.\u0000Keywords: ESG, sustainability, financial technology, artificial intelligence, big data, cryptocurrency, Cluster analysis.\u0000JEL Codes: G34, G38, G39\u0000","PeriodicalId":517141,"journal":{"name":"Pressacademia","volume":"167 2","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-02-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139897473","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}
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