The asymmetric moderating role of market orientation on the ambidexterity-firm performance relationship for prospectors and defenders

Drawing on the resource-based view of the firm and, in particular, the capabilities perspective of firm performance, the authors examine the relationship between ambidexterity and firm performance for two strategy typologies: prospectors and defenders. Ambidexterity, defined as the combination of two discrete capabilities (exploration and exploitation), should have a less negative effect on firm performance among prospectors that add exploitation to exploration than among defenders who add exploration to exploitation. Hence, this research predicts an asymmetric effect of ambidexterity on firm performance for prospectors and defenders. The authors further posit that a boundary-spanning culture, such as market orientation, can function as a metaculture by integrating the subunit cultures generated by exploration and exploitation. As a result, market orientation should mitigate the negative effect of ambidexterity on firm performance, albeit differently for prospectors and defenders, and thus point to an asymmetric moderating role of market orientation. The findings provide mixed results, which the authors discuss along with some theoretical and managerial implications.     

Mismatch between Material Deprivation and Income Poverty: The Case of Turkey

By employing cross-sectional data obtained from Survey of Income and Living Conditions for the years from 2007 to 2011, we analyze the identification problem of the poor by using both monetary and non-monetary measures. We classify the poor into the following categories: (i) poor in monetary and nonmonetary measures, (ii) poor in monetary measure only, (iii) poor in non-monetary measure only, and (iv) non-poor in both categories. We examine the determinants of each category by utilizing the probit model and find that the share of workers in adults — or the share of informal or agricultural workers — creates some disparities between poverty at a country and regional level.     

Monetary shocks,exchange rates and trade balances: Evidence from inflation targeting countries

This paper investigates the relationship among monetary policy shocks, exchange rates and trade balances in five Inflation Targeting Countries (ITCs). The investigation is based on Structural Vector Error Correction Models (SVECMs) with long run and short run restrictions. The findings reveal that a contractionary monetary policy shock leads to a decrease in price level, a decrease in output, an appreciation in exchange rate, and an improvement in trade balance in the very short run. Our findings contradict the findings of price, output, exchange rate and trade puzzles that have been found in many empirical studies. Furthermore they are consistent with the theoretical expectations regarding the effect of a contractionary policy. The only long run restriction that we imposed on our models is that money does not affect real macroeconomic variables in the long run, which is consistent with both Keynesian and monetarist approaches.     

The Interactive Effect of Internal and External Factors on a Proactive Environmental Strategy and its Influence on a Firm's Performance

While the literature on the effective management of business and natural environment interfaces is rich and growing, there are still two questions regarding which the literature has yet to reach a definitive conclusion: (1) what is the interactive effect between internal and external drivers on a proactive environmental strategy (PES)? and (2) does a PES influence firm's performance? Drawing on the resource-based view for the internal drivers’ perspective and institutional and legitimacy theories for the external drivers’ perspective, this study suggests that the effect of entrepreneurial orientation on a PES is moderated by the intensity of government regulations and customers’ sensitivity to environmental issues. The authors also examine the relationship between the PES and a firm's performance in terms of sales and profit growth. Implications are discussed regarding the role of a PES in achieving a competitive advantage in the marketplace.     

Euler Equation Approach for Emerging-market Macro Models

This paper focuses on how to obtain numerical solutions to emerging-market DSGE models with occasionally binding constraints by using the Euler equation, rather than using value functions of households. The main point is that the Euler-equation approach works in a fast and simple way for a variety of recent emerging-market macro models. An important reason behind this point is that it is relatively easy to pin down the functional form of aggregate equilibrium conditions in these models. The time-iteration method is applied to Euler equations of a small open-economy with overborrowings. It is discussed how to use the Euler equation approach to recent models of sovereign debt and to show that the presence of the Laffer-curve of debt-revenues leads us to use the piecewise parameterized-expectations approach.     

Capacity inefficiencies of teaching and non-teaching hospitals

This paper investigates capacity-based inefficiency causes and the existence of any differences between the improvement processes of teaching and non-teaching hospitals. In an effort to comparatively evaluate the inefficiency causes of hospitals in Turkey, this study uses data envelopment analysis (DEA). DEA can simultaneously assess the relationship between capacity (physical capacity and medical labor capacity) as inputs and the utilization of capacity (utilization of institution capacity for patients, utilization of physical capacity, and utilization of technological capacity) as outputs. In addition, the Malmquist productivity index (MPI) is used to analyze the patterns of efficiency change for the study years from 2001 to 2007. Several improvement suggestions have been provided to health care policy makers regarding inefficiency causes and ways of optimizing hospital efficiency.     

R&D spillovers through trade in a panel of OECD industries

This paper investigates the significance of Research and Development (R&D) spillovers through intra- and international trade in intermediate goods for productivity growth in a panel of OECD industries during 1973–1994. In the model, four different sources of R&D are identified: R&D conducted in the particular industry itself, R&D conducted in the same industries in other countries, R&D conducted in other domestic industries, and R&D conducted in other foreign industries. I find that among R&D sources the most important contributions to productivity growth come from the domestic R&D efforts. Here, own R&D is important for both domestic innovation and for the productivity catch-up process. Evidence that international R&D spillovers also have significant effects on productivity growth is found to be less robust. My analysis also shows that human capital affects productivity directly as a factor of production.     

Governors' Party Affiliation and Unions

Employing a regression discontinuity (RD) approach on gubernatorial elections in the United States over the last three decades, this paper investigates the causal effects of governors' party affiliation (Democrat versus Republican) on unionization of workers, and unionized workers' working hours and earnings. Surprisingly, we find no significant impact from the party affiliation of governors on union membership and union workers' labor‐market outcomes.     

Heterogeneity in the determinants of length of stay across middle age and senior age groups in thermal tourism

ABSTRACT

Water has been seen as a healing source of life for centuries. Even the placebo effect of thermal therapies increases consumers’ well-being. Especially with easy traveling options demand for thermal therapies are on the rise. Users of thermal therapies are mostly composed of seniors. Even though age groups in the senior market have heterogeneous needs, managers assume them to be homogenous. Measuring thermal tourism demand by the length of stay, this study analyzed the determinants affecting the length of stay of older thermal tourists. The length of stay is predicted to have been affected by age, purchasing power, physical distance, and seasonal preferences. Even though all of the above have an effect on the length of stay, we find that age is the main determinant deciding the duration. These results may serve as a starting point for policymakers and tourism managers to tailor strategies to increase income streams associated with length of stay.