An exploratory study of resident perceptions toward the tourism industry in Cappadocia: a Social Exchange Theory approach

This paper evaluates the perceptions of Cappadocia residents on the impacts of tourism development and resident attitudes toward tourism. Social Exchange Theory underpinned this study of the perceptions of Cappadocia’s residents and their attitudes toward tourism. Primary data were collected from tourism industry professionals, officials of non-profit organizations and handicraftsmen. Twenty-three in-depth interviews were conducted with Cappadocia residents, and the data were analyzed with content analysis. Results highlight that “Economic,” “Socio-Cultural” and “Environmental” aspects can be inferred to encompass resident perceptions toward the impacts of tourism development in Cappadocia. Residents tend to recognize the economic benefits as well as socio-cultural and environmental costs. Results indicate that Social Exchange Theory can be used in explaining the perceptions of Cappadocia residents and reactions to tourism phenomena. This study is expected to provide practical ways for concerned authorities to make future policies and strategies to eradicate problems that create unpleasant feelings amongst residents.     

Tourism education and internships: a metaphor analysis

The objective of the present study was to examine tourism undergraduates’ perceptions of their education and internship experiences through metaphorical analysis whilst striving to raise the awareness of tourism educators towards using metaphors. A qualitative methodology was used to explore this phenomenon. Participants were senior students (n = 94) from the Faculty of Tourism at Akdeniz University in Antalya, Turkey. The data were collected with a semi-structured questionnaire and processed using content analysis. Next, metaphors found in answers were categorised into different groups, and relevant excerpts were identified. The results provide insights useful to both tourism education providers and tourism establishments. Conclusions, limitations and future research directions are also presented.     

Case Study: Energy Industry Economic Impacts from Ohio River Transportation Disruption

Recent history is full of water transport disruption events that have had significant economic effects on the waterside industries. Such disruptions may be either natural or man-made disasters or planned outages on the river's lock and dam structures. To assess coal-based economic impacts for the Ohio River Basin, we developed a network flow model to represent waterside coal-fired power plants situated along the Ohio River, their respective coal supplying mines, and the various transportation modes that connect them. We show that significant transportation-centric insights can be derived by using only commonly available spreadsheet-based analysis tools, open-source information systems, and web-based geographic tools.     

Consumer choice and local network effects in mobile telecommunications in Turkey

The aim of this paper is to analyze the extent of network effects in mobile telecommunications in Turkey, and to identify other determinants of consumer choice based on consumer survey data. This study shows that there are regional disparities in the adoption of network services in Turkey, the attractiveness of the different networks varies for consumers between different regions. The results show that local network effects are significant for consumer choice. This finding means that consumers are more likely to be affected by the choices of other people within their local area than by the overall size of a network. Furthermore, local network effects also outweigh macro network effects at least in Turkey.     

Inflation Targeting,Fiscal Policy,and the Exchange Rate Regime

Until recently, Turkey’s economy was characterized by high inflation, undisciplined public finance management, and a fragile banking system and experienced multiple economic crises. After the economy was hit by another crisis in 2001, the central bank became independent, adopted inflation targeting as the monetary policy framework, and implemented reforms to adopt a more stringent fiscal policy. Inflation rates decreased to single-digit levels within 3 years after the independence of the central bank. This article analyzes the end of the high inflation period in the context of monetary and fiscal policy interactions within a Markov-Switching Dynamic Stochastic General Equilibrium model in which monetary and fiscal policies are allowed to switch between different regimes.     

Strategic waiting in the IPO markets

The paper analyzes the strategic waiting tendencies of IPO firms. Our game theoretic model shows why some high-quality firms may strategically delay their initial public offering until a favorable signal about the economic conditions is generated by other issuing firms. Survival analysis suggests that IPOs in the highest quality decile have significantly higher median waiting days (since the start of a rising IPO cycle) than the IPOs in the lowest decile. During the early stages of an expanding IPO cycle the average firm quality is lower than in its later stages. We find supporting evidence also from the IPOs of future S&P 500 firms.     

STATUS QUO IN THE WELFARE ANALYSIS OF TAX REFORMS

The welfare analysis of tax reforms most often consists of comparing the post‐reform distribution of individual welfare with the pre‐reform distribution or possibly that obtained from another reform as if they were completely independent. Such an “anonymous” approach does not take into account “changes” in individual situations, generally the main source of contention in any tax reform debate. This paper proposes a welfare criterion that allows comparison of reforms while taking into account individual status quo—i.e. pre‐reform—situations. This is done by extending standard utilitarian social welfare criteria to the case where individual utilities depend on initial income and income change.     

Capital mobility and labor market volatility

We used a dynamic two-country optimizing model featuring efficiency wages to analyze the implications of capital mobility for labor market volatility. Capital mobility magnifies the short-run effects of productivity shocks and monetary shocks on employment and the real wage, but dampens the medium-run effects. The overall effects of capital mobility on the volatility and the cyclical properties of employment and the real wage are moderate.     

Growth Dynamics in the Biomedical/Biotechnology System

This article aims to understand the dynamics of growth in the biomedical/biotechnology system that consists of a variety of actors ranging from universities, medical supplies firms, and drug research firms, to clinical service suppliers. Based on a comparative study made in Ohio and in Sweden, we have analyzed three main factors: technology competencies, technology transfer, and networking capabilities. Our findings show a set of differences that can be grouped into two categories, viz. management and agglomeration externalities. Differences in management appear at three points: the resources allocated to technological competence development, managerial skills in the technology transfer phase, and the use of technology councils. Ohio seems to offer a better environment for starting up new firms and enabling these firms to successfully commercialize their technological assets. The agglomeration externalities that make a difference between the two regions might be grouped into two categories: increasing returns arising from network externalities and the advantages of networking with a variety of supporting organizations in the system.     

Downside business confidence spillovers in Europe: evidence from causality-in-risk tests

This paper employs an extreme risk spillovers test to investigate the bilateral business confidence spillovers between Greece, Italy, Spain, Portugal, France, and Germany. After controlling for domestic economic developments in each country and common international factors, downside risk spillovers are detected as a causal feedback between Spain and Portugal and unilaterally from Spain to Italy. Extremely low business sentiments in France, Germany, and Greece are mostly due to the common adverse economic environment and to each country’s own domestic economic developments.