Asymmetric effects of industrial production,money supply and exchange rate changes on stock returns in Turkey

The aim of this article is twofold: First, it examines the asymmetric effects of industrial production, money supply and RER on stock returns in Turkey by using the non-linear autoregressive distributed lag (NARDL) model over the periods of 1994:01–2017:05 and 2002:01–2017:05. Second, it tries to determine whether there is a change of these macroeconomic variables’ effects on stock returns after the 2001 financial crisis since after 2002 period represents a structural break from the past in terms of economic, political and macroeconomic policy approaches. The study finds that the effects of the changes in industrial production, money supply and RER on stock returns are asymmetric, and the asymmetries are larger after the 2002 subsample compared to the full sample period. The empirical results further suggest that tight monetary policies appear to retard the stock returns more than easy monetary policies that stimulate them.     

POSTERIOR‐PREDICTIVE EVIDENCE ON US INFLATION USING EXTENDED NEW KEYNESIAN PHILLIPS CURVE MODELS WITH NON‐FILTERED DATA

Changing time series properties of US inflation and economic activity, measured as marginal costs, are modeled within a set of extended New Keynesian Phillips curve (NKPC) models. It is shown that mechanical removal or modeling of simple low‐frequency movements in the data may yield poor predictive results which depend on the model specification used. Basic NKPC models are extended to include structural time series models that describe typical time‐varying patterns in levels and volatilities. Forward‐ and backward‐looking expectation components for inflation are incorporated and their relative importance is evaluated. Survey data on expected inflation are introduced to strengthen the information in the likelihood. Use is made of simulation‐based Bayesian techniques for the empirical analysis. No credible evidence is found on endogeneity and long‐run stability between inflation and marginal costs. Backward‐looking inflation appears stronger than forward‐looking inflation. Levels and volatilities of inflation are estimated more precisely using rich NKPC models. The extended NKPC structures compare favorably with existing basic Bayesian vector autoregressive and stochastic volatility models in terms of fit and prediction. Tails of the complete predictive distributions indicate an increase in the probability of deflation in recent years. Copyright © 2014 John Wiley & Sons, Ltd.     

Islamic Economics in the Late Ottoman Empire: Menâpirzâde Nuri Bey's Mebâhis-i İlm-i Servet

The existing literature on Islamic economics suggests that Islamic economics is a twentieth-century phenomenon with its roots in medieval Islamic intellectual and theological history, thereby leaving a centuries-long gap in the history of Islamic economic thinking. This study aims at taking a first step towards filling this gap by examining a nineteenth-century example of Islamic economics in late Ottoman economic literature. Suggesting a broader definition of Islamic economics, this article investigates a prominent Ottoman intellectual's efforts to define, reveal, and revive a tradition of Islamic economics in historical and intellectual context.     

Building,Marketing and Living in an Islamic Gated Community: Novel Configurations of Class and Religion in Istanbul

This article analyses the development and marketing of Islamic gated communities in Basaksehir, Istanbul. It demonstrates how a blueprint of public–private urban development was appropriated by middle‐class Islamists. The gated communities in Basaksehir—which, at the outset, were not explicitly religious—gradually became attractive to religious actors searching for enclosed urban enclaves where Islamic communities would be protected against perceived moral‐urban threats. While urban‐religious enclaves appear to bear similarities to pre‐modern Ottoman Islamic urban enclaves, the rise of contemporary Islamic gated communities should be understood in light of the recent coming to power of the Islamist Turkish government. In cooperation with this government, housing development agencies approached Islamic investors to find capital for their public–private housing projects. One of the results of this form of urban development is that, contrary to pre‐modern Ottoman Islamic urban enclaves, the Islamic gated communities are homogenous in terms of economic class, catering specifically to the Islamic middle classes. Moreover, people who invest in Basaksehir desire an urban‐religious lifestyle that differs from the ‘traditional' religious lifestyle experienced in ‘traditional' Islamic neighbourhoods. The specific urban‐religious configuration generates a new type of Islam that better fits middle‐class values and a middle‐class lifestyle.     

Changes in Global Trade Patterns and Women's Employment in Manufacturing, 1995–2011

This study investigates the feminization and defeminization trends in manufacturing employment in thirty countries from 1995 to 2011. Utilizing two separate methods, structural decomposition analysis (SDA) and factor content analysis (FCA), the study identifies the major industries and trade partners behind the structural shifts in trade that have induced changes in employment and thus in the rates of women’s employment. The findings highlight that, as a general trend, defeminization in manufacturing has persisted in the Global North, led by a negative trade impact in low-technology industries. In the Global South, feminization and defeminization trends are not as straightforward. Despite positive changes in women’s share of employment in medium-high- and high-technology industries, negative gender bias effects of trade changes are found particularly in high-technology industries, where occupations are notably gendered.     

Teacher opinions regarding the perception management levels of school administrators

The purpose of this research is to determine the levels and use of perception management by school administrators. The study group consists of teachers working in Private Primary School and Secondary Schools affiliated to the Ministry of National Education in Nicosia, the Turkish Republic of Northern Cyprus in the 2016–2017 academic year. The sample of the study is composed of 282 teachers representing the universe selected by the method of easy reachable case sampling. As a means of collecting data in the survey, “Personal Information Form” by Kline (An easy guide to factor analysis, Routledge, New York, 1994) and “Manager Perception Management ent Scale” developed by Uylas (Yönetici Alg? Yönetimi Ölçe?i, Türkiye Ölçme Araçlar? Dizini, 2017a, Okul Yöneticilerinin Sosyal-Duygusal E?itim Liderli?i ve Alg? Yönetimine ?li?kin Ö?retmen Görü?leri, T.C. Abant ?zzet Baysal Üniversitesi, E?itim Bilimleri Enstitüsü, Bolu, 2017b) was used. The obtained data were analyzed in an analysis program. In the research, the values of perception management use levels of managers according to teacher opinions were examined. According to the results and comments obtained from the research, some of the proposals developed for researchers and educators working in the field of education management are as follows. Towards practical; trainings can be given on how school administrators can use perception management for successful perception management practices in educational organizations. In interviews to select school administrators, choosing school administrator with high perception management skills can be prioritized. Towards newstudies; including multidimensional evaluation of all elements of educational organizations such as managers, parents and servants in new researches to be conducted and comparison of teachers ‘and administrators’ views. This study has brought out suggestions that can be implemented in other stages of education.     

The impact of purchasing strategy-structure (mis)fit on purchasing cost and innovation performance

The organizational design literature strongly supports the notion of “structure follows strategy”, and suggests that a misfit between the two has a negative effect on performance. Building on this line of argument, we examine to what extent the (mis)fit between purchasing strategy and purchasing structure impacts purchasing performance. We focus on cost and innovation purchase category strategies, and examine how the deviation from an ideal purchasing structure defined along three dimensions (centralization, formalization, and cross-functionality) impacts purchasing performance. Analysing data collected from 469 firms in ten countries, we demonstrate that a strategy-structure misfit negatively impacts purchasing performance in both cost and innovation strategies. We also find that purchasing proficiency is a mediator in this relationship between misfit and performance. Our findings aid managerial decision making by empirically validating the necessity of having the right purchasing structure for successfully executing different purchasing strategies.     

Analysis of congress destinations' competitiveness using importance performance competitor analysis

To be competitive and successful in congress tourism, destinations must learn which congress tourism-related attributes are important and how they perform against their main competitors. This study identifies the importance and performance of destination attributes in Antalya, Turkey, and compares the position of these attributes to those of its main rival in congress tourism, ?stanbul. Importance performance competitor analysis results show that, according to domestic participants, Antalya has to focus on “sight-seeing and cultural attractions” and “outside entertainment.” For international participants, “climate,” “choice of meeting and housing properties,” and “suitability of conference facilities” exhibit higher performance in Antalya than ?stanbul.