Transformation of Islamic Work Ethic and Social Networks: The Role of Religious Social Embeddedness in Organizational Networks

The aim of this study is to explore the influence of religious beliefs on social or work-related ties of managers who are member of organizational networks representing two different ideologies (religious and secular) in Turkey. In this research, the emergence of secular and devout entrepreneurs is considered as a phenomenon, and special attention is paid to religious transformation and secularism in Turkey. Social network analysis method is used to define the nature of communication links among 80 chairmen who are the members of two conflicting and dominant groups in Turkish business system. The findings show that Protestant work ethic suggested by Weber with regard to Christianity have attained a similar place over the past decade in Islamic organizational networks. The concern of political power in religion leads to organizational networks being nourished by religious norms and creeds in many developing countries. Especially in societies like Turkey where the state is dominant in the business life, organizations and managers prefer to be included in religious networks to make close contacts with the state. Another significant finding is that efforts of the members of religious networks—in spite of their relatively closed characteristics—in terms of being at the center of a network and taking the brokerage role, are highly developed on the contrary to the literature.     

Dust entrainability and its effect on explosion propagation in elongated structures

Two apparatuses have been developed to characterize the entrainability of dust deposits. The minimum aerodynamic wall shear stress required for dust removal (Critical Shear Stress), measured by the first apparatus, is an indicator of the ease with which dust particles can be removed from a layer. The second apparatus measures the settling velocity distribution of dust clouds, which is an important factor controlling the extent of dispersion as well as the time period during which the entrained dust cloud can remain suspended. Testing has shown that the critical shear stress depends not only on the nature of the dust, but on the way the dust deposit is formed. Therefore, a portable version of this apparatus was developed to allow field testing of dust deposits. This methodology has also been used to evaluate the effect of oil treatment sometimes used in the grain handling industry to reduce dust emission. Simulated explosion tests have demonstrated the importance of critical shear stress on dust entrainability. A simple model calculating unsteady dust concentration in elongated structures has been developed. The model shows that flammable dust concentrations induced in a gallery by a primary explosion exist over a finite length and time period. Therefore, the probability of a secondary explosion depends not only on the dust and layer properties, but on the details of the primary explosion and of the enclosure geometry. A simple criterion for transmission of a primary explosion into an adjoining elongated structure is discussed in the paper.     

Theory-Driven Choice Models

We explore issues in theory-driven choice modeling by focusing on partial-equilibrium models of dynamic structural demand with forward-looking decision-makers, full equilibrium models that integrate the supply side, integration of bounded rationality in dynamic structural models of choice and public policy implications of these models.     

Credit growth,current account and financial depth

Exploring the determinants and dynamics of the current account balance is one of the priorities of academic literature and policy circles. Although the effects of structural variables are deeply analysed, a lesser attention has been paid to the impact of financial variables. Drawing on standard empirical current account models and with a large sample of industrial and developing countries, we report a significant deterioration in the current account balance in case of an increase in the credit growth. Moreover, we find that this link is substantially stronger for the developing ones motivating a closer examination. Therefore, we further advance our analysis and show that credit growth causes a stronger impact on the current account balance for lower levels of financial depth. In other words, at the early stages of financial development, acceleration in the credit growth might cause a larger deterioration in the current account balance; thus, it might be suggested that monetary policy and macro-prudential measures aimed at preventing financial excess might be more effective to reduce the external imbalances at the early stages of financial deepening.     

Existence of competitive equilibrium under financial constraints and increasing returns

This paper studies a ‘factor cost in advance’ model with increasing returns in production. In the model both partial equilibrium and general equilibrium may exist since working capital of firms limit their input demand. We provide a sufficient condition for the existence of partial equilibrium of a firm operating on a non-convex choice set. Furthermore we establish the existence and uniqueness of competitive equilibrium in the special case of logarithmic utility.     

Service innovation in the hotel industry: culture,behavior, performance

The aim of this study is to focus on the service innovation culture (SIC) in the formation of frontline employees’ (FLE) innovation performance based on two fit theories. More specifically, the research evaluates and examines the mediating role of challenge-oriented citizenship behavior (COCB) and charged behavior in the aforementioned relationship. To test the hypotheses, two-step structural equation modeling with bootstrapping estimation was conducted in AMOS, using data from 215 full-time frontline hotel employees over a one-month time period. This study establishes that the development of a SIC is positively related to the innovation performance of FLE. Likewise, the results indicate that there is a partially mediating role for the COCB and expanded charged behavior (encompassing vitality and creative self-efficacy) of FLE in the relationship between SIC and innovation performance. The findings of this study highlight the need for managers to incorporate a secure and trusting work environment so FLE will eagerly participate in the service innovation process by voicing their novel ideas. Managers can also consider the significance of the employee selection procedures and take advantage of employing university graduate for frontline service jobs.     

Local Culture and Dividends

I empirically investigate whether geographical variations in local culture, as proxied by local religion, affect dividend demand and corporate dividend policy for a large sample of US firms. Firms located in Protestant counties are more likely to be dividend payers, initiate dividends, and have higher dividend yields, while firms located in Catholic counties are less likely to be dividend payers and have lower dividend yields. There is a geographically varying dividend clientele effect consistent with the variations in risk aversion among different cultural groups. My results suggest that firms largely held by local investors determine their corporate policies in line with local culture.     

Income Heterogeneity in the Voluntary Provision of Dynamic Public Goods

This paper explores the effect of income inequality on the voluntary contributions to a dynamic public good. We find that income heterogeneity has a significant impact both on contributions and welfare. The results show that the often observed decay of cooperation does not carry over to the asymmetric environment considered in this study. Our results also suggest that subjects in each income class make different contribution amounts in an absolute sense and give the same percentage of their income. Moreover, we find that contributions of individuals with the same endowment are sensitive to how heterogeneous the environment is.