The Ottoman dissolution and the İstanbul bourse between war and peace: a foreign exchange market perspective on the Great War

The participation of the Ottoman Empire in the First World War caused economic disruptions, huge budget deficits, surmounted inflation rates and excessive depreciation of Lira, the Ottoman currency. Based on the value of Lira against the currencies of Switzerland, Netherlands, Sweden that were not in the war, we focus on the effects of news about the war on the foreign exchange rates at the ?stanbul bourse from 1918 to 1919. Our results signify some dates, which match the announcements of the armistices and peace meetings, heralding continuous depreciation of Lira. Thus, the findings support the presence of an expectation on the dissolution of the Ottoman Empire with the peace, marked by the escalation of the loss in trust for the Lira and the power of the state in foreign exchange interventions.     

Leadership and culture in the MENA region: An analysis of the GLOBE project

This paper focuses on leadership and culture in the Middle East and North Africa (MENA) region, using data from the GLOBE Project. The results show that cultural practices are manifested by higher in-group collectivism and power distance, whilst cultural values are represented by a common desire for higher performance and future orientation. Examination of the leadership prototypes shows a preference for honest, just and inspirational leadership that encourages loyalty. Further examination of the leadership prototype using cluster analysis produced four sub-clusters of leadership profiles. These revealed the similarities and differences among the MENA region's leadership preferences. Opportunities for further research and implications for managers were discussed.     

HRM and performance—The role of talent management as a transmission mechanism in an emerging market context

This paper investigates the link between HRM practices, talent management (TM), and firm performance and examines the role of HRM/business strategy alignment in an emerging market context. Through survey evidence gathered from 198 respondent firms, this study shows that TM, when focused on a series of practices aimed at developing workforce networks and social capital, is a key transmission mechanism mediating the relationship between HRM and firm performance. HRM strategy and business strategy alignment increases these performance impacts but is not an essential component in the HRM‐TM‐performance link.     

Volatility Modeling and Value-at-Risk (VaR) Forecasting of Emerging Stock Markets in the Presence of Long Memory,Asymmetry, and Skewed Heavy Tails

In this article, we elaborate some empirical stylized facts of eight emerging stock markets for estimating one-day- and one-week-ahead Value-at-Risk (VaR) in the case of both short- and long-trading positions. We model the emerging equity market returns via APARCH, FIGARCH, and FIAPARCH models under Student-t and skewed Student-t innovations. The FIAPARCH models under skewed Student-t distribution provide the best fit for all the equity market returns. Furthermore, we model the daily and one-week-ahead market risks with the conditional volatilities generated from the FIAPARCH models and document that the skewed Student-t distribution yields the best results in predicting one-day-ahead VaR forecasts for all the stock markets. The results also reveal that the prediction power of the models deteriorate for longer forecasting horizons.     

Marketing Communications and Corporate Social Responsibility (CSR): Marriage of Convenience or Shotgun Wedding?

This paper aims to examine the role(s) that the various vehicles of marketing communications can play with respect to communicating, publicising and highlighting organisational CSR policies to its various stakeholders. It will further endeavour to evaluate the impact of such communications on an organisation’s corporate reputation and brand image. The proliferation of unsubstantiated ethical claims and so-called ‘green washing’ by some companies has resulted in increasing consumer cynicism and mistrust. This has made the task of communicating with, and more importantly convincing, an organisation’s stakeholders vis-à-vis its CSR credentials even more difficult. This paper argues that marketing communications tools can play a major role in conveying a company’s CSR messages and communicating a more socially responsible image.     

Complexity of Socio-spatial Transformations Through Tourism: A Mediterranean Village,Kaleköy

This article reflects on the complex consequences of tourism development in the isolated Mediterranean village of Kaleko¨y. Built on the antique city of Simena of the 4th century BC and having remnants also from Hellenistic, Byzantine and Ottoman periods, Kaleköy's main source of livelihood since the 1980s has been tourism. Multiple changes that take place simultaneously at the local level, in relation to or as a consequence of tourism, are conceptualised as interrelated transformations that may fall under the four major headings of economy, demography, spatial organisation and cognition. Defining culture as 'everything learned', these transformations amount to a radical change in the local culture, which now includes a culture of tourism. Based on ethnographic research, the article aims to demonstrate the complexity of changes in physical, as well as economic and social structures as they pertain to tourism.     

Using Survey Sampling Algorithms For Exact Inference in Logistic Regression

Several exact inference procedures for logistic regression require the simulation of a 0-1 dependent vector according to its conditional distribution, given the sufficient statistics for some nuisance parameters. This is viewed, in this work, as a sampling problem involving a population of $n$ units, unequal selection probabilities and balancing constraints. The basis for this reformulation of exact inference is a proposition deriving the limit, as $n$ goes to infinity, of the conditional distribution of the dependent vector given the logistic regression sufficient statistics. It is proposed to sample from this distribution using the cube sampling algorithm. The interest of this approach to exact inference is illustrated by tackling new problems. First it allows to carry out exact inference with continuous covariates. It is also useful for the investigation of a partial correlation between several 0-1 vectors. This is illustrated in an example dealing with presence-absence data in ecology.