{"title":"Impact of Financial and Trade Openness on Financial Development in Emerging Market Economies: The Case of Turkey","authors":"Esin Cakan","doi":"10.3844/AJEBASP.2017.71.80","DOIUrl":"https://doi.org/10.3844/AJEBASP.2017.71.80","url":null,"abstract":"The study aims to examine whether the intensity of financial openness, trade openness and foreign direct investment promoted financial development in Turkey for the period 1974–2014. Three financial development indicators are used constructing the data from the World Development Indicators. Autoregressive Distributed Lag Model (ARDL) and the bounds tests are employed to show the long run relationship among variables. The empirical results suggest that financial openness and foreign direct investment have a predictive power in fostering financial development. More, trade openness does not have predictive power on financial development. It can be concluded that financial openness and foreign direct investment can be used to foster financial development as well as economic growth in the case of Turkey. These results has very important inferences on the Turkey’s Custom Union agreement with the European Union.","PeriodicalId":169514,"journal":{"name":"American Journal of Economics and Business Administration","volume":"235 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2018-03-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"134359516","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"The Relaxing of Capital Controls and Rise of External Debt","authors":"Chokri Zehri","doi":"10.3844/AJEBASP.2017.61.70","DOIUrl":"https://doi.org/10.3844/AJEBASP.2017.61.70","url":null,"abstract":"This paper examines the impact of capital account liberalization on the external debt. The study is made for a panel of eight countries of South Mediterranean Countries (SMCs) over the period 1971 to 2015. We use different models to explain the growth of external debt. We find that capital account liberalization is negatively correlated with external debt. We also find that the macroeconomic instability has an important role in the rise of external debt.","PeriodicalId":169514,"journal":{"name":"American Journal of Economics and Business Administration","volume":"32 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2017-12-11","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"116985676","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Forecasting Bangladesh's Inflation through Econometric Models","authors":"N. Islam","doi":"10.3844/AJEBASP.2017.56.60","DOIUrl":"https://doi.org/10.3844/AJEBASP.2017.56.60","url":null,"abstract":"This research tries to sketch the concrete steps that help carry out to use ARIMA time series models for forecasting Bangladesh’s inflation. The focus, in this paper, is short-term basis annual inflation forecasting. For this purpose, different ARIMA models are used and the candid model is proposed. Based on the diagnostic and evaluation criteria, the most accurate model is selected. The order of the best ARIMA model was found to be ARIMA (1, 0, 0) to forecast the future inflation for a period up to five years. The predicted inflation rate is 4.40 in 2016 and in the consecutive years, it will rise slightly. The findings of the paper will give us a short-term view of inflation in Bangladesh and support in implementing policies to maintain stable inflation.","PeriodicalId":169514,"journal":{"name":"American Journal of Economics and Business Administration","volume":"9 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2017-11-08","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"129396043","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Information Contents of Short Selling Restriction and Stock Lending and Borrowing Transactions","authors":"Yeong-suk Cho, Youngsik Kwak","doi":"10.3844/AJEBASP.2017.27.37","DOIUrl":"https://doi.org/10.3844/AJEBASP.2017.27.37","url":null,"abstract":"This study focuses on the distinctive incident in which Stock Lending and Borrowing (SLB) transaction and short selling grew continuously even during the wavering period of the Korea Composite Stock Price Index (KOSPI) in the Korea Exchange (KRX) market. The authors analyze the information contents of SLB and short selling on KOSPI financial stocks. The financial stocks were freed from short selling ban on November 14, 2013, after being banned for more than five years following the global financial crisis in 2008. Employing the event study methodology, the authors also analyze the differences between stock market returns before and after the short selling ban. The results of this study show that the concentrated group including high levels of SLB and short selling were characterized by the higher Abnormal Return (AR) with negative effect than the comparative group after the occurrence of short sales. The results also discover that SLB and short selling transactions provide the market with significant information contents. The information effect of SLB and short selling is consistent over time, but is stronger when the transactions are more concentrated. Finally, the results reveal that the short selling has the most considerable influence on the stock market.","PeriodicalId":169514,"journal":{"name":"American Journal of Economics and Business Administration","volume":"74 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2017-10-26","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"133895301","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"How Can the Public Monitor Monetary Policy","authors":"Takashi Senda","doi":"10.3844/AJEBASP.2017.38.46","DOIUrl":"https://doi.org/10.3844/AJEBASP.2017.38.46","url":null,"abstract":"On August 11, 2000, the Bank of Japan made one of the most controversial decisions in the history of monetary policy when it ended its zero-interest-rate policy and increased the overnight rate to 0.25%. This paper aims to examine whether or not this decision to terminate the zero-interest-rate policy was premature. In this study, I argue that this decision by the Bank of Japan to tighten monetary policy in 2000 was unreasonable as there still remained a great deal of slack in the economy and inflation was not far from its target. On reading the minutes of the Monetary Policy Meeting of August 11, 2000, I observe that some arguments for tightening monetary policy seem to confuse rates of change and levels.","PeriodicalId":169514,"journal":{"name":"American Journal of Economics and Business Administration","volume":"1 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2017-07-06","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"117096922","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Service-Learning in Business Education: An Analysis of Spirituality, Leadership and Motivation","authors":"M. Dickerson, Roxanne Helm-Stevens, Randy Fall","doi":"10.3844/AJEBASP.2017.1.12","DOIUrl":"https://doi.org/10.3844/AJEBASP.2017.1.12","url":null,"abstract":"The major goal of this study was to explore student perceptions of service-learning and its effect on development of their leadership skills and spirituality. This manuscript begins by describing the theoretical foundations that inform the literature on the correlation between service-learning and leadership, spirituality and motivation. The researchers then put forth their quantitative data, presented using two data sets, drawing three clear links in the constructs of spirituality, motivation and leadership-all of which support previous findings. The findings further suggest that for this sample of students, a spiritual understanding of their role in service-learning was moderately correlated with both motivation and leadership.","PeriodicalId":169514,"journal":{"name":"American Journal of Economics and Business Administration","volume":"8 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2017-06-21","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"131371924","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Gülaçt inodot, F. inodot, N. inodot, Erkut Alt inodot, nda gbreve
{"title":"The Effect of Entrepreneurship and Culture on the Employee Commitment in Turkey","authors":"Gülaçt inodot, F. inodot, N. inodot, Erkut Alt inodot, nda gbreve","doi":"10.3844/AJEBASP.2017.13.26","DOIUrl":"https://doi.org/10.3844/AJEBASP.2017.13.26","url":null,"abstract":"Notions of entrepreneurship culture in the development of society are vital. Today, with the speed of globalization and rapidly changing market conditions, companies can achieve a sustainable competitive advantage and be able to maintain productivity, which has increased the importance of domestic entrepreneurial activity in a company. The purpose of this study is to explain the concepts of entrepreneurship and intrapreneurship in a theoretical framework and to analyze their effects of entrepreneurial intents and activities on an organization and employees. A survey is conducted in the services sector as research, analyzed data collected from a total of 229 staff, including first-stage managers. In the framework of the research, correlation test and regression test were applied to investigate whether organizations' internal entrepreneurial activities have an effect on employee performance. According to the results, only new job opportunities for employers have a positive impact on employee commitment.","PeriodicalId":169514,"journal":{"name":"American Journal of Economics and Business Administration","volume":"29 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2017-05-12","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"114784914","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Study on the Relationship between International and Domestic Grain Prices in Developing Countries—An Application of Markov-Switching Autoregressive Model—","authors":"Shuqin Yan, Kolawole Ogundari, H. Isoda, S. Itô","doi":"10.3844/AJEBASP.2016.44.52","DOIUrl":"https://doi.org/10.3844/AJEBASP.2016.44.52","url":null,"abstract":"This study aims at estimating the influence of international grain prices on the domestic grain prices in 24 developing countries using a nonlinear model, Markov-Switching Autoregressive model. The results indicate that international grain prices have a positive influence on domestic grain prices before and during/after the grain price-hikes, while the degree of influence may vary depending upon grains and countries. Overall, the influences of the international grain prices on domestic grain prices during/after the price-hikes are less than before in those countries where rice or maize are staple food such as for rice in Benin, Cameroon, Niger and Tunisia and for maize in Chad, Guatemala and Nicaragua; however, the influences are generally larger than before the price-hikes for those countries where wheat is staple food such as Armenia, Georgia, Mauritania and Pakistan. For the effects of domestic prices in previous periods, they had a positive influence on current domestic grain prices in most of the countries in this study.","PeriodicalId":169514,"journal":{"name":"American Journal of Economics and Business Administration","volume":"24 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2016-07-31","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"122216572","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"The Importance of Product Innovation in Driving Brand Success: An Empirical Study on Automotive Industry","authors":"J. Hanaysha","doi":"10.3844/AJEBASP.2016.35.43","DOIUrl":"https://doi.org/10.3844/AJEBASP.2016.35.43","url":null,"abstract":"Nowadays, business markets are characterized by high competition and therefore, reinforcing brand success is one of the challenging tasks for organizations. One of the key indicators of brand success appears in an organization’s ability to form strong brand equity. Previous literature reported that consumers form decisions based on their perceptions of added values and unique offerings of a brand. Among the key factors that ensure value embeddedness and attractive offering is product innovation. However, despite the importance of product innovation in driving brand success and competitiveness, but there are very limited researches that investigated its link with brand equity. Therefore, this paper is designed to test the association between product innovation and brand equity in Malaysian automotive industry. The data were gathered using a survey method from a sample of 287 passenger car users in northern Malaysia. The outcomes of this study showed that product innovation had significant positive relationship with brand equity. The findings also confirmed that product innovation has significant positive relationship with all elements of brand equity; namely brand awareness, brand loyalty, brand image and brand leadership. These findings open avenues for future studies to further examine the role of product innovation in driving brand equity and competitiveness with regard to different brands.","PeriodicalId":169514,"journal":{"name":"American Journal of Economics and Business Administration","volume":"65 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2016-03-28","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"127328969","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"The Place of Transport Infrastructures among the Economic Factors of Foreign Direct Investment Attractiveness in the Meda-10 Region","authors":"Samir Saidi, S. Hammami","doi":"10.3844/AJEBASP.2016.23.34","DOIUrl":"https://doi.org/10.3844/AJEBASP.2016.23.34","url":null,"abstract":"This article aims to evaluate the contribution of transport infrastructures to improve the attractiveness of the Foreign Direct Investment (FDI) in the countries of the MEDA-10 region. The present article is formed by two sections. In the first one, we have a theoretical study of the FDI attractiveness and an explanation of the transport role among the territorial attractiveness factors. In the second section, we represent the empirical study. The obtained results, by using an econometric model with panel data, showed that the traditional determinants of FDI (GDP, economic openness level, inflation, exchange rate ...) have the most significant influence on the international investors’ decision. Also, transportation has a significant influence and it is considered as a new important factor of FDI attractiveness with strategic issues that cannot be avoided.","PeriodicalId":169514,"journal":{"name":"American Journal of Economics and Business Administration","volume":"118 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2016-03-03","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"114878242","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}