MACROECONOMIC DETERMINANTS OF RADICAL INNOVATIONS AND INTERNET BANKING IN EUROPE

Current technological development has various implications for the bankingsector. Especially, the banks prefer internet banking to keep up their customers, reducetransaction costs, enhance their customers’ portfolio, and accelerate financial transactions.In this regard, this study aims at finding out the use of intensity of internet banking. Extensivetechnological innovation boosts internet banking. Banks use internet services as anaggressive business strategy to gain market share rather than for making profits. Theimportance of the innovation for the banking sector is that the competition forces banks to beinnovative in order to survive in the market. In the macroeconomic level, R&D expenditures,education expenditures, skilled human capital, level of the information and communicationinfrastructure and the accessing the internet by the individuals, patent protection laws, thelevel of the competition in national and international markets, the cost of inputs such asenergy or wages can affect the innovation.Radical Innovation, Internet Banking, Macroeconomy

Renewable Energy Financial Management in the EU's Enlargement Strategy and Environmental Crises

AbstractThe European Union's enlargement process has entered a new phase. The completion of the accession negotiations with Croatia opened the way to membership in mid-2013. In addition, for Turkey, accession process remains the most effective framework for promoting EU-related reforms, developing dialogue on foreign policy issues, strengthening economic competitiveness and diversifying supply of energy sources. Similarly, improved energy cooperation with the enlargement countries directly benefits European citizens and businesses.Energy interconnection is a key element in the EU's cooperation with all neighboring countries aimed at promoting sustainable economic growth, trade and cultural exchange, employment, as well as at improving living conditions.All enlargement countries have now embarked upon a path of recovery, though at varying paces. For instance, Turkey has emerged from the crisis with a bigger economy and its growth continues to be impressive, but there are increasing signs of overheating. The Western Balkan economies are also beginning to recover, though it will take some time for them to reach pre-crisis levels.Meanwhile, climate developments will affect financial positions through their direct impact on tax bases and spending programs, and more importantly, through the policies needed to mitigate climate change and adapt behaviors and production to the new environment. The present study aims to investigate the relationship between economic growth, energy intensity, and financial management and CO2 emissions in case of the EU

Application of Expanded Technology Acceptance Model for Enhancing the HRIS Usage in SMEs

Rapid developments and change have culminated new applications of information technologies. This trend is reflected in the plethora of innovative studies. Literature indicates that small- to medium-sized enterprises (SMEs) perceive human resources information systems (HRIS) as complicated and time consuming, resulting in resistance from both users and employees. The purpose of this article is to identify necessary acceptance conditions for a successful implementation of the HRIS software within SMEs in Turkey. SMEs compose 99% of all companies in Turkey. Fierce rivalry within sectors gives rise to increased technology use to gain a competitive advantage. This study contributes to an efficient implementation of widely used HRIS in SMEs and offers solutions for implementation failures, including user resistance and idle system problems. This study attempts to apply the technology acceptance model to 112 SMEs that implement HRIS exclusively with all the submodules. This research analyzes success factors for an effective HRIS implementation by testing the latest integrated model of expanded technology acceptance. It concludes that there is a positive and robust correlation between acceptance and use of technology variables and user satisfaction. The results of this study are useful not only for the managers but also for the manufacturers, technical support, online support, and aftersales services as they are advised to develop strategies for user satisfaction

Securitization in the United States of America and the European Union: Does It Work in Turkey?

DergiPark: 326696trakyasobedSecuritization is a process in which different assets or portfolios of cash owngenerating securities are pooled together and then sold to third parties. Recent globalfinancial crisis demonstrate the need to create and implement regulatory frameworksthat balance financial markets. In this context, Europeans have watched inbewilderment and amazement as the USA mortgage market cratered.The purpose of this article is to research the differences of securitisationbetween the USA and the European Union from a macroeconomic perspective.There is considerable evidence that securitisation in the USA and the EU indicatestructural differences. Securitisation in most of the economies in the world is anattractive and potentially large source of long-term funding for mortgage markets.In addition, securitisation can be found both in developed and in emerging countries.Every year, all over the world, approximately US$5 trillion worth of fundsare transferred to homebuyers over the capital markets. The lack of a modernhousing finance system in Turkey prevents from taking advantage of these widelyavailable funds and services.In this regard, another objective is to capture key trends for the securitisationin Turkey via secondary mortgage markets. The Mortgage Law was approved inMarch 2007 by the Turkish Grand Nation Assembly. This law encouragessecuritisations of mortgage loans in the best advantages of the financial systems andthe borrowers. Because of its benefits; further encouragement should be provided forpromoting securitisation in TurkeyMenkul kıymetleştirme, nakit sahip olunan farklı varlık veya tahvillerin,menkul değerler ile birlikte toplandığı ve sonra da üçüncü bir yatırımcıya satıldığıbir süreçtir. Yaşanılan global kriz, finansal piyasaların dengelenmesi içindüzenleyici kuralların yaratılıp uygulanması gereğini göstermektedir. Bu anlamda,Avrupa’lılar ABD’nin mortgage piyasasında yaşadığı düşüşünü hayretle veşaşkınlıkla karşılamaktadırlar.Bu çalışmamızın amacı, ABD ve AB’deki menkul kıymetleştirmedekifarklılıkları makro ekonomi açısından araştırmaktır. Anılan ülkeler arasındakimenkul kıymetleştirmenin yapısal farklılıklar gösterdiğine ait yeterli kanıtlarmevcuttur.Menkul kıymetleştirme dünyanın çoğu ekonomilerindeki mortgage piyasalarıiçin uzun erimli fon sağlamada cazip ve potansiyel geniş bir kaynaktır. Buna ilaveolarak, menkul kıymetleştirme hem gelişmiş hem de gelişmekte olan ülkelerdegörülmektedir. Dünya çapında her yıl konut alanlara yaklaşık 5 trilyon dolarsermaye piyasalarınca transfer edilmektedir. Türkiye’de bu türden modern bir konutfinansmanının olmaması ülkemizi bu olanaktan yoksun bırakmaktadır. Bu anlamda,çalışmanın bir diğer amacı menkul kıymetleştirme ile ilgili anahtar trendleri ikincilmortgage marketler yoluyla elde etmektir. Türkiye Büyük Millet Meclisi’ ndeMortgage Yasası 2007 Mart ayında kabul edildi. Bu yasa mortgage ile finanssistemine ve konut almak için borçlananlara en iyi avantajı kredilerle sağlayıpmenkul kıymetleştirmeyi teşvik etmektedir. Getirdiği faydalarından dolayı damenkul kıymetleştirmeyi Türkiye’de tutundurmak için ona daha fazla ileri teşviklersağlanmalıdı

Minimizing Operationel Risk At the Banking Sector and Six Sigma Applications

DergiPark: 326403trakyasobedSix Sigma methodology and its tools are becoming very popular for the improvement of key processes of organizations. Companies which try to survive and get a slice from the huge markets in this environment should meet the customer requirements fully and even more than the customers' expectations with zero defects, quick and as the cheapest. By focusing on the improvement of processes on both a strategic and tactical level, Six Sigma has enabled clients to achieve extraordinary financial benefits are achieved by increasing quality, minimizing operation costs, encouraging innovation, deepening customer relationships, and strengthening corporate cultures. In recent years risk management has turned out to be the key factor that determines the existence of financial institutions. Operational risk has become the main topic of risk management agenda especially after the occurrence of wellpublicized high impact loss event during 1990s. Amid increased size and complexity of Banking industry operational risk has a greater potential to transpire in more harmful ways than many other sources of risk. According to the last proposal by Basel Committee, commercial banks are allowed to use advanced measurement approach for operational risk.İşletmelerin anahtar süreçlerinin performansının arttırılmasında Altı Sigma metodolojisinin ve onun araçlarının kullanılması popüler bir biçimde kabul görmektedir. Bu ortamda bulunan ve ayakta kalmak isteyen işletmelerin oluşan bu dev pazarlardan bir pay alabilmek için yapmaları gereken; müşterilerinin isteklerini tamamıyla karşılamak, hatta onlara beklentilerinin üzerinde mal ve hizmetleri sıfır hatayla, en çabuk, kalitatif beklentilere en uygun ve en ucuz bir şekilde sunmaktır. Hem stratejik hem de taktiksel olarak süreçlerin gelişmesine odaklanarak Altı Sigma, kaliteyi arttırarak, maliyetleri minimize ederek, innovasyonu teşvik ederek, müşteri ilişkilerini derinleştirerek, kurum kültürlerini güçlendirerek, müşterilerin olağanüstü finansal başarılarını da sağlamaktadır. Son yıllarda etkin risk yönetimi finansal kuruluşların faaliyetlerini sürdürmelerini belirleyen en önemli etkenlerden birisi durumuna gelmiştir. Operasyonel risk finansal piyasalara yön veren kuruluşlarda özellikle 1990’lı yıllarda yaşanan büyük miktarlı kayıp olaylarıyla risk yönetimi gündeminin ilk sırasına yerleşmiştir. Diğer birçok riske göre de operasyonel risk, bankacılık sektörünün artan hacmi ve karmaşıklığı içerisinde zararlı yönleri olan büyük bir potansiyel olarak meydana çıkmaktadır. Basel komitesinin son önerisine göre de ticari bankaların operasyonel riske yaklaşımlarına dair ileri ölçümleri kullanmalarına izin verilmektedir

ÖRGÜT KURAMLARI İLE SOSYAL HİZMET İŞLETMELERİNİ ANLAMAK

Örgütsel çalışmalar alanı, örgütlerin toplumdaki diğer sosyal sistemlerle nasıl karşılıklı etkileşim içinde olduğunu, birbirlerine nasıl benzediklerini veya birbirlerinden nasıl farklılaştığını araştıran bir sosyal bilim alanıdır. Bu çalışmada, sosyal hizmet kurumlarının oluşumu, amacı ve varlığı sosyal sermaye ve sosyal girişimcilik yaklaşımları bağlamında ele alınmıştır. Bu çalışma, sosyal hizmet kurumlarının temellerinin, akademik çalışmalarda hangi kuramlar ile açıklanabileceğine dair ipuçları aramayı hedeflemektedir

Asset-Backed Securities: Turkey and World Applications

DergiPark: 453513trakyasobedKüreselleşme ile birlikteson yıllarda finansal piyasalarda yaşanan gelişmeler beraberinde birtakımyenilikleri meydana getirmiştir. Finansal varlıkların menkul kıymetleştirilereksermaye piyasalarındaki yatırımcılara satılması bu yeniliklerden en önemlisiolarak karşımıza çıkmaktadır. Modern finans sisteminin önemli bir yeniliğiolarak karşımıza çıkan menkul kıymetleştirme ile likit olmayan aktif kalemleri,likit hale dönüştürülmekte ve böylece finans piyasalarına ilave fonsağlanmaktadır. Finansal açıdan önemli bir yere sahip olan menkulkıymetleştirme, 1970’li yıllarda uluslararası finans piyasalarında meydanagelen değişimler neticesinde geleneksel bankacılığın yerine tercih edilenönemli bir olgu olarak ortaya çıkmıştır. İlk menkul kıymetleştirme uygulamaları,Amerika Birleşik Devletleri (ABD)’nde mortgage kredilerinin menkulkıymetleştirilmesi ile başlamıştır. İlk ipotek dışı varlığa dayalı menkulkıymet uygulaması ise, 1985 yılında finansal kiralama sözleşmelerinden doğanalacakların menkul kıymetleştirilmesi ile olmuştur. Günümüzde otomobilkredileri, kredi kartı alacakları, finansal kiralamada ekipman (donanım)kiraları, öğrenci kredileri, ticari alacaklar, ihracat işlemelerinden doğanalacaklar menkul kıymetleştirilen diğer aktif varlık ürünleri arasında yeralmaktadır. Bu çalışmanın amacı, yeni bir finansman tekniği olan menkulkıymetleştirme kavramının ve menkul kıymetleştirme işlemlerinden biri olanaktife dayalı menkul kıymetlerin Türkiye’deki ve dünyadaki uygulamalarınınincelenmesidir. Bu kapsamda, menkul kıymetleştirmenin işlem gördüğü sermayepiyasalarının yapısı ve bu piyasalarda işlem gören menkul kıymetler hakkındagenel olarak bilgi verilmiş, ardından menkul kıymetleştirmenin tanımı vegelişimi ele alınmıştır. Çalışmanın son bölümünde ise, menkul kıymetleştirmetürlerinden biri olan aktife dayalı menkul kıymetleştirme işlemlerinin tanımıyapılarak, aktif menkul kıymetleştirmesinin Türkiye ve dünya uygulamalarıliteratür açısından incelenmiş, konu ile ilgili önerilere yer verilmiştir.Along with globalization, developments that in financial markets havebrought some recency in recent years. The most important of these recency isthe securitization of financial assets and sale to investors in capitalmarkets. Nonliquid asset items are converted into liquid with securitization soadditional funding is provided to finance markets. Securitization, which has animportant financial aspect, has emerged as a preferred phenomenon in place oftraditional banking in the 1970s due to the changes taking place in theinternational financial markets. Initial securitization practices began withthe securitization of mortgage loans in the United States. The firstmortgage-backed securities application was the securitization of receivablesarising from financial lease agreements in 1985. Today, automobile loans,credit card receivables, equipment leases in financial leasing, student loans,commercial receivables, other assets assets securitized receivables arisingfrom export transactions are among the products. The aim of this study isanalyzing securitization which a new funding technique and analyzing theapplications of liquidity-based securitization which are one of thesecuritization transactions in Turkey and in the world. In this context;information are given about structuring of capital markets which securitizationtransactions, and in generally information are given about securitization tradedin these market. Followed by definition and development of the securitization.In the last part of the study, the definition of asset-backed securitiestransactions which is one of the securitization types has been examined and theliterature on Turkey and world applications of asset-backed securities has beenexamined and the related review and suggestion have been evaluated

Competitive priorities, employee management and development and sustainable manufacturing performance in Asian organizations

This study investigates the relationships between three dimensions of competitive priorities (customer focus, product innovation and delivery) and how Asian manufacturers manage and develop their employees and the consequent effect on sustainable manufacturing performance. Three dimensions of manufacturing performance are considered in this study—quality performance, production flexibility and operations cost. This study uses 259 datasets collected from manufacturers in four Asian countries. Structural equation modeling and mediation analysis are performed to test the relationships. Results show that there is a significant positive and mediating relationship between the competitive priority of product innovation, employee management and development, quality performance, production flexibility and operation cost. However, such significant relationships do not exist with competitive priorities of customer focus and delivery. Organizations are constantly faced with the problem of determining which competitive priorities to focus on. However, different competitive priorities have different effects on how the employees are managed and developed, and ultimately, on organizational performance and competitiveness. There is a need to focus on innovation-led strategies that relate to sustainable outcomes. This is one of the first studies in Asia to understand the multilateral relationships between different competitive priorities and different performance dimensions when employee management and development intermediate