The Impact of Macro-Prudential Measures on Retail Loans: Evidence from Turkey

Following the global financial crisis, savings rate to GDP ratio in Turkey declined to severe levels. The Banking Regulation and Supervision Agency of Turkey took various macro-prudential measures to limit the retail loans in the banking sector to support the policies for increasing the savings rate. The aim of this paper is to analyze the effectiveness of these measures, thus the comparison of the growth rate of the loan types for the period of December 2010-September 2013 to October 2013-September 2015 with Welchs’ t-tests. The results of the analysis points to the success of BRSA measures with significant declines in consumer loans, namely car loans, general purpose loans and credit cards with installments.&nbsp

Gauged System Mimicking the G\"{u}rsey Model

We comment on the changes in the constrained model studied earlier when constituent massless vector fields are introduced. The new model acts like a gauge-Higgs-Yukawa system, although its origin is different.Comment: 8 pages, RevTex4; published versio

Bound state solutions of the Dirac-Rosen-Morse potential with spin and pseudospin symmetry

The energy spectra and the corresponding two- component spinor wavefunctions of the Dirac equation for the Rosen-Morse potential with spin and pseudospin symmetry are obtained. The $s-$wave ($\kappa = 0$ state) solutions for this problem are obtained by using the basic concept of the supersymmetric quantum mechanics approach and function analysis (standard approach) in the calculations. Under the spin symmetry and pseudospin symmetry, the energy equation and the corresponding two-component spinor wavefunctions for this potential and other special types of this potential are obtained. Extension of this result to $\kappa \neq 0$ state is suggested.Comment: 18 page

Knowledge levels of medical faculty students and residents about ionizing radiation

This study aimed to evaluate the knowledge levels of medical school students and residents about ionising radiation. The study is designed as descriptive research, and it was conducted with 369 medical school students and residents. A survey form was used in the research. A Chi-square test was used to compare categorical variables. In the study, 369 people were reached within the scope of the research. A total of 60.7% of the research participants were clinical medicine students (4th, 5th, 6th grade) and 39.3% were residents. A total of 42.0% of the participants of the study were male, 58.0% were women. It was found that 17.9% of the clinical medical students and 18.6% of the residents had sufficient knowledge of ionising radiation (p=0.002). A total of 87.0% of the participants in the study answered correctly that magnetic resonance imaging (MRI) does not contain radiation and 93.5% answered correctly that ultrasonography (USG) does not contain radiation. 74.8% of the participants stated that having knowledge about ionising radiation would contribute to “protecting sensitive groups from ionising radiation” in medical practice. This ratio is 77.2% in clinical medicine students and 71.0% in residents. The study found that knowledge levels of medical faculty students and residents about ionising radiation were insufficient. Medical students and residents are recommended to be trained on radiation and the radiological requests of residents to be evaluated

New Mediterranean Biodiversity Records (July 2015)

The Collective Article ‘New Mediterranean Biodiversity Records’ of the Mediterranean Marine Science journal offers the means to publish biodiversity records in the Mediterranean Sea. The current article is divided in two parts, for records of native and alien species respectively. The new records of native species include: the neon flying squid Ommastrephes bartramii in Capri Island, Thyrrenian Sea; the bigeye thresher shark Alopias superciliosus in the Adriatic Sea; a juvenile basking shark Cetorhinus maximus caught off Piran (northern Adriatic); the deep-sea Messina rockfish Scorpaenodes arenai in the National Marine Park of Zakynthos (East Ionian Sea, Greece); and the oceanic puffer Lagocephalus lagocephalus in the Adriatic Sea.The new records of alien species include: the red algae Antithamnionella elegans and Palisada maris-rubri, found for the first time in Israel and Greece respectively; the green alga Codium parvulum reported from Turkey (Aegean Sea); the first record of the alien sea urchin Diadema setosum in Greece; the nudibranch Goniobranchus annulatus reported from South-Eastern Aegean Sea (Greece); the opisthobranch Melibe viridis found in Lebanon; the new records of the blue spotted cornetfish Fistularia commersonii in the Alicante coast (Eastern Spain); the alien fish Siganus luridus and Siganus rivulatus in Lipsi Island, Dodecanese (Greece); the first record of Stephanolepis diaspros from the Egadi Islands Marine Protected Area (western Sicily); a northward expansion of the alien pufferfish Torquigener flavimaculosus along the southeastern Aegean coasts of Turkey; and data on the occurrence of the Lessepsian immigrants Alepes djedaba, Lagocephalus sceleratus and Fistularia commersonii in Zakynthos Island (SE Ionian Sea, Greece)

Bank governance and bank performance in Turkish banking industry: The analysis of static, selection and dynamic ownership effects

Turkish banking has undergone a rapid consolidation process in the forms of domestic mergers and acquisitions and foreign acquisitions. This paper analyzes the effects of corporate governance on the performance of the Turkish commercial banks, using the data from 1995 to 2008. The paper considers the static, selection and dynamic effects of domestic, foreign and state-ownership on bank performance. The results show that state-owned banks have strong long-term performance, whereas the foreign banks have poor long-term performance. The selected banks for domestic M&As and for foreign acquisitions tend to perform better. The dynamic indicators show that the merged banks show inferior performance than their counterparts

ORTAKLIK YAPILARININ FİNANSMAN KARARLARI ÜZERİNE ETKİSİ: BIST ENERJİ FİRMALARI İNCELEMESİ

ÖZ: Modigliani ve Miller’dan (1958) sonra iflas maliyeti, temsilci maliyetleri, bilgi farklılıkları ve vergi konularına dayanarak firmaların optimal sermaye yapısını ne şekilde oluşturacakları finans literatüründe çokça incelenmiştir. Bu çalışmada da amaç, 2008-2012 yıllarında Borsa İstanbul’da işlem gören ve faaliyet konusu enerji olan firmaların sermaye yapısına etki eden faktörleri incelemektir. Bu amaçla finansal kaldıracın açıklayıcı değişkenleri olarak karlılık, teminat değeri, büyüme, borç dışı vergi kalkanı, firmanın farklılığı ve bunların yanında ortaklık yapısı özelliklerinin etkisi panel regresyon yöntemi ile incelenmiştir. Çalışmanın sonuçlarına göre en büyük hissedar payı ve halka açıklık oranı ile ölçülen ortaklık yapısının finansal kaldıraç üzerinde dikkate değer bir etkisi olduğu, bunun yanında teminat değeri, borç dışı vergi kalkanı ve firma büyüklüğünün borçları pozitif yönde etkilerken, firma farklılığı ve karlılık oranının borçların kullanımında azalmaya neden olduğu görülmüştür. Anahtar Kelimeler: Sermaye Yapısı, Finansman Kararları, Ortaklık Yapısı. ABSTRACT: Following Modigliani and Miller (1958) finance literature widely analyzed how the firm chooses its optimal capital structure based on bankruptcy costs, agency costs, information asymmetries and tax. The aim of this paper is to analyze the factors that affect the capital structure of the companies that are traded in Borsa Istanbul and with the main area of activity is energy for the period 2008 and 2012. For this reason, profitability, collateral value, growth, non-debt tax shield, uniqueness and besides the impact of ownership structure are analyzed as determinants of financial leverage through the use of panel regression analysis. According to the results of the analyses, the ownership structure, that is proxied by the share of the biggest shareholder and free float rate, has significant effects on financial leverage and moreover collateral value, non-debt tax shield and firm size has positive, uniqueness and profitability ratio has negative effects on the debts of the company. Keywords: Capital Structure, Financing Decisions, Ownership Structure

Menengitis and some cytokines [Menenjit ve bazi sitokinler]

In the last 30 years, some evidence about the release of some factors other than immunoglobulins from the immune system cells which play an important role between cell interactions are found. The factors that release proteinous substances from immun system cells are called "cytokines" and cytokines are effective in each step of inflammation and immunity including differentiation of bone marrow, antigen presenting, cell maturation, expression of adhesion molecules and response of acute phase reactants cytokines are grouped as for cell origin such as; monokines if originated from mononuclear phagocytes, lymphokines if originated from T cells or grouped functionally as humoral, cellular, allergic or immunosupressive cytokines

A new species of barssia (Ascomycota, helvellaceae) from Turkey

A new species of the genus Barssia was identified from Turkey using both morphological and phylogenetic analysis of the ribosomal internal transcribed spacer region (ITS rDNA) and nuclear ribosomal large subunit (LSU rDNA) gene sequences. Macroscopic and microscopic features of the fresh samples were photographed and a diagnostic key of the genus Barssia was built considering characteristics of known species. © TÜBİTAK.Firat University Scientific Research Projects Management Unit: FBA-2017-8059 2015Z062 Türkiye Bilimsel ve Teknolojik Araştirma KurumuThe authors would like to thank the Scientific and Technological Research Council of Turkey (TÜBİTAK), 1002-Short Term R&D Funding Program (Project Code: 2015Z062), and the Çukurova University Scientific Research Projects Coordinating Office (Project Code: FBA-2017-8059) for supporting this study