The Financial Performance of the Commercial Banks In Crisis Period: Evidence From Turkey As an Emerging Market

Emerging markets have been heavily affected by the global crisis due to integration with the global economy through trade and capital flows. For this reason, the findings in this paper are of great help and interest to international investors considering that Turkey is one of the major emerging markets in Europe with a linkage with international markets. The objective of this study is to identify the impacts of the financial crisis in the performances of the Turkish commercial banks by their ownership structures (private or public) over the years between 2005 and 2009 by using Grey Relation Analysis (GRA) method and to determine the financial ratios in their financial performances. The paper considers a five-year period encompassing the year of the crisis as well as two years before and after the financial turmoil. The banks, by their capital structures, are ranked based on their performances by use of the GRA method observing 14 financial ratios with respect to profitability, liquidity, active quality and capital sufficiency. Based on the findings in the paper, the performance ranking has been transformed from foreign-public-private banks before the crisis (2005-2006) to private-foreign-public banks during the crisis (2008-2009). Keywords: Financial Crisis, Turkish Banking Sector, Capital Structure, Financial Performance, Financial Ratios, Grey Relation Analysi

Starost, rast i reprodukcija lastavice balavice Chelidonichthys lucernus Linnaeus, 1758 (Osteichthtyes:Triglidae) u izmirskom zaljevu, Egejsko more, istočni Mediteran

Ukupno je ulovljeno 546 primjeraka lastavice balavice (Chelidonichthys lucernus L., 1758) na temelju mjesečnog sakupljanja koćom tijekom rujna 1999. i kolovoza 2000. u izmirskom zaljevu (Egejsko more). Vilična duljina tijela kod ženki kretala se od 12.7 do 34.4 cm, a mužjaka od 14.1 do 29.9 cm. Odnos spolova mužjaka i ženki iznosio je 1:0.52. Najveća starosna dob ustanovljena za ženke bila je 5, a za mužjake 3, dok je dužinsko-maseni iznosio za ženke W=0.0051*L3.245 i za mužjake W=0.0053*L3.237 . Vrijednosti dobivene von Bertalanffy-ijevom jednadžbom iznosile su Lt =49.09(1-e-0.186(t+1.484) ) za ženke, Lt =31.44(1-e-0.886(t+0.886) ) za mužjake, te Lt =52.12(1-e-0.163(t+1.609) ) za oba spola. Vrijednost indeksa rasta (Φ) je iznosio 2.646 za sve primjerke. Gonadosomatski indeks ukazuje da se vrijeme mriješćenja odvijalo tijekom prosinca (2.268) sve do kraja ožujka (6.158). Vilična duljina tijela zrelih mužjaka iznosila je 17.7 cm, a ženki 19.0 cm

The Relationship between Energy Efficiency and Economic Performance in G20 Countries

The relationship between the concept of energy efficiency and economic performance is a continuing debate and there is no consensus on it. The main motivation behind this paper is based on a trade-off that exists between energy efficiency and economic growth. Motivated by this trade-off, this paper investigates the long-run equilibrium relationships and causal relationships between energy consumption, economic performance (GDP per capita) and energy intensity in (G20) Countries. Panel data variables over the periods from 1992 to 2012 are employed in empirical tests. Panel cointegration tests suggest that these three variables tend to move together in the long-run. In addition, Panel Granger causality tests indicate that there is a unidirectional causality running from energy intensity to economic performance but not vice versa. Motivated by the panel granger causality findings, we estimated the energy intensity model using the fixed and the random effect model and evaluated the relationship between energy intensity, economic growth and energy consumption of (G20) countries

Neonatal Hyperthyroidism Associated with Isolated Submandibular Sialadenitis: Is it Just a Coincidence?

Isolated submandibular sialadenitis is extremely rare in the neonatal period. All reported cases had predisposing factors such as prematurity, dehydration, anatomic deformities, calculi, and long-term oro-gastric tube feeding. Here, we present a case of neonatal isolated submandibular sialadenitis without any known risk factors and who was diagnosed later with hyperthyroidism secondary to maternal Graves’ disease. Both sialadenitis and hyperthyroidism resolved with appropriate treatment. While both conditions are rare and important in neonatal emergency care, the possibility of neonatal hyperthyroidism should be explored in cases with isolated sialadenitis if there is no other risk factor. Possible mechanisms for this uncommon association are discussed

Performans Değerlendirme Yöntemleri Üzerine Nitel Bir Araştırma: Kocaeli İli Örneği A Qualitative Research on Performance Evaluation Methods: The Sample of Kocaeli Province

İnsan kaynağı, işletmelerde sürdürülebilir rekabeti sağlamada ve stratejiler doğrultusunda hareket etmede çok önemli bir yere sahiptir. İşletme, amaçlarını gerçekleştirirken insan kaynakları fonksiyonlarından, özellikle performans değerlendirmeden yararlanmaktadır. Bu makalenin amacı, performans değerlendirmesinde karşılaşılan sorunlar ile performans değerlendirme hatalarının ne olduğunu ve hangi performans değerlendirme yöntemlerinin kullanıldığını belirlemektir. Bu çalışma nitel bir araştırmadır. Veri toplama tekniği olarak yarı yapılandırılmış mülakat tekniği kullanılmıştır. Araştırmanın evrenini Kocaeli İlinde sanayi ve hizmet sektöründe faaliyet gösteren işletmeler oluşturmaktadır. Örnek kütleyi araştırmaya gönüllü olarak katılan işletmeler oluşturmuştur. Veri analizinde içerik analizi yöntemi kullanılarak sonuçlara ulaşılmıştır. Araştırmada; işletmelerde klasik ve çağdaş performans değerlendirme yöntemlerinin aynı oranda uygulandığı tespit edilmiştir. Human resources have a very important place in maintaining sustainable competition in the business and acting in the direction of the strategies. The enterprise benefits from its human resources functions while performing its objectives, especially without evaluating performance. The purpose of this article is to determine the problems encountered in performance evaluation, what performance evaluation faults are, and which performance evaluation methods are used. This study is a qualitative research. Semi-structured interview technique was used as data collection technique. The universe of research in Kocaeli and businesses operating in the industrial and service sectors. Business participating voluntarily to research the sample. The results were obtained by using content analysis method in data analysis. In the research; it has been determined that the classical and contemporary performance evaluation methods are applied in the same way in business

Multilevel Noncontiguous Spinal Fractures: Surgical Approach towards Clinical Characteristics

Study DesignThe study retrospectively investigated 15 cases with multilevel noncontiguous spinal fractures (MNSF).PurposeTo clarify the evaluation of true diagnosis and to plane the surgical treatment.Overview of LiteratureMNSF are defined as fractures of the vertebral column at more than one level. High-energy injuries caused MNSF, with an incidence ranging from 1.6% to 16.7%. MNSF may be misdiagnosed due to lack of detailed neurological and radiological examinations.MethodsPatients with metabolic, rheumatologic diseases and neoplasms were excluded. Despite the presence of a spinal fracture associated clearly with the clinical picture, all patients were scanned within spinal column by direct X-rays, computed tomography and magnetic resonance imaging. When there were ≥5 intact vertebrae between two fractured vertebral segments, each fracture region was managed with a separated stabilization. In cases with ≤4 intact segments between two fractured levels, both fractures were fixed with the same rod and screw system.ResultsThere were 32 vertebra fractures in 15 patients. Eleven (73.3%) patients were male and age ranged from 20 to 64 years (35.9±13.7 years). Eleven cases were the American Spinal Injury Association (ASIA) E, 3 were ASIA A, and one was ASIA D. Ten of the 15 (66.7%) patients returned to previous social status without additional deficit or morbidity. The remaining 5 (33.3%) patients had mild or moderate improvement after surgery.ConclusionsThe spinal column should always be scanned to rule out a secondary or tertiary vertebra fracture in vertebral fractures associated with high-energy trauma. In MNSF, each fracture should be separately evaluated for decision of surgery and planned approach needs particular care. In MNSF with ≤4 intact vertebra in between, stabilization of one segment should prompt the involvement of the secondary fracture into the system

Edremit Körfezi' nde Triglidae familyası (kırlangıç balıkları)' na ait türlerin yaş ve büyüme özelliklerinin incelenmesi

Investigation of the age and growth characteristics of the species belonging to the family Triglidae in Edremit Bay. In this study, specimens of the Triglidae family were caught monthly by trawl surveys carried out between September 1999-August 2000 in Edremit Bay, in order to determine of age and growth characteristics. During the research period, a total of 3557 individuals, 858 Eutrigla gumardus, 1822 Lepidotrigla cavillone, 262 Trigla lucerna, 43 Trigla lyra, 572 Trigloporus lastoviza was investigated. Five species were ranged from 8.5 to 22.4; 5.8-14.1; 11.3-36.4; 19.7-29.8 and 10.1-22.1 cm in fork length and 0-IV; 0-IV; 0-V; II-III; I-VI in age group.Edremit Körfezi'nde Eylül 1999-Ağustos 2000 tarihleri arasında aylık trol çekimleri sonucunda gerçekleştirilen bu çalışma ile, Triglidae familyası türlerinin araştırma bölgesindeki boy dağılımları ile yaş ve büyüme özelliklerinin belirlenmesi amaçlanmıştır. Araştırma periyodu süresince körfezden 858 Eutrigla gumardus, 1822 Lepidotrigla cavillone, 262 Trigla lucema; 43 Trigla lyra, 572 Trigloporus lastoviza, olmak üzere toplam 3557 birey incelenmiştir. Türlerin çatal boyları sırasıyla; 8.5-22.4; 5.8-14.1; 11.3-36.4; 19.7-29.8 ve 10.1-22.1 cm, yaşları ise 0-IV; 0-IV; 0-V; II-III ve I-VI arasında dağılım göstermiştir

Farmasötik azo boyar maddeler ve noniyonik yüzey aktif maddeler arasındaki etkileşimler

Amaç: Bu çalışmanın amacı farmasötik uygulamalarda sıklıkla kullanılan noniyonik YAM’ler (Tween 20, Tween 40, Tween 60 ve Triton X-100) ve Amarant (AMR) arasındaki etkileşimlerin çeştli fizikokimyasal yöntemler kullanılarak incelenmesidir.Gereç ve Yöntem: AMR’nin hidrofobisitesi farklı noniyonik mikro-ortamlarda etkileşim mekanizması, YAM’lerin geniş derişim aralığında, spektrofotometrik, iletkenlik ve yüzey gerilim ölçümleri ile araştırıldı. Bulgular: AMR’nin YAM’lerle etkileşiminin derecesi spektrofotometrik ölçümler ve Benesi-Hildebrand yaklaşımı ile hesaplanan bağlanma sabitleri (Kb) ile karşılaştırıldı. YAM’lerin AMR varlığında ara yüzeylerinde gözlemlenen değişimler Gibbs Adsorpsiyon İzotermi ile değerlendirildi. İletkenlik ölçümleri yardımıyla AMR varlığında iletkenlik oranları yardımıyla etkileşimin derecesi sayısal olarak hesaplandı. Spektrofotometrik ölçümlerle birlikte yürütülen yüzey gerilim ve iletkenlik ölçümleri ile AMR’nin YAM’lerle etkileşim mekanizması ve misele bağlandığı yer ile ilgili aydınlatıcı bilgiler sağlandı.Sonuçlar: Spektrofotometrik olarak belirlenen bağlanma sabitleri ve yüzey gerilim ölçümleri kullanılarak tahmini yüzey parametreleri AMR’nin bağlanma mekanizmasını açıklamak için kullanıldı. Noniyonik YAM’lerin yüzey gerilim ölçümleriyle izlenen yüzey özellikleri ile spektrofotometrik ölçümlerle hesaplanan bağlanma sabiti değerleri ile uyum gösterdi. Üç farklı yöntemle yürütülen bu çalışma ile AMR’nin farklı hidrofobikliğe sahip noniyonik YAM’lerle etkileşimlerinde hidrofobik etkileşimin rol oynadığı ve bu etkileşimlerin Tween 60 >Tween 40 > Tween 20 >TX100 sırasını izlediği görüldü. --------------------Objective: The aim of this work is to study the interactions between nonionic surfactants (Tween 20, Tween 40, Tween 60 and Triton X-100) and Amaranth (AMR), which are frequently used in pharmaceutical applications using various physicochemical methods at 298 K.Material and methods: Conductivity, spectrophotometry and surface tension measurements have been carried out at 298 K to study the interaction mechanism of AMR in wide range of different hydrophobic nonionic microenvironments.Results: The binding constants (Kb) of bound AMR to micelles were calculated by means of Benesi-Hildebrand Equation. The influence of AMR on surface properties of nonionic surfactants was evaluated using Gibbs Adsorption Isotherm. Using conductivity measurements, the degree of interaction was calculated as conductivity ratios quantitatively in the presence of AMR. Surface tension, spectrophotometry and conductivity measurements gave information about the interaction mechanism and binding of AMR with nonionic surfactants.Conclusion: The binding constants determined spectrophotometrically, the estimated surface properties of nonionic surfactants employing the surface tension measurements and conductivity ratios are used to explain binding mechanism of AMR. Changes in surface properties of surfactants determined by surface tension measurements in the presence of AMR are in good agreement with the binding constants determined spectrophotometrically as well as calculated conductivity ratios. As a result, it was observed that the hydrophobic interaction played a major role on the interactions of AMR with different non-ionic surfactants. The binding tendency of AMR followed the order of Tween 60> Tween 40> Tween 20> TX100