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1995-2011 döneminde Avrasya ekonomilerine yapılan doğrudan yabancı yatırımların (DYY) dünya trendi ile karşılaştırılması
(2013) Tuzla, Hayri; Teker, Suat
Küreselleşen ve gün geçtikçe sınırların azaldığı dünyamızda doğrudan yabancı sermaye yatırımları, başta ekonomik büyüme ve işsizlik olmak üzere, ülkelerin birçok farklı makro verisini etkilemektedir. Mevcut araştırmalar, doğrudan yabancı sermaye yatırımlarının ekonomik büyümeyi etkilemesi yönünde güçlü bir nedensellik ilişkisi olduğunu desteklemektedir. Ekonomik büyümenin doğrudan yabancı sermaye yatırımlarınıetkilemesi yönünde ise, daha zayıf bir pozitif nedensellik ilişkisi tespit edilmiştir. Böylece, ekonomik büyümenin bir sonucu olarak, işsizlik oranlarında bir azalma beklenebilir. Bu çalışma, yedi Avrasya ülkesinin (Azerbaycan, Kazakistan, Kırgızistan, Tacikistan, Türkiye, Türkmenistan ve Özbekistan) 1995 yılından 2011'e kadar çekmiş olduğu doğrudan yabancı sermaye yatırımları trendini, hem bu ülkeler arasında hem de dünya trendi ile karşılaştırmaktadır.
5G and banking
(PressAcademia, 2021-12-31) Teker, Suat; Teker, Dilek; Orman, Irmak
Purpose- Technological developments in mobile telecommunications have evolved immensely after the transition from analog technologies that were widely used in 1980s to digital technologies connecting to globe with wireless cellular technologies. This study intends to review telecommunication technologies starting 1970s (1G technology) through 2020s (5G technology) and analyze the expected effects of 5G technology on the future of banking sector. In addition, it is envisioned how 5G technology will shape the future of the banking industry. Methodology- The study is conducted by having a comparative review of digital technology developments in the last 50 yearsThis study examines the effects of developments in communication technologies on the banking sector and banking services. The research design of this study is the relationship between the advancements in telecommunication technologies and the future of banking sector. The following section cover the comparison of 1G-2G-3G-4G-5G Technologies. Findings- 5G banking featuring video communication, data protection and digital wallets will create a permanent shift for banking customers and their habits. Globally, bank customers are adopting to digital apps as their primary touchpoint for their banks and this transformation will change the structure of bank branches as well as financial services industry. As a result of the analysis, it has been observed that an important innovation and structural transformation period has been entered in the banking sector with the use of 3G and 4G compared to the year before 2000, which we define as traditional banking era. Conclusion- With the wide use of 5G technology after year 2022, the banking sector is expected to enter a new and disruptive restructuring and service innovation. 5G is expected to carry the banking industry to another level where automation and machine-to-machine communication act as a game changer.
Adaptation of the businesses not to fall behind in the new normal period
(PressAcademia, 2020-07-30) Şerifsoy, Anıl; Teker, Suat
Purpose - This paper aims to be an exploratory study that ascertains the impacts of COVID-19 on business life and ushers further research on the subject. Methodology - Internet-based research is conducted to collect the fundamental information on the impacts of COVID-19 on business life as secondary data. Findings- It is imminently possible that COVID-19 will be a milestone in business life due to changing many things; such as working conditions, working hours, working locations, brand strategy, innovation involvement and even changing the product itself. Conclusion- This article is intended to be one of the first steps of a guide for the business owners to take appropriate action and adapt to the new normal in the future not to fall behind in the harsh conditions of the demanding markets.
Belediyelerde iç kontrol sisteminin stratejik yönetime etkisi üzerine bir inceleme
(PressAcademia, 2020-07-30) Yüksel, Mihriban; Teker, Suat
Amaç- Türkiye’de 5018 sayılı Kamu Mali Yönetimi ve Kontrol Kanununun (KMYKK) yürürlüğe girmesiyle eski kanunun aksine birçok yeni düzenleme getirilmiştir. Uluslararası Standartlar ve Avrupa Birliği kontrol mekanizmasına uygun bir iç kontrol sistemi oluşturulmaya başlanmıştır. Bu araştırma, belediyelerde meydana gelebilecek usulsüzlük ve yolsuzluk gibi olumsuz olayları engellemek ve finansal ve finansal olmayan her türlü işlemin kontrolünü sağlayarak iç kontrol sisteminin stratejik yönetim üzerindeki etkisini ortaya koymak ama cıyla yapılmıştır. Yöntem- İstanbulda yer alan 21 ilçe belediyesine ait iç kontrol eylem planları ve stratejik yönetimin temel unsuru olan stratejik planları mevzuat hükümleri ve başlıca yönetişim ilkeleri olan hesap verebilirlik, katılımcılık, açıklık ve etkinlik kriterlerine uygunluğu incelenmiştir. Verilerin analizinde dörtlü likert ölçek kullanılmış ve yorumlayıcı bir yöntemle değerlendirmeler yapılmıştır. Bulgular- Araştırma kapsamında iç kontrolün etkinliğine yönelik gerekli eylemlerin belirlendiği ancak kurumsal risk çalışmalarının yetersiz olduğu, iç kontrolün izleme bileşenine daha çok önem verilmesi gerektiği dolayısıyla stratejik yönetime etkisinin yüksek önemde olduğu tespit edilmiştir. Sonuç- Belediyelerde iç kontrol sisteminin, bir yönetim modeli olarak üst yönetici tarafından kurgulanması ve iç kontrolün 5 bileşenin koordineli bir şekilde yürütülmesi gerekmektedir. Ayrıca stratejik yönetimin bir gereği olarak iç kontrol standartları kapsamında kurumsal risk çalışmaları, prosedürlerin belirlenip kurumsal raporların yayınlanması, ön mali kontrol çalışmalarının yapılması ve kurumda iç denetçilerin çalıştırılması hususlarına önem verilmelidir. Bu sayede stratejik yönetim üzerinde güçlü bir etkisi olacaktır.
Bookkeping approaches for crypto currencies
(PressAcademia, 2021-07-30) Teker, Suat; Ergül, Yağmur
Purpose- In the New World order, we are experiencing a period in which we meet cryptocurrencies that are physically non-existent and can be transferred without public control, without the need for intermediaries. Everything that has financial value in essence is the subject of accounting. Since crypto currencies also have a financial value, they must be recorded, accounted and taxed. This study examines how crypto assets can be defined and reflected in accounting records in accordance with the definitions. Methodology- Since the concept of crypto money has started to enter commercial life in recent years, the literature resources are very limited, and there are many issues that have not yet become certain in terms of legislation, the approaches developed for the accounting of crypto currencies in this study are a suggestion. Findings- In the analysis made on the basis of current literature reviews, crypto currencies can be defined as money, other liquid assets, marketable securities, inventory or other intangible assets. The accounting transactions in accordance with these definitions are explained with the help of a hypothetical example. Conclusion- The opinion is that it would be appropriate to define crypto currencies as marketable securities in line with today's intensive usage area and acquisition purpose.
Digital era for universities: soon or far
(PressAcademia, 2023-07-30) Eşkinat, Ali; Teker, Suat
Purpose- Over the Covid-19 crises, most universities keep increasing the use of hybrid model at various levels in all disciplines in their education system forced by the market demand. This paper reviews the evolution of university generations from university 1.0 to university 4.0 using a historical point of view. This paper intends to clarify whether digital era for universities, namely University 5.0, is soon or far advocating that a large number of completely digital universities may breakout and reach everywhere in the world with no barriers of language, time and locations, and competing with local and traditional universities in all sense after year 2030. Methodology- The study employs an online survey via convenience sampling based on quantitative research method. Employers/Managers, Academics and formal University Students were selected as three target population group located all around Turkiye. The aim was to test the 5 hypotheses of this study to clarify the time of digital era for universities. Findings- The analysis reveals that the 5 hypotheses are accepted and seen as valid. The empirical results show a significant difference between the gender variable and the importance given to digital education. Moreover, there was a significant difference in the mean scores of the significance of digitalization and the importance given to digital education based on education level variable. Then, there were differences in the significance of digitalization and the importance given to digital education concerning the social status variable in the collected data. Notably, a linear and significant relationship was revealed between the importance given to digital education by participants and the importance they attributed to digitalization. Furthermore, a linear and significant relationship was found between the importance given to digital education and the importance given to university education. Under these circumstances, the results reveal that digital education is concerned as a fact of digital era and higher education institutions are not immune of this transformation. Conclusion- Based upon the analysis, it can be concluded that the traditional university system will be evolved into a digital university system in a not-too-distant future. In other words, traditional prestigious universities are expected to continue whereas digital universities appear as destructive competitors. For this reason, it may be argued that universities will increase to provide hybrid model education depending on the market demand until 2030, whereby it will be applied at different rates in education disciplines, such as of medicine, engineering, social sciences and many others. After 2030 traditional universities will continue to use blended learning whereas digital higher education institutions will start their inevitable growth.
Digital payment systems: a future outlook
(PressAcademia, 2022-07-30) Teker, Suat; Teker, Dilek; Orman, Irmak
Purpose- This study examines the development of digital payment systems with the evolution of communication technologies, financial institutions and fintech companies. Also, this study analyzes the expected effects of developing payment systems and fintech applications. Methodology- The study defines different types of digital payment systems, compares general characteristics of digital payments, provides a timeline of developments for digital payment systems and compares most used digital payment applications. Findings- The payments market is changing in line with consumer behavior. Cashless economies, mobile banking, instant payments, digital commerce, and the growing impact of regulatory agencies are a few trends affecting the payments market. Contactless payments also make the payment process easier and more convenient for consumers who benefit from shorter lines, cash-on-hand issue elimination, and faster moving queues.The Asia-Pacific region is anticipated to witness significant growth in the market such as China and India. Digital and mobile wallets account for 58% of regional e-commerce payments in the region and are expected to reach 68.2% by 2023. The e-commerce sector is witnessing a spike in demand as consumers order essential items such as food and clothes through e-commerce websites, where most consumers prefer the digital mode of payment.Transition towards the cashless economy, emergence of new online financial institutions, a decentralized monetary governance with the adoption of blockchain and cryptocurrencies are envisioned. Advancements in payment technologies as well as digital payment systems adoption will create momentum and create further investments towards digitalization of monetary exchange. Conclusion- It is concluded that evolution of digital payment systems will extend convenience, return, convergence, cross-border and timelimitless transaction. Inclusion of the unbanked is expected to drive growth and create new opportunities. There is a clear transition towards a cashless economy with the increasing adoption of digital payment systems by all spenders. Speed, privacy, convenience, security and decentralization will mean a wider inclusion for all global citizens; even including some unbanked population. Decentralization and blockchain will mean a blur in distribution of wealth, some money leaving the traditional banking systems. Digital payment systems provide a wide range of transaction options to its users; swiped credit cards, electronic checks, mobile wallets and contactless payment. By 2050s, the circulation of physical money is expected to vanish, leaving its place to virtual currencies changed on digital platforms.
Digital transformation and universities
(PressAcademia, 2022-07-30) Teker, Suat; Teker, Dilek; Tavman, Emine Başak
Purpose- This study aims to examine how digitalization has affected and changed higher education. It focuses on the current situation of universities and their current processes and what they need to do to become digital. It aims to present a roadmap for universities to integrate and organize these important changes into their strategies by examining the digital transformation that affects the vision of universities. Methodology- The study employs a literature review using secondary data analysis. Findings- The analysis reveals that the role of universities in many aspects such as society and economy has changed and is expected to change disruptively over the next decade. Universities need to make a differentiation through emerging business models in such a competitive higher education sector. Higher education institutions have to adapt to technological changes for sustainabilty. The pandemic dramatically accelerated the pace of technological adoption worldwide. The drivers of digital transformation in universiteis can be summarized as the increase compteteiveness, user experience and agility while reduction in operating expenses. Conclusion- It may be concluded that a university should be part of present technological trends and include digitalization in their strategies to be competitive in the future. Universities need to focus mainly on exploring more innovative measures to create technology development centres through research to deal with skills shortages. Universities should support those academics who lead the improvement of digital skills and innovative teaching methods, promote digital literacy in the academia and encourage the use of learning platforms. It is important to set a clear policy to adopt digital age in higher education. Universities will be competing globally for students, academic staff and funding. Adoption and implementation of new technologies in universities are inevitable.
Digital transformation in businesses: the process and its outcomes
(PressAcademia, 2022-07-30) Teker, Suat; Teker, Dilek; Örendil, Emre
Purpose- The purpose of this study is to serve as an extensive outlook about digital transformation. Its content comprises the elements of digital transformation, the ways of adapting to digital transformation, reasons for failure, means of digital transformation, and insights and discussions on new business environment. Methodology- In this study, a comprehensive literature review is followed to learn about the current business circumstances regarding digital transformation and have a deep understanding on the previous studies conducted about digital transformation. Findings- The literature review reveals that digital transformation has provided positive impract on businesses at different levels. Although challenges against digital transformation may arise, they can be tackled if the nature of digital transformation is understood well. The success of digital transformation is dependent on numerous factors from different aspect which should be studied carefully before and during the adoption of digital transformation. Conclusion- It may be concluded that the COVID-19 pandemic has accelerated the digital agenda of businesses. At first, it should be understood that digital transformation is not a mere upgrade of technology or technical equipment within an organization but requires time, curiosity, creativity, recognition of opportunities, and cultural transformation. A successful adoption of digital transformation requires the recognition of means of digital transformation, the steps for adaptation to digital transformation, the analysis of failure, the outcomes of digital transformation. The recent evolutions related to digital transformation is evident in different aspects of business. The most recent observed changes in businesses are required skills of employees, organisational culture, business models, and customer relationship management practices.
Dolaylı vergilerin Türk vergi sistemindeki yeri ve gelişimi
(PressAcademia, 2019-07-30) Bal, Barış; Teker, Suat
Amaç- Bu çalışmanın amacı, Türk vergi sisteminde dolaylı vergilerin konumunu belirlemektir. Dolaylı vergilerin toplam vergi gelirleri içindeki belirlerken, çeşitli ülkelerle karşılaştırmalar yapılmış ve dolaylı vergilerin diğer ülkelerdeki uygulama şekilleri gözden geçirilmiştir. Yöntem- Araştırmada dolaylı vergilerle ilgili istatistiki verilerden yararlanılarak, sonuca ulaşılmaya çalışılmıştır. Ayrıca toplanan vergilerin kullanılma alanları da araştırılmıştır. Bulgular- İstatistiki veriler resmi kurumların paylaşımlarından ve web sitelerinden elde edilmiştir. Elde edilen verilerin karşılaştırılmasıyla, anlamlı sonuçlar ortaya çıkmıştır. Sonuç- Yapılan araştırma sonucunda, Türkiye’de dolaylı vergilerin çok yoğun bir şekilde kullanıldığı gözlemlenmiştir. Diğer gelişmiş ülkelerle karşılaştırıldığında, bu yoğunluğun kademli olarak azaltılması ve dolaylı vergilerin bireyler üzerindeki olumsuz etkilerinden arındırılması önerilmektedir.
Dış ticaret işlemlerinin muhasebeleştirilmesi: TMS-2 stoklar, TMS-21 kur değişiminin etkileri standartları ve VUK ile karşılaştırılması
(PressAcademia, 2020-07-30) Yılmaz, Emine; Teker, Suat
Amaç- Mal, hizmet ve sermaye hareketlerinin ulusal sınırları aşmasıyla birlikte uluslararası ticaret işlemlerine taraf olan işletmeler; anlaşılır, karşılaştırılabilir ve gerçeğe uygun raporlama yapılabilmesi için muhasebe ve finans alanında ortak bir dile ihtiya ç duymuşlardır. Bu nedenle farklı finansal bilgi okuyucularının aynı sonuca varabilmeleri için mali tabloların uluslararası genel kabul görmüş muhasebe standartlarına göre raporlanması gerekmektedir. Raporlama dönemi sonunda ödenecek verginin, vergi kanunlarına göre hesaplanması gerekmekte fakat buna göre oluşturulan muhasebe kayıtları, standartlar ile örtüşmemektedir. Uygulama farklılıkları ve sonuçları bu çalışmanın konusunu oluşturmaktadır. Yöntem- Bir dış ticaret işletmesinin ithal ettiği mallar ile ilgili muhasebe kayıtları incelenmiştir. Bulgular- Yabancı para cinsinden gerçekleştirilen dış ticaret işlemlerinin, işlem tarihi ile ödeme tarihinin farklı olması halinde, işletmenin lehine ya da aleyhine kur farkları oluşmaktadır. Sonuç- Kur farklarının muhasebeleştirilmesinde uygulanan kurallar, dönem sonunda stokların değerini, dönem kârını ve ödenecek vergi tutarını değiştirmiştir.
The effects of policy rate announcements on the exchange rates
(PressAcademia, 2024-01-15) Teker, Suat; Teker, Dilek; Demirel, Esin
Purpose- Exchange rate is the value of a country's national currency against foreign national currencies. In this context, the exchange rate is considered an important macroeconomic indicator in evaluating the country's economy. The failure to control the exchange rate may damage economy significantly. It is possible to understand this from the 2001 crisis in Turkey, known as 'Black Wednesday', and the foreign Exchange crisis that started in Thailand in 1997 and affected many East Asian countries. Interest rate is one of the critical determinants affecting the exchange rates. Therefore, changes in interest rates are expected to affect the level of exchange rates. When there is an increase in interest rates, foreign capital flow is expected for that particular country. Hence, a decrease in exchange rates is expected for the excess capital flows. This study aims to analyze the relationship between exchange rates and interest rates, considering the last 10 announcements of the interest policy of the Central Bank of the Republic of Turkiye. These announcements are between January 19, 2023 and October 26, 2023. The study used the TL/USD exchange rates and 10-year government bond interest rates to measure the relationship in between these two variables. Methodology-The aim of this study is to analyze the relationship between the dollar exchange rate and government bond interest rates for Turkiye. For this purpose, data is collected for the days when the last 10 policy rates published by the CBRT were announced. Data is obtained investing.com. Vector Autoregression (VAR) is used to measure the relationship in between two variables. The VAR system is based on empirical regularities embedded in the data. The VAR model may be viewed as a system of reduced form equations in which each of the endogenous variables is regressed on its own lagged values and the lagged values of all other variables in the system. Vector Autoregressive models are widely used in time series research to examine the dynamic relationships exist in between variables that interact with one another. In addition, VAR models are viable forecasting tools used often by macroeconomic or policy -making institutions. . In this study first, the stationary levels of the variables are determined by using Unit Root Test. Second, pre-tests of autocorrelation, heteroscedasticity and normality are conducted for the validity of the VAR model. Third, the short-term relationship between variables is tested by using VAR Granger Causality Test. Fourth, VAR analysis is utilized by applying Impulse-Response Analysis and Variance Decomposition Analysis . And finally, the long-term relationship between variables is tested by using Johansen Cointegration Test. Vector Autoregressionmodel is employed in this study. Findings- According to the results of Granger Causality test, government bond interest rates strongly affect the changes of exchange rate. However, there is no causality from exhange rates to interest rates. Therefore, the changes of interest rates are the main determinants of the changes of exchange rates in this short period. The results of Impulse-Response Test show that an unexpected shock (an unexpected increase) in government bond interest rates affects the exchange rates and increases it significantly. More, an unexpected increase in the exchange rates causes the interest rates on government bond to increase. The results of the variance decomposition test show that 50% of the change in the variance of the exchange rates in the first period is explained by changes in bond interest while 30% of the change in the variance of bond interest rates is explained by the changes in exchange rates. The results of Johansen cointegration test support that there is a stable long-term relationship between dollar exchange rates and government bond interest rates. Conclusion-This study focuses on the relationship between government bond interest rates and the dollar exchange rates in Turkiye for the last 10 policy interest rates announcements by Cenral Bank of Turkiye. In summary, the changes in interest rates on bonds affect the changes in exchange rates more. Data for the days that the CBRT issued the last ten policy rates is gathered for this purpose. The association between two variables is measured using Vector Autoregression (VAR). According to overall results, the changes in interest rates on bonds affect the changes in exchange rates more.
Elden çıkarılan maddi duran varlıkların TMS-16 ve VUK açısından karşılaştırması
(PressAcademia, 2020-07-30) Ergül, Özge; Teker, Suat
Amaç- Küreselleşen dünya ekonomisinde şirketlerin ortak bir dil oluşturabilmesi ve şirket değerlerinde anlaşılabilir olmak önem kazanmıştır. Ortak dil oluşturulabilmesi muhasebe alanında, şirketler tarafından ortak standartlar benimsenerek uygulanmaya başlanmıştır. Ülkemiz tarafından bu hususta muhasebenin küresel dili olan standartlara uyum sağlama sürecine girilmiş ve uygulamalar a geçilmiştir, muhasebe standartlarına uyum sağlama konusu Avrupa Birliği süreci açısından önemli bir olgudur. Yöntem- Özellikle hizmet ve ticaret sektörü dışında kalan üretim işletmeleri gibi işletmelerin finansal tablolarında önemli bir kısmı oluşturan maddi duran varlıklar kalemlerine ilişkin uygulamalar, maddi duran varlıklara ait gerçekleştirilecek maliyet hesaplamalarının doğru bir şekilde tablolara yansıtılması, maddi duran varlıkların hangi şekilde bilanço dışı bırakılabileceği, bilanço dışı bırakılmasında kullanılan muhasebe hesapları ve kayıt düzenleri, bu işlemlerin finansal tablolara hangi şekilde yansıtılacağı konusu, finansal tablo kullanıcılarının talep ettiği bilgi ihtiyacı ile uyumlu olarak düzenlemesi yönünden önemli hususlardır. Bu çalışmada, maddi duran varlıklar konusunu kapsayan muhasebe standartları karşılaştırmalı olarak incelenmiş ve gerçek firmaların bu konu ile ilgili uygulamaları analiz edilmiştir. Bulgular- Maddi duran varlıkların elden çıkarılması konusunda, Türkiye Muhasebe Standartları 16 ve Türk vergi mevzuatında yer alan hükümler karşılaştırıldığında; elden çıkarılan maddi duran varlıkların hangi şekilde bilanço dışı bırakılacağı konusunda benzerlik ve farklılıkların olduğu görülmektedir. Sonuç- Çalışmanın kapsamında maddi duran varlık konusu kısmen ele alınmış olup, elden çıkarılan maddi duran varlıklara ilişkin var olan mevcut uygulamalar üzerinde ağırlıklı olarak durulmuş ve uygulamaya yansıyan sonuçları incelenmiştir.
Evolution of business models during the Covid-19 pandemic
(PressAcademia, 2022-07-30) Teker, Suat; Örendil, Emre
Purpose - The purpose of this study is to propose a comprehensive definition for business models, reviews and summarizes the findings of a previous work by Guckenbiehl and Corral de Zubielqui (2022) about how business models have evolved by providing insights from reshaped businesses during the COVID-19 pandemic. Methodology - In this study, an extensive literature review is followed to learn about definition of business models and how business model have been adapted or even innovated during the times of the COVID-19 pandemic. Findings - Construction of a well-planned business model is a requirement for an organization to reach success. In the times of disruptive events, business models go through adaptive or innovative changes which is a necessity for survival and further success. It is observed that organizations generate different responses to crises (e.g., the COVID-19 pandemic) in means of business model changes. The understanding of these differences is facilitated by the aforementioned work through grouping organizations in six different clusters. Conclusion - The structure of a business model prior to the COVID-19 pandemic was also one of the determinants of a business’s response to the pandemic. Businesses either made no changes in their business models, or made notable innovations, or little adaptations in response to the disruptive environment.
Financial inclusion and economic development: Turkey and Greece
(PressAcademia, 2023-02-01) Teker, Suat; Teker, Dilek; Güzelsoy, Halit
Purpose- Financial inclusion means individuals and businesses have access to useful and affordable financial products and services to deliver their needs in a responsible and sustainable way. A financial sector is measured and compared on four main features; debt is the size of financial institutions, access is the access and use of financial services by the users, efficiency is the efficiency in the provision of financial services, and stability is the stability in the provision of financial services. The purpose of this paper is to measure the level of financial inclusion of Turkey and Greece from 2000 to 2020 and compare its relationship with the economic growth and income inequality of both countries. Methodology- The World Bank data covering the 2000-2020 period is extracted from Turkey and Greece from the world bank report. The whole financial system for both countries is defined as a combination of banks, nonbanks financial institutions, and stock exchange markets. The related indicators for each of the subsectors of the financial system are determined for banks, nonbanks financial institutions, and stock exchange markets. Thus, 32 indicators for banks, 6 indicators for nonbanks, and 16 indicators for stock exchange markets are determined for the financial inclusion index. All indicators are in percentages. All individual indicators are summed for the computation of subsectoral indexes and then the growth rate in each subsectoral indexes are computed. The growth rates of each subsectoral index are summed and weighted by the subsectoral asset sizes or trading volüme. Finally, the causal relationship between the financial inclusion index, Gini coefficient, Poverty Headcount ratio, and GDP per capita was examined. Findings- The average growth rate for the financial inclusion index for the 21 years is 2,83% for Turkey and 0,97% for Greece. According to the analysis, we found that the financial inclusion index Granger-cause GDP per capita, Gini index Granger-cause financial inclusion index and there is a bidirectional relationship between the financial inclusion index and Poverty Headcount ratio for Turkey. On the other hand, there is a bidirectional relationship between GDP per capita and the financial inclusion index and a bidirectional relationship between the financial inclusion index and the Poverty Headcount ratio for Greece. Conclusion- Financial inclusion simply means a larger size of financial institutions and a variety of financial products and services available for the use of adult individuals, businesses, and governmental agencies. Economic growth is supported and accelerated by an increase in financial inclusion. The empirical analysis supports the literature that the growth in the financial inclusion index enhances a higher growth in GDP and a much higher growth in GDP per capita for both Turkey and Greece. The project titled “Istanbul as an International Financial Center” may easily improve the level of financial inclusion in Turkey.
Financial inclusion for selected OECD countries
(PressAcademia, 2023-07-30) Teker, Dilek; Teker, Suat; Güzelsoy, Halit
Purpose- Financial inclusion is defined as a process that ensures the ease of access, availability, and usage of the formal financial system for all members of an economy by emphasizing the use of accessibility and availability of financial services. A financial sector is measured and compared on four main features; debt is the size of financial institutions, access is the access and use of financial services by the users, efficiency is the efficiency in the provision of financial services, and stability is the stability in the provision of financial services. Financial inclusion, in short, is adults' access to and use of financial services. This study aims to measure the financial inclusion level for selected OECD countries from 2010-2021. Also, this study aims to estimate the effect of financial inclusion on economic growth and income inequality for selected countries. Methodology- The data used in this study cover a range of variables related to financial inclusion from various institutions, including the IMF-Financial Access Survey (IMF-FAS), the World Bank - World Development Indicators (WB-WDI), the World Bank - Global Financial Development Database (WB-GFDD) and the Standardized World Income Inequality Database (SWIID). These variables provide insights into the dimensions and determinants of financial inclusion and their impact on economic and social outcomes for selected OECD countries. In the study, we run panel data regressions for each group separately, using GDP per capita as the dependent variable to determine the impact of the Financial Inclusion Index on economic growth. We also construct two different models for each group of countries with and without the added control variables into the models. Findings- The analysis reveals that the effect of financial inclusion on economic growth is negative for all groups of countries. The impact is significant for Group 1 and Group 2. The magnitude of coefficients changes when we add control variables to the model. However, it does not change the significance level of the coefficients. The magnitude of the coefficients increases as countries’ per capita income increases. At the same time, the effect of financial inclusion on the GINI index is significant only in the model for Group 3 with control variables. The sign of the impact is negative. It implies that the GINI index decreases as the financial inclusion index increases. So, the effect of financial inclusion on income inequality is positive for countries in Group 3. Conclusion- The empirical results did not support the relationship between financial inclusion and economic growth (GDP per capita). These results may be explained by advocating the financial sector's quick and fundamental digital transformation. Hence, the rules for availability, accessibility, and usage of financial products and system are completely changed in the past ten years. On the other hand, the relationship between financial inclusion and income inequality, measured by GINI Index, is consistent with the literature only for Group 3 countries (developing countries). The increase in the gap between rich-developed and developing countries may explain these results. An increase in financial inclusion still supports adjustments in income inequality in developing countries, but its effect is disappeared in developed countries in the last 12 years.
Financial inclusion: the case of Turkey
(PressAcademia, 2021-12-31) Teker, Suat; Teker, Dilek; Güzelsoy, Halit
Purpose- Financial inclusion is defined as a process that ensures the ease of access, availability and usage of the formal financial system for all members of an economy by emphasizing the use of accessibility, availability of financial services. A financial sector is measured and compared on four main features; debt is the size of financial institutions, access is the access and use of financial services by the users, efficiency is the efficiency in the provision of financial services, stability is the stability in the provision of financial services. Financial inclusion, in short, is adults' access and use of financial services. The purpose of this paper is to measure the level of financial inclusion of Turkey for the period of 2000-2017. Methodology- The World Bank data covering 2000-2017 period is extracted for Turkey. The whole financial system of Turkey is defined to be a combination of banks, nonbanks financial institutions and exchange markets. The related indicators for each of the subsections of the Turkish financial system are determined for banks, nonbanks and exchange markets providing a continued data stream. Thus, 32 indicators for banks, 6 indicators for nonbanks and 16 indicators for exchange markets are determined for the financial inclusion index for Turkey. All indicators are in percentages. All individual indicators are summed for the computation of subsectional index and then the growth rate in each subsectional index is computed. Finally, the growth rates of each subsectional index are summed and weighted considering the subsectional asset sizes or trading volume. Findings- The highest growth years in financial inclusion of banks; 15.26% in 2002, 8.05% in 2009, and 4.42% in 2014. The lowest growth years in financial inclusion of banks; -10.36% in 2001 and -2.00% in 2008. The average growth rate for banks for the 17 year period is 2.14%. The highest growth years in financial inclusion of nonbanks; 24.47% in 2004, 28.37% in 2006, 26.34% in 2009, 53.07% in 2010, and 30.86% in 2014. The lowest growth years in financial inclusion of nonbanks; -18.74% in 2001, -22.95% in 2011 and -11.39% in 2016. The average growth rate for nonbanks for the 17 year period is 6.19%. Conclusion- Financial inclusion simply means a larger size of financial institutions and a variety of financial products and services available for the use of adult individuals, businesses and governmental agencies. The existing literature advocate that the economic growth can be accelerated by an increase in financial inclusion. The empirical analysis for Turkey supports the literature where the growth in financial inclusion index enhances a higher growth in GDP and a much higher growth in GDP per capita. The project titled “Istanbul as an International Financial Center” may easily improve the level of financial inclusion in Turkey. For a sustainable economic growth and a fair income distribution in Turkey, the policy makers and administrators should set the rules and regulations to improve the financial inclusion.
Financial performance of top 20 airlines
(Elsevier Science BV, 2016) Teker, Suat; Teker, Dilek; Güner, Ayşegül
This empricial research article intends to analyse the financial performance of the top 20 airlines in the Word for the period of year 2011 and 2014. In order to measure the financial performance of the airlines on a uniqie base, an hormonic index is propesed by considering performance areas of profitability, operating, efficiency and liquidity. Next, each performance area is defined by using a various of performance ratios. Finally, all airlines companies examined are listed by their harmonic index scores. The total assets of the 20 biggest airlines are amounted over $457 billion in 2014 and Delta Airlines with an assest size of $54 billion is the biggest ailines. On the other hand, the highest revenue generated by Luftansa in 2011, 2012 and 2013 over $40 billion per year The empricial results show that the worst scores of harmonic index refer American Airlines in 2011, Soutwest in 2012, China Eastern Airlines in 2013 and Quantas Airways in 2014, while the best scores of harmonic index point Delta in 2011, Hainan Airlines in 2012 and EasyJet in 2013 and 2014. This analysis supports that the measurement of financial performance based upon total revenuue or profitability is somehow weak and may be extented by including other indicators.
Financial performance ranking of airlines in the Covid-19 era
(PressAcademia, 2021-12-31) Teker, Dilek; Teker, Suat; Çobandağ, Melike
Purpose- The purpose of this study is to give rankings of the top 20 airlines in the world according to some financial performance indicators for the time period between years 2018 and 2020. Additionally, this study will highlight some of the financial performance indicators of this top 20 airline companies during the COVID-19 era in 2020. Airline industry is very important for modern society and it has a crucial role for globalization and businesses by connecting regions, promoting global trade and tourism and hence enabling economic and social development. Over the last two decades, the troubled airline companies were often on news delebrating financial difficulties, layouts and distrupted scheduled flights. Many well-known airline companies needed financial rescue and either received government fundings or seeked consolidation or a partnership. COVID-19 also had a crucial impact on the deterioration of the airline industry due to quarantinas and shutdowns for travel and business. Because of these reasons, it is very important to see the rankings of the top 20 airlines in the world and indicate some of the financial performance measures of these companies during the COVID-19 era. Methodology- In this study, first the top 20 airlines of the world was listed by ranking the 111 public airline companies in the world according to their total assets in 2020. The data was gathered from the REUTERS database. From again the REUTERS database, total assets, total equity, total revenue, net income, total short-term liabilities and total long-term liabilities of this 20 airline companies was obtained in terms of USD for the period between years 2018 and 2020. In addition, the number of employees and the number of aircrafts data was gathered to show some operational indicators of these same airline companies for the same term. Then the rankings of this top 20 airline companies was made considering all of these indicators and the change in the place of the rankings of airlines between years 2018 and 2020 was indicated. In this study, it was also showed whether the ranking of the airline companies according to financial performance differed in the COVID-19 era in 2020. Findings- The analysis of this study reveals that although the largest asset size was reported by Delta Airlines in 2020, the highest revenue was generated by American Airlines. On the other hand, the highest number of aircrafts were employed by American Airlines in 2018, 2019 and 2020, whereas the highest number of employees worked for Lufthansa in the same years. Although American Airlines reported to gain the highest amount of total revenues in 2020; Cathay Pacific Airlines was ranked as the number one airline company in the same year if revenue per employee and if revenue per aircraft were considered as the performance criteria. None of these airlines was ranked as one of the top three performers considering net income for the year 2020, which was the COVID-19 era. The change in the rankings of the top 20 airlines according to net income in 2020 clearly showed that in the COVID-19 era, the financial performance of the airline companies was hit hard by the economic shutdowns. Conclusion- Based upon the findings of the analysis, it may be concluded that different financial indicators must be considered together instead of solely considering total assets, total revenues or net income to analyze financial performance of the airline companies. As it was also stated by the related literature, both operational and financial indicators are important in the performance measurement of airline companies. The financial performance of the airline companies influences short and long term company decisions as well as it shapes strategic planning. Hence, a comprehensive financial performance measurement must be employed in strategic planning of airline companies.
Financial sustainability of higher education system
(PressAcademia, 2024-01-15) Eşkinat, Ali; Teker, Suat
Purpose- Financial sustainability is vital for the higher education systems in the global competitive atmosphere of the world of 2020s. This paper reviews a comparative analysis between the budgets and expenditures of the Turkish and British higher education systems, beside a view on those of the OECD countries. This paper intends to clarify Turkish higher education system’s difficulties in financial sustainability to provide required academic standards due to increasing costs and number of students versus the economic strength of significant actors such as the United Kingdom in the globalized competition. For this reason, this paper advocates cost advantages provided by the application of effective online education model to acquire financial sustainability clarifying the rise of digital universities by the 2030s. Methodology-. The study employs a literature review aiming to perform a comparative analysis on the financial structures of Turkish and British higher education systems. Moreover, OECD data were also reflected. The aim was to identify the possible difficulties of Turkish higher education system in financial sustainability to provide required academic standards in the competitive global area and find a contemporary solution. Findings- The analysis reveals that the Turkish higher education system have disadvantages in providing financial sustainability under the conditions of increasing costs as well as number of students in order to reach the required standards in the global league. Notably, it is clearly seen that efective application of online education strategy is an opportunity to balance revenues and expenditures in this way. As a matter of the fact, the effect of digital transformation era and the attitude of Generation Z students have already prepared this atmosphere. Conclusion-. Governments highly financed higher education systems after 20th Century. However, financial problems emerged due to increasing number of students and increasing costs. Eventhough the budgets had continuously been increased, Turkish higher education system have realized lower expenditures in the OECD average. Problems in financial sustainability to provide required academic standards have clearly been noticed in the global competitive atmosphere while compared with the example of the United Kingdom. Over the Covid19 crisis, universities successfully implemented hybrid education around the world increasing the effect of online systems forced by Generation Z’s perspective on embracing Digital Technologies. So, effective application of online education model appeared as a new opportunity for Turkish higher education system to provide financial sustainability decreasing costs and also efficiently compete in the global area. Indeed, blended learning in traditional universities and inevitable growth of digital higher education institutions named as University 5.0 will be seen after 2030s.

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