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Yayın 1995-2011 döneminde Avrasya ekonomilerine yapılan doğrudan yabancı yatırımların (DYY) dünya trendi ile karşılaştırılması(2013) Tuzla, Hayri; Teker, SuatKüreselleşen 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.Yayın Venture capital and business angels: Turkish case(Elsevier Science BV, 2016) Teker, Suat; Teker, DilekVenture capital (VC) may be defined as a support to entrepreneurial talents and appetite by turning ideas and basic science into products and services which are expected to envy the world. Although venture capitalists and business angels supply external funding for risky investments, the aspects of venture capitalists and business angels are different approaching the investment candidates. Business angels in the last decade have become undispansible players providing external capital for risky start-ups and contributing technological advancements and economic growth. Business angels could be either private wealth individuals or institutional venture capitalists. Private angels invest their own money that's why their invested capacity are limited while venture capitalists invest others'money with an extensive source. This research examines the the way of doing business for venture capitalists and business angels. Furthermore, venture capital market and business angels are reviewed for the Turkish case.Yayın Financial performance of top 20 airlines(Elsevier Science BV, 2016) Teker, Suat; Teker, Dilek; Güner, AyşegülThis 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.Yayın G20: On Behalf of the Rest?(Elsevier Science BV, 2016) Teker, Suat; Yüksel, Ahmet HakanMajor developments in the last three decades have set the scene for the rise of novel problems on global scale. The unprecedented level of interdependence and interconnectedness between countries, firms and institutions has paved the way for the emergence of, both, novel practices that increase the quality of life and intriguingly complicated issues of global governance. The relationship between global actors are so intertwined that striving for predictability is barely feasible. In spite of the enhanced capabilities gained through involvement in the economic and financial value creation process, there are perils ahead for better global governance. Major issues pose global actors in terms of credibility, building and ensuring sustainability, erosion of capacity to fulfill promises and increasing fragility of financial markets as well as issues regarding depleting energy resources, environment and security. G-20 emerged as a remedial governance structure in the wake of the 2008 financial turmoil making sure that the prominent dynamic emerging countries are seated around the table. The expansion of G-8 into G-20 including the new global powerhouses has many positive implications. However, ongoing debates regarding this structure oscillate between hope and contestation. This conceptual paper intends to draw a general framework regarding the representative capability of G20 members and discuss the hybrid quality of this so called steering committee given the era of turbulence that the world is heading towards.Yayın Venture capital markets: A cross country analysis(Elsevier Science BV, 2016) Teker, Dilek; Teker, Suat; Teraman, ÖzgürVenture capital (VC) may be defined as a support to entrepreneurial talents and appetite by turning ideas and basic science into products and services which are expected to envy the world. Venture capital funds are able to build companies from the simplest form to mature organizations. Venture capital investors generally actively engage with management of the company by typically taking place on the board. Through the due diligence process the venture capital firms concentrate on the founders, the management team, the concept, the marketplace, the revenue model, the value-added potential of the firm, the amount of capital needed to heal the business and whether all these fit to the fund's objectives. Over the next three to eight years, the venture firm works with the founding entrepreneur/s to grow the company. Once a company funded by venture capital matures and becomes successful, venture funds generally exit by taking it public through an initial public offering (IPO) or by selling it to big companies. This allows the venture funds to be free from the previous investment and invest in the next generation of companies. United States, Europe, Israel, Canada, China and India have the most developed markets for venture capital environment. The size of the venture capital market is nowadays about $50 billion and the United States has the most funds for venture capital of $33.1 billion in 2013. Venture capital firms may invest in promising firms in stages of seed, first round, second round or later. The median investment amounts in the United States in 2013 are $0.5 million for seed, $2.5 million for first round, $5.7 million for second round and $10 for later stage. The most attractive sector for venture capital is information technology for the United States, Israel and Canada, invested over $10 billion in 2013, while the most attractive sector is consumer products for Europe, China and India, invested over $4.8 billion in 2013.Yayın Foreign direct investments: Asian and European transition economies(Econjournals, 2014) Teker, Suat; Tuzla, Hayri; Pala, AynurTransition economies in Asian and European region have been showing a great performance and attracting large sum of foreign direct investments in recent years. Although the foreign direct investments totaled only 500 million USD in 1992 for all these transition countries, it is around 270 billion USD as of 2011. This study investigates the trends and dispersion of foreign direct investments in these two geographically distinct regions for the period of 1992-2011. The results show that the transition economies in the Asian side look to perform better for accumulating much larger sum of foreign direct investments while the transition economies in the European side are more successful for having a higher foreign direct investments per capita.Yayın Revisiting discounted cash flows model as a capital budgeting decision tool(PressAcademia, 2020-12-31) Teker, SuatPurpose- In thisstudy, the classical discounted cash flows (DCDF) model is revisited and the input factors of the model are analysed in details. Methodology- A model analysis approach is used in this research. The fundamental assumptions and the input factors (cash flows, time period, risk, discount rate, etc.) of DCF model are questioned. Findings- NPV and IRR are two methods using discounted cash flows and oftenly applied for capital budgeting decisions. The assumptions used in the DCF analysis are very strong and not fitting well in the reality of practical life. Economic life of the project may be much longer or shorter than projected in the analysis. The computation of discount rate bases on subjective interpretations (weights of capital components, cost of debt, opportunity cost of equity). Estimation of cash flows is the most critical input of the analysis but generally the least weighted factor (CF or FCF, inclusion of only relevant cash flows, depreciation and interest expenses, installments, credit sales and purchases, etc.). Risk adjustment can be made either on the discount rate or expected cash flows. Moreover, the analysis of international capital investments makes the issue more complicated. Also, the inclusion of real options adds an economic value to the analysis. Conclusion- DCF is not straight forward a capital budgeting model anyone can easily use. The application of DCF requires expertise and a picky view on details. Nevertheless, the acceptance of capital investments utilizing DCF method can not be independent of overall company strategic goals.Yayın Estimation of Bitcoin volatility: GARCH implementation(Seventh Sense Research Group, 2020-01) Teker, Dilek; Teker, SuatAs bitcoin has been a topic of high interest for academic and professional life over recent years, a number of literature has examined its price movements, volatility, and predictions. Bitcoin is the first and perhaps the most popular cryptocurrency with a high volatility pattern compared to the other cryptocurrencies. This paper examines the models that explain the volatility of Bitcoin prices. The daily data for the Bitcoin prices are used through a period of July 31, 2017, to April 3, 2019, with a total number of observations of 484. Initially, unit root tests are implemented. Then, the heteroskedasticity problem is tested among variables. Based on the results of the heteroskedasticity test, it is decided to use ARCH models. Then, ARCH, GARCH, TGARCH, and EGARCH results are tested to find out the best fit model that explains the bitcoin price movements.Yayın 5G technology and future of banking(The Brooklyn Research and Publishing Institute, 2021-12) Teker, Suat; Teker, Dilek; Orman, IrmakThis study examines the effects ofdevelopments in communication technologies on the banking sector and banking services. In addition, it is envisioned how 5G technology will shape the future of the banking industry. As a result of the analysis, it has been observed that an important innovation and structural transformation period was lived in the banking sector with the use of 3G and before 2000, which we define as traditional banking era. It is concluded that with the expected wide use of 5G technology after year 2022, the banking sector is expected to enter a new and disruptive restructuring and service innovation.Yayın Training programs for university presidents mission indispensable(IISTE, 2014) Teker, Suat; Atan, TarıkThe evaluation and selection process of presidents/rectors of universities and other higher educational institutions has always been a very special, extraordinary, exclusive and usually confidential process regardless of which office and/or authority conducts the process. The main qualification has almost always been the academic accomplishments of the candidates and the most promising place to look for a person with the capacity for the job is within academia itself. But the tasks and challenges facing the elected or appointed presidents are greatly administrative necessitating strategy deliberation; institutional positioning, financial dexterity, social skills, fund-raising capacity and leadership. This shift of overlap presents an unexpected and compelling issues both from the perspective of the candidate (or appointee) and institution. Addressing these issues is never easy and institutional pressures do not permit the luxury of learning on the job. Consequently, new educational schemes become available aimed directly the new elected or appointed position owners. This study investigates the training programs for elected and/or appointed president/ rectors as well as aiming the potential candidates. Some training programs are examined and compared by their perspectives, approach, duration, and content. And a new approach for training presidents of the educational institutions discussed.
