Our study aims to shed light on the multifaceted significance of the International Standard on Auditing for Less Complex Entities (ISA for LCE). After reviewing the ISA for LCE based on agency, institutional, legitimacy and stakeholder theories, we employ the Best Worst Method and aggregate results by using arithmetic, experience-weighted and geometric means to uncover the prioritization of the criteria of audit quality from auditors’ perspectives. Our outcomes indicate that auditors prefer personal competencies over institutional efforts.
This paper examines how endogenous risk aversion affects real business cycle (RBC) model dynamics. By modeling the coefficient of relative risk aversion as a first-order linear approximation of any non-linear cyclical function of output, I find that procyclical risk aversion increases output volatility and alters labor market dynamics and consumption patterns. The model addresses some limitations of standard RBC models, such as insufficient consumption and labor volatility. This study suggests that incorporating time-varying risk attitudes can enhance macroeconomic models' explanatory power, improving their alignment with empirical observations.
The post 9/11 scholarship on secularism and religion is dominated by the multiple modernities approach.This article follows a historical-genealogical line instead for selected moments of debate on the institutional relation between state and religion in Turkey and France.I show that in fact the historical-genealogical line of inquiry provides plenty of evidence for a shared political field of secularism between France and Turkey despite their different majority religions.Part of this political field is politicians in both country-contexts quite often comparing their country with other countries and contesting each other's comparisons.I discuss the analytical and theoretical return that an interregional comparison, and documenting contested comparisons in politics as part of this interregional comparison can yield for reflecting on the main premises of the multiple modernities approach.
This article investigates the hospital market in Türkiye during a period in which a surge happened in the number of private hospitals nationwide following the inception of the reforms under the Health Transformation Program 2003-2013 (HTP).Bresnahan and Reiss's (1991) static model of firm entry is employed to estimate the market size thresholds for hospital entry in a cross-section of local districts of Türkiye for the years 2002 and 2010 which represent preand post-reforms periods.The multi-period analyses clarify the change in the hospital competition over the years, along with providing a measure to assess the overall role of the health reforms and regulations in shaping the hospital industry.
In this study, the effect of the free float ratio on dividend payout ratio, dividend yield, and paid capital increase in companies traded in Borsa Istanbul is investigated.In the study, data of companies traded on Borsa Istanbul between 2008 and 2022 were used.In the research, OLS, Logit and Probit regression analyzes and cross-table analyzes were applied.According to the results of the research, as the free float ratio increases, the dividend payout ratio and dividend yields decrease, and the probability of paid capital injection increases.As the return on assets of the companies positively affects the dividend yield, it reduces the possibility of making a paid capital increase.The growth rate of companies' sales is also a factor that increases the possibility of paid capital increase.The results of the research confirm the existence of agency costs in Borsa Istanbul.
For two decades, the now decentralized Turkish electricity market has been undergoing liberalization, similar to other electricity markets worldwide, and has essentially adopted the European market structure.Hourly electricity prices are determined by maximizing market surplus.These prices fluctuate wildly, owing to the nature of electricity as a commodity.Hourly electricity consumption data, on the other hand, exhibit a strong periodic pattern resulting from consumers' daily routines.These may be disturbed on "non-regular" days, such as weekends and holidays, making the pattern of electricity consumption less regular.We hypothesize that a low level of regularity of consumption translates into elevated price volatility.The empirical basis for this study consists of hourly electricity consumption and price data for Türkiye during 2017-2022.We perform a wavelet analysis of the consumption data in order to capture the strength, or wavelet power, of periodic patterns across time, and investigate the effect of holidays and weekends on wavelet power.These wavelet power series, quantifying consumption regularity, serve as input to regression models explaining intraday price volatility.With this novel approach, we can show, for example, that an interruption of daily routines (on "non-regular" days) leads to higher electricity price volatility.
International students are a significant resource for countries in supplying qualified young individuals who are essential for innovation and growth.For this reason, there has been competition between industrialised and several rapidly industrialising countries to attract and retain highly qualified international students.To our knowledge, this paper represents the first register evidence-based study to estimate the level of brain drain to Türkiye of non-return international tertiary graduates.Higher education graduation data and employment data of international tertiary graduates were integrated by using anonymised personal foreign identity numbers in the Education-Employment database of the Turkish Statistical Institute.The integrated dataset represents the entire universe of international graduates in Türkiye.According to the results, 6,484 individuals out of 79,234 international students who graduated from universities in Türkiye between 2012-2021 continued their working life in Türkiye.Thus the average brain gain rate of Türkiye was estimated as 8.2 per cent.The departments with the highest brain gain rate were medicine, nursing and midwifery.Graduates from the top-ranked universities such as Boğaziçi, Istanbul Technical and Yildiz Technical universities demonstrated higher retention rates compared to other universities.
This paper studies how a tightening in global capital conditions, led by the United States Federal Reserve (Fed)'s taper tantrum policy in 2013, affects small and medium-sized enterprises (SMEs) performance in Türkiye, specifically focusing on credit access, investment, and sales growth.Our findings reveal that the global tightening led to adverse effects on domestic credit conditions, resulting in SMEs experiencing their lowest credit access in 2013.As a result, SMEs' investment and sales growth experienced a significant decline with a one-year delay in 2014.However, the estimated negative effects on SME performance gradually diminished over the subsequent three years.
The purpose of this research article is to examine the effect of the Asian Financial Crisis, the Dot-Com Bubble and the European Debt Crisis on different liquidity levels related to the BIST100 index, the existence of directional predictability and to find an answer to the question of what is the sign and duration of the effect if the relevant effect exists.For this purpose, Cross-Quantilogram is used as the econometric method.According to the findings, in periods when BIST100 index liquidity is high and moderate, it is concluded that the crises have a liquidityincreasing effect and the crisis periods taken into account over the Financial Stress Indicator variable play a role in the directional prediction of the Liquidity variable.In periods when liquidity is at low levels, it is seen that the crises have a positive effect again on the liquidity level, but this time, the crisis periods are not effective in predicting the direction of the liquidity variable.
This study aimed to elucidate the competition dynamics in domestic film distribution and exhibition in Turkey throughout the last two decades.Secondary data was harnessed after an extensive retouch.Descriptive statistics and regression analysis were used to determine the effects of horizontal integration on domestic film distribution.The results showed that some dominant genres and distributors are associated with the horizontal and vertical concentration in domestic film distribution in Turkey.Findings point out that the competition dynamics are not only unfair but also incompetent, especially for the niche films linked to genres like arthouse and documentary to be distributed and screened.
This paper examines the differentiating effects of increasing socio-political risk on international tourism in emerging countries after 2013.In the recent high-risk period, the world faces not only financial but also socio-political challenges.The study demonstrates the effects of specific socio-political based uncertainty on tourism demand by using Oaxaca-Blinder decomposition analysis.This method provides the premise place of this study in the literature.The findings suggest that the increase in socio-political uncertainty in the post-2013 period acts as a decelerator in the number of tourist arrivals in emerging countries between 2013 and 2017.Therefore, although the incentives in the global market dramatically expand in the post-2013 period, the increasing socio-politic uncertainty world-wide has a large-scale negative impact on tourism demand in emerging countries.
In this paper, we envision a two-sided market mediated by a monopolistic internet service provider, ISP.The ISP provides end-users internet access and carries content providers' (CPs') data packages on its network.We compare the case where network neutrality is strictly practiced with the case where the ISP can "throttle" the traffic of certain content providers.In the model, for simplicity, a single CP is exposed to throttling, while the other CPs, which are part of a continuum, are not.We then study the implications of the violation of network neutrality on total data consumption, congestion, and capacity investment.We show that under discrimination, the ISP charges a lower price to end-users.Paradoxically, this lower price leads to lower data volume in some cases because while the lower price for end-users has an increasing effect on demand for data, lower capacity investment causes more congestion and decreases the demand for data.
In this paper, the brain drain of Information Technology (IT) graduates from Türkiye is examined on the basis of graduation departments by ISCED classification, country and gender.The register data sets belonging to a total of 63,787 IT graduates were obtained from the Ministry of Interior, the Council of Higher Education and the Directorate-General of Population and Citizenship Affairs.The brain drain ratio of Turkish IT graduates was determined as %11.4 through the data of 7,284 non-return IT graduates in the year 2020.To our knowledge, this paper is the first register evidence-based study that sheds light on the brain drain of IT graduates from Türkiye.
This study investigates the net impacts of the transformation from traditional energy generation to renewable energy generation on unemployment in developed countries.In this context, a panel data framework is used to analyze the long-run coefficients and causal relationships for the period of 1990-2021.The long-run results show that increases in renewable energy generation have a reducing effect on unemployment only in Denmark.On the other hand, Germany, Spain, the United Kingdom, and France's results indicate the opposite.Our findings decide the determinants of rising renewable energy generation and take into account its effects on unemployment.
This paper empirically tests the Turkish economy's stability between 2010 and 2016 using a small open economy New-Keynesian model featuring a positive long-run inflation rate and sunspot shock under alternative monetary policy rules.We found that the probabilities of indeterminacy are very close to unity.We can thus conclude that the economy is unstable over this period primarily because the longrun inflation rate is in the higher single digits despite the Central Bank's weak response to inflation.This drove the economy into aggregate instability.
This paper studies the wage and employment effects of the minimum wage under the presence of high informality in the labour market.The paper assesses several minimum wage incidence parameters, and analysis suggests that the choice of the minimum wage incidence parameter significantly affects the results.For assessing the credibility of different measures, the study proposes a novel approach for the minimum wage incidence, which differentiates the effects on formal and informal workers.Results suggest that minimum wage leads to an increase in formal wages, but there exists weaker evidence for a significant effect on informal market wages.There is no adverse effect of the minimum wage on total employment, but there is a transition from formal employment to informal employment.However, the increase in informal employment is partly due to increased labour force participation.Both the wage and employment effects are stronger for women, as they get paid less than men.Although the minimum wage is set for a calendar month, there exist no significant changes in the working hours of formal and informal workers.
Regular sports participation and physical activities are associated with benefits for individual wellbeing.This study investigates gender differences in sports participation in Europe.Employing Eurobarometer (88.4) survey data, this study estimates multi-level logistic regression models for sports participation.Empirical findings indicate that females are less likely to participate in sports compared to males.Sports participation is also associated with various individual-level factors such as age, education level and health status and country-level factors such as unemployment rates and geographical location.Policy makers should avoid one-fit-all frameworks and develop heterogeneous programs, especially with respect to gender, to increase sports participation.
We investigate the effects of the exam mode change -from paper-based to computer-based-on PISA on students' exam performance.This change took place in 2015 in 57 countries, while 15 countries continued to take the paper-based PISA.Using this change and the difference-indifferences estimation method, we find that the computer-based format reduced Turkish students' math, science and reading scores by 28.85, 29.52, and 39.975 points which correspond to a 5.9 percent decrease in math and science, and 8.1 percent decrease in reading scores compared to the average scores in OECD countries in the corresponding fields, respectively.We also investigate the heterogeneity of our results by gender and computer possession and show that there is no differential effect except a significantly negative impact for males in reading tests.
