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ABTRACT: Discussions on globalization began to get strength particularly after the collapse of Eastern Bloc. Despite the fact that there were some attempts before 1990s to conceptualize globalization, it became one of the distinguished fields of study in social sciences 1990s onwards. In the last two decade it has been produced a vast amount of works on globalization, and in line with each attempt, there emerged lots of different viewpoints on globalization. One of the most important issues that lead to differentiation in perception of globalization is undoubtedly ideological charging on the term. In this short paper, without becoming ideologically pro- or anti-, it will be attempted to present a proposal that how globalization could be conceptualized within a common context.

This paper examines the importance of revenue surprise in the cross-section of stock returns in Borsa Istanbul. Portfolio-level analyses and multivariate cross-sectional regressions document a statistically and economically significant positive relation between revenue surprise and expected returns. Average excess and abnormal return spreads between equities in the highest and lowest revenue surprise deciles are more than 1% per month. The findings of the paper are robust when well-known firm-specific attributes including earnings surprise are controlled for.

This paper shows that discounted cash flow and net present value, which are traditional investment valuation models, can be combined with artificial neural network model forecasting. The main inputs for the valuation models, such as revenue, costs, capital expenditure, and their growth rates, are heavily related to sector dynamics and macroeconomics. The growth rates of those inputs are related to inflation and exchange rates. Therefore, predicting inflation and exchange rates is a critical issue for the valuation output. In this paper, the Turkish economy’s inflation rate and the exchange rate of USD/TRY are forecast by artificial neural networks and implemented to the discounted cash flow model. Finally, the results are benchmarked with conventional practices., Bu çalışmada geleneksel yatırım değerleme metotlarından olan indirgenmiş nakit akım ve net bugünkü değer modeli ile yapay sinir ağları modelinin tahmin etme özelliğinin birleştirilmesi analiz edilmiştir. Değerleme modellerinin temel bileşenlerinden olan satış gelirleri, maliyetler, yatırım harcamaları ve bunların yıllar içerisindeki büyüme oranları sektörel dinamikler ve makroekonomik faktörlerle yakından ilişkilidir. Bununla birlikte, enflasyon oranı ve döviz kurları bu bileşenlerin değişim oranlarını etkilemektedir. Dolayısıyla enflasyon oranını ve döviz kurlarını tahmin etmek değerlemenin sonucu açısından kritik bir önem taşımaktadır. Bu çalışmada Türkiye enflasyonu ve USD/TRY döviz kuru yapay sinir ağları modeli ile tahmin edilmiş ve bu değişkenler indirgenmiş nakit akım modeli içerisine yerleştirilmiştir. Bu modelin sonuçları geleneksel yöntemler ile karşılaştırılmıştır

The COVID-19 Pandemic has affected all the economies globally. In order to reduce the adverse effects of the pandemic on the economy, governments have resorted to fiscal policies and monetary policies as they did in the 2008 Global Financial Crisis. In this framework, the most common policy that is conducted by the central banks has been quantitative easing again. The adverse effects of the monetary policies have been relatively low in developed economies since the monetary expansion was accompanied with fiscal policies such as transfer payments. However in Turkey, the negative effects on inflation and exchange rates arose due to the huge expansion in money supply and credits as the fiscal policies were limited. The aim of this study is to assess the effectiveness of the Central Bank policies and the financial measures taken in Turkey after the emergence of the pandemic crisis. The paper presents the policies of the Central Bank of Turkey and their results with international comparisons and provides recomendations., COVID-19 Pandemisi tüm dünya ekonomilerini etkilemiştir. Salgının ekonomi üzerindeki olumsuz etkilerini azaltmak için hükümetler 2008 Küresel Finansal Krizinde olduğu gibi para ve maliye politikalarına başvurmuştur. Bu çerçevede, merkez bankalarının en yaygın olarak uyguladığı politika yine parasal genişleme olmuştur. Gelişmiş ekonomilerde, parasal genişlemeye transfer ödemeleri gibi maliye politikaları eşlik ettiğinden, para politikalarının olumsuz etkileri nispeten düşük olmuştur. Türkiye'de ise, maliye politikalarının sınırlı olması ve para arzı ve kredilerdeki aşırı genişleme sonucunda enflasyon ve döviz kurları üzerinde olumsuz etkiler ortaya çıkmıştır. Çalışmanın amacı, pandemi krizinin ortaya çıkmasından sonra Türkiye'de uygulanan Merkez Bankası politikalarının etkinliğini ve alınan finansal önlemleri değerlendirmektedir. Çalışma, Türkiye Cumhuriyet Merkez Bankası'nın politikalarını ve sonuçlarını uluslararası karşılaştırmalarla sunmakta ve önerilerde bulunmaktadır.

This paper compares from a political economy perspective the financial crisis that broke out in Japan after 1991 and in the US during 2007-2009. Common features of both crises are the initial deregulation in the financial sector and the burst of the consequent asset price bubble. The institutional structure shaped by government interventions in Japan was unable to overcome the crisis and the subsequent long recession while the US government responded relatively quickly to the crisis. This paper comparatively evaluates the causes of the crises from the political economy perspective.

The effect of a change in monetary policy on output operates through monetary transmission channels. The transmission channels of monetary policy may be gathered in five main titles: interest rates channel, asset prices channel, exchange rate channel, credit channel (bank lending channel, balance sheet channel) and expectation channel. Findings obtained from the analysis of the transmission channels can be used in policy determination. This paper empirically analyzes the bank lending channel, one of the transmission mechanisms of monetary policy in Turkey. In this paper, data between 1996:06-2006:09 are examined using VAR methodology. According to the findings, the credit channel in Turkey operates partially.

This paper provides a description of We Can Resolve Our Conflicts education program designed to prevent and reduce aggression in elementary school students and an overview of its theoretical and empirical foundations. The program was based on the theories of empathy, anger control, social information processing, and constructive conflict resolution. Effectiveness of the program was also examined by two empirical studies. The program aims active participation of the students therefore materials interesting for children such as stories, photos, cartoons, posters, films and different techniques such as pen and paper activities, class discussions, plays, role-plays, drama are utilized in the program. Studies examining the effectiveness of conflict resolution education programs have suggested that social and emotional skills can be taught and aggression can be reduced by these acquisitions.

This paper surveys the theoretical principals of the capital account liberalization and evaluate the literature on the effects of capital account openness on economic growth. Following the evaluation of literature, various measurements of capital account liberalization are discussed. After reviewing various measurements it can be seen that most countries have, to a great extend, opened their accounts to capital flows. But this paper shows that the empirical studies failed to provide evidence that there is a strong and prominent effect of capital account liberalization on economic growth. Despite the empirical studies, experimental studies analyzing the developments after liberalization in countries found that opening the capital account has an important effect on GDP.

The economic theory of regulation has been around since 1970s. Chicago school economists were pioneers in this new research area. After 30 years, economics of regulation is no longer under the monopoly of the Chicago economists. Chicago approach begins with the assumption that politicians and bureaucrats also follow their self-interests. Stigler, Peltzman and others study the regulatory processes under this new framework. Beginning with 1980s, two alternative schools developed theories of regulation: Public choice school and the market process theory. Public choice theory begins with Tullock and Buchanan's works, and rejects public interest arguments like Chicago school. However, it uses mostly neo-classical toolbox and carries the same problems of static competition theory. A different approach to regulation comes from the Austrian school. The goal of this paper is to discuss the relevance of the market process theory for the economics of regulation. To begin with, is discussed the nature of the market process theory. Then, is analyzed the market process approach to regulation. The paper ends with an assessment of the market process theory's implications over regulatory issues.

In a recent paper by authors (Ziarati and Ucan, January 2001) a Back Propagation-Artificial Neural Network (BP-ANN) was adapted for predicting the required car parts quantities in a real and major auto parts supplier chain. It was argued that due to the learning ability of neural networks, their speed and capacity to handle large amount of data, they have a potential for predicting components requirements and establishing associated scheduling throughout a given supply chain system.This paper should be considered a continuation of the first paper as the neural network approach introduced in this paper replaces the BP-ANN by a new method viz., Genetic Cellular Neural Network (GCNN). The latter approach requires by far less stability parameters and hence better suited to fast changing scenarios as in real supply chain applications.The model has shown promising outcomes in learning and predicting material demand in a supply chain, with high degree of accuracy.

In this paper, Soft Systems Methodology SSM , quite a recent development in Systems Engineering, is reviewed briefly. First, a historical background on Systems Engineering that led to the emergence of this area is provided. Here, the limitations of 'Hard' Systems Engineering in dealing with ill-structured socio-economic problems are summarised, and the reasons for SSM becoming a relatively more 'successful' approach are given. The paper is concluded by a review of the SSM Methodology., Bu makalede Sistem Mühendisliği konusunda en son gelişmelerden birisi olan ‘Soft Systems Methodology SSM ’ konusu kısaca incelenmektedir. Öncelikle, SSM’ in oluşumunu hazırlayan koşullar Sistem Mühendisliğinin kısa bir tarihçesi içinde sunulmaktadır. Burada ‘‘Hard’Systems Engineering’’ yaklaşımının kolaylıkla formule edilemeyen sosyo-ekonomik problemlerin çözümündeki yetersizlikleri özet­lenmektedir. Daha sonra, sosyo-ekonomik problemlerin çözümünde SSM’ in niye daha başarılı olabileceği tartışılmakta ve SSM Metodolojisi ana hatlanyla anlatıl­maktadır

This paper presents the annual increase in the Gross National Product (GNP), which makes countries powerful, provides the social and ecenomic welfare of a country's people and enables the economic development by means of a continuous increase in production each year, over consumption. It also explains the topic of investment analyses which includes stages of preparation of investment projects considering domestic and international markets; examples from Turkey and from various other countries are given. It is also stated in this paper that the most important reason for the economic and the social bottleneck thatTurkey has been going through today is the extravagancy and the expenses made for years without any detailed investment analyses or any kind of plans or programs. In addition to these, an overview of the Turkish economy and its bottlenecks in 1999 have been given in this paper.

Bu çalışmanın amacı "Öğrenci-merkezli" bir yabancı dil eğitim programının, öğrencilerin okuma ve yazma gibi temel birtakım dil becerilerinin gelişmesine yardımcı olmasının yanısıra, öğrenme sorumluluğu alma ve bağımsız çalışma yetilerinin arttırılması üzerinde de olumlu etkileri olabileceğine dikkat çekmektir. Bu fikir Doğuş Üniversitesi’nde birinci sınıf öğrencilerine verilen İngilizce -2 dersi örneği üzerinde anlatılmaktadır. Bu derste öğrencilere akademik standartlara uygun bir proje çalışmasını tamamlayabilmek için seçtikleri konu üzerinde araştırma yapmak, bilgi toplamak, not tutmak, özetlemek ve analiz edilen bilgilerden bir sentez oluşturmak gibi bir takım öğrenme deneyimleri kazandırılması amaçlanmaktadır. Çalışmanın oldukça önemli bir kısmı ders dışı zamanlarda, öğrencinin kendisi tarafından yürütülmektedir. Bu dersi alan birinci sınıf öğrencilerinin İngilizce ve akademik standartlara uygun araştırma yapma becerilerinin yanısıra, üniversite öğrencisi olmanın temel özelliklerinden olan öğrenme sorumluluğunu alma ve bağımsız çalışma yetilerini de geliştirdiği fikri benimsenmiştir. This paper aims at assessing the role of a "Learner-centred" approach in language teaching on the development of learner autonomy. It is argued in this paper that a foreign language course designed with a learner-centred focus not only helps learners increase their competence in the use of the language but also allows them to develop some strategies on "learning how to learn". This, in effect, promotes the development of learner autonomy and encourages students to take responsibility for their own learning and to become independent learners, the two important requirements of university education. This is illustrated through the design of a model course, namely English -2, offered to freshman year students at Doğuş University. This course takes students through the stages of conducting academic research and presenting the findings of their research in the form of a written project which appropriately fulfills academic standards. The design of the course requires much of the work to be done outside class and by the learners themselves. Hence, this paper develops the idea that students who take this course increase their confidence in working on their own as well as learning to take the responsibility for their own learning, which are the two major demands of academic study in university education.

The objective of this paper is to test the Efficient Market Hypothesis(EMH) for countries at different economic development levels. The FTSE CountryClassification was used to reveal the economic development of 17 developed and 12emerging markets. The sampling period is between 2005 and 2013. In order to testmarket efficiency, Portmanteau Q test, the runs test, the single and multiple varianceratio (VR) tests were used. The results show that the weak-form market efficiency isbecoming prevalent in the Advanced Emerging markets. The striking finding of thepaper presents that the market efficiency is associated with the market evolution. Asthe economies and markets of countries evolve and meet the criteria for promotion toupper country classification, they become weak-form efficient. Further, the findingsreveal the facts that the markets which suffer from severe financial and political crises,or belong to low ranked emerging markets are unlikely to be efficient.

This paper aimed to understand how market orientation affects family business performance that can build organizational capabilities in changing and emerging market. This research is based on a survey of 840 participants from family businesses in Turkey. The findings revealed that market orientation positively contributed to organizational capabilities. Another purpose of the study is the mediating effects of organizational capabilities on the association between market orientation and firm performance. So, findings showed that entrepreneurial capability is significantly mediated. As a result, all hypotheses revealed in the research are supported., Bu araştırma değişen ve gelişen pazar koşullarında pazar odaklılığın aile işletmelerinin örgütsel yetenekler geliştirebilmesini ve firmanın performansını nasıl etkilediğini anlamayı amaçlamıştır. Çalışma anket yöntemiyle Türkiye’ de aile işletmelerinde çalışan 840 kişi ile yapılmıştır. Sonuçlar pazar odaklılığın örgütsel yeteneklerin gelişimine pozitif katkı sağladığını ortaya koymaktadır. Çalışmanın diğer bir amacı örgütsel yeteneklerin pazar odaklılık ve firma performansı ilişkisi üzerinde aracı etkisini araştırmaktır. Girişimcilik yeteneğinin etkin bir şekilde aracı değişken olduğu görülmektedir. Sonuç olarak araştırmada ortaya konulan bütün hipotezler desteklenmiştir

The concept of market knowledge absorptive capacity AC is one of the dynamic capabilities that a firm has which is crucial for market success of the organization. However, the effect of market knowledge AC on the firm innovativeness i.e. product and process and the impact of dynamic rules of action embedded in organizational structure and behaviors on this capacity is interestingly missing in the AC literature. By investigating 241 firms, this paper indicates that a dynamic rules of action are positively associated with market knowledge AC variables, b market knowledge AC is positively related to firm innovativeness, c firm innovativeness is positively associated with firm performance. In addition, we show that market knowledge AC influences firm performance via firm innovativeness., Pazar bilgisi özümseme kapasitesi bir firmanın pazar başarısı için önemli olan dinamik yeteneklerinden biridir. Ancak ilginç olarak pazar bilgisi özümseme kapasitesinin firma yenilikçiliği üzerindeki etkisi ve örgütün yapı ve davranışlarında gömülü olan dinamik örgütsel kuralların bu kapasite üzerindeki etkisi literatürde incelenmemiştir. Bu çalışma 241 firmayı analiz ederek a dinamik örgütsel kuralların pazar bilgisi özümseme kapasitesini oluşturan her bir değişken ile pozitif ilişkili olduğunu, b pazar bilgisi özümseme kapasitesinin firma yenilikçiliği ile pozitif ilişkili olduğunu ve c firma yenilikçiliğinin firma performansı ile pozitif ilişkili olduğunu göstermektedir. Ayrıca, pazar bilgisi özümseme kapasitesinin firma performansını firma yenilikçiliğinin aracılığıyla etkilediği de gösterilmektedir

Acquisitions are assumed to create value for both the target and the acquiring firm. This paper analyzes the sources of value creation in acquisitions and examines the domestic acquisitions that took place in Turkey in 2013. By taking the overall market considerations into account, I measure the degree of value creation over different periods of time. I use the standard market value technique to calculate abnormal returns in stock prices of the acquiring firms and find that the increase in firm value is statistically significant in the long run but not in the short run., Şirket satın almalarının hem satın alan hem de satılan firmanın piyasa değerini arttırdığı varsayılır. Bu makalede, Türkiye'de 2013 yılında gerçekleşen yerli satın almalar, piyasaların genel trendini de göz önünde bulundurarak incelenmiştir. Standart Piyasa değeri tekniğini kullanarak, satın alan firmanin hisse senedi fiyatlarındaki anormal getiriler hesaplanmıştır . Satın almanin açıklandığı tarih öncesi ve sonrasının karşılaştırılması sonucunda, firma değerindeki artışın uzun vadede istatistiki olarak anlamlı olduğu, fakat kısa vadede anlamlı olmadığı bulunmuştur

The popularity of Comparative Political Science, as a sub-discipline of the Political Science, is on a continuous increase today. This discipline receives many attentions as it provides detailed knowledge on politic systems of various countries. The historical background of such an area, which is drawing more and more interest in our day, is traced back to very old eras. The first political system classification made in the Comparative Political Science appeared in the Ancient Greek era. For this reason, the objective of this paper is to analyze, within frameworks of certain philosophers, the political system classifications in the era of Ancient Greece, which was included in the western political thinking. Firstly the basic concepts of Comparative Political Science and political system are touched upon, and then political system classifications are analyzed with examples of Herodotus, Plato and Aristotle.

This study aims to explore the influence of Human Resource Management (HRM) activities and organizational climate on corporate innovativeness level in United States of America. The data is collected through interviews from 546 employees in US. The study first examines the relative influence of seven HRM activities of i) behavior and attitudes (in recruitment and selection) ii) teamwork iii) extensive training, iv) written policies, (v) training in multiple functions vi) performance appraisal and incentives, vii) feedback on innovativeness level. Secondly, the influence of five factors relating to organizational climate are examined. The second group factors are i) support for innovation, ii) workload pressure, iii) cohesion, iv) organizational boundaries and v) organizational ethics. The paper presents the influence of the two groups of factors on corporate innovativeness level.

This paper, emerging from base broadening hypothesis, investigates whether the foreign transactions have an affect on the security returns in ISE. The cointegration relationship between two variables has been analyzed by the bounds testing approach developed by Pesaran et. al.(2001) and ARDL models using the monthly data of 1997:01- 2009:12. As a result, a positive relationship has been detected between the foreign transactions and returns of shares in the long run. However, the same relationship is insignificant in the short run. This finding can be interpreted as the validity of base broadening hypotesis in long term in ISE.

To overcome the ambiguity about the content of the concept of modernity, the concept should be analyzed in two stages. First, the concept of modernity denotes the renunciation of the past, the appreciation of the new, and the celebration of the idea of progress. Second, the concept of modernity implies a rationalist and universalist worldview, whose rise was coincident with Descartes’ rationalist epistemology. This paper examines both historically and philosophically the content of the concept of modernity and intends to elucidate what modernity is and why it has recently been criticized.

In last few years, high service value has become a distinguishable characteristic for firms which provide similar services with similar prices. If the firms provide the services with high service value, then they can be the leader among their rivals. In this paper, a part of Cronin et. al’s (2000) model is used and the effects of service value on behavioral intentions have been analyzed. The model is a structural equation model with three variables which are sacrifice, service value, and behavioral intention. For analyses SPSS 13.0 and LISREL 8.8 programs were used.

The paper empirically examines relationship between trade openness and inflation in Pakistan using annual time-series data for the period 1947 to 2007. The empirical analysis shows that a positive relation holds between trade openness and inflation in Pakistan. The results are robust to controlling for other inflation determining variables and performing sensitivity analysis. Flexible exchange rate regime and an increase in the level of development inflate domestic inflation. Other control variables i.e. money supply, fiscal deficit, exchange rate depreciations, foreign inflation, terms of trade, foreign debt and democracy significantly affect inflation in the expected directions., Bu çalışma, 1947–2007 dönemini kapsayan yıllık veriler kullanılarak Pakistan’da dış ticaret alanında dışa açıklık ile enflasyon arasındaki ilişki ampirik olarak incelenmiştir. Ampirik analiz sonuçları, Pakistan’da dışa açıklık ile enflasyon arasında pozitif bir ilişki olduğunu göstermektedir. Sonuçlar, enflasyonu belirleyen diğer değişkenlerden ve duyarlılık analizlerinden etkilenmemektedir. Esnek kambiyo rejimi ve gelişme düzeyindeki artış yurtiçi enflasyonu artırmaktadır. Diğer kontrol değişkenleri olan para arzı, mali açık, döviz kurunun değer yitirmesi, dış enflasyon, ticaret haddi, dış borç ve demokrasi enflasyonu beklenen yönde anlamlı bir şekilde etkilemektedir

Most of the empirical papers researching the validity of Okun’s law have been assumed a symmetric relationship between change of unemployment and real output growth. However, the effect of real output growth on unemployment may be different in growth cycles expansion and contraction periods. This assumption which assumes a asymmetry in Okun’s law has been verified in the recent studies. In the study, whether Okun’s relationship is symmetric or not has been investigated for Turkish economy in the period 1950-2007 using annual time series data. Co-integration analyses including TAR and M-TAR models have been used to test the asymmetric relationship. The findings of the study have shown that Okun’s law is valid in the long run and this relationship is asymmetric for the Turkish economy.

The paper considers a variable structure extremum problem with constraints for delay discrete inclusions. The necessary extremum conditions are obtained for the considered problem. Keywords: Discrete Inclusion; Necessary Extremum Condition; Subdifferential; Lipschitz Condition; Tangent Cone; Hypertangent cone, Makalede gecikmeli diskret içermeler için kısıtlamalı değişken yapılı ekstremum problemi araştırılmaktadır. Ele aldığımız problem için gerekli ekstremum koşulları bulunmuştur. Anahtar Kelimeler: Diskret İçerme; Gerek Ekstremum Koşulu, Altdiferansiyel, Lipschitz Koşulu, Teğet Koni, Hiperteğet Koni

This paper examines the relationship between trade volume and Istanbul Stock Exchange composite index (ISE-100) return volatility for the period 1990-2008 by including the trade volume and the day of the week effect in to the GARCH, EGARCH and TGARCH models. The findings indicate the presence of the day of the week effect and leverage effect on return volatility. The estimation results of the GARCH and TGARCH models show that the effect of trade volume on return volatility is significant in the statistical sense but not positive. These findings provide strong evidence against the validity of Sequential Arrival Information and Mixed Distribution hypothesis in ISE.

In this paper, it is tried to predict the market shares of the largest three companies in the white goods sector in Turkey through the use of the analytic network process. These companies are highly competitive in the white goods sector. To attract new customers and to retain the current ones, they have to compete by setting reasonable prices, produce high quality products and expand their service networks. In line with the sequence of analytic network process, first of all, an estimation of market share problem has been structured and modeled. Next, it is assessed the importance of the factors affected the market share and it is estimated the market shares of the white goods companies in Turkey using analytic network process. The estimated market share values have been compared with actual ones for the validation of the decision model.

The goal of this paper is to precisely examine the relationship between the attractiveness of organizational identity and strength of identification, and how perceived trust underlines such a possible effect of identity attractiveness on organizational identification OID . A total of 545 public and private bank employees attended the study. Participants completed measures of organizational identification, organizational trust, and attractiveness of perceived organizational identity. Structural equation modeling and LISREL8.30 Jöreskog and Sörbom, 1993 was used to assess the research model. The findings show that the relationship between attractiveness of perceived organizational identity APOI and identification is mediated by trust, and identity attractiveness does not directly influence the identification strength., Bu çalışmanın amacı çalışanların algıladıkları örgütsel güven, örgütsel kimlik ve örgütsel özdeşleşme arasındaki ilişkiyi tespit etmek ve örgütsel kimlik algılamasının, örgütsel güven aracılığıyla örgütsel özdeşleşmeye yol açtığını öneren bir model önerisi sunmaktır. 545 kamu ve özel sermayeli ticari banka çalışanları üzerinde görgül bir çalışma yapılmıştır. Araştırma modeli testi için yapısal eşitlik modeli ve LISREL8.30 Jöreskog ve Sörbom, 1993 istatistik programı kullanılmıştır. Bu çalışmaya göre algılanan örgütsel kimliğin özdeşleşme üzerinde doğrudan etkisi söz konusu değildir. Algılanan güvenin, algılanan örgütsel kimliğin çekiciliği ve özdeşleşme arasında aracı etki yaptığı sonucuna varılmıştır

In this paper we estimate the effects of inflation uncertainty on output gap in Turkey using monthly data for the 1986 - 2006 period. Since it includes both high and low inflationary periods, the said period offers a good sample for assessing the effects of uncertainty on output. The results suggest that inflation uncertainty had negative and statistically significant effects on output both in high inflation and disinflation periods. Our findings imply importance of stabilising inflation at low levels for economic growth.

In many data sets some value of variables cannot be recorded. In these cases, the analysis is carried on by ignoring the variables which have missing observations but if these observations are important for the research; their extraction causes the loss of information. There are many studies about missing data in factorial designs, ANOVA, sampling survey studies and multivariate analysis, etc. In this paper we used mean imputation and regression imputation methods to estimate missing observations of countries which are the members of OECD. Then by using multivariate statistical methods, classification of countries according to their attention level of infant health and determination of their location in multidimensional space are aimed. Also, depending on the arrangement of Turkey in OECD countries, results are interpreted for Turkey and determined its place in OECD countries.

This paper investigates relationship between economic growth and electricity consumption for Turkey over the period 1974-2004. As economic growth and electricity consumption variables used in empirical analysis was different order of integration ( I(0) and I(1) ) we employed bound test approach. We found cointegration relationship between the variables and in short run there is positive relationship between the variables however in long run there is negative relationship.

This paper analyzes the accuracy of budget forecasts in Turkey. Data is based on 23 years' forecasted and materialized general budget revenues and outlays, from 1981 to 2003. One sample statistics, tabulated, and one sample t tests are applied to find out the accuracy of forecasting and the results show that there are statistically significant forecast errors and this significance, especially, indicates biases towards under-forecasting of outlays and over-forecasting of revenues., Bu çalı ma ile Türkiye’de bütçe tahminlerinin do rulu u analiz edilmektedir. 1981-2003 dönemine ait 23 yıl için kullanılan veri, gelir ve harcamalara ili kin tahmin edilen ve gerçekle en genel bütçe verilerine dayanmaktadır. Tek örnek istatisti i ve tek örnek t testi kullanılarak bütçe tahminlerinin do rulu u ara tırılmaktadır. Elde edilen ampirik bulgular bütçe tahminlerinde tahmin hataları yapıldı ını ve bu hataların istatistiksel olarak gelir tahminlerinde fazla gelir tahminine, harcama tahminlerinde ise dü ük harcama tahminine yönelik bir e ilim olduğu şeklindedir

The electromechanical overcurrent protection relays are designed to operate with sinusoidal current. The operation of protective relay with harmonic currents is not reliable. The literature on harmonics and relays covers mostly the theoretical studies. In this paper, the harmonic effects on operation of electromechanical inverse time overcurrent relay ITOCR were examined. Not common in existing studies, the behaviour of ITOCR was analysed with laboratory experiments for distorted waveforms. A type of induction disc relay was used as an electromechanical ITOCR in the experiments. The non-sinusoidal load currents that consist of different harmonic spectra were applied to ITOCR and these nonlinear-load currents were processed by a data acquisition card and a harmonic analysis programme in the computer environment. According to the experiment results, the pick up current and the operating time of the ITOCR increase proportionally to the total harmonic distortion THD value of the non-sinusoidal current. It is concluded that, this type of relay cannot protect the system reliably due to the harmonic components of current., Elektromekanik a ırı akım koruma röleleri sinüsoidal akım altında çalı mak üzere tasarlanmı tır. Bu rölelerin harmonikli akımda çalı maları güvenilir de ildir. Literatürde harmonikler ve rölelerle ilgili pek çok teorik çalı ma bulunmaktadır. Bu makalede, harmoniklerin elektromekanik ters zamanlı a ırı akım rölesinin TZAAR çalı masına etkileri incelenmi ve TZAAR’nin bozulmu dalga ekilleri için davranı ı deneysel çalı ma ile analiz edilmi tir. Deneyde, elektromekanik TZAAR olarak, indüksiyon disk yapısında bir röle kullanılmı tır. De i ik harmonik spektrumlara sahip, sinüsoidal olmayan yük akımları TZAAR’a uygulanmı ve bu yük akımları data toplama kartı ve harmonik analiz programı ile bilgisayar ortamında i lenmi tir. Deney sonuçları gözönüne alındı ında, TZAAR’ın çalı ma akımı ve çalı ma zamanının, sinüsoidal olmayan akımın toplam harmonik distorsiyonu THD ile orantılı olarak arttı ı görülmü tür. Bu yapıda olan bir rolenin, akımın harmonik içermesi durumunda sistemi güvenli bir ekilde koruyamayaca ı sonucu elde edilmiştir

This paper statistically analyses and attempts to predict the most likely winners of the Euro 2000 football tournament on the basis of the seasonal coefficients of variation CVs of the end-of-season points, which were computed from the top division final standings of participating countries of Euro 2000. The CV values computed from over ten seasons for the respective countries were used as a sole measurement value to rank the countries and to determine the most likely winners of Euro 2000. According to the three scenarios long-term, mid-term, and short-term based on the respective CV values of fifteen countries, France appeared to be the most likely country to win Euro 2000 and was closely followed by Spain., Bu çalışma Euro 2000 futbol turnuvasını hangi finalist ülkenin kazanabileceğini istatiksel olarak analiz etmeyi amaçlamaktadır. Euro 2000 futbol turnuvasına katılan finalist ülkelerin birinci liglerinde oluşan yıl sonu puan tablolarından hesaplanan değişim katsayısı DK bu öngörü için kullanılmıştır. Euro 2000 futbol turnuvası öncesi her finalist ülke için hesaplanan son on yılın DK değerleri, finalistlerin futboldaki rekabetçiliklerini sıralamada ve Euro 2000'ni kazanmalarında tek belirleyici değişken olarak kullanılmıştır. On beş finalist ülke için hesaplanan uzun, orta ve kısa dönem DK değerlerinden oluşturulan senaryolara göre Euro 2000 ni Fransa'nın kazanmasının en muhtemel olduğu ve İspanya nın ise diğer bir güçlü aday olduğu öngörülmüştür.

This paper examines the short and long-run relationship between goverment revenues, expenditures, GNP and interest rates for Turkey for the period 1987:1-2003:3, using error correction model (ECM) and the augmented vector autoregressive (VAR) model developed in Toda-Yamamoto (1995). The results indicate that there is one long-run equilibrium relationship among the four variables, and the causal relationship flows unidirectionally from government revenues to expentitures both in the short and long-run, providing support for the tax-spend theory.The results further reveal that the unidirectional causal impact of revenues on expentitures is significantly negative as hypothesized by Buchanan and Wagner. Thus, higher taxes seem an optimal resolution to the budget deficits in Turkey.

This paper is an attempt to assess the performance and limitations of Biogas Combined Heat and Power CHP plants available to the water companies. This includes measuring the capacity of an average Sewage Treatment work STW for producing sludge and ultimately producing Biogas. It also investigates the amount of electricity produced and the works self-sufficiency in terms of energy utilised., Bu makale, su irketlerinde bulunan biyogaz tesislerinin verim ve kısıtlamalarını de erlendirmeye çalı maktadır. Bu da, ortalama olarak, üretilen çamur ve bunun sonunda elde edilen biyogaz üretim i lemlerinin kapasitesini ölçmekten geçmektedir. Aynı zamanda, üretilen elektri in miktarı ile yapılan i in kullanılan enerji bakımından, kendi kendine yeterliliği incelenmiştir

This paper describes the realization of a fuzzy gain scheduling scheme of a PI controller using a RISC microcontroller. Fuzzy rules and reasoning are utilised on-line to determine the PI controller parameters based on the error signal and its first difference. The Fuzzy control algorithm is implemented in the RISC microcontroller to regulate the speed of a permanent magnet DC motor (PMDC) and works on-line. The microcontroller directly tunes the motor speed with a chopper converter which changes the motor terminal voltage. Application results demonstrate that better control performance can be achieved in comparison with traditional PI controllers.

In this paper, suggested an iterative inquiring methodology to understand or design a social system based on philosophy of experimental idealism. According to experimental idealism, truth could be understood at the end of the experiment not at the beginning. So inquiring methodology must be iterative. Social systems are designed to realize the purposes of stakeholders. Defining purposes or meaning and coordination of behaviors are embodied in communication. So designing a social system, in essence, is a matter of communication.

Starting from the early 1990's the world economy has entered a period characterized by financial globalization, a process expected to produce effects to speed up the rate of development in the newly industrializing countries. However financial crises started to occur very frequently in the emerging economies which apparently show that they are closely related to the ongoing financial liberalization process. In this paper, recent financial crises and the policies of the IMF are examined by giving special emphasis to the experience of Turkey to draw conclusions for the emerging markets and the transition economies.

This paper aims to study money capital and banks which are one of the crucial institutions of money capital in context with social circulations of capital and the restructuring of the banks during globalization process. The framework of restructuring of banks during capitalist capital accumulation process has been explicated after expressing the relation between money capital and real capital. Consequently, in the last section, Turkish banking system in the period after 1980 has been analysed. Afterwards the number and the distribution of banks are studied with the purpose of explaining the transformation in this sector. Additionally the development of concentration trends during the same period are examined by means of general concentration rate and the effects of the crisis are put forward in this way.

The relationship between inflation and growth in Turkey is examined in this paper with time series analysis using quarterly data related to 1987-2002 period. A unidirectional casuality runs from inflation to growth within the Granger casuality analysis. The regression analysis we have made points out that inflation effects growth negatively. Every 1 point increase in inflation is found to decrease growth rate by 0.37 points during the examined period.

Rapid improvement of information technology caused the distance learning types to variate and it enabled the internet based distance learning to be common. This paper focuses on services of libraries and information centres, which have an utmost position to meet the information needs of students in distance learning programs and on virtual library which provides the participants with the information sources conveyed onto electronic format. In addition, the article offers suggestions for information experts, who are responsible for the supply of services to the distance learning students are presented.

Firms have started to cooperate with other firms due to globalization and rapidly increasing competition. They can have quick access to the most recent technology and different markets by cooperating with other firms. Thus by increasing their cross-border operations, multinational companies prefer to establish joint ventures. Joint ventures are the forms of cooperation that is widely used by multinational firms. In Turkey, Foreign Capital Law (No : 6224) has been enacted on January, 18th, 1954. This law has been enacted to encourage foreign capital investments. Even though, it is quite liberal, the amount of foreign capital inflow is not at a desirable level. Therefore, it is necessary and very important to research the reasons for the inadequacy in foreign capital inflows to Turkey. In this paper, the performance of joint ventures in electronic, chemistry and cement sectors are studied. The joint ventures in which the foreign partner has an equity share of less than ninety percent are included in the scope of the study.

This paper is about Cooperative enterprises in the European Union (EU) and how they fulfill the needs and aspiration of their members and stakeholders. It considers the contribution that they make to European economy and society. Additionally, a detailed discussion is provided for the impacts of a probable Cyprus' integration to the EU on the Turkish Cypriot co-operative movement. In this study, the following sections will take place: - Introductory part related to concept and importance of cooperatives. - History of cooperatives in the European Union. - Principles of cooperatives. - Development of cooperatives in the European Union. - Impacts of Cyprus-EU integration on Turkish Cypriot cooperatives. - Conclusion. Bu çalışmanın temel amacı Kıbrıs’ın olası Avrupa Birliği (AB) üyeliği karşısında Kuzey Kıbrıs kooperatifçilik sektörünün nasıl etkileneceğini ortaya koymak ve bu sektörün gelişmesi için önerilerde bulunmaktır. Çalışmada aşağıdaki kısımlara yer verilecektir. -Kooperatifçilik kavramı ve önemi ile ilgili giriş kısmı. -AB’de kooperatifçiliğin tarihi . -Kooperatifçilik ilkeleri. -AB’de kooperatifçiliğin gelişimi. -Kıbrıs’ın olası AB üyeliğinin Türk kooperatifçilik sektörü üzerine etkileri. -Sonuç

The theories mostly used in today's economic textbooks have been developed within the framework of neo-classical paradigm. This paper aims to explain the basic characteristics of orthodox paradigm with a critical approach. Therefore, orthodox economics is analysed and criticized particularly from epistemological and ontological aspects. In conclusion, an alternative paradigm is offered through an example of consumer behaviour.

Application frameworks are a very promising software reuse technology. The development of application frameworks is a complex process. Many methodologies and approaches have been proposed with the purpose of minimizing the complexities. The Unified Software Development Process directly addresses the complexity challenge of today's software applications. In this paper, we explore the role of the Unified Software Development Process together with a popular CASE tool: Rational Rose, in managing the complexity of developing application frameworks., Uygulama iskelet yapıları çok umut vaadeden bir yeniden kullanım yazılım teknolojisidir. Uygulama iskelet yapılarının geliştirilmesi karmaşık bir süreci gerektirir. Bu karmaşık süreci minimize etmek amacıyla birçok yöntem ve yaklaşım önerilmiştir. Birleşik Yazılım Geliştirme Süreci bugünkü yazılım uygulamalarındaki karmaşıklık engelini direkt olarak hedefleyen bir yöntemdir. Bu yazıda uygulama iskelet yapılarındaki karmaşıklığın yönetimi konusunda Birleşik Yazılım Geliştirme Süreci'nin rolü yaygın olarak kullanılan bir CASE Bilgisayar Destekli Yazılım Mühendisliği aracı olan "Rational Rose" ile birlikte araştırılmaya çalışılmıştır.

This paper describes a Markov Random Field model for coupled range and confidence signals. Beamforming is a method used to bring a range image from backscattered echos of acoustic signals. Another information is confidence of signal which associated point by point with this range data. In the proposed algorithm, the range and confidence images are modeled as Markov Random Fields whose probability distributions are specified by a single energy function. The optimization of this model gives reconstructed range and restored confidence images and an approach to the optimization is suggested for the real-time implementation of this method.

The paper introduces a generic quality model for application in higher education environment and investigates the role that the International Standards Organisation (ISO) 9000 requirements could play in such a model. The ISO terms have been translated into education terms and priority action plans have been developed to aid implementation. The generic model and the ISO system have been complemented with a quality manual. The latter identifies a number of processes and how these processes can be implemented in theory and in practice. A university has been selected to test the applicability of the various elements of the generic and ISO models and how the two approaches could be integrated and what else needs to be considered. Special references are made to higher education institutions that have adapted an ISO 9000 based system.

This paper examines the premerger discrimination between acquirers and targets using a sample of 56 mergers from U.S. economy. The research findings indicate that acquirers and targets discriminate in terms of size, liquidity and cash flow dimensions, while no statistically significant discrimination are detected in terms of growth potential, past market returns and operating efficiency. The subsample studies show that diversifying mergers aim to exploit cash flow potential of targets, whereas related mergers focus on growth potential. The premerger financial properties of acquirer and targets bear informational clues about method of payment in mergers. Strategic analysis of portfolio shifts show that value acquirers aim to purchase companies with higher growth potential, whereas growth bidders aim to purchase companies with stronger cash flow record., Bu araştırmada ABD ekonomisine ait 56 şirket birleşmeleri örnek alınarak, birleşen firmaların birleşme öncesi farklılıkları analiz edilmektedir. Araştırma bul­guları birleşen firmaların birleşme öncesinde şirket büyüklüğü, likidite ve nakit akış­larına göre istatiksel olarak anlamlı farklılıkları olduğunu, büyüme potansiyeli, geç­miş pazar getirileri ve faaliyet etkinliği açısından ise istatiksel olarak anlamlı fark­lılıkların olmadığını göstermiştir. Alt örnek analizleri dikey şirket birleşmelerinin te­mel amacının satın alınan firmaların güçlü nakit akışlarını elde etmek, yatay şirket birleşmelerinin temel amacının ise büyüme ve gelişme amaçlı yapıldığını göster­mektedir. Birleşme öncesi satın alan ve satın alınan firmaların finansal özellikleri şirket birleşmelerinde kullanılabilecek ödeme yöntemi hakkında bilgi içeriği taşı­maktadır. Satın alan firmanın portföy değişiminin stratejik analizi düşük gelişme perspektifi olan firmaların yüksek büyüme istikametinde, yüksek gelişme perspek­tifi olan firmaların ise nakit akışlarını kuvvetlendirmek istikametinde şirket birleş­melerine gittikleri tespit edilmiştir

This paper hypothesizes that Asian crisis has severely affected the financial dimensions of the Turkish industries. The analysis of the financial data for 70 companies from textile, food and cement industries provides evidence to partially support this hypothesis. By principal components analysis we identified five statistical factors that is meaningful and economically significant to represent main financial dimensions contained in twenty-one financial variables of the sample firms. The discriminant analyses based on the identification of the discrimination between financial dimensions of the sample firms for pre- and post-crisis years identified that profitability margins of the export-oriented Turkish textile industry significantly decreased in post-crisis years. No statistically significant changes in financial dimensions are detected for food and cement industries in post-crisis years., Bu makale Asya krizinin Türk sanayisinin finansal boyutlarını ciddi biçim­de etkilediğini öngörmektedir. Tekstil, gıda ve çimento sektörlerinden 70 şirketin fi­nansal verleri kullanılarak yapılan analiz bu öngörüyü kısmen desteklemektedir. Te­mel komponentler analizini kullanarak yirmi bir finansal oranın içerdiği bilgileri temsil eden, anlamlı ve ekonomik olarak anlamlı beş istatistiksel faktör bulduk. Fi­nansal boyutlar arasında kriz öncesi ve sonrası yıllar arasında farklılaşım bulunupbulunmadığını test eden diskriminant analizi ihracata yönelik Türk tekstil sanayisi­nin karlılık marjlarının kriz sonrası yıllarda istatistiksel olarak anlamılı düşüş gös­terdiğini tespit etmiştir. Gıda ve çimento sektörleri için kriz sonrası yıllarda finansal faktörler açısından istatistiksel olarak anlamlı bir değişim bulunamamıştır