Template-Type: ReDIF-Article 1.0 Author-Name: Burcu Kılınç Savrul Author-Email: kilincburcu@hotmail.com Author-Workplace-Name: Çanakkale Onsekiz Mart Üniversitesi Title: Impact of the R & D Investment on Economic Performance of SMEs: The Case of the European Union Countries Abstract: R & D expenditure is a very important phenomenon in development of the countries. Intense competition and advances in technology, direct the countries to increase their investment in R & D. Prosperity and living standards in a country can rise in case of the increase in productivity and competitiveness. Accordingly, R & D expenditures one of the most important instruments of economic growth, expanding employment and increasing the added value of the countries. The aim of this study is to examine the effect of innovation investment of SMEs on economic growth. R&D investments and SME sales data of 21 member states of the European Union covering the years 2007-2014 were adressed in the study. Data is examined using panel regression analysis and results of the analysis has shown that R&D activities have a significant contribution to economic performance of SMEs. Journal: Eurasian Business & Economics Journal Pages: 1-17 Volume: 5 Issue: 5 Year: 2016 Month: Feb DOI: 10.17740/eas.econ.2016.V5-01 File-URL: https://eurasianacademy.org/index.php/busecon/article/view/695 File-Format: Application/pdf Handle: RePEc:eas:buseco:v:5:y:2016:i:5:p:1-17 Template-Type: ReDIF-Article 1.0 Author-Name: Mustafa Torun Author-Email: mustafatorun@comu.edu.tr Author-Workplace-Name: Çanakkale Onsekiz Mart Üniversitesi, Biga İİBF Title: The Effect of Consumer Loans on The Economic Growth in Turkey: Time Series Analysis Abstract: A significant increase has seen in personal loans with the strongest economy in transition program after the 2001 crisis in banking sector of Turkey's economy. In this context, the effect of consumer loans on the economic growth was investigated using with quarterly data for the period 2004Q4-2014Q2 in Turkey's economy. The relationship between the variables in the model was investigated by using cointegration and causality methodology in the time series analysis. Between housing loans and consumer loans and also, consumer loans and vehicle loans was found bidirectional causality in the result of the study. Moreover from economic growth to vehicle loans, from housing loans to both consumer loans and credit cards and finally from credit cards to consumer loans was found unidirectional causality. Journal: Eurasian Business & Economics Journal Pages: 18-28 Volume: 5 Issue: 5 Year: 2016 Month: Feb DOI: 10.17740/eas.econ.2016.V5-02 File-URL: https://eurasianacademy.org/index.php/busecon/article/view/696 File-Format: Application/pdf Handle: RePEc:eas:buseco:v:5:y:2016:i:5:p:18-28 Template-Type: ReDIF-Article 1.0 Author-Name: Erdal Aydın Author-Email: tnus80@gmail.com Author-Workplace-Name: Çanakkale Onsekiz Mart Üniversitesi Title: The Effect of Entrepreneurship on Economic Growth: GEM Data Evidence Abstract: Globalization influencing economic, political and cultural structure of the world, is also changing the way of doing business dramatically. Depending on the progress of globalization, an environment is formed in which local businesses can easily expand into the global market however this case also brings the global competitive environment. While some businesses are obtaining the paths to convert this new business environment into opportunity directly, some others, especially the small ones, are required to include practices of innovation and entrepreneurship in their way of doing business in order to be affected from globalization in a positive way. Setting out from this approach, the study is empirically investigate the impact of entrepreneurship on economic growth. The analysis of the study is modelled by incorporating entrepreneurship as an intermediate variable to the neo-classical growth model and gross domestic product per capita, gross capital formation, labour and total early-stage entrepreneurial activity data of 35 countries collected from OECD and Global Entrepreneurship Research Association databases covering 2006-2015 period is used in the analysis. The analysis conducted within the study shows that entrepreneurial activity has a significant and positive impact on economic growth compatible with the theoretical assumptions of the study. Journal: Eurasian Business & Economics Journal Pages: 29-37 Volume: 5 Issue: 5 Year: 2016 Month: Feb DOI: 10.17740/eas.econ.2016.V5-03 File-URL: https://eurasianacademy.org/index.php/busecon/article/view/697 File-Format: Application/pdf Handle: RePEc:eas:buseco:v:5:y:2016:i:5:p:29-37 Template-Type: ReDIF-Article 1.0 Author-Name: Burcu Kılınç Savrul Author-Email: kilincburcu@hotmail.com Author-Workplace-Name: Çanakkale Onsekiz Mart Üniversitesi Author-Name: Fatma Zeren Author-Email: fatma.zeren@inonu.edu.tr Author-Workplace-Name: İnönü Üniversitesi Author-Name: Esra Canpolat Author-Email: esra.canpolat@inonu.edu.tr Author-Workplace-Name: İnönü Üniversitesi Title: The Effects of Financial Development on Income Inequality Abstract: Income inequality in economy is shown by the income differences between individuals. It is different from the poverty term. Poverty is individuals' obtaining their requirements needed to sustain their life in a limited way. Income inequality affects many economic factors. It may cause an adverse impact on the growth of the country. On the other hand finance is seen as an important element of the growth in the countries is experiencing financial liberalization. Therefore, this study is investigating the relationship between income inequality and financial development. Consequently a long term relationship between income inequality and financial development level has been determined. Also a mutual causal relationship between these two concepts has been found. Journal: Eurasian Business & Economics Journal Pages: 38-52 Volume: 5 Issue: 5 Year: 2016 Month: Feb DOI: 10.17740/eas.econ.2016.V5-04 File-URL: https://eurasianacademy.org/index.php/busecon/article/view/698 File-Format: Application/pdf Handle: RePEc:eas:buseco:v:5:y:2016:i:5:p:38-52 Template-Type: ReDIF-Article 1.0 Author-Name: İlyas Akhisar Author-Email: ilyasakhisar@klu.edu.tr Author-Workplace-Name: Kırklareli Üniversitesi Author-Name: K. Batu Tunay Author-Email: batu.tunay@marmara.edu.tr Author-Workplace-Name: Marmara Üniversitesi Title: Performance Evaluation of Turkish Commercial Banks Using AHP and TOPSIS Abstract: Measuring performance and determining the key factors of performance have been an important research topic in different sector in recent years. The main goal of this study is to evaluate the performance ranks of the Commercial banks in Turkey due to the fact that performances of Commercial banks are important at the stage of economic growth. In this research, the Commercial banks in Turkey ranked by TOPSIS method using weights of capital ratios obtained from AHP. The performance ranks of Commercial banks sorted according to their TOPSIS scores for the period 2009-2013. In this study, capital ratios of Turkish Commercial banks are placed in a hierarchical decision structure to establish pair-wise comparisons between the model parameters which are based on the subjective judgment of a group of experts. In order to find the performance order of the Commercial banks in Turkey according to financial ratios, calculated criteria and sub-criteria weights for each banks by using AHP to use in TOPSIS method. Performance scores of Commercial the banks obtained by TOPSIS method related with banks? financial ratios of AHP weights. Consequently, the performances and also the sector share of the commercial banks weren't changed for analyzed period. Journal: Eurasian Business & Economics Journal Pages: 53-63 Volume: 5 Issue: 5 Year: 2016 Month: Feb DOI: 10.17740/eas.econ.2016.V5-05 File-URL: https://eurasianacademy.org/index.php/busecon/article/view/699 File-Format: Application/pdf Handle: RePEc:eas:buseco:v:5:y:2016:i:5:p:53-63 Template-Type: ReDIF-Article 1.0 Author-Name: Mehmet Aydıner Author-Email: mehmetaydiner@yahoo.com Author-Workplace-Name: GTB Title: Export Spillover Effect: A Spatial Analysis For NUTS2 Regions In Turkey Abstract: The purpose of this study is to investigate whether there exists export spillover effect among NUTS 2 regions of Turkey. The paper uses cross section data of the regions for 2014. Spatial Weight Matrice was formed by using Queen's Contiguinity Rule. Moran's I Spatial Autocorelation Test result indicates existence of spatial effect among the regions. LM test executed to choose right spatial model shows that the model fits the case is Spatial Error Model (SEM). Spatial Autocorelation coefficient Lamda is (λ) 0.24 which indicates positive correlation among the regions. The results obtained from SEM estimation suggest that 1% increase in import, number of expoter and number of registered working people rise xport 0.59%, 0.19% and 1.3 respectively. Significance of SEM Model coefficients are better than OLS estimation coefficients which is another proof of existence of spatial effect. Journal: Eurasian Business & Economics Journal Pages: 64-73 Volume: 5 Issue: 5 Year: 2016 Month: Feb DOI: 10.17740/eas.econ.2016.V5-06 File-URL: https://eurasianacademy.org/index.php/busecon/article/view/700 File-Format: Application/pdf Handle: RePEc:eas:buseco:v:5:y:2016:i:5:p:64-73 Template-Type: ReDIF-Article 1.0 Author-Name: İsmail Çağrı Özcan Author-Email: cagriucla@gmail.com Author-Workplace-Name: The University of Illinois at Urbana-Champaign Title: Privatization of Natural Monopolies-The Case of Air Navigation Servicesprivatization of Natural Monopolies-The Case of Air Navigation Services Abstract: There exists a strong tendency to privatize the airports and air carriers in the air transport industry. The Turkish flag-carrier Turkish Airlines has been privatized through public offerings and some of the airports managed by State Airports Authority of Turkey have been privatized through Build-Operate-Transfer and Long Term Lease schemes. But natural monopolistic air navigation services, which are indispensable part of the air transport industry, lagged behind the corporatization, commercialization, and privatization trends not only in Turkey but also in the rest of the world. This study aims at analyzing the private participation in the provision of the air navigation services, evaluating the country cases, and discussing the Turkish context. After the analyses, it was concluded that privatizing air navigation services might not be a viable option at the moment in Turkey but the provision of such services in a more autonomous and commercial approach might lead to certain improvements. Journal: Eurasian Business & Economics Journal Pages: 74-87 Volume: 5 Issue: 5 Year: 2016 Month: Feb DOI: 10.17740/eas.econ.2016.V5-07 File-URL: https://eurasianacademy.org/index.php/busecon/article/view/701 File-Format: Application/pdf Handle: RePEc:eas:buseco:v:5:y:2016:i:5:p:74-87 Template-Type: ReDIF-Article 1.0 Author-Name: Tuncay Özcan Author-Email: tuncay.ozcan@istanbul.edu.tr Author-Workplace-Name: İstanbul Üniversitesi Title: Natural Gas Consumption Forecasting using Particle Swarm Optimization based Grey Model Abstract: Natural gas is regarded as one of the most important nonrenewable energy sources in the world. Accurate prediction of the natural gas consumption plays a critical role in the energy policy of a country. In this study, firstly, GM(1,1) model with rolling mechanism is applied to predict the long-term natural gas consumption of Turkey. Then, in order to improve the forecasting performance of the original GM(1,1) model, particle swarm optimization algorithm is used to optimize the parameter value of this model. The experimental results show that the optimization of parameter value significantly increases the original GM (1,1) model's performance. The proposed particle swarm optimization based GM (1,1) model presents an efficient methodology for forecasting the natural gas consumption of Turkey. Journal: Eurasian Business & Economics Journal Pages: 88-96 Volume: 5 Issue: 5 Year: 2016 Month: Feb DOI: 10.17740/eas.econ.2016.V5-08 File-URL: https://eurasianacademy.org/index.php/busecon/article/view/702 File-Format: Application/pdf Handle: RePEc:eas:buseco:v:5:y:2016:i:5:p:88-96 Template-Type: ReDIF-Article 1.0 Author-Name: Okşan Kibritci Artar Author-Email: okibritci@ticaret.edu.tr Author-Workplace-Name: İstanbul Ticaret Üniversitesi Author-Name: Özlem Çemberci Author-Email: okibritci@ticaret.edu.tr Author-Workplace-Name: Yapı ve Kredi Bankası A.Ş. Title: Effect of Globalization on Syndicated Loans in Fragile Five Countries: Panel Data Analysis Abstract: Syndicated loans have a wide application area in the world and can be defined as the loans which are allocated to the debtor by more than one lender organization as a financial tool used in money and capital markets. While large part of the syndicated loan volume in the world is being used by developed countries, in recent years, it is observed that the share in the syndicated market in the world has increased towards the developing countries with the effects of globalization. However, the opportunities of reaching new markets and increased competitiveness, as well as gaining prestige in the world market are arising for countries facing economic difficulties. In this study, the effects of globalization on the syndicated loan are analyzed by dynamic panel regression method for the period 2010-2014 for the group of fragile five countries. As a result of the analysis, it is determined that as globalization increases, the amount of syndicated loans increases. Journal: Eurasian Business & Economics Journal Pages: 97-107 Volume: 5 Issue: 5 Year: 2016 Month: Feb DOI: 10.17740/eas.econ.2016.V5-09 File-URL: https://eurasianacademy.org/index.php/busecon/article/view/703 File-Format: Application/pdf Handle: RePEc:eas:buseco:v:5:y:2016:i:5:p:97-107