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ArticlePublication Metadata only Robust term structure estimation in developed and emerging markets(Springer Nature, 2018-01) Ahi, Emrah; Akgiray, V.; Şener, Emrah; Business Administration; ŞENER, Emrah; Ahi, EmrahDespite powerful advances in interest rate curve modeling for data-rich countries in the last 30 years, comparatively little attention has been paid to the key practical problem of estimation of the term structure of interest rates for emerging markets. This may be partly due to limited data availability. However, emerging bond markets are becoming increasingly important and liquid. It is, therefore, important to be understand whether conclusions drawn from developed countries carry over to emerging markets. We estimate model parameters of fully flexible Nelson–Siegel–Svensson term structures model which has become one of the most popular term structure model among academics, practitioners, and central bankers. We investigate four sets of bond data: U.S. Treasuries, and three major emerging market government bond data-sets (Brazil, Mexico and Turkey). By including both the very dense U.S. data and the comparatively sparse emerging market data, we ensure that are results are not specific to a particular data-set. We find that gradient and direct search methods perform poorly in estimating term structures of interest rates, while global optimization methods, particularly the hybrid particle swarm optimization introduced in this paper, do well. Our results are consistent across four countries, both in- and out-of-sample, and for perturbations in prices and starting values. For academics and practitioners interested in optimization methods, this study provides clear evidence of the practical importance of choice of optimization method and validates a method that works well for the NSS model.ArticlePublication Open Access Scheduling ambulance crews for maximum coverage(Palgrave MacMillan, 2010-04) Erdoğan, Güneş; Erkut, Erhan; Ingolfsson, A.; Laporte, G.; Business Administration; Industrial Engineering; ERDOĞAN, Güneş; ERKUT, ErhanThis paper addresses the problem of scheduling ambulance crews in order to maximize the coverage throughout a planning horizon. The problem includes the subproblem of locating ambulances to maximize expected coverage with probabilistic response times, for which a tabu search algorithm is developed. The proposed tabu search algorithm is empirically shown to outperform previous approaches for this subproblem. Two integer programming models that use the output of the tabu search algorithm are constructed for the main problem. Computational experiments with real data are conducted. A comparison of the results of the models is presented.ArticlePublication Metadata only Doing good by sharing messages: An investigation of “You Share, We Donate” campaigns and how they can attain viral success(Elsevier, 2023-02) Wen, Xiaohan Hannah ; Kim, S.; Bowen, M.; Business Administration; WEN, XıaohanWith the rise of social media, companies are engaging in a new type of cause-related marketing classified as "You Share, We Donate" (YSWD) campaigns. YSWD campaigns encourage consumers to share the company's campaign message, with the promise that the company will donate to a designated cause, and the total donation amount is linked to the number of "shares" the message gets. Thus, the success of these campaigns depends on the campaign's virality. In order to understand what organizations need to do to set up successful YSWD cam-paigns, we investigate the linkage between donation cap (non-)specification-an important design element-and YSWD campaign success. The results of the analyses of 574 real-world YSWD campaigns and four experiments show that donation cap non-specification encourages consumers to share the campaign message more than when a donation cap is specified. However, this effect diminishes if a company is perceived as highly credible.ArticlePublication Metadata only Dimensions of religiosity, altruism and life satisfaction(Taylor & Francis, 2021-10-02) Kaya, İ.; Yeniaras, Volkan; Kaya, Ö.; Business Administration; YENİARAS, VolkanThis study utilizes data from 3008 adult individuals in Turkey and examines the direct and indirect relationships between the dimensions of (Islamic) religiosity and life satisfaction. We took a dual approach in examining the proposed web of relationships and treated (i) charitable giving and (ii) volunteering as mediators that account for the relation between dimensions of religiosity and life satisfaction. We provided empirical evidence that religious orientation determines the choice between charitable giving and volunteering. The results show that the adherents that use religion for social gains (inner peace and comfort) are more likely to volunteer (donate) but less likely to donate (volunteer). Further, our findings indicate that individuals that expect inner peace and comfort (social gains) from religion get more life satisfaction from donating (volunteering) whereas the life satisfaction of those adherents that use religion for social gains (inner peace and comfort) diminishes if they were to donate (volunteer).ArticlePublication Metadata only Predictability of emerging market local currency bond risk premia(Taylor & Francis, 2015) Akgiray, V.; Baronyan, S.; Şener, Emrah; Yıldız, Osman; Business Administration; ŞENER, Emrah; Yıldız, OsmanThis article investigates the source of predictability of emerging market (EM) local currency bond risk premia by using a dynamic factor approach based on a large panel of economic and financial time series. We find strong predictable variation in EM local currency excess bond returns that is associated with macroeconomic activity. We provide evidence that the main predictor variables are the factors based on real economic activity that are highly correlated with measures of industrial and manufacturing production; however, factors based on global financial factors also contain information about the future local currency bond returns. The predictive power of the extracted factors is both statistically significant and economically important. Our research has important implications for policymakers and pension fund managers.ArticlePublication Metadata only The geography of funding markets and limits to arbitrage(Society for Financial Studies, 2015-04) Buraschi, A.; Menguturk, M.; Şener, Emrah; Business Administration; ŞENER, EmrahWe use the relative pricing of pairs of emerging market (EM) sovereign bonds issued in both dollars and euros to study capital markets frictions during periods of financial distress. During the 2007–2008 crisis, we find the emergence of large pricing anomalies in EM sovereign bond markets. Neither liquidity nor short-selling constraints can explain these persistent events. We use both cross-sectional and time-series information on these pricing anomalies to learn about specific geographical frictions in funding markets. We find support for explanations based on the interaction of banking capital-structure frictions and the fragility of wholesale funding markets. We document the effects of nonconventional policy interventions on this mispricing.ArticlePublication Metadata only The effects of social ties on innovation behavior and new product performance in emerging economies: evidence from Turkey(Emerald Publishing Limited, 2020-04-08) Yeniaras, Volkan; Kaya, İ.; Ashill, N.; Business Administration; YENİARAS, VolkanPurpose The purpose of this paper is to offer a theoretical and empirical understanding of how social ties affect innovation behavior and new product performance in Turkey, which is an emerging economy where high levels of economic and political uncertainties exist.The authors examine whether innovation behavior binds the political and business ties of the firm to new product performance. They also examine if these effects are contingent on variations in the institutional environment and market environment. Design/methodology/approach Structural equation modeling and mediation analyses were used on a sample of 344 small- and medium-sized enterprises in Istanbul. Findings Business ties are positively related to exploratory innovation behavior and political ties hamper such behavior. The authors also show that government support hinders firms' disruptive innovation while encouraging incremental innovation behavior. The authors further demonstrate that the positive and indirect relation of business ties to new product performance through exploratory and exploitative innovation is largely insensitive to changes in market and institutional environments. Political ties are negatively (positively) and indirectly related to new product performance through exploratory (exploitative) innovation. Originality/value The authors offer a deeper perspective of how social ties in emerging economies affect new product performance by considering exploratory and exploitative innovation behavior as mediating mechanisms. These mediating effects are conditional on institutional and market environments.ArticlePublication Metadata only Relational governance, strategic planning and firm performance(Emerald, 2021-10-21) Yeniaras, Volkan; Kaya, I.; Business Administration; YENİARAS, VolkanPurpose: While there is growing attention to the efficacy of business and political ties in emerging economies, there are not many studies explicitly examining the relations of business and political ties to small and medium enterprises (SME) strategy formation in emerging economies outside of the East-Asian setting. This study attempts to refine the facilitating role of formal strategic planning (FSP) in the relation of business and political ties to financial firm performance. Design/methodology/approach: Structural equation modeling and conditional mediation analyses were used. Findings: The authors show that while business ties are positively related to FSP, political ties are negatively associated with it. In addition, this study provides empirical evidence that FSP positively mediates the relation of business ties to financial performance. Conversely, there exists a negative indirect relationship between political ties and financial performance. This study shows that the demand uncertainty negatively moderates the relation of FSP to financial performance. Originality/value: The findings offer noteworthy inferences for firm managers and policy makers, who should evaluate the benefits and costs carried by business and political ties.ArticlePublication Metadata only Online social capital : understanding e-impulse buying in practice(Elsevier, 2009-07) Kervenoael, R. de; Aykaç, Didem Selcen Öztürkcan; Palmer, M.; Business Administration; ÖZTÜRKCAN AYKAÇ, Didem SelcenSocially constructed marketing imageries (e.g. e-atmospherics) help consumers while making choices and decisions. Still, human and retailing technology interactions are rarely evaluated from a social practice perspective. This article explores the potential impact of socially constructed e-atmospherics on impulse buying. A framework with three interrelated factors, namely social acoustic, co-construction and mundane language enactment is analysed. The way these allow for e-social norms to organically emerge is elaborated through a set of propositions. Retailing implications are subsequently discussed.ArticlePublication Metadata only Consumer participation in the design and realization stages of production: how self-production shapes consumer evaluations and relationship to products(Elsevier, 2014-12) Atakan, Şükriye Sinem; Bagozzi, R. P.; Yoon, C.; Business Administration; ATAKAN, Şükriye SinemPsychological responses of consumers to specific stages of self-production activities are investigated in four studies. Findings reveal that consumer participation in the realization stage (physical production) enhances affective commitment to the product. However, physical production without opportunity to express choice or creativity during the production process does not change the symbolic meaning of the product (how self-expressive it is) and, therefore, does not result in identification with the product. Participation during the design stage (input-specification) enhances identification, leading to affective commitment, which in turn enhances evaluation of the self-made product. Finally, engaging consumers in both the realization and design stages of the production process does not create value for consumers over and above the main effects created by a high level of participation in either stage.