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Öğe Sustainable finance portfolio analysis in Islamic bank (segment perspective)(İstanbul Ticaret Üniversitesi, 2020) Nugroho, Lucky; Nugraha, Erik; Badawi, AhmadThe purpose of this study is to analyze the distribution of financing at Bank Syariah Mandiri (BSM) based on the segments inc luded in the sustainable finance category in 2019. The method used is quantitative, which is to analyze based on secondary data published in 2019 with research questions: (i) How much is the distribution of retail segment financing to BSM, and how much is included in the sustainable finance category in 2019?; (ii) How big is the distribution of corporate segment financing in BSM, and how much is included in the sustainable finance category in 2019?; (iii) What is the ratio of the distribution of financing included in the category of sustainable financing in the retail segment to the corporate segment in 2019?. The findings of this study are (i) the distribution of financing to the wholesale segment contributed 63% to the sustainable finance; (ii) the distribution of the funding to the retail segment contributed 37% to the sustainable finance; (iii) The portion of BSM financing distribution included in the sustainable finance category in 2019 was 47%.Öğe Digital innovation: an antecedent for digital transformation(İstanbul Ticaret Üniversitesi, 2020) Karabulut, Ahu TuğbaDigital innovation facilitates digital transformation of companies. Companies which conduct digital innovation can have and sustain competitive advantages in the market place. Digital product innovation, digital process innovation and digital business model innovation are major types of digital innovation. The purpose of this paper is to highlight the concept of digital innovation, explain its types and focus on its advantages for companies. Digital innovation is using information and communication technology (ICT) to create new and improved products, processes, business models, marketing and organizational methods and network. It has three main types namely digital product innovation, digital process innovation and digital business model innovation. Its advantages can be summarized as reducing costs, improving productivity and relationships with stakeholders, and increasing competitive advantages, market share, sales and profits.Öğe Digital transformation in financial field(İstanbul Ticaret Üniversitesi, 2020) Tembelo, HavaneIn this study, digital transformation applications in the business world and in finance field are discussed in detail. The current and potential effects of digitalization on a wide spectrum from operational finance to portfolio management are examined. Advantages and disadvantages of digital transformation have been examined in detail and a general evaluation has been made about the ongoing process. One of the most important milestones of digitalization in the financial world is cryptocurrency. It is totally based on blockchain technology that eliminates public authority intervention and intermediaries by establishing peer to peer (P2P) transactions via the decentralized platform. In particular, the possible effects of increasing digitalization efforts on the financial environment after Covid-19 are interpreted.Öğe Macroeconomic and bank specific determinants of commercial bank profitability in Ethiopia(İstanbul Ticaret Üniversitesi, 2020) Lemi, Buzayehu Abera; Rafera, Matewos Kebede; Gezaw, MillionThe purpose of this study was to empirically examine the impacts of the macroeconomic and bank-specific variables on profitability of commercial banks in Ethiopia. For the purpose secondary data collected from seven banks over the period 2000-2017 and other sources were analyzed using a panel ordinary least squares regression model for the fact fixed and random effect model found inappropriate after the Hausman tests and Breusch-Pagan Lagrange multiplier (LM). The results of the study showed statistically significant negative impacts of broad money supply and credit risk. Inflation and GDP on the other hand was found with significant positive impact s. Yet, Cash reserve ratio and bank size showed no significant impact on the profitability of commercial banks in Ethiopia. The results suggested the need for enhancing credit risk management practice, optimizing the leverage ratio in increasing bank size. A thorough understanding of the strategic business environment also found highly relevant in commercial bank management for the fact macroeconomic variables and regulatory factors found to have significant implication on profitability.Öğe Significance of human capital on the economic growth of the Gambia(İstanbul Ticaret Üniversitesi, 2020) Sawaneh, MusaSince time immemorial, economic growth has been a chief concern for macroeconomic policymakers in every country. The significance of human capital in achieving these concerns is making waves in the space of contemporary development economics. Much theoretical and empirical evidence has shown that human capital accumulation (education and health) and their collective capabilities are a vital variable for economic development. This paper investigates the existing literature on the importance of human capital on the economic growth of the Gambia from 1990- 2019. Using annual time series economic data, we applied the econometric techniques of the ADF test to prove stationarity, rejection, and acceptance of the hypothesis of Granger causality and rejection of the null hypothesis of Johans en’s cointegration test. The Vector Error Correction Model (VECM) model was conducted, and the findings indicated a positive relationship between education and GDP in the long-run and a bidirectional relationship in the short-run. Thus, we recommended the policymakers to create strategic and prudent policies that would promote accessible and quality education with modern technologies to improve the economic growth of The Gambia. We concluded on the premise that investment in people translates to a country's economic growth.Öğe Comprehensive performance measurement for microfinance institutions in Ethiopia(İstanbul Ticaret Üniversitesi, 2020) Refera, Eyerusalem KebedeThis study develops comprehensive performance measurement for microfinance institutions which incorporate both financial and nonfinancial metrics using balanced score card approach (BSC). The BSC framework of the study developed using a total of 20 performance indicators categorized under the 4 BSC perspectives (financial, customer, internal business process and learning and growth). The performance measurement model is developed based on reviewed literatures and after the comprehensive performance measurement descriptive model developed, 10 microfinance experts of national bank of Ethiopia (NBE) and association of Ethiopian microfinance institutions (AEMFI) gives weight for each BSC perspective and for each twenty performance indicators. Furthermore since financial performance are commonly measured using ratios and numbers to measure a comprehensive performance and to make financial and nonfinancial performance parameters comparable the experts asked to develop a bench mark to convert financial performance parameters in to 5 point Likert scales. Finally the study provide a BSC based performance measurement framework that will give a comprehensive view on the financial and non-financial performance.Öğe Islamic micro finance services in Ethiopia: performances and implications for financial inclusion and poverty alleviation(İstanbul Ticaret Üniversitesi, 2020) Ali, Abdu SeidDeprivations are a worldwide incident affecting people both in developed and developing countries. The study examines the performances Islamic micro finance institutions and their implication for financial inclusion and poverty alleviation in Ethiopia. Descriptive method of research is used to understand the general overview and performance of both conventional and Islamic micro finance institutions and observe the role of Islamic micro finance institutions towards ensuring financial inclusion and reducing poverty in the country. A survey was conducted on interest free micro finance windows in the existing conventional micro finance institutions in different parts of the country. The results revealed that most of the institutions provide murabaha which is a popular form of financing small entrepreneurs and businesspersons. However, the main challenges of interest free micro finance system are unavailability of clear and detailed legislation from the regulator National Bank of Ethiopia (NBE), shortage of trained and knowledgeable workforce related to interest free micro finance services, immense and arduous administrative cost of the system and clients’ nonconformity with some Sharia principles like failure to deliver the item to the institution after they acquired it from the market on behalf the micro finance institutions.Öğe Quality of e-tax system and its effect on tax compliance (evidence from large taxpayers in Tanzania)(İstanbul Ticaret Üniversitesi, 2020) Masunga, Faustine J.; Mapesa, Harun J.; Nyalle, Mwakibete AndwilileGlobally, countries endeavor toward improving tax compliance behavior with ultimate goal of increasing of tax revenue collection. This study examined the quality of the e-tax system and its effect on tax compliance behavior of large taxpayers in Tanzania. The data were gathered from 313 large taxpayers from three regions in Tanzania, namely Dar es Salaam, Mwanza and Arusha. The study employed Information System Success Model (The IS model) with constructs service quality, system quality, information quality, user satisfaction, behavioral intention and tax compliance behavior (actual behavior). A Partial Least Square Structural Equation Modeling (PLSSEM) with SmartPLS3 was used to evaluate the latent variables and their indicators. The results showed that behavioral intention to use the e-tax system has the strongest effect on tax compliance behavior. Thus, service and information quality had an incredible effect on creating eagerness to accept and utilize the e-tax system which improves tax compliance behavior. However system quality has not shown significant effect on tax compliance behavior.Öğe Assessment of tax payment and collection problems in Jimma zone, Ethiopia(İstanbul Ticaret Üniversitesi, 2020) Dadi, Mengistu Deyassa; Wondimu, Sintayehu Tulu; Birru, Mathewos WoldemariamThe study was attempted to assess problems associated with taxpayers and the revenue authority of Ethiopia case of Jimma Zone, Oromiya regional state. To address research objectives, the researchers were used survey data collected through questionnaires, and the collected data were analyzed with the aid of statistical software, ordered logistic regression model. The study used tax collection as dependent variable, and those taxpayers delay declaration, tax fairness and equity, corruption and political instability, organizational strength of the tax authority, tax payer’s awareness, mode of tax collection, and starting a business without a license as independent variables. The findings of the study revealed that independent variables corruption, political instability, organizational strength of the tax authority, tax fairness, and modes of tax collection has a significant relationship with tax collection. It indicates that these variables have an impact on the collection of taxes. On the other hand, other variables, taxpayers' delay on the declaration, taxpayers' awareness, and starting a business without license shows no significant relationship. Researchers recommended that to improve tax collection the tax authority should develop strategies to aware tax payers in the community.Öğe The effect of audit committee characteristics on earnings management and its impact on firm value(İstanbul Ticaret Üniversitesi, 2020) Handayani, Yenny Dwi; Ibrani, Ewing YuvisaThis study aims to examine the effect of audit committee characteristics on earning management and its impact on Firm Value. The characteristics of the audit committee consist of an audit committee that has expertise in industry and accounting, has expertise in industry and financial supervisors, the number of meetings of the audit committee members, and an independent audit committee. Earning management research is very important to research to provide input regarding the factors that cause companies to mark up earnings and their impact on firm value. This study uses a quantitative method with a sample of manufacturing companies listed on the Indonesia Stock Exchange for the period 2016-2018. The results show that the expertise of the audit committee in industry and accounting has no effect on earnings management, the expertise of the audit committee in the industry and the financial supervisors has no effect on earnings management. The number of meetings of the audit committee members has no effect on earnings management. The independent audit committee has no effect on earnings management. Earning Management has a significant negative effect on firm value.Öğe Factors affecting effectiveness of centralized public procurement system: evidence from selected Ethiopian higher public education institutions(İstanbul Ticaret Üniversitesi, 2020) Abrahim, Kedir; Tarekegn, GanfureThis study focuses on factors affecting centralized procurement system effectiveness in higher Ethiopian public educational Institutions. To achieve this objective the researchers employed the explanatory research design with a primary data sources from 82 employees through questionnaires and interview in purposively selected of public educational Institutions and Public property procurement team leaders of PPPDSA at federal level. The Pearson correlation analysis outcome showed that all explanatory variables were positively influencing the effectiveness of centralized procurement system but at different degree of correlation. The multiple linear regression analysis result of the study also revealed that public policy, control activities and staffs’ educational competency of sampled public education institutions strongly and positively affected centralized procurement system effectiveness at 4.2 percent, 0.01 percent and 0.01 percent respectively. Similarly, monitoring and contract management affected the centralized procurement system effectiveness at 0.00.01 and 5.2 percent respectively. Therefore, to avoid the return of defect goods, malpractices, high compliance and untimely response of procurement orders, the PPPDS and sampled Ethiopian higher public educational Institutions should design very clear procurement planning criteria that fits the national procurement guideline, strong internal control system with good evaluation system. Moreover, it also advisable if the sampled Ethiopian higher public educational institutions train their staffs that partake in procurement processes and apply a computerized procurement system to support their procurement policies and further improve their overall centralized procurement system effectiveness.Öğe Political risk and Turkey 2002-2019(İstanbul Ticaret Üniversitesi, 2020) Arslan, Kahraman; Furtana, Tuğçenur EkinciPolitical risk has become a common topic in recent years. Political risk, which is considered as the main parameter of country risk by international rating agencies, affects CDS credit scores and foreign investor decisions, which are very important in international trade. This study aimed to investigate the factors that make up Turkey as an example of political risk. Accordingly, the situations involving the political risk and the effects of the country in the period after the 2001 financial crisis were analyzed. Examples of political content and measure the risk scoring system used in the PRS Group research company, including risks related to the methods and principles taken from the 2001-2019 year, Turkey was subjected to analysis with this data. Besides scores of different international rating agencies it is made by comparing a general assessment about Turkey. It was determined that the political risk damaged the country's economy, growth, investment and future. In order to reduce the perceived political risk in the international system of Turkey, emphasized the necessity of the factors affecting ratings are given.Öğe Asset, capital structure, liquidity, firm size’s impact on stock return(İstanbul Ticaret Üniversitesi, 2020) Surjandari, Dwi Asih; Nurlaelawati, Lela; Soma, A. M.The aim of this study is to analyze the effect of Asset and Capital Structure, Liquidity and Firm Size on Stock Return of companies grouped as LQ-45 index listed in Indonesia Stock Exchange (IDX) during 2015 up to 2019 period. The research involves the secondary data in the form of financial annual report collected from IDX website, sample used is purposive sampling and research object is Asset and Capital Structure, Liquidity and Firm Size as independent variables and Stock Return as dependent variable while analyzing used SPSS 2.0, E-views 9.0 version. The result shown that when Stork Return measured by market price, Firm Size affects significantly on Stock Return, meanwhile Asset Structure, Capital Structure, Liquidity does not and Firm Size does not moderate the relation between Asset Structure, Capital Structure, Liquidity and Stock Return. But when Stock Return measured by Return on Equity (ROE) it is found that Capital Structure, Liquidity and Firm Size affect Return on Equity, meanwhile Asset Structure and Firm Size also moderates the relation between Asset Structure, Capital Structure, Liquidity and ROE. This finding implies that firm management must pay attention on market measurement performance in their strategy to achieve company goals. The originality of this study is that about the period as the last 5 years and the research object of companies grouped as LQ-45 index and measurement comparation between book value and market value of stock return.Öğe Effect of corporate governance on tax planning & firm value(İstanbul Ticaret Üniversitesi, 2020) Bhagiawan, Giovan; Mukhlasin, MukhlasinThe objectives of this study are to examine the effect of tax planning on firm value with the moderating influence of corporate governance, including board size, board independence, audit quality, board gender diversity, and audit committee size. This research was conducted on manufacturing companies listed on the Indonesia Stock Exchange (IDX) during 2016-2018, with 266 observational data. Having different from previous study, this study uses more diverse moderating variables with empirical evidence from Indonesian companies. The results of the regression analysis prove that tax planning has a positive effect on firm value where these results are in line with traditional theories. Other regression analysis results, gender diversity board of directors and audit committee size weakens the relationship between tax planning and firm value. However, board size, board independence, and audit quality do not affect the tax planning relation on firm value.Öğe Are fiscal deficits really inflationary? an investigation into Ethiopian experience(İstanbul Ticaret Üniversitesi, 2020) Haile, Minyahil AlemuEthiopian macroeconomy has been characterized by enormous disequilibria explained by galloping inflation, increasing unemployment, inadequate balance of payments, mounting burden of debt and fluctuating output. Only recently the country’s income growth is reported to register relatively stable rate, leaving other indicators unsteady. This study establishes long-run relation between budget deficits and inflation while controlling for money supply, owing to the justified links between deficits and money supply especially across developing countries. The study employed time series data with temporal coverage of 1980-2018. Augmented Dickey Fuller has tested nonstationary for all series, but with all stationary at first difference. Engle-Granger (1981) approach tested long-run relation between budget deficits, money supply and inflation. Due to Laney and Willet (1983) the conventional least squares method was adopted to establish long-run relation among the three variables. The long-run results evidenced that fiscal deficits and money supply have been at the root of galloping inflation in Ethiopia. There is also evidence that, budget deficits have been the root cause of money supply growth in Ethiopia; while giving support to a view that, governments of less developing countries resort to monetize large portion of their deficits. There is need to reform the fiscal aspect of the government, if the mounting rate of deficits has to be lessened. Budgetary imbalances can be rectified through enhancement of domestic capital market and setting limits on central bank borrowing. Besides, it could be vital to expand the tax base as well as intensify efficiency of the existing tax system in the country.Öğe Resource dependence reduction strategies for international new ventures(İstanbul Ticaret Üniversitesi, 2020) Çelik, Merve; Büyükbalcı, PınarThis study centers around the following research questions: Which partnership strategies do new ventures prefer in their internationalization processes? On which resources do they reduce their dependency through these strategies? With an attempt to answer these questions, face-to-face interviews are conducted with the founding partners of five international new ventures headquartered in Istanbul, Turkey. It was concluded that new ventures reduce their dependencies on critical resources by means of sales partnership agreements and R&D agreements they make in global markets. Through sales partnerships, they reduce their dependencies on human resources, financial resources and network. Through R&D partnerships, they reduce their dependencies on technological knowledge, financial resources and network.Öğe Rural infrastructure and its implication to labor market participation in Jimma zone, south-west Ethiopia(İstanbul Ticaret Üniversitesi, 2020) Chigeto, Amsalu Dachito; Haile, Minyahil AlemuRural economy remain the back bone of Ethiopian economy absorbing tremendous labour share while how these labour market behave in rural economy of Ethiopia is yet uncovered. Besides the appreciated role of rural access to basic infrastructure with reference to rural labor supply decision, the topic is not bold in domestic literature. Considering this inadequate attention to the topic, we tried to examine the impact of rural infrastructure provision on individual labour supply, and assess the implication with each component of rural services to household participation decision in the labor market, using household survey from Jimma zone. Our multinomial logit regression indicated that rural services like education, health, credit, market information and access to all-weather-road are important considerations with regard to individual labor supply decision in farm and off-farm activities. It would be better to enhance rural access to efficient agricultural extension as well as other basic services towards empowering rural livelihood, and ensuring economic transformation at large.Öğe Unemployment and the macroeconomics of Ethiopia(İstanbul Ticaret Üniversitesi, 2020) Sisay ,Endashaw; Wassie, Yilkal; Alemu, MinyahilUnemployment has long been there for (especially) developing economies being the major development challenge. The cost of unemployment transmits in a couple of channels; of which the opportunity costs arising from lost production and the resultant social disorders are of immediate ledges. While appreciating them all, the government of Ethiopia (GoE) conveyed various schemes towards reducing unemployment to (at least the recommended) minimum rate. Despite developments in various efforts to that end, unemployment remained pronounceable policy challenge in Ethiopia. It, therefore, calls for enhanced intervention towards supporting the process of controlling unemployment in the country. The present study is principally aimed to identify those macroeconomic policy variables that are important in explaining the dynamics of unemployment in Ethiopia. We employed the annual time series data set for the period serially running from 1984 to 2018. The individual variables were all subjected to the augmented Dickey Fuller unit root tests and the mixed order of integration has been confirmed. As a result, the auto-regressive Distributed Lag model approach was employed for cointegration issues; and various possible cointegrating roots among the variables entered the unemployment model were suggested too. Our regression results reveal that, the population growth rate, economic growth rate, inflation rate, foreign direct investment, and the external debt variables are all important predictors of unemployment both in long and the short run periods. A positive impulse moves from inflation to (cyclical) unemployment in Ethiopia, whereby contrasting the Phillips hypothesis. Economic and social development policies need not be treated in isolation. Any successful monetary policy action in targeting the threshold inflation rate is supposed to be a crucial approach. Besides, enhancing productive and more labor-oriented investments serve the best long run solution to that end, too.Öğe Determinants of gross domestic saving and its trend analysis in Turkey: a time-series outlook(İstanbul Ticaret Üniversitesi, 2020) Tessema, Solomon AmareSaving is an engine for the growth and prosperity of a nation by creating capital accumulation and financial investments through resource mobilization. Turkey appears in the set of countries that have relatively low domestic saving rates and relatively high current account deficits. This study examined the determinants of Gross Domestic Saving and its trend in Turkey, using time series data (annual) ranging from 1980-2018. Data were collected from the World Development Indicators (WDI) 2019 database, World Bank and Central Bank of Turkey annual reports. The macroeconomic variables used in the model were Gross Domestic Saving rate to GDP ratio (GDS), Inflation Rate (INF), Deposit Interest Rate (DIR), Broad Money Supply to GDP ratio (M2R), Age-Dependency Ratio (ADR), and Growth of Gross National Income Per Capita (GNIPCG). The study has used Auto-Regressive Distributed Lag (ARDL) model and appropriate diagnostic tests for model specification. The results of the study have shown that the first lag of Gross Domestic Saving, Inflation Rate, Age-Dependency Ratio, and Broad Money Supply to GDP ratio have positive effects, whereas Gross National Income Per Capita Growth and Deposit Interest Rate have negative effects on Gross Domestic Saving rate in Turkey. Only the first Lag of Gross Domestic Saving rate and Deposit Interest rate have statistically significant effects on Gross Domestic Saving in Turkey at a 5 percent level of significance. The rest of all variables have statistically insignificant effects. The overall findings of the study underlined the importance of adopting strict fiscal and monetary policies to regulate inflation and money supply with manageable levels to improve the Gross Domestic Saving rate in Turkey.Öğe Phenomenological study of exploring integrity culture during covid-19 in Ethiopia(İstanbul Ticaret Üniversitesi, 2020) Kebede, Debebe Alemu; Lemma, MesfinIntegrity is a common issue regardless of level of economy and conditions. The aim of this study was to explore what integrity looks like in Ethiopia during COVID-19. The study philosophical stances will be objectivist ontology and critical realist epistemology. To achieve the objective of the study, the qualitative phenomenological method will be applied to illustrate the issue. The necessary data was collected from purposively selected stakeholders by using semi-structured interview and observation as well document analysis for the secondary data. The study revealed there is a problem of awareness about the pandemic specifically in rural areas of the country, there is also a problem on existing media making the pandemic their prior issues, the business ethics are highly violated and leaders of political parties prioritizing issues of election rather than pandemic. Commonly prioritization of the current worldwide pandemics is what expected from different stakeholders in the country.
