Search results for: invest in Turkish market

Authors: M. Radunovic

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Region of Southeastern Europe has a substantial energy resource potential and is witnessing an increasing rate of power and energy project investments. This comes as a result of countries harmonizing their legal framework and market regulations to conform the ones of European Union, enabling direct private investments. Funding in the power and energy market in this region originates from various resources and investment entities, including commercial and institutional ones. Risk anticipation and assessment is crucial to project success, especially given the long exploitation period of project in power and energy domain, as well as the wide range of stakeholders involved. This paper analyzes the possibility of combined application of tools used in total quality management and international financing institutions for project planning, execution and evaluation, with the goal of anticipating, assessing and minimizing the risks that might occur in the development and execution phase of a power and energy project in the market of southeastern Europe. History of successful project management and investments both in the industry and institutional sector provides sufficient experience, guidance and internationally adopted tools to provide proper project assessment for investments in power and energy. Business environment of southeastern Europe provides immense potential for developing power and engineering projects of various magnitudes, depending on stakeholders’ interest. Diversification on investment sources provides assurance that there is interest and commitment to invest in this market. Global economic and political developments will be intensifying the pace of investments in the upcoming period. The proposed approach accounts for key parameters that contribute to the sustainability and profitability of a project which include technological, educational, social and economic gaps between the southeastern European region and western Europe, market trends in equipment design and production on a global level, environment friendly approach to renewable energy sources as well as conventional power generation systems, and finally the effect of the One Belt One Road Initiative led by People’s Republic of China to the power and energy market of this region in the upcoming period on a long term scale. Analysis will outline the key benefits of the approach as well as the accompanying constraints. Parallel to this it will provide an overview of dominant threats and opportunities in present and future business environment and their influence to the proposed application. Through concrete examples, full potential of this approach will be presented along with necessary improvements that need to be implemented. Number of power and engineering projects being developed in southeastern Europe will be increasing in the upcoming period. Proper risk analysis will lead to minimizing project failures. The proposed successful combination of reliable project planning tools from different investment areas can prove to be beneficial in the future power and engineering investments, and guarantee their sustainability and profitability.

Keywords: capital investments, lean six sigma, logical framework approach, logical framework matrix, one belt one road initiative, project management tools, quality function deployment, Southeastern Europe, total quality management

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Authors: Andrea Bellucci, Martina Tofi

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The aim of paper is to analyze business models of bancassurance in Italy for life business. The life insurance business is very developed in the Italian market and banks branches have 80% of the market share. Given its maturity, the life insurance market needs to consolidate its organizational form to allow for the development of non-life business, which nowadays collects few premiums but represents a great opportunity to enlarge the market share of bancassurance using its strength in the distribution channel while the market share of independent agents is decreasing. Starting with the main business model of bancassurance for life business, this paper will analyze the performances of life companies in the Italian market by balance sheet indicators and by main discriminant variables of business models. The study will observe trends from 2013 to 2015 for the Italian market by exploiting a database managed by Associazione Nazionale delle Imprese di Assicurazione (ANIA). The applied approach is based on a bottom-up analysis starting with variables and indicators to define business models’ classification. The statistical classification algorithm proposed by Ward is employed to design business models’ profiles. Results from the analysis will be a representation of the main business models built by their profile related to indicators. In that way, an unsupervised analysis is developed that has the limit of its judgmental dimension based on research opinion, but it is possible to obtain a design of effective business models.

Keywords: bancassurance, business model, non life bancassurance, insurance business value drivers

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Authors: Tahmina Akhter

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In the present work, we make a study of the repercussions of the pandemic generated by Covid-19 in the real estate market, this disease has affected almost all sectors of the economy across different countries in the world, including the real estate markets. This documentary research, basically focused on the years 2021 and 2022, as we seek to focus on the strongest time of the pandemic. We carried out the study trying to take into account the repercussions throughout the world and that is why the data we analyze takes into account information from all continents as possible. Particularly in the US, Europe and China where the Covid-19 impact has been of such proportions that it has fundamentally affected the housing market for middle-class housing. In addition, a risk has been generated, the investment of this market, due to the fact that companies in the sector have generated losses in certain cases; in the Chinese case, Evergrande, one of the largest companies in the sector, fell into default.

Keywords: COVID-19, real estate market, statistics, pandemic

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Authors: Euripides Antoniades

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In 1821, the Greek Revolution movement, under the political influence that arose from the French revolution, and the corresponding movements in Italy, Germany and America, demanded the liberation of the nation and the establishment of an independent national state. Published topics in the British press regarding the Greek Revolution, focused on: a)the right of the Greeks to claim their freedom from Turkish domination in order to establish an independent state based on the principle of national autonomy, b)criticism regarding Turkish rule as illegal and the power of the Ottoman Sultan as arbitrary, c)the recognition of the Greek identity and its distinction from the Turkish one and d)the endorsement Greeks as the descendants of ancient Greeks. The London Times is a print publication that presents, in chronological or thematic order, the news, opinions or announcements about the most important events that have occurred in a place during a specified period of time. A combination of qualitative and quantitative content analysis was applied. An attempt was made to record Greek Revolution references along with the usage of specific words and expressions that contribute to the representation of the historical events and their exposure to the reading public. Key finds of this research reveal that a)there was a frequency of passionate daily articles concerning the events in Greece, their length, and context in The Times of London, b)he British public opinion was influenced by this particular newspaper and c) he newspaper published various news about the revolution by adopting the role of animator of the Greek struggle. In fact, this type of news was the main substance of the The London Times’ structure, establishing a positive image about the Greek Revolution contributing to the European diplomatic development. These factors offered a change in the attitude of the British and Russians respectively assuming a positive approach towards Greece.

Keywords: Greece, revolution, press, the london times, great britain, mass media

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Authors: Aslihan Caliskan

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The term Mediterranean comes from the Latin “mediterraneus” (Medius, "middle" plus Terra, "land, earth"). For the ancient Romans, the Mediterranean was the center of the earth as they knew it. The desire to gain control of the Mediterranean has led to disputes between many nations throughout history, some of which continue to this day. The recent major natural gas discoveries in the Mediterranean have aggravated ongoing tensions in some neighboring countries. The sea border dispute between Turkey and Greece & Greek-Cypriot side is one of the most critical conflicts in the Mediterranean Sea region. This unresolved dispute has many implications for all countries involved, as well as for third parties that have direct or indirect interests in the region. The research question of this context is what are the implications of this controversial sea border problem on the maritime security of Turkey and its military spending. In this paper, the quantitative method is used. Records from the Turkish Defense Ministry, data from the Turkish naval forces have been obtained. In addition, literature research and the United Nations Convention on the Law of the Sea (UNCLOS) application cases were evaluated, and an incident analysis was carried out. This research shows that the sea border dispute issue has a significant impact on the Turkish military both in terms of the structures required to ensure maritime and border security, as well as rising military costs and its macroeconomic implications. The paper begins with a brief overview of relevant principles and methods applied for delimiting th esea borders. The paper continues with a brief description and a background of the sea border dispute between Turkey and Greece & Greek-Cypriot side in the light of the United Nations Convention on the Law of the Sea (UNCLOS). An analysis of the implications of the dispute on Turkey’s maritime security and its military spending is provided in the following chapters. The paper ends with concluding remarks of the author, including suggestions for the way forward.

Keywords: sea border security, mediterranean sea, greece-turkey dispute, limitation of sea, united nations convention on the law of the sea (UNCLOS)

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Authors: Bhawat Chiamjinnawat

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The agri-food market transformation has implied market growth for the fruit industry in Thailand. This article focuses on analysis of farmer competence and farm resources which affect market strategies used by fruit farmers in Chanthaburi province of Thailand. The survey data were collected through the use of face-to-face interviews with structured questionnaires. This study identified 14 drivers related to farmer competence and farm resources of which some had significant effect on the decision to use either high-value markets or traditional markets. The results suggest that farmers who used high-value markets were better educated and they had longer experience and larger sized business. Identifying the important factors that match with the market transformation provides policy with opportunities to support the fruit farmers to increase their market power. Policies that promote business expansion of agricultural cooperatives and knowledge sharing among farmers are recommended to reduce limitations due to limited knowledge, low experience, and small business sizes.

Keywords: farmer competence, farm resources, fruit industry, high-value markets, Thailand

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Authors: Emine Zeytinli

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Ottoman carpets were depicted in Renaissance painting while they were exported commercially. The carpets were highly demanded and used by the middle and upper classes of Western European countries. The motifs, designs, patterns, and ornamentation of these carpets were decorative objects of luxury for Western European residences as well as paintings. Oriental carpets found their way into European market already from the medieval times to the present century. They were considered as luxury items first, however, demanded by middle classes in Europe and North America within the nineteenth century. This century brought unprecedented changes in production and consumption in the world. Expanding industries created quick urbanization, changed the city life and new types of goods dominated the entire century. Increases in income allowed Europeans to spend on luxury items, consumers taste changed in number of ways including furniture and decoration. Use of a carpet in the orient lifestyle often considered as an art object with Western aesthetic sensibility. A carpet with an oriental character, an essential part of home decoration, was highly appreciated for floor, table covering and wall hanging. Turkish carpets with distinctive classical style, patterns, and colours were changed for the tastes of European consumers. This paper attempts to analyse how the taste and preferences of European and American consumers increased their buying of oriental objects namely carpets. The production of local hand woven carpet industry developed, carpet factories were set up and special weaving schools were opened in some major waving centres, and carpet weaving became one of the main manufacturing and export commodity of the empire. All of these attempts increased the reputation and market share in international market. The industry flourished, commercially operated carpet looms, sales revenues and export increased unprecedentedly. British and Ottoman archival documents, parliamentary papers and travel notes were used to analysed above mention effect on how the foreign demand changed designs of carpets and the business itself, how the production in households moved to the commercial premises and a flourished the industry.

Keywords: consumption patterns, carpet weaving, ottoman oriental carpets, commercialisation

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Authors: Yavuz Erdoğan, Hidayet Çiftçi

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Cyberbullying, a phenomenon among adolescents, is defined as actions that use information and communication technologies such as social media to support deliberate, repeated, and hostile behaviour by an individual or group. With the advancement in communication and information technology, cyberbullying has expanded its boundaries among students in schools. Thus, parents, psychologists, educators, and lawmakers must become aware of the potential risks of this phenomenon. In the light of these perspectives, this study aims to investigate the relationships between cyberbullying perception and Facebook attitudes of Turkish students. A survey method was used for the study and the data were collected by “Cyberbullying Perception Scale”, “Facebook Attitude Scale” and “Personal Information Form”. For this purpose, study has been conducted during 2014-2015 academic year, with a total of 748 students with 493 male (%65.9) and 255 female (%34.1) from randomly selected high schools. In the analysis of data Pearson correlation and multiple regression analysis, multivariate analysis of variance (MANOVA) and Scheffe post hoc test has been used. At the end of the study, the results displayed a negative correlation between Turkish students’ Facebook attitudes and cyberbullying perception (r=-.210; p<0.05). In order to identify the predictors of students’ cyberbullying perception, multiple regression analysis was used. As a result, significant relations were detected between cyberbullying perception and independent variables (F=5.102; p<0.05). Independent variables together explain 11.0% of the total variance in cyberbullying scores. The variables that significantly predict the students’ cyberbullying perception are Facebook attitudes (t=-5.875; p<0.05), and gender (t=3.035; p<0.05). In order to calculate the effects of independent variables on students’ Facebook attitudes and cyberbullying perception MANOVA was conducted. The results of the MANOVA indicate that the Facebook attitudes and cyberbullying perception were significantly differed according to students’ gender, age, educational attainment of the mother, educational attainment of the father, income of the family and daily usage of internet.

Keywords: facebook, cyberbullying, attitude, internet usage

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Authors: Marin Mandić, Elis Sutlović, Tonći Modrić, Luka Stanić

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With the restructuring and deregulation of the power system, storage owners, generation companies or private producers can offer their multiple services on various power markets and earn income in different types of markets, such as the day-ahead, real-time, ancillary services market, etc. During the COVID-19 pandemic, electricity prices, as well as ancillary services prices, increased significantly. The optimization of the energy storage operation was performed using a suitable model for simulating the operation of a pumped storage hydropower plant under market conditions. The objective function maximizes the income earned through energy arbitration, regulation-up, regulation-down and spinning reserve services. The optimization technique used for solving the objective function is mixed integer linear programming (MILP). In numerical examples, the pumped storage hydropower plant operation has been optimized considering the already achieved hourly electricity market prices from Nord Pool for the pre-pandemic (2019) and the pandemic (2020 and 2021) years. The impact of the electricity market prices during the COVID-19 pandemic on energy storage operation is shown through the analysis of income, operating hours, reserved capacity and consumed energy for each service. The results indicate the role of energy storage during a significant fluctuation in electricity and services prices.

Keywords: electrical market prices, electricity market, energy storage optimization, mixed integer linear programming (MILP) optimization

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Authors: Rajat Kapoor

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Indian Real Estate sector is the second largest employer after agriculture and is slated to grow at 30 percent over the next decade. Indian cities have shown tumultuous growth since last two decades. With the growing need of infrastructure, it has become inevitable for real estate sector to adopt more organized and transparent system of investment. SPVs such as REITs ensure transparency facilitating accessibility to invest in real estate for those who find it difficult to purchase real estate as an investment option with a realistic income expectation from their investment. RIETs or real estate investment trusts is an instrument of pooling funds similar to that of mutual funds. In a simpler term REIT is an Investment Vehicle in the form a trust which holds & manages large commercial rent¬ earning properties on behalf of investors and distributes most of its profit as dividends. REIT enables individual investors to invest their money in commercial real estate assets in a diversified portfolio and on the other hand provides fiscal liquidity to developers as easy exit option and channel funds for new projects. However, the success REIT is very much dependent on the taxation structure making such models attractive and adaptive enough for both developers and investors to opt for such investment option. This paper is intended to capture an overview of REITs with context to Indian real estate scenario.

Keywords: Indian real estate, real estate infrastructure trusts, urban finance, infrastructure investment trusts

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Authors: Kübra Aktaş, Nermin Bilgiçli, Tayyibe Erten, Perihan Kübra Çiçek

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In this research, different wheat-legume flour blends were used in Turkish noodle preparation with the aid of some gums (xanthan and guar). Chickpea, common bean and soy flours were used in noodle formulation at 20% level with and without gum (1%) addition. Some physical, chemical and sensory properties of noodles were determined. Water uptake, volume increase and cooking loss values of the noodles changed between 92.03-116.37%, 125.0-187.23% and 4.88-8.10%, respectively. Xanthan or guar gam addition decreased cooking loss values of legume fortified noodles. Both legume flour and gum addition significantly (p<0.05) affected the color values of the noodles. The lowest lightness (L*), redness (a*) and the highest yellowness (b*) values were obtained with soy flour usage in noodle formulation. Protein and ash values of noodles ranged between 15.14 and 21.82%; 1.62 and 2.50%, respectively, and the highest values were obtained with soy flour usage in noodle formulation. As a result of sensory evaluation, noodles containing chickpea flour and guar gum were rated with higher taste, odor, appearance and texture scores compared to other noodle samples.

Keywords: noodle, legume, soy, chickpea, common bean, gum

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Authors: Gizem İntepe, Eti Mizrahi

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Investment and financing decisions are influenced by various economic features. Detailed analysis should be conducted in order to make decisions not only by companies but also by governments. Such analysis can be conducted either at the company level or on a sectoral basis to reduce risks and to maximize profits. Sectoral disaggregation caused by seasonality effects, subventions, data advantages or disadvantages may appear in sectors behaving parallel to BIST (Borsa Istanbul stock exchange) Index. Proposed logistic indices could serve market needs as a decision parameter in sectoral basis and also helps forecasting activities in import export volume changes. Also it is an indicator of logistic activity, which is also a sign of economic mobility at the national level. Publicly available data from “Ministry of Transport, Maritime Affairs and Communications” and “Turkish Statistical Institute” is utilized to obtain five logistics indices namely as; exLogistic, imLogistic, fLogistic, dLogistic and cLogistic index. Then, efficiency and reliability of these indices are tested.

Keywords: economic activity, export trade data, import trade data, logistics indices

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Authors: M. Hakan Arslan, I. Hakkı Erkan

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Overstrength factor is an important parameter of load reduction factor. In this research, the overstrength factor (Ω) of reinforced concrete (RC) buildings and the parameters of Ω in TEC-2016 draft version have been explored. For this aim, 48 RC buildings have been modeled according to the current seismic code TEC-2007 and Turkish Building Code-500-2000 criteria. After modelling step, nonlinear static pushover analyses have been applied to these buildings by using TEC-2007 Section 7. After the nonlinear pushover analyses, capacity curves (lateral load-lateral top displacement curves) have been plotted for 48 RC buildings. Using capacity curves, overstrength factors (Ω) have been derived for each building. The obtained overstrength factor (Ω) values have been compared with TEC-2016 values for related building types, and the results have been interpreted. According to the obtained values from the study, overstrength factor (Ω) given in TEC-2016 draft code is found quite suitable.

Keywords: reinforced concrete buildings, overstrength factor, earthquake, static pushover analysis

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Authors: Trisiladi Supriyanto

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This study aims to establish a concept of rate of profit on Islamic banking that can create economic justice and stability in the Islamic Financial Market (Banking and Capital Markets). A rate of profit that creates economic justice and stability can be achieved through its role in maintaining the stability of the financial system in which there is an equitable distribution of income and wealth. To determine the role of the rate of profit as the basis of the profit sharing system implemented in the Islamic financial system, we can see the connection of rate of profit in creating financial stability, especially in the asset-liability management of financial institutions that generate a stable net margin or the rate of profit that is not affected by the ups and downs of the market risk factors, including indirect effect on interest rates. Furthermore, Islamic financial stability can be seen from the role of the rate of profit on the stability of the Islamic financial assets value that are measured from the Islamic financial asset price volatility in the Islamic Bond Market in the Capital Market.

Keywords: economic justice, equitable distribution of income, equitable distribution of wealth, rate of profit, stability in the financial system

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Authors: Hammad Riaz, Abubakr Saeed

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Environmental Management System (EMS), i.e., ISO 14001 helps to build corporate reputation, legitimacy and can also be considered as firms’ strategic response to institutional pressure to reduce the impact of business activity on natural environment. The financial outcomes of certifying with ISO 14001 are still unclear and equivocal. Drawing on institutional and market learning theories, the impact of ISO 14001 on firms’ market performance is examined for Chinese firms. By employing rigorous event study approach, this paper compared ISO 14001 certified firms with non-certified counterpart firms based on different matching criteria that include size, return on assets and industry. The results indicate that the ISO 14001 has been negatively signed by the investors both in the short and long-run. This paper suggested implications for policy makers, managers, and other nonprofit organizations.

Keywords: ISO 14001, legitimacy, institutional forces, event study approach, emerging markets

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Authors: Mine Tanaç Zeren

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The traditional architectural style or the vernacular architecture can be considered modern and permanent in terms of reflecting the community’s lifestyle, reasonable interpretation of the material and the structure, and the building and the environment relationship’s integrity. When vernacular architecture is examined, it is seen that sustainable building design approaches are achieved at the very beginning by adapting to climate conditions. The aim of the sustainable design approach is to maintain to adapt to the characteristics of the topography of the land and to the climatic conditions, minimizing the energy use by the building material and structural elements. Traditional Turkish House, as one of the representatives of the traditional and vernacular architecture in Anatolia, has a sustainable building design approach as well, which can be read both from the space organization, the section, the volume, and the building components and building details. The only effective factor that human beings cannot change and have to adapt their constructions and settlements to is climate. The vernacular settlements of vernacular architecture in Anatolia, “Traditional Turkish Houses,” are generally formed as concentric settlements in desert conditions and climates or separate and dependently formations according to the wind and the sun in moist areas. They obtain the sustainable building design criteria. This paper aims to put forward the sustainable building design approaches of vernacular architecture in Anatolia. There are four main different climatic conditions depending on the regional differentiations in Anatolia. Taking these different climatic and topographic conditions into account, it has been seen that the vernacular housing features shape and differentiate from each other due to the changing conditions. What is differentiating is the space organization, design of the shelter of the building, material, and structural system used. In this paper, the sustainable building design approaches of Anatolian vernacular architecture will be examined within these four different vernacular settlements located in Aegean Region, Marmara Region, Black Sea Region, and Eastern Region. These differentiated features and how these features differentiate in order to maintain the sustainability criteria will be the main discussion part of the paper. The methodology of this paper will briefly define these differentiations and the sustainable design criteria. The sustainable design approaches and these differentiated items will be read through the design criteria of the shelter of the building and the material selection criteria according to climatic conditions. The methods of preventing energy loss will be examined. At the end of this research, it is going to be seen that the houses located in different parts of Anatolia, depending on climate and topographic conditions to be able to adapt to the environment and maintain sustainability, differ from each other in terms of space organization, structural system, and material use, design of the shelter of the building

Keywords: sustainability of vernacular architecture, sustainable design criteria of traditional Turkish houses, Turkish houses, vernacular architecture

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Authors: Sasitorn Chetanont

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The objectives of this study are to find out the approaches to promote healthy recreation activities for elderly tourists and develop Bang Nam Phueng Floating Market to be a health tourism attraction. The research methodology was to analyze internal and external situations according to MP-MF and the MC-STEPS principles. As for the results of this study the researcher found that the healthy recreational activities for elderly tourists could be divided in 7 groups; travelling Bang Nam Phueng Floating Market activity, homestay relaxation, arts center platform activity, healthy massage activity, paying homage to a Buddha image activity, herbal joss-stick home activity, making local desserts and food activity.

Keywords: elderly tourists, recreation activities, Bang Nam Phueng Floating Market, health tourism

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Authors: D. Tloczynski

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The main aim of this article is to present a balance of the decade of Polish air transport market in the European Union having taking into account selected entities of the aviation market. This article analyzes the functioning of the Polish air transport market after the Polish accession to the European Union. During the study two main areas were pointed: shipping activity and activity of the airports. The most important benefits of integration and the benefits of introducing of the open sky policy were indicated. The last part of the article presents the perspectives of development of air traffic.

Keywords: air transport, airports, development air transport, European Union, Poland

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Authors: Alexander Marx

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Measuring and mitigating market risk is essential for the stability of enterprises, especially for major banking corporations and investment bank firms. To employ these risk measurement and mitigation processes, the Value at Risk (VaR) is the most commonly used risk metric by practitioners. In the past years, we have seen significant weaknesses in the predictive performance of the VaR in times of financial market crisis. To address this issue, the purpose of this study is to investigate the value-at-risk (VaR) estimation models and their predictive performance by applying a series of backtesting methods on the stock market indices of the G7 countries (Canada, France, Germany, Italy, Japan, UK, US, Europe). The study employs parametric, non-parametric, and semi-parametric VaR estimation models and is conducted during three different periods which cover the most recent financial market crisis: the overall period (2006–2022), the global financial crisis period (2008–2009), and COVID-19 period (2020–2022). Since the regulatory authorities have introduced and mandated the Conditional Value at Risk (Expected Shortfall) as an additional regulatory risk management metric, the study will analyze and compare both risk metrics on their predictive performance.

Keywords: value at risk, financial market risk, banking, quantitative risk management

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Authors: Faris Algarni

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The Kingdom of Saudi Arabia adopted a new law of e-commerce on July 10, 2019, which is the first Saudi law regarding e-commerce. The practice of e-commerce has been started in Saudi Arabia a few years ago with no specific rules to govern e-commerce in the Kingdom. The adoption of the law raises the concern of the ability of the law to provide real protection to both the investors and the customers. Based on that, this article seeks to respond to some questions related to the protection of investors of e-commerce in Saudi Arabia, using a quantitative method through questionnaires to gather primary data. The study tried to find the impact of adopting a new Saudi law of e-commerce on the protection of the investors from the point of view of those investors. By answering this main question, this article provides an answer to the question of whether there is a need to reform the Saudi law of e-commerce to convince existing and potential foreign investors to invest in the Kingdom through e-commerce. Questions were put to the respondents to determine their level of satisfaction with the Saudi law of e-commerce and what reforms to that system would enhance the attractiveness of the Kingdom as an investment environment for e-commerce investors, based on the information gathered and the analysis of them. A key finding is that the law of e-commerce is a core factor in the decision of investors to continue investing in the e-commerce market in Saudi Arabia. A subsequent finding is that some of the respondents are not fully satisfied with the new law and think that the law provides more protection to the customers than the investors. So, they are suggesting some legal reforms to be implemented in the bylaw of e-commerce, which is not adopted yet in order to attract them to continue investing in the Kingdom.

Keywords: e-commerce, law, investors, protection, Saudi Arabia

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Authors: Chaiwat Kongsom, Vitoon Panyakul

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The objective of this study was to assess the production and market of certified organic products in Thailand. A purposive sampling technique was used to identify a sample group of 154 organic entrepreneurs for the study. A survey and in-depth interview were employed for data collection. Also, secondary data from organic agriculture certification body and publications was collected. Then descriptive statistics and content analysis technique were used to describe about production and market of certified organic products in Thailand. Results showed that there were 9,218 farmers on 213,183.68 Rai (83,309.2 acre) of certified organic agriculture land (0.29% of national agriculture land). A total of 57.8% of certified organic agricultural lands were certified by the international certification body. Organic farmers produced around 71,847 tons/year and worth around THB 1,914 million (Euro 47.92 million). Excluding primary producers, 471 operators involved in the Thai organic supply chains, including processors, exporters, distributors, green shops, modern trade shops (supermarket shop), farmer’s markets and food establishments were included. Export market was the major market channel and most of organic products were exported to Europe and North America. The total Thai organic market in 2014 was estimated to be worth around THB 2,331.55 million (Euro 58.22 million), of which, 77.9% was for export and 22.06% was for the domestic market. The largest exports of certified organic products were processed foods (66.1% of total export value), followed by organic rice (30.4%). In the domestic market, modern trade was the largest sale channel, accounting for 59.48% of total domestic sales, followed by green shop (29.47%) and food establishment (5.85%). To become a center of organic farming and trading within ASEAN, the Thai organic sector needs to have more policy support in regard to agricultural chemicals, GMO, and community land title. In addition, appropriate strategies need to be developed.

Keywords: certified organic products, production, market, Thailand

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Authors: Carlo Gozzelino

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Since the early 2000s, the phenomenon of the two-sided markets has been of growing interest in academic literature as such kind of markets differs by having cross-side network effects and same-side network effects characterizing the transactions, which make the analysis different when compared to traditional seller-buyer concept. Due to such externalities, pricing strategies can be based on subsidizing the participation of one side (i.e. considered key for the platform to attract the other side) while recovering the loss on the other side. In recent years, several players of the Italian financial intermediation industry moved from an integrated landscape (i.e. selling their own products) to an open one (i.e. intermediating third party products). According to academic literature such behavior can be interpreted as a merchant move towards a platform, operating in a two-sided market environment. While several application of two-sided market framework are available in academic literature, purpose of this paper is to use a two-sided market concept to suggest a new framework applied to financial intermediation. To this extent, a model is developed to show how competitors behave when vertically integrated and how the peculiarities of a two-sided market act as an incentive to disintegrate. Additionally, we show that when all players act as a platform, the dynamics of a two-sided markets can allow at least a Nash equilibrium to exist, in which platform of different sizes enjoy positive profit. Finally, empirical evidences from Italian market are given to sustain – and to challenge – this interpretation.

Keywords: financial intermediation, network externalities, two-sided markets, vertical differentiation

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Authors: Kaine Gulozer

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Listening comprehension in a foreign language context has been a constant challenge for Turkish speakers of English. Syntactic priming (SP) of relative clauses might affect the perception of subsequent sentences of identical structure and this could have an impact on the listening comprehension of second or foreign language learners. There has been little attempt to investigate the syntactic priming of English subject relative clauses and object relative clauses in relation to perception for the learners of English in Turkish context. This study investigates SP effects on low-proficiency EFL learners’ production of English relative clauses. Both qualitative and quantitative method along with a pre-test and post-test tasks were adopted, recruiting 62 EFL learners to receive a six-week listening instruction on relative clauses. Testing instruments for language production included the two tasks: (1) the visual- cued presentation and recall and (2) the auditory-cued presentation and recall. Students’ listening comprehension in task 1 and 2 were recorded and transcribed. Fifteen of the participants were also interviewed. The results of the dependent samples t-test analyses revealed that SP had a significant effect on the overall perception of relative clauses.

Keywords: listening comprehension, relative clauses, structural priming, syntactic persistance, syntactic priming

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Authors: Daniel Mokatsanyane, Johnny Jansen Van Rensburg

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This paper is a concise introduction of the risk management on the water derivatives market. Water, a new commodity in the market, is one of the most important commodity on earth. As important to life and planet as crops, metals, and energy, none of them matters without water. This paper presents a brief overview of water as a tradable commodity via a new first of its kind futures contract on the Nasdaq Veles California Water Index (NQH2O) derivative instrument, TheGeneralised Autoregressive Conditional Heteroscedasticity (GARCH) statistical model will be the used to measure the water price volatility of the instrument and its performance since it’s been traded. describe the main products and illustrate their usage in risk management and also discuss key challenges with modeling and valuation of water as a traded commodity and finally discuss how water derivatives may be taken as an alternative asset investment class.

Keywords: water derivatives, commodity market, nasdaq veles california water Index (NQH2O, water price, risk management

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Authors: Hubert Pun

Abstract:

When a manufacturer outsources the production of a product, it distributes its intellectual property (IP) into a supply chain that it may not be able to fully control. An IP agreement between a manufacturer and its suppliers is a popular solution to address the challenge of supplier-copycatting. The goal of this paper is to examine the impact of copycatting, from both the supplier and third-party firms, and the effectiveness of an IP agreement. Specifically, we use a game-theoretic approach to examine a system where a manufacturer outsources to a supplier. The supplier and a third-party firm decide whether or not to enter the market with copycat products while the manufacturer selects the level of marketing investment. The manufacturer can reduce the threat of supplier-copycatting by signing an IP agreement. We find that the manufacturer can be worse off from signing an IP agreement with its supplier, even if the IP agreement is costless and perfectly enforceable. We show that a manufacturer can deter copycat products through vertical integration and IP agreements and we outline the instances where each method is preferred. Furthermore, we find that the manufacturer may choose not to invest in quality improvements as a copycat deterrence strategy. We show that the supplier can benefit from the manufacturer’s decision to sign an IP agreement and that the supplier and the consumers can benefit from government regulations against copycat products. Our paper demonstrates the strengths and limitations of various copycat deterrence strategies when a supplier and third-party may produce copycat products.

Keywords: coopetitive supply chain, copycat, government regulation, intellectual property

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Authors: Baki Dursun, Kemal Benk

Abstract:

English as a Lingua Franca (ELF) has become an increasingly hot topic in many of the developing countries including Turkey. Likewise, in most of these expanding circle countries the way of teaching English has been redesigned in accordance with Lingua Franca Core. Admittedly, the focus was on Grammar-based teaching formerly; however, with the introduction of the ELF, the shift is now more on teaching speaking abilities and strategies of negotiation of meaning. However, there are several reasons for this shift, one of the major contributions stems from the teacher training programs offered by Turkish universities as M.A. programs. Therefore, the aim of this paper is to compare and contrast the similarities and divergences among the instructors who have taken ELF classes in their teacher-training program and those who have not. With a longitudinal design, for five months, classes of two different groups of teachers (ELF Group vs. Traditional Group) have been observed and three teachers have been selected for each group. During the observations, principles of Lingua Franca Core offered by Jenkins have been taken into account and used to form the rubric for the observations. After the five-month period, a Likert scale type questionnaire has been given to the students to explore their level of anxiety while speaking. Independent samples t-test have been administered to see the groups differences statistically. The results of the study will be presented during the conference.

Keywords: ELF, teacher training, speaking, anxiety

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Authors: Zakaria S. G. Hegazy, Walid M. A. Ahmed

Abstract:

This paper examines the dependence structure of Islamic stock markets on Bitcoin’s realized volatility components in bear, normal, and bull market periods. A quantile regression approach is employed, after adjusting raw returns with respect to a broad set of relevant global factors and accounting for structural breaks in the data. The results reveal that upside volatility tends to exert negative influences on Islamic developed-market returns more in bear than in bull market conditions, while downside volatility positively affects returns during bear and bull conditions. For emerging markets, we find that the upside (downside) component exerts lagged negative (positive) effects on returns in bear (all) market regimes. By and large, the dependence structures turn out to be asymmetric. Our evidence provides essential implications for investors.

Keywords: cryptocurrency markets, bitcoin, realized volatility measures, asymmetry, quantile regression

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Authors: Chih Chin Yang

Abstract:

The paper proposed a new theory of intellectual capital (so called IC) and a value approach in associated with production and market. After an in-depth review and research analysis of leading firms in this field, a holistic intellectual capital model is discussed, which involves transport, delivery supporting, and interface and systems of on intellectual capital. Through a quantity study, it is found that there is a significant relationship between the product value and infrastructure in a company. The product values are transferred from intellectual capital elements which includes three elements of content and the enterprise includes three elements of infrastructure in its market and product values of enterprise.

Keywords: enterprise, product value, intellectual capital, market and product values

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Authors: Mohit Kumar, Mayur Betharia

Abstract:

Healthcare domain, with the emergence of Electronic Medical Record (EMR), collects a lot of data which have been attracting Data Mining expert’s interest. In the past, doctors have relied on their intuition while making critical clinical decisions. This paper presents the means to analyze the Medical workflows to get business insights out of huge dumped medical databases. Market Basket Analysis (MBA) which is a special data mining technique, has been widely used in marketing and e-commerce field to discover the association between products bought together by customers. It helps businesses in increasing their sales by analyzing the purchasing behavior of customers and pitching the right customer with the right product. This paper is an attempt to demonstrate Market Basket Analysis applications in healthcare. In particular, it discusses the Market Basket Analysis Algorithm ‘Apriori’ applications within healthcare in major areas such as analyzing the workflow of diagnostic procedures, Up-selling and Cross-selling of Healthcare Systems, designing healthcare systems more user-friendly. In the paper, we have demonstrated the MBA applications using Angiography Systems, but can be extrapolated to other modalities as well.

Keywords: data mining, market basket analysis, healthcare applications, knowledge discovery in healthcare databases, customer relationship management, healthcare systems

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Authors: Chanpen Meenakorn

Abstract:

This research aims to study; (1) behavior of the tourists affecting the satisfaction level of tourism at the Amphawa floating market in Samut Songkhram province, (2) to study the satisfaction level of tourism at the Amphawa floating market. The research method will use quantitative research; data was collected by questionnaires distributed to the tourist who visits the Amphawa floating market for 480 samples. Data was analyzed by SPSS software to process descriptive statistic including frequency, percentage, mean, standard deviation and inferential statistic is t-test, F-test, and chi-square. The results showed that the behavior of tourists had known tourist attractions in the province comes from the mouth of relatives and friends suggested that he come here before and the reasons to visit is to want to pay homage to the various temples for the frequency to visit travel an average of 2-4 times and  the satisfaction of the tourists in the province found that the satisfaction level of tourists in the province at the significant level of the place, convenient  and services have a high level of satisfaction.

Keywords: amphawa floating market behavior of the tourists, satisfaction level, sustainable tourism, Samut Songkhram province

Procedia PDF Downloads 345