<rdf:RDF xmlns:rdf="http://www.w3.org/1999/02/22-rdf-syntax-ns#" xmlns:dcterms="http://purl.org/dc/terms/">
<rdf:Description rdf:about="https://omeka.ibu.edu.ba/items/show/1718">
    <dcterms:title><![CDATA[Sovereign Credit Risk and Credit Default Swap Spread  Reflections]]></dcterms:title>
    <dcterms:abstract><![CDATA[The already experienced turbulence in the global financial system has  focused the attentions of the market participants to especially sovereign  risk; its major determinants, systematic nature as well as its contagion  potential. In this study, the direction of the analysis of the sovereign risk is  within the framework of the credit default swap (cds) transactions. The  sovereign risk can also be elaborated by using the bond spreads of the  sovereign but the latter is also driven by factors other than the sovereign  risk such as the interest rate movements, supply conditions, liquidity etc.  The already available economical and financial data provides invaluable  opportunity to analyze the sovereign risk anticipation of the financial  markets as it incorporates the valuation of cds in real crisis times of 2008  and 2009 and 2011-first half of 2012 as well as the before and after  economic and financial data of the selected countries namely Brazil,  Turkey, Russia, Korea, Greece and Spain.  The attitude of the investors towards risk as reflected in the financial  market conditions affect the cds spreads of the sovereigns and this creates  commonality which can be measured by the correlation between the  individual sovereign cds spreads. In order to explain the co-movements in  the cds spreads of the selected countries into a smaller number of  common factors, principal component analysis was performed and it is  seen that the first principal component captures nearly 62 percent and the  first three component captures nearly 90 percent of the correlation matrix  In this Study, in order to capture the relationships between the cds spreads  and the country-specific and the global financial and economic factors,  regression analysis has been performed. The country specific factors are  determined as foreign exchange rate, foreign currency reserves, local stock  market returns, external debt, and current account balance as a  percentage of gross domestic products. The global financial and economic  factors added to the model as independent variables are indexes about US  Stock Market Return, US Treasury yields, US corporate yields and Emerging market yields, as well as indicators of equity, term and volatility premium  and bond and equity flows.  The relationship between the global financial variables and cds spreads  reveals the fact that the risk appetite in the global financial market affects  the credit risk perception and consequently the cds spreads regardless of  the employed indicator of the risk appetite. Specifically, it is also  determined that domestic economic situation has significant effects on cds  spreads (excluding Greece who experienced considerable turmoil in its  economic and financial position), the local variables explain more than 75  percent of the cds spread level and this ratio increases to more than 80  percent when four emerging market countries are referred.  Keywords: Credit Default Swaps, Sovereign Risk, Global Financial  Indicators, Risk Appetite, Financial Crisis.]]></dcterms:abstract>
    <dcterms:publisher><![CDATA[International Burch University]]></dcterms:publisher>
    <dcterms:date><![CDATA[2013-05-10]]></dcterms:date>
    <dcterms:extent><![CDATA[1637]]></dcterms:extent>
    <dcterms:identifier><![CDATA[ISSN 978-9958-834-23-3     ]]></dcterms:identifier>
</rdf:Description><rdf:Description rdf:about="https://omeka.ibu.edu.ba/items/show/1719">
    <dcterms:title><![CDATA[The Dynamic Relationships between Stock Market  Capitalization Rate and Interest Rate in Turkey]]></dcterms:title>
    <dcterms:abstract><![CDATA[This paper investigates the long run and short-term relationships between  stock market capitalization rate and interest rates in Turkey over the  period 1998-2012. Prior to conducting the analysis in a time series, in  order to test the stability of the series, a unit root test was initially applied.  It is determined that both stock market capitalization rate and interest rate  series are not stationary. Long-run relationship is tested by Johansen  Cointegration tests and casual relationship is tested by Granger Causality  tests. According to the results of the study, there is long-run relationship  between stock market capitalization rate and interest rates while there is  not causal relationship between stock market capitalization rate and  interest rates in short term.  Keywords: Stock Market Capitalization Rate, Interest Rates, Cointegration,  Vector Error Correction Model (VECM), Causality.]]></dcterms:abstract>
    <dcterms:publisher><![CDATA[International Burch University]]></dcterms:publisher>
    <dcterms:date><![CDATA[2013-05-10]]></dcterms:date>
    <dcterms:extent><![CDATA[1556]]></dcterms:extent>
    <dcterms:identifier><![CDATA[ISSN 978-9958-834-23-3     ]]></dcterms:identifier>
</rdf:Description><rdf:Description rdf:about="https://omeka.ibu.edu.ba/items/show/1720">
    <dcterms:title><![CDATA[The Effects of Capital Structure Decisions on Firm  Performance: Evidence from Turkey]]></dcterms:title>
    <dcterms:abstract><![CDATA[The capital structure decisions of firms have a crucial importance on firms’ financial  performance. The capital structure concept is generally described as the  combination of debt and equity that make the total capital of firms. The selection  of capital components and use of these components play an important role during  the determining of financial strategies. Therefore, it is difficult to choose ideal  proportion of debt and equity. A good equilibrium of debt and equity can affect the  financial performance of company and the value of company. The profitability of an  enterprise is directly affected by capital structure decision.  Capital structure is the one of the most puzzling issues on corporate finance  literature. Beginning with the Modigliani and Miller’s (1958) research, there have  been a number of studies which have investigated the relationship between capital  structure and financial performance. Modigliani and Miller suggest that the value  of a firm is independent from its capital structure in an efficient market when there  is no tax factor. Thereby optimal capital structure cannot be reached according to  Modigliani and Miller’s approaches. This approach has been taken a number of  interests from scholars. The research came in for criticism since capital markets are  quite different from efficient market which Modigliani and Miller’s study based on.  The aim of this study is to investigate the effects of capital structure decisions on  firms’ profitability in manufacturing sector in Turkey. The data used in this research  corresponds to the financial statements of manufacturing companies collected  between 2002 and 2011. The regression analysis was employed by using financial  ratios obtained from financial statements of firms within the scope of analysis. As a  result, the capital structure components which have influence on firm performance  have been determined and general assessment has been made.  Keywords: Capital Structure, Firm Performance, Optimal Capital Structure,  Profitability, Financial Leverage, Regression Analysis.]]></dcterms:abstract>
    <dcterms:publisher><![CDATA[International Burch University]]></dcterms:publisher>
    <dcterms:date><![CDATA[2013-05-10]]></dcterms:date>
    <dcterms:extent><![CDATA[1557]]></dcterms:extent>
    <dcterms:identifier><![CDATA[ISSN 978-9958-834-23-3     ]]></dcterms:identifier>
</rdf:Description><rdf:Description rdf:about="https://omeka.ibu.edu.ba/items/show/1721">
    <dcterms:title><![CDATA[Effects of the global economic crisis and public spending  on income distribution in Bosnia and Herzegovina]]></dcterms:title>
    <dcterms:abstract><![CDATA[This research focuses on the relationship between public spending and  income distribution in Bosnia and Herzegovina (B&amp;H). In our empirical  strategy we rely on a unique survey data used to establish a proxy for  inequality over the observed period 2000-2010. In addition, we investigate  the consequences of contemporary global economic and financial crisis on  income distribution. We find indications that the global economic crisis,  with its B&amp;H onset in 2009-2010, has increased income inequality in B&amp;H.  Our findings also imply that increased public spending and improvement in  the quality of institutions in B&amp;H were supportive in reducing income  inequality over the observed period. After examining several institutional  indicators, we identify a particular importance of political stability in B&amp;H  as a determinant of income distribution and inequality. Disaggregated  analysis of public spending by functional and economic categories revealed  that higher expenditures for social protection and capital spending are  associated with lower income inequality. Contrary, higher expenditures for  education are linked with higher income inequality.  Keywords: Inequality, Income Distribution, Southeast Europe, Global  Economic Crisis, Public Spending, Education Expenditures, Health  Expenditures, Social Expenditures.]]></dcterms:abstract>
    <dcterms:publisher><![CDATA[International Burch University]]></dcterms:publisher>
    <dcterms:date><![CDATA[2013-05-10]]></dcterms:date>
    <dcterms:extent><![CDATA[1604]]></dcterms:extent>
    <dcterms:identifier><![CDATA[ISSN 978-9958-834-23-3     ]]></dcterms:identifier>
</rdf:Description><rdf:Description rdf:about="https://omeka.ibu.edu.ba/items/show/1722">
    <dcterms:title><![CDATA[Ethical Issues of the Child as Consumer]]></dcterms:title>
    <dcterms:abstract><![CDATA[This paper, entitled as &quot;Ethical issues of the child as consumer&quot; deals with  the major issues related to child as consumer and children&#039;s marketing.  Issues related to child as consumer are: what children buy how parents  affect children&#039;s consumer behavior, how children affect purchase decision  of their families and how relationship with peers affects children&#039;s  purchase decisions? Issues related to children&#039;s marketing are what the  effect of marketing on children’s behavior is and how children process  advertising messages. Special emphasis is on techniques that marketers  use when communicating with this group. The most important techniques  are those that are used on television and internet. Emphasis is also on  ethical issues of the marketing which has children as its target group.  Those ethical issues are from critics of marketing that it misleads children  to claims that it causes obesity and unhappiness. Main ideas of work are  that children are an important market for the producers and they have a  great market potential. Children are primary market for some products,  but they are also future market for products that they will use in future  and influential market on their families. They are group that is particularly  vulnerable to the messages that are sent to them. Children under age of 8  can&#039;t understand intention of advertiser which makes them easy to  mislead. Literature of significant authors in this field is used, such as:  McNeal, Gunter, Furnham, Calvert and others. Attention was also on  expert articles from this field. Content analysis of advertising messages  aimed at children in Bosnia and Herzegovina led to conclusion that those  messages are unethical in a large percentage. Unethical messages are  mostly in contrast of moral and social standards and they bring up false  claims. Besides that, in advertising messages for product that are intended  for parents children are used to encourage them on purchase. The study of  regulation of marketing to children in developed markets and in Bosnia  and Herzegovina proved that regulations of children&#039;s marketing in Bosnia  and Herzegovina isn&#039;t regulated enough by standards and norms. Bosnian  regulations are inconsistent with international standards that regulate this  field globally.  Keywords: Children’s Marketing, Advertising Messages Aimed At Children,  Criticism Of Marketing To Children, Regulation Of Marketing To Children.]]></dcterms:abstract>
    <dcterms:publisher><![CDATA[International Burch University]]></dcterms:publisher>
    <dcterms:date><![CDATA[2013-05-10]]></dcterms:date>
    <dcterms:extent><![CDATA[1521]]></dcterms:extent>
    <dcterms:identifier><![CDATA[ISSN 2303-4564     ]]></dcterms:identifier>
</rdf:Description><rdf:Description rdf:about="https://omeka.ibu.edu.ba/items/show/1723">
    <dcterms:title><![CDATA[The Implementation of MIS in Banks of Tuzla Canton]]></dcterms:title>
    <dcterms:abstract><![CDATA[Management Information Systems (MIS) are playing an important role in  the banking sector. Increasing speed and power of information and  communication technologies and their innovative applications enable  banks operating in developed economies to gain competitive advantage  and enhance their customer satisfaction. The purpose of this study is to  investigate the issue in the case of a transitional economy.  In particular, a survey study was conducted to audit the implementation of  MIS in the banking sector of Canton Tuzla, Bosnia and Herzegovina. The  data were collected from the employees who were users of MIS in major  banks operating in Canton Tuzla. The collected data were analyzed using  descriptive tests. The results revealed some interesting patterns. These  findings and their implications are discussed in detail. In the end, some  plausible directions are recommended for future research.  Keywords: Management Information Systems, Bosnia and Herzegovina,  Bank]]></dcterms:abstract>
    <dcterms:publisher><![CDATA[International Burch University]]></dcterms:publisher>
    <dcterms:date><![CDATA[2013-05-10]]></dcterms:date>
    <dcterms:extent><![CDATA[1563]]></dcterms:extent>
    <dcterms:identifier><![CDATA[ISSN 978-9958-834-23-3     ]]></dcterms:identifier>
</rdf:Description><rdf:Description rdf:about="https://omeka.ibu.edu.ba/items/show/1724">
    <dcterms:title><![CDATA[Audit Tenure and Audit Quality: Evidence from Turkey]]></dcterms:title>
    <dcterms:abstract><![CDATA[The rise of accounting scandals in the last decade has reduced trust of the  users in audited financial statements, so users have started questioning  the quality of audit work. This paper aims to test empirically whether  audit-firm tenure reduces audit quality. After the accounting scandals in  the USA and the Europe, and the associated failure of Arthur Andersen,  benefits of audit firm or partner rotation on audit quality becomes a  controversial subject. Sarbanes Oxley Act of 2002 considered audit firm  tenure as a potential area that needed to be investigated because the  consecutive years of auditor-client relationship has the potential to impair  auditor independence. It is argued that the audit quality and therefore the  quality of general purpose financial statements increase when a new  auditor with fresh and skeptical eyes evaluates the financial statements.  Using the same senior personnel on an audit engagement over a long  period of time believed to create self-interest and familiarity threats to  independence (Eilifsen, Messier, Glover and Prawit, 2010). For example, in  the Enron case, it appears that the auditors became too familiar with the  company personnel, such that independence in fact and in appearance  both may have been compromised (Ryken et al, 2007). Familiarity lead to  learned confidence about the results when making assumptions about  outcomes and using less rigorous audit procedures or static audit  programs.  According to the new Independent Audit Communiqué issued in December  2012 by Turkish Public Oversight Accounting and Auditing Standards Board  (POAASB), in an audit of the public interest entity, a firm shall not be the  auditor for more than seven years for the last ten years. In addition to  that, an individual shall not be a key audit partner for more than five years  in the last seven years. After such time the individual shall not be a member of the engagement team or be a key audit partner for the client  for two years (Official Gazette, 25809).  This paper tests whether a statistically significant association exists  between the audit firm tenure with a client and evidence of reduced audit  quality as measured by the propensity of modified audit opinions. We  assume that the decline in audit quality is indicated by the auditor not  issuing a modified opinion for firms whose financial statements are  materially misstated. Based on a sample of 253 firms listed on İstanbul  Stock Exchange (ISE) and 2277 firm-year observations of audit reports  during the 2002-2010 periods, the analysis produces evidence that the  number of consecutive years of audit firm-client relationship negatively  affects the auditor quality measured by the propensity of modified audit  opinions. We choose the 2008 and 2009 periods for our main analysis  because in 2010 a mandatory audit firm rotation policy was executed for  the companies listed in the ISE. Before this period Turkey has an  environment where the rotation policy is not mandatory. The results of  this study are expected to contribute the regulation of the quality of  auditing by the regulator (POAASB) with regard to auditor rotation.  Keywords: Audit Tenure, Audit Quality, Audit Opinion, Independence]]></dcterms:abstract>
    <dcterms:publisher><![CDATA[International Burch University]]></dcterms:publisher>
    <dcterms:date><![CDATA[2013-05-10]]></dcterms:date>
    <dcterms:extent><![CDATA[1468]]></dcterms:extent>
    <dcterms:identifier><![CDATA[ISSN 2303-4564     ]]></dcterms:identifier>
</rdf:Description><rdf:Description rdf:about="https://omeka.ibu.edu.ba/items/show/1725">
    <dcterms:title><![CDATA[IFRS Adoption and Audit LAG: Evidence from Turkey]]></dcterms:title>
    <dcterms:abstract><![CDATA[International Financial Reporting Standards (IFRS) adoption by the  European Union is one of the biggest events in the history of financial  reporting, making IFRS the most widely accepted financial reporting model  in the world. The issue of complexity of IFRS has become a major concern  among the preparers of financial statements, directors and auditors. Since  IFRS demands detailed disclosures, it requires more effort and time to  conduct the audit. Investors need reliable and timely information in order  to take correct decisions, and auditing is the process that assures users of  the reliability of the financial information that they require. This paper  empirically examined whether IFRS adoption would affect audit lag. Also in  this paper we investigated the factors (company size, sign of income,  opinion, auditor size, sector, gearing, auditor change) that may affect the  audit lag. In 2008 listed companies in the İstanbul Stock Exchange (ISE) are  required to prepare their financial statements compatible with IFRS  adopted by the European Union. Companies that listed in the ISE must  submit their separate financial statements within 10 weeks and  consolidated financial statements within 14 weeks of the financial yearend.  The sample comprises 248 companies listed in the ISE during the  period 2007 and 2008. The delays are measured as a function of the  number of days that elapse from the closure of the accounting period until  the date when the audit report is signed. In 2007, for solo financial  statement preparers 54% of them reported earlier than the expected 69th  day after a company’s financial year-end. About 46% of the ISE listed  companies reported late. In 2008, for solo financial statement preparers  35% of them reported earlier than the expected 67th day after a company’s  financial year-end. About 65% of the ISE listed companies reported late. In  2007, for consolidated financial statement preparers 56% of them reported earlier than the expected 97th day after a company’s financial  year-end. About 46% of the ISE listed companies reported late. In 2008, for  consolidated financial statement preparers 49% of them reported earlier  than the expected 95th day after a company’s financial year-end. About  51% of the ISE listed companies reported late. According to our preliminary  results there is an increase in audit delay after IFRS adoption both for solo  and consolidated financial statements.  Keywords: IFRS, Financial Reporting, Audit Lag, Turkey, Timely Reporting.]]></dcterms:abstract>
    <dcterms:publisher><![CDATA[International Burch University]]></dcterms:publisher>
    <dcterms:date><![CDATA[2013-05-10]]></dcterms:date>
    <dcterms:extent><![CDATA[1483]]></dcterms:extent>
    <dcterms:identifier><![CDATA[ISSN 2303-4564     ]]></dcterms:identifier>
</rdf:Description><rdf:Description rdf:about="https://omeka.ibu.edu.ba/items/show/1726">
    <dcterms:title><![CDATA[The Impact of Social Media in the Selection of Tourist  Destinations: University Students for a Research]]></dcterms:title>
    <dcterms:abstract><![CDATA[Internet, affecting every sector in the world, the tourism sector and  interaction between the consumer and the tourism sector has changed.  Consumers, separating time and money to buy touristic goods and  services, want to live in the negative sense experience without any  surprises. For this purpose, the consumers collect about the  product/service information from various sources. These sources of  information in the past, the traditional media and social environment of  the acquired information with limited today, in online environments more  comprehensive information is presented. Today, these online  environments, most importantly, are the social media platforms. Social  media platforms offer the opportunity to reach a very large audience in a  short time, on these platforms, the positive / negative images, thoughts  about touristic product / service, affects different degrees of consumers in  terms of sharing of experiences. In addition, the increase in the use of  smart phone consumers, as well as the use of internet social media makes  it easier to transport.  The purpose of this study is to determine the effect of social media in  choice of tourist destination of university students. For this purpose, a  questionnaire was developed. The questionnaire in order to improve 50  university students about an hour-long interview made and the meantime,  whether they used social media for the selection of a touristic destination,  which benefit from social media properties, on the purposes for which  they use social media in the process, asked and the answers given in the  literature used in conjunction with any item with the support of a total of  30 were obtained. Afterwards, a questionnaire was designed with the  support of expert opinion. The questionnaire was prepared, first as a pilot  study within the scope of the 100 people applied. After the pilot study, the  necessary arrangements have been made and the final version of the questionnaire, face-to-face interviews with 1748 university student was  applied throughout Turkey. The obtained data were analyzed with  statistical analysis program. According to the results of factor analysis for  the analysis of the validity of five different sizes were determined. These  are: &quot;Information Sharing&quot;, &quot; the Effect of the Members”, &quot;Acquisition of  Knowledge&quot;, &quot;the Effect of Well-known People&quot; and &quot;Accuracy of  Information&quot; dimensions. As a result of the reliability test, the individual  dimensions, the number of times the lowest and the highest alpha, was  determined to be 79% to 69%. According to the results, social media is  seen to be effective in the selection of tourist destination. Participants  used social media for the purpose of obtaining information, &quot;Acquisition of  Knowledge&quot; as a result of having the highest average size has been  determined. In this study, as well as recommendations for future work are  presented.  Keywords: Destination, Decision-Making Process, Social Media,  Information Resources, Destination Marketing, Internet]]></dcterms:abstract>
    <dcterms:publisher><![CDATA[International Burch University]]></dcterms:publisher>
    <dcterms:date><![CDATA[2013-05-10]]></dcterms:date>
    <dcterms:extent><![CDATA[1561]]></dcterms:extent>
    <dcterms:identifier><![CDATA[ISSN 2303-4564     ]]></dcterms:identifier>
</rdf:Description><rdf:Description rdf:about="https://omeka.ibu.edu.ba/items/show/1727">
    <dcterms:title><![CDATA[The Role of Religion on Turkey’s International Trade]]></dcterms:title>
    <dcterms:abstract><![CDATA[In the last decade, with the help of political stability, Turkish economy has  grown rapidly. After the financial crisis in 2001 not only economy but also  international trade volume has started to improve. The trade policy which  had focused on Customs Union with European Community changed and  resulted to expansion to other regions. Especially Middle East and Asian  countries’ share increased in Turkey’s total trade. As it is known, there  has been a debate about Turkey&#039;s shift of axis on foreign policies and on  international trade. In recent years Turkey carries out more active policies  in Middle East region. According to some views, a conservative and  religiously oriented government is the cause of the changes in policies. The  aim of this paper is to find the role of the religious affinity on Turkey&#039;s  international trade. Turkey&#039;s foreign trade will be analyzed by using Gravity  Theory Method. Panel regression method will be used for econometric  modeling. The variables used in the model covers 2002-20011 yearly data  of Turkey&#039;s bilateral trade volumes with main trade partners. In the first  section, a comparative analysis of Turkish foreign trade will be made  between the last decades and before. In the second section, the new  aspects on foreign policies and the effects on foreign trade will be  discussed. In the third section, the econometric analysis will be presented.  Finally, the empirical results will be discussed. It is expected that the  religious similarity plays a positive role in enhancing foreign trade.  Keywords: Gravity Theory, Trade, Religion, Turkey.]]></dcterms:abstract>
    <dcterms:publisher><![CDATA[International Burch University]]></dcterms:publisher>
    <dcterms:date><![CDATA[2013-05-10]]></dcterms:date>
    <dcterms:extent><![CDATA[1572]]></dcterms:extent>
    <dcterms:identifier><![CDATA[ISSN 2303-4564     ]]></dcterms:identifier>
</rdf:Description></rdf:RDF>