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Öğe Carbon emissions and the rising effect of trade openness and foreign direct investment: Evidence from a threshold regression model(Cell Press, 2023) Derindag, Omer Faruk; Maydybura, Alina; Kalra, Akash; Wong, Wing-Keung; Chang, Bisharat HussainThe relationship between carbon emissions, foreign trade openness, and FDI has been studied in prior studies. The previous studies, however, did not examine the link by focusing on carbon emissions in India's industrial sectors. Using carbon emission intensity as a threshold variable and a threshold regression model, we add to the existing studies by assessing the influence of India's industrial sector on carbon emissions. According to the study's findings, there are three threshold effects of foreign direct investment and foreign trade openness on industrial carbon emissions. FDI harms industrial carbon emissions, as it has a characteristically declining and then rising effect coefficient on industrial carbon emissions. Foreign trade openness, however, affects carbon emissions both positively and negatively. Foreign trade openness encourages carbon emission in sectors of the economy with lower carbon emission intensity. However, it also partially constrains it for sectors with high carbon emission intensity. The number of employees, technological innovation, GDP per capita, and economic activity intensity significantly influence carbon emissions in India's industrial sector. This study can extend further in other countries using the recent innovative methodologies.Öğe COVID-19, lockdown measures and their impact on food and healthcare prices: empirical evidence using a dynamic ARDL model(Emerald Group Publishing Ltd, 2023) Chang, Bisharat Hussain; Gohar, Raheel; Derindag, Omer Faruk; Uche, EmmanuelPurpose This research examines the impact of lockdown stringency measures and COVID-19 cases on food and healthcare prices in six Brazil, Russia, India, China, South Africa and Turkey (BRICST) countries. This research is conducted in these countries since previous studies failed to examine the effect of COVID-19 reported cases on food and healthcare prices. Design/methodology/approach To achieve the objectives of this study, food and healthcare services were regressed against CVC and lockdown stringency measures using the dynamic autoregressive distributed lag (DARDL) model. For this purpose, we used daily data for BRICST countries such as Brazil, Russia, India, China, South Africa and Turkey. Findings The empirical evidence indicates that, in the long run, COVID-19 cases significantly and positively affect both food and healthcare prices in India, South Africa and China. In contrast, in the short run, COVID-19 positively affects food and healthcare prices in all countries except Russia and Turkey. Similarly, in the long run, the government stringency index (GSI) and Containment and Health Index (CHI) significantly affect health prices in India and South Africa. In contrast, GSI and CHI significantly affect healthcare prices in South Africa only in the short run. Finally, GSI and CHI significantly affect the food prices in the long run in India, South Africa and China and in the short run in South Africa only. Originality/value The widespread impact of the new Coronavirus (COVID-19) has made the world panic. COVID-19 affected all spheres of life, including food supplies and healthcare services. However, most of the empirical research failed to examine the impact of COVID-19 cases on food and healthcare prices which is the main focus of this study. Moreover, in the given context, the authors use a recently developed model that the previous studies failed to use.Öğe DOES US INFECTIOUS DISEASE EQUITY MARKET VOLATILITY INDEX PREDICT G7 STOCK RETURNS? EVIDENCE BEYOND SYMMETRY(World Scientific Publ Co Pte Ltd, 2023) Gohar, Raheel; Salman, Asma; Uche, Emmanuel; Derindag, Omer Faruk; Chang, Bisharat HussainDuring the COVID-19 pandemic, Baker et al. (2020) [The unprecedented stock market reaction to COVID-19. The Review of Asset Pricing Studies, 10, 742-758.] proposed the infectious disease equity market volatility (ID-EMV) index, which tracks US equity market volatility caused by infectious diseases. We extended the literature by using this newly developed ID-EMV index to examine its asymmetric effect on the share market returns of the G7 countries, which include the United Kingdom, Italy, Japan, Germany, France, Canada, and the United States of America. Moreover, we used novel techniques like the quantile-on-quantile regression test, quantile cointegration test, and quantile unit root test. The quantile cointegration test indicates that the infectious disease EMV index is cointegrated with G7 stock returns. Moreover, the quantile-on-quantile regression technique reveals that the infectious disease index positively affects stock returns during bullish states of the stock markets. In contrast, it negatively affects stock returns during bearish states of the stock market returns. The negative effect of the bearish states implies that investors may discourage investments during the downturns of the economy, whereas they need to boost their investments during economic booms.Öğe Effects of cross-border E-commerce customs declaration ceiling increase on export performance under COVID-19 conditions(Emerald Group Publishing Ltd, 2023) Aslan, Caglayan; Derindag, Omer Faruk; Parmaksiz, SalihPurposeThis study examines the impact of raising the ceiling value of Electronic Commerce Custom Declarations (ECCD) on Turkey's export performance processed via ECCD during the COVID-19 period.Design/methodology/approachThis paper examines the impact of the pandemic conditions on Cross-Border Electronic Commerce (ECCD) exports from Turkey to 47 countries over 42 months before and during the pandemic. An empirical analysis using the Pooled Mean Group (PMG) and Mean Group (MG), Panel Autoregressive Distributed Lag (ARDL) approach was conducted to identify the factors affecting export flows.FindingsThe findings suggest that raising the ceiling of the ECCD trade is a vital factor in increasing exports. and this result is robust after controlling for pandemic conditions. On the other hand, although the COVID-19 shock mitigates the export volume of ECCD in the short run, it changes by reversal and increases the export level in the long run. Additionally, the number of COVID-19 cases and deaths in Turkey have a significant and negative impact on export flows in the short run, while they have a positive and significant effect in the long run.Practical implicationsThe results of this study have practical implications for policymakers, emphasizing the potential and significance of Cross-Border E-Commerce (CBEC) trade.Originality/valueThe study is a pioneering effort in the literature of CBEC to explore how changes in the upper limit on customs declarations can affect export flows, taking into account the impact of the COVID-19 pandemic.Öğe Exchange Rate Effect on the Household Consumption in BRICST Countries: Evidence from MATNARDL Model(World Scientific Publ Co Pte Ltd, 2022) Derindag, Omer Faruk; Chang, Bisharat Hussain; Gohar, Raheel; Salman, AsmaVarious empirical methodologies have examined the relationship between exchange rate and household consumption expenditures. However, traditional methods fail to analyze the exchange rate effect on consumption across minor and major currency depreciation and appreciations. We attempt to extend the existing literature by examining the impact of minor and major currency appreciation and depreciation on household consumption expenditures in BRICST countries, including Brazil, Russia, India, China, South Africa and Turkey. We use an extended version of the nonlinear ARDL (NARDL) and multiple threshold nonlinear ARDL model called the multiple asymmetric ARDL (MATNARDL) model. Our estimates, based on the traditional NARDL model, indicate that the asymmetric effect is found in the context of India and China only. However, the MATNARDL estimates suggest that, in the long run, the asymmetric effect is found for all the sample countries except India whereas, in the short run, the asymmetric effect is found for all the sample countries except Turkey. Finally, this study recommends the policy implications based on the results obtained in this study.Öğe Exchange rate response to economic policy uncertainty: evidence beyond asymmetry(Springernature, 2022) Chang, Bisharat Hussain; Derindag, Omer Faruk; Hacievliyagil, Nuri; Canakci, MehmetRecent studies have examined the relationship between economic policy uncertainty and exchange rate. We contribute to this literature by considering the effect of minor positive and major positive changes as well as minor negative and major negative changes in the economic policy uncertainties on the exchange rates. In this regard, we use a recently developed multiple asymmetric threshold nonlinear ARDL model along with Granger causality in quantile test. Our estimates support the asymmetric effect in three countries only when an asymmetric ARDL model is used. However, these estimates support asymmetric effects for all the sample countries when the multiple asymmetric threshold nonlinear ARDL model is used. Moreover, the effect varies across various quantiles when Granger causality in quantile test is used. Overall, the extended model helps us to examine more minutely the impact of EPU and GEPU on the exchange rate in G7 countries. The results of this study can be useful for the central banks to devise appropriate policies to intervene in the foreign exchange market.Öğe Food prices response to global and national factors: Evidence beyond asymmetry(Taylor & Francis As, 2023) Derindag, Omer Faruk; Chang, Bisharat Hussain; Gohar, Raheel; Wong, Wing-Keung; Bhutto, Niaz AhmedThe current series of studies examine how local food prices are affected by domestic and international factors. This research advances the existing body of knowledge by examining this effect at different quantiles, frequencies, and times. We use research data from January 1999 to August 2022 using three local and six global variables as independent variables. Additionally, our study uses recent econometric methods, including Wavelet Coherence, Quantile-on-Quantile Regression (QQR), and Granger Causality in Quantiles (GCQ). Moreover, this research uses the Quantile Regression (QR) approach to determine how reliable the findings are. Based on the GCQ approach, the results demonstrate that the correlation persists at most of the quantiles. Moreover, the WC results demonstrate a substantial association between local prices of food and the independent factors across various frequencies and times. Additionally, QQR estimates demonstrate that the impact of exogenous variables on food prices vary among quantiles. These findings are also supported by the QR method. Last but not least, our study offers policy suggestions obtained based on the results of this study.Öğe Information and communication technologies in e-commerce and e-governance(Iop Publishing Ltd, 2019) Derindag, Omer Faruk; Canakci, Mehmet; Tsarev, RomanThe development of information and communication technologies has reached a level where their use in business and governance is becoming not only expedient but also inevitable. The Internet and ICT have created the technical and technological foundation that can significantly improve the efficiency of public administration, provide businesses and citizens with access to necessary information, simplify bureaucratic procedures and reduce the time for decision making The paper describes the new conditions in which the business is developing. The article presents the features of the interaction of e-government and business, the impact of e-government on the development of the economy as a whole. The authors analyzed the process of development of technologies for e-governance and e-commerce. The authors identified the tasks that are solved by means of e-government. Also, the authors set up indicators for evaluating the effectiveness of the e-governance. The implementation of the e-government demonstrates advantages for the further development of the economic sector and the whole state in general.Öğe The Leader-Member Exchange (LMX) Influence at Organizations: The Moderating Role of Person-Organization (P-O) Fit(St Johns Univ Business Research Inst, 2021) Derindag, Omer Faruk; Demirtas, Ozgur; Bayram, AliMotivation: In recent years, leader-member exchange (LMX) has become a widely utilized concept in business management and leadership literature. Additionally, business professionals and practitioners have been adopting this idea in their day-to-day management practices to ensure the effective performance of their teams. Premise: This study investigates the influence of LMX on burnout, turnover intention, and organizational citizenship behaviors (OCB). In addition, we examined the moderating role of person-organization fit on these LMX influences. Approach: To address the moderating role of person-organization (P-O) fit on the relationships between the leader-member exchange (LMX) and burnout, LMX and turnover intention, and LMX and organizational citizenship behavior (OCB), a survey was conducted in Kayseri, Turkey's manufacturing region. The sample consists of 903 employees who have direct relationships with their leaders. Frequency analysis, reliability analysis, confirmatory factor analysis, and hierarchical regression analysis were employed in the interpretation of the data obtained. Results: The results of the study reveal that leader-member interaction has a negative effect on burnout and intention to quit and has a positive effect on organizational citizenship behavior. In addition, person-organizational fit was found to have a moderating role in these relations. Conclusion: The studies on LMX theory revealed that leaders have the propensity to trust their followers who displayed enthusiasm, and leaders pay less attention to other team members. The LMX theory kept evolving into a new structure concentrating more on the leader-team member relationship. Therefore, leader-member interaction influences burnout, turnover intention, empowerment, employee performance, and organizational behavior. Consistency: Regardless of the type of industry, the quality of the relationship and interaction between managers and employees is directly reflected in work outcomes. In this context, especially in risk management and in times of uncertainty, it is vital that the entire team can act in a coordinated and consistent manner. In professional life, stakeholders can adopt LMX as an effective tool for alleviating burnout and turnover intention and increasing OCB in their organizations.Öğe Nexus between Consumption, Income, and Price Changes: Asymmetric Evidence from NARDL Model(Syarif Syarif Hidayatullah State Univ Jakarta, 2022) Gohar, Raheel; Chang, Bisharat Hussain; Derindag, Omer Faruk; Abro, ZahidaPrevious research has primarily examined the link between price, income, and consumer spending using linear regression models. On the other hand, the latest evidence shows an asymmetric link among economic and financial variables. We contribute to the literature by employing a novel technique known as the asymmetric ARDL model. This approach is used to investigate the impact of favorable and unfavorable changes in income and prices on household consumption. The results show that higher income has a substantial and beneficial effect on household expenditures in the short term and long term. On the other hand, a fall in income has no impact on consumer spending. Moreover, for most developing countries, price adjustments have a negligible effect on consumer expenditures. Our findings suggest that implementing the same policy initiatives across periods of rising and falling income and prices may result in potential losses.Öğe Which renewable energy consumption is more efficient by fuzzy EDAS method based on PESTLE dimensions?(Springer Heidelberg, 2021) Demirtas, Ozgur; Derindag, Omer Faruk; Zarali, Fulya; Ocal, Oguz; Aslan, AlperThe facilities that energy delivers to social life and economic activities render it indispensable. Hence, it is equally critical that the energy cycle must have a sustainable structure. Therefore, it is an indisputable fact that developing and performing correct and consistent energy policies is vitally necessary. Energy consumption planning includes a continuous process to reassess existing and potential alternative energy approaches and strategies. The public and private decision-makers in charge of planning and managing energy consumption policies must adapt their strategies to novel and superior alternative resources according to sustainability and efficiency criteria. In this paper, the fuzzy EDAS method is used to address the best renewable energy consumption by taking political, economic, social, technological, legal, and environmental (PESTLE) dimensions into account. The analysis of the paper indicates the most efficient renewable energy consumption is sourced by geothermal, solar, wind, hydroelectricity, and biomass, respectively. By further investigation, it is concluded that the most optimum renewable energy consumption alternatives based on PESTLE dimensions are geothermal and solar energies.
