Business & Management Studies: An International Journal
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The influence of psychological determinants on intention to invest in crypto assets: The moderating role of demographics
The study aims to explore how investment intention is shaped by examining the perceived risk toward crypto assets through psychological factors that have not been sufficiently addressed in the literature. The study investigates self-efficacy, financial FOMO, future anxiety, trust in crypto assets, and trust in crypto asset platforms as psychological determinants of perceived risk. Additionally, it seeks to identify the moderating role of key demographic characteristics. Two hundred eighty-seven valid data points from an Istanbul-based sample were included in the Structural Equation Modelling, and indirect and moderating effect analyses were conducted using the PROCESS Macro. The findings indicate that self-efficacy and trust in crypto assets unfavourably affect perceived risk, whereas future anxiety increases it. However, financial FOMO and trust in crypto asset platforms did not significantly affect perceived risk. Furthermore, perceived risk negatively influenced investment intention in crypto assets. While the moderating effect of gender was not found, the moderating role of marital status was identified in the relationship between future anxiety and perceived risk. Based on the research findings, theoretical implications were discussed, and insights were provided for actors in the crypto asset market to develop trust-enhancing strategies.
Crypto Assets, Consumer Behaviour, Perceived Risk, Consumer Trust, Digital Marketing, Financial FOMO, Self-Efficacy
Copyright (c) 2025 Mahmut Selami Akın- Sevi Baloğlu Sevinç http://creativecommons.org/licenses/by-nc-nd/4.0
Evaluation of the Turkish real estate sector in terms of sustainability: A PESTLE analysis
Within the scope of the research, the Turkish real estate sector is evaluated for sustainability using PESTLE and SWOT analyses, taking into account political, economic, social, technological, legal, and environmental factors. The study, conducted using a qualitative research approach, used data from legislative documents, development plans, official institutional reports, publications of international organisations, and academic literature. The findings reveal that social housing policies, urban transformation regulations, and disaster resilience strategies are politically decisive. In the economic dimension, the most significant challenges facing the sector are high volatility, interest rate fluctuations, housing affordability issues, and deficiencies in the mortgage financing system. On the social front, labour rights and informal employment remain areas where further progress is needed. In terms of technological and legal factors, digitalisation, e-government applications, and green certification systems contribute positively to the sector; however, weaknesses in implementation and enforcement persist. From an environmental perspective, although there has been progress in green building standards, energy efficiency, and the use of environmentally friendly materials, further improvement is needed to reduce carbon footprints and improve resource efficiency. In conclusion, building a sustainable real estate sector requires comprehensive reforms and the promotion of interdisciplinary collaboration. The research highlights these multi-layered problem areas, providing policymakers with a guiding framework for sectoral transformation and long-term strategic planning.
Sustainability, Real Estate Sector, PESTLE, SWOT
Copyright (c) 2025 Gülnaz Şengül Güneş- Kürşat Yalçiner http://creativecommons.org/licenses/by-nc-nd/4.0
Consumer confusion in the academic literature: A bibliometric analysis for the period 1966–2024
The globalised market structure and increasing information overload have created significant consumer confusion in today's context. When faced with a multitude of options and information, consumers may experience confusion during the decision-making process. This situation can be triggered by factors such as brand and product similarities, excessive choice, and ambiguous or contradictory information. The emotional and behavioural consequences of confusion can influence consumer decisions, presenting both challenges and opportunities for brands. This study aims to examine the development of the concept of consumer confusion in the literature, explore its relationship with various factors, and identify gaps in the existing body of research. Using bibliometric methods, the study examines the scope of academic work on consumer confusion by analysing authorship, publications, and citation counts. This study is based on publications indexed in the Web of Science and Scopus databases, and the analysis was conducted on 323 publications using a bibliometric and cluster-based systematic review approach. The literature review identifies key studies that explain the different dimensions of consumer confusion and its impact on consumer behaviour. Furthermore, by discussing research trends and future research opportunities in this field, the study provides a deeper analysis of the influence of confusion on purchasing decisions.
Consumer Confusion, Marketing, Bibliometric Analysis
Copyright (c) 2025 Özge Seskir Güvendik http://creativecommons.org/licenses/by-nc-nd/4.0
Leadership in the age of artificial intelligence
Guiding others and creating one's own representation have been enduring desires of humanity since its inception. With the establishment of the field of artificial intelligence (AI) in 1956, humankind moved one step closer to realising this aspiration. Today, AI demonstrates superiority over humans in narrow domains; however, is humanity ready to delegate the uniquely human ability to lead others to AI? This question remains a significant and ongoing debate in the literature. This study examines the transformation of leadership in the AI era in light of this question. The literature review revealed two main themes: AI-supported leadership and AI leadership. AI-supported leadership reflects the widely accepted leadership model in the literature. It is explored under two subdimensions: AI's contributions to leadership roles and the skills and responsibilities of human leaders in the AI era. In contrast, AI leadership, which currently has limited support in the literature, is discussed within the framework of ongoing debates. This study is significant because it examines AI-supported leadership across multiple dimensions and presents current discussions on AI leadership.
Artificial Intelligence, Leadership, AI-Supported Leadership, AI Leadership
Copyright (c) 2025 Aslıhan Ünal http://creativecommons.org/licenses/by-nc-nd/4.0
Marketing and financing problems of hotel businesses: An application to Ayvalık hotels
The purpose of this study is to identify the marketing and financial challenges and problems faced by hotel businesses operating in the Ayvalık district of Balıkesir. The research is descriptive and uses quantitative data collection methods. The research population consists of hotel businesses with tourism operation licenses operating in the Ayvalık district. A survey was administered to 30 hotel managers who agreed to participate in the study, selected through a non-random, purposive sampling method. Based on survey data, it was determined that hotel businesses face marketing challenges in promotion and information, customer satisfaction, and digital marketing. Furthermore, it was determined that hotel businesses face financial challenges, including high interest rates, excessive collateral requirements, short-term financing, cash flow problems, labour costs, rising prices for goods and services, and high credit card fees. Recommendations are presented for hotel managers and researchers in the region based on the research findings.
Marketing Problems, Financing Problems, Hotel Businesses, Accommodation Businesses, Ayvalık
Copyright (c) 2025 Elif Bezirgan- Yakup Dinç http://creativecommons.org/licenses/by-nc-nd/4.0
The mediating role of innovative behaviour in the effect of sustainable leadership on career satisfaction
Sustainable leadership transforms business models that promote sustainable development while supporting employee career development. In this context, the limited number of findings on which concepts influence the effect of sustainable leadership on employee career satisfaction emerges as an important research topic. The purpose of this study is to determine the mediating role of innovative behaviour in the relationship between sustainable leadership and career satisfaction. Data from 310 employees working in industrial enterprises, collected via convenience sampling, were analysed using structural equation modelling with the SmartPLS program. The findings reveal that sustainable leadership has a significant and positive effect on employees' career satisfaction, and that innovative behaviour partially mediates this effect. By comprehensively testing the relationship between sustainable leadership, creative behaviour, and career satisfaction using a mediation model, this study fills a gap in the literature and contributes to the field. This relationship model was evaluated using “Social Cognitive Career Theory” and “Social Cognitive Theory.” Social cognitive theory consists of environmental and self-efficacy.
Innovative Behaviour, Career Satisfaction, Leadership, Sustainable Leadership
Copyright (c) 2025 Engin Karafakıoğlu- Esra Aydın Göktepe http://creativecommons.org/licenses/by-nc-nd/4.0
Integrating the Results-Only Work Environment (ROWE) model into contemporary human resource management: A comparative and strategic perspective
With rapid technological developments in the workplace bringing the service sector to the forefront, the need for a knowledge-based workforce has increased. This situation has created a demand for more specialised personnel and heightened the need for knowledge workers. In this context, the ROWE model is considered a potential solution for meeting the employment needs of knowledge workers. This study aims to comprehensively examine the Results-Only Work Environment (ROWE) model by identifying its core characteristics, its relationship with human resource management (HRM) practices, and its similarities and differences with other HRM models. The study also analyses ROWE’s interaction with performance management and competency-based human resource management (CBHRM) approaches, assessing its contributions and modes of integration within the context of strategic human resource management (SHRM). The research was conducted through a comprehensive, systematic document analysis informed by a descriptive literature review. The findings indicate that ROWE has strategic significance in HRM. In this respect, the study fills an important gap in the literature by providing a holistic framework that explains how ROWE transforms organisational structures, competency-based practices, and performance-oriented processes.
ROWE Working Model, Competency-Based Human Resources Management Perspective (CBHRM), Performance Management, Strategic Human Resources Management (SHRM)
Copyright (c) 2025 Recep Caner Erselcan http://creativecommons.org/licenses/by-nc-nd/4.0
The impact of green growth, governance, and green technology innovation on sustainable development goals in OECD countries: A CS-ARDL analysis
Creating a globally sustainable structure goes beyond economic indicators and necessitates the effective use of the green concept. In this context, analysing the green transformation performance of OECD countries, encompassing both developed and developing nations, and revealing their current status, is critical. This study aims to determine the impact of green growth, governance, and green technology innovation on sustainable development goals in OECD countries, in environmental and social contexts. Using the CS-ARDL method, this study, while accounting for the analysis's assumptions, performed cross-sectional dependence tests, followed by unit root tests, heterogeneity analysis, and cointegration tests. The analysis results, which satisfied the necessary conditions for the CS-ARDL method, yielded short- and long-term results for the selected models. Examination of the results reveals that, in the environmental dimension of sustainability, green growth reduces carbon emissions in the short term but has no significant long-term effect. Furthermore, it was found that green technology increases carbon emissions in the short term. When the social dimension of sustainability is examined, it is observed that economic growth positively affects the total workforce employed in a given year in both the short- and long-term. In contrast, other variables do not have a statistically significant effect, as the analysis reveals. No studies within the OECD that simultaneously use the variables included in this study have been found in the literature. In this context, this study, conducted using the CS-ARDL method, is expected to make significant contributions to the literature.
Sustainability, Green Growth, Governance, Green Technology, Panel Data Analysis
Copyright (c) 2025 Okan Kekül http://creativecommons.org/licenses/by-nc-nd/4.0
Seeking balance: Examining the effect of job stress on job satisfaction among bank employees
Stress arises from internal and external factors that negatively affect an individual's mental and physical well-being. Job stress, in particular, can disrupt employees' emotional and psychological balance due to pressures and demands encountered in the workplace. Job satisfaction, on the other hand, refers to the degree of contentment employees derive from their jobs and work environments. The literature emphasises that high job satisfaction enhances employee commitment, motivation, and overall well-being, whereas low job satisfaction is associated with turnover intention, reduced performance, and increased stress. The banking sector is recognised as a field in which stress factors—such as heavy workloads, long working hours, and intensive customer relations—are particularly prevalent. Therefore, examining the interaction between job stress and job satisfaction among bank employees is crucial for developing improvements at both the individual and organisational levels. In this study, quantitative methods were employed to analyse survey data collected from 253 bank employees working in Elazığ, Türkiye. The findings reveal a significant and negative relationship between employees' stress levels and job satisfaction. Moreover, regression analysis indicated that stress is a significant predictor of job satisfaction. The results demonstrate that as bank employees' stress levels increase, their job satisfaction decreases. Accordingly, it is recommended that the banking sector develop stress-management programs and implement organisational practices to enhance job satisfaction.
Stress, Job Satisfaction, Banking Sector
Copyright (c) 2025 Emirhan Yetiş http://creativecommons.org/licenses/by-nc-nd/4.0
Macroeconomic influences on ETF prices: Evidence from iShares MSCI Türkiye
Exchange-traded funds (ETFs) are among the most widely used financial instruments for accessing financial markets today. This study investigates the influence of key macro-financial indicators—namely the BIST100 index, exchange rate, interest rate, foreign direct investment inflows, Türkiye's CDS premiums, and the VIX—on the price dynamics of the iShares MSCI Türkiye. The analysis employs quarterly data spanning 2013–2024 and uses the ARDL methodology. The results indicate a cointegration relationship between the variables. In the long run, the iShares MSCI Türkiye exhibits a statistically significant positive association with the BIST100 index, whereas it demonstrates a statistically significant negative association with the exchange rate. It is determined that shocks to iShares MSCI Türkiye prices are effective in the short term and that at least 95% of them spill over to the next period. Still, these shocks are offset in the following period and lead to convergence. Based on the Granger causality analysis, the exchange rate and foreign direct investment inflows are the Granger causes of the iShares MSCI Türkiye. Therefore, BIST100, exchange rates, and foreign direct investment inflows are important for iShares MSCI Türkiye investors and fund managers in determining their investment strategies.
Exchange Traded Funds (ETFs), Exchange Rate, Foreign Direct Investments (FDI), Stock Exchange
Copyright (c) 2025 Umut Kemeç- Veysel Kula- Ender Baykut http://creativecommons.org/licenses/by-nc-nd/4.0
Dynamic links between ADRs and home country macroeconomic indicators: Empirical evidence from Turkey
In the U.S. stock market, 17 Turkish companies have their shares dual-listed through American Depositary Receipts (ADRs). The return and dividend performance of these shares is measured by the BNY Mellon Turkey Classic ADR index (BKCTRT). For investors who prefer ADRs for portfolio diversification, the effects of the home country's fundamental economic indicators on the ADR market are a significant issue. This study investigates the impact of changes in Turkey's inflation, real exchange rate, interest rates, and CDS indicators on the BKCTRT index in the U.S. market, as well as the dynamic relationships among them. The Autoregressive Distributed Lag (ARDL) approach was used to analyse relationships among multiple variables. The statistical consistency of the ARDL model was tested for model assumptions, significance, and stability. The ARDL cointegration analysis confirms the long-term cointegration between the variables. In the long term, changes in inflation and the real exchange rate in Turkey have a statistically positive effect on the BKCTR index, while CDS has an adverse effect. The long-term impact of the interest rate variable is statistically insignificant. In the short term, the CDS variable has a statistically significant impact on the BKCTRT index up to two lags. The short-term error term coefficient (ECM) is negative, and the shock effect in the current period is corrected by 18% in the next period. According to the results, changes in Turkey's basic economic indicators affect the U.S. market. Based on the results obtained, investors are advised to consider changes and expectations in Turkey's CDS, real exchange rate, and inflation when making decisions regarding the inclusion or exclusion of Turkey ADRs in their portfolios in the U.S. stock market, as well as when making buy/sell decisions for Turkey Classic (BKCTRT) index options in derivative markets.
American Depository Receipts (ADR), Dual Registration, ARDL Model
Copyright (c) 2025 Murat Topcu http://creativecommons.org/licenses/by-nc-nd/4.0
The relationship between going concern and auditor opinion: An empirical study on manufacturing firms listed on Borsa Istanbul
This study examines the relationship between going concern and independent audit opinions. The research utilises data from companies operating in the manufacturing sector listed on Borsa Istanbul between 2018 and 2022. The going concern status of companies is measured using financial indicators such as the Altman Z-score, Ohlson score, Zmijewski score, and leverage ratio. The relationship between these indicators and the audit opinion is analysed using Logistic Regression. The findings indicate that as indicators of financial distress increase, auditors are more likely to issue a qualified opinion, an adverse opinion, or a disclaimer of opinion. Additionally, an Instrumental Variable model is applied to address potential endogeneity concerns, and the results are consistent with the main findings. Supplementary analyses based on audit firm size indicate that smaller audit firms tend to consider going-concern risk a more decisive factor. In contrast, larger audit firms may take other risk factors into account.
Going Concern, Audit Opinions, Financial Risks, Logistic Regression, IV-Probit Model
Copyright (c) 2025 Günay Baba- Murat Ocak- Gülümser Ünkaya http://creativecommons.org/licenses/by-nc-nd/4.0
A reconciliation index for delayed household debt in imperfect competition markets
This study examines how the delays in household debt relationships can be managed in terms of social and economic justice. To achieve this goal, a new measurement tool, the "Reconciliation Index," has been developed. The content of the index was created based on the opinions of 26 experts and includes the following internal factors: (Consumer Price Index, Deflator, Minimum Wage Increase, Housing Price Index) and External Factors: (Price of Gold (per gram), Real Effective Exchange Rate, Oil Prices). Thus, the index provides a normative framework aimed at ethical consensus and a fair balance between the parties. The Reconciliation Index is based not only on economic indicators but also on social policy principles, including social consensus, consumer rights, and fairness in income distribution. In this respect, the study offers a new approach that considers the ethical, moral, and social dimensions of debt relations, contributing to the strengthening of social integration and economic security. The Reconciliation Index's adaptability to different countries' conditions enables the study to be pioneering in this respect.
Imperfect Competition, Justice, Reconciliation Index
Copyright (c) 2025 Durmuş Baysal- Nazif Çalış- Enes Eminoğlu http://creativecommons.org/licenses/by-nc-nd/4.0
The impact of workplace violence against healthcare workers on organisational commitment and job satisfaction
This study examined differences in organisational commitment and job satisfaction among emergency department healthcare workers in Kars Province, Turkey, according to their exposure to workplace violence. Using a quantitative, cross-sectional design, data were collected from 127 healthcare professionals in Kars Province between July 2024 and February 2025 through a demographic questionnaire, the Meyer & Allen (1991) Organisational Commitment Scale, and the short form of the Brayfield & Rothe (1951) Job Satisfaction Scale. Findings show that 54.3% of participants experienced workplace violence, predominantly verbal and often perpetrated by patients' relatives. Exposure to violence significantly reduced organisational commitment (p = .047) and job satisfaction (p = .044). A positive relationship was identified between job satisfaction & organisational commitment (r = .367, p < .01), with normative commitment displaying the strongest link. The results highlight the need for targeted violence prevention strategies, training for less experienced staff, and institutional support systems to protect healthcare workers' well-being and enhance workplace outcomes.
Workplace Violence, Job Satisfaction, Organisational Commitment
Copyright (c) 2025 Enes Kaya http://creativecommons.org/licenses/by-nc-nd/4.0
The moderating role of managerial and coworker support in the relationship between internal crisis communication and perceived uncertainty
The purpose of this study is to explore the moderating role of supervisor support and coworker support in the relationship between internal crisis communication and perceived uncertainty. A survey, as a quantitative data collection technique, was administered to 256 academic and administrative staff working at universities operating in earthquake regions. The research hypotheses derived from the relevant literature were tested using survey responses. Descriptive statistics, Pearson correlation, regression, and analyses of moderator variable effects were conducted using SPSS 25. The findings indicate that internal crisis communication significantly affects perceived uncertainty and that supervisor support moderates this relationship. Accordingly, both internal crisis communication and supervisor support play significant roles in reducing perceived uncertainty during crisis periods. Furthermore, it was determined that coworker support did not moderate this relationship.
Internal Crisis Communication, Perceived Uncertainty, Manager Support, Colleague Support
Copyright (c) 2025 Sefa Usta- Emine Yılmaz Atik http://creativecommons.org/licenses/by-nc-nd/4.0
The impact of physical capital, industry value added and foreign direct investment on economic growth: Evidence from EU countries
This study examines the relationships among economic growth, physical capital, industry value added, foreign direct investment, and the labour force in a panel of European Union (EU) countries over the period 1995-2024, using panel data analysis. First, a cross-sectional dependence test was applied across the series, revealing a strong interdependence structure across countries. Unit root tests were then conducted, and the Panel ARDL method was deemed appropriate based on the series' stationarity. However, due to the strong cross-sectional dependence and heterogeneity identified in the panel, it was ultimately decided to use the CS-ARDL model to obtain more reliable results. The findings indicate that the industry value-added variable has an adverse, statistically significant effect on economic growth in the short-term analysis. In contrast, the short-term effects of the other variables are not significant. The long-term analysis results indicate that industry value added and physical capital variables positively affect economic growth. In contrast, the long-term coefficients for the foreign direct investment and labour force variables were not statistically significant. Overall, these results indicate that physical capital and value-added creation in industrial production are the primary determinants of economic growth sustainability in a sample of EU countries. However, the failure of foreign direct investment and labour supply to make a significant long-term contribution to growth suggests a need to revise structural policies in these areas.
Economic Growth, Physical Capital, Industry Value Added, Foreign Direct Investment, Labour Force, CS-ARDL Model
Copyright (c) 2025 Mücahit Ülger http://creativecommons.org/licenses/by-nc-nd/4.0
The mediating role of organisational learning in the relationship between digital leadership and organisational performance
Many countries and businesses are undergoing digital transformation, though the pace varies. Managing this transformation on a solid foundation and adapting to the process are important for ensuring sustainability. With digitalisation, leadership qualities are changing, and traditional characteristics are being replaced by a leadership style that promotes and utilises digital products and applications. Adapting and supporting leaders are critical to integrating digital transformation into production and service processes. One area influenced by this role of digital leadership is organisational performance. Organisational performance refers to the degree to which predetermined goals are achieved. Organisational learning, on the other hand, refers to the acquisition of new methods and knowledge. The purpose of this study is to determine whether organisational learning mediates the effect of digital leadership on organisational performance. In this study, an online questionnaire was administered to 192 employees. SPSS 24 and AMOS 25 were used to analyse the data obtained from the research. Basic frequency and normality tests, confirmatory factor analysis, Cronbach's Alpha reliability, correlation, effect, and mediation analyses were conducted. The analyses found that digital leadership has a positive impact on organisational learning and performance. That organisational learning also positively affects organisational performance. It was also found that organisational learning serves as a mediating factor in the effect of digital leadership on organisational performance.
Digital Leadership, Organisational Learning, Organisational Performance
Copyright (c) 2025 Ramazan Vedat Sönmez- Cahit Çağlın- İsa Sezer http://creativecommons.org/licenses/by-nc-nd/4.0
The relationship between customer experience and customer satisfaction, recommendation behaviour, and revisit intention in accommodation businesses: The case of Istanbul
This study explores the relationships among customer experience perceptions, customer satisfaction, revisit intention, and recommendation behaviour in accommodation businesses operating in Istanbul. It also examines whether perceptions of customer experience vary significantly across demographic characteristics. The research employed a quantitative approach, and data were collected via a structured questionnaire from 605 participants. The analyses were conducted using regression analysis, t-tests, and one-way ANOVA. The results reveal a strong, statistically significant positive relationship between customer experience and customer satisfaction, with high explanatory power. Similarly, customer experience was found to be a key predictor of both revisit intention and recommendation behaviour. These findings indicate that customer experience plays a critical role in shaping both emotional and behavioural outcomes. Moreover, the study identifies significant differences in experience perceptions across demographic groups. Generation Z participants reported more positive experiences than participants in other age groups. Male respondents also had a more favourable perception than female respondents. The highest experience scores were observed among participants with a high school education or lower, while the lowest were found in the associate degree group. In terms of income, those who described their financial situation as "poor" reported lower experience perceptions, whereas those in the "very poor" category surprisingly reported higher scores. In conclusion, the findings highlight the strategic importance of customer experience in the hospitality industry. Beyond increasing satisfaction, customer experience also drives loyalty and positive word-of-mouth. In Istanbul's accommodation sector, these results suggest that a well-designed customer experience strategy can significantly influence customer behaviour and strengthen a competitive position.
Customer Experience, Customer Satisfaction, Revisit Intention, Recommendation Behaviour, Accommodation Businesses
Copyright (c) 2025 Cihan Yılmaz http://creativecommons.org/licenses/by-nc-nd/4.0
Financial performance analysis in the Turkish banking sector: A TOPSIS-based review on public and private deposit banks (2018-2023)
The study aims to compare the financial performance of public and private capital deposit banks in Turkey (three public and eight private) between 2018 and 2023. In this context, the TOPSIS (Technique for Order Preference by Similarity to Ideal Solution) method was applied among the MCDM techniques. In the analysis, 11 financial ratios were used to evaluate the banks' financial performance. These ratios take into account indicators that directly affect basic financial performance, such as capital adequacy, profitability, liquidity, efficiency, and asset quality. The findings revealed periodic performance differences between public and private banks, and that certain macroeconomic developments in the sector affect bank performance. Analyses using the TOPSIS method have shown that it is a highly effective tool for understanding not only banks' current situation over the past year but also their long-term performance trends. This analysis method provides a multidimensional evaluation of financial performance, especially for investors, regulatory authorities, and strategic decision-makers. The results for the 2018–2023 period clearly show that competition in the sector continues, but institutions with strong financial discipline and strategic management achieve more sustainable success.
Deposit Banks, Financial Performance, TOPSIS
Copyright (c) 2025 Minire Kırbaşlı http://creativecommons.org/licenses/by-nc-nd/4.0
Entrepreneurship education in undergraduate business programs: A review of curricular integration and institutional priorities
This study aims to examine the status of entrepreneurship courses within undergraduate business programs in Türkiye and assess their alignment with institutional vision and mission statements at the higher education level. The research focuses on 45 universities listed in the Entrepreneurial and Innovative University Index (EIUI) and employs a mixed-methods approach. Entrepreneurship-related courses are analysed quantitatively in terms of number, status (compulsory/elective), and distribution, while institutional statements are examined through thematic content analysis. The findings reveal that, despite entrepreneurship being frequently emphasised in institutional discourse, it is reflected only to a limited extent in undergraduate program curricula. Of the 296 identified entrepreneurship-themed courses, only 42 (14.19%) are compulsory; the vast majority (85.81%) are offered as electives. The average number of mandatory classes per university is 0.93, and the average number of elective courses is 5.64. Entrepreneurship-themed courses account for only 5.27% of the total curricula, representing 2% of compulsory and 7.23% of elective offerings. The analyses reveal significant structural variations among institutions in the number, types, and statuses of courses offered. As one of the first comprehensive data-driven studies on entrepreneurship education in Türkiye, this research makes a unique contribution to the field by questioning the coherence between strategic discourse and educational practice in entrepreneurship education.
Entrepreneurship Education, Curriculum Analysis, Business Program, Higher Education, Entrepreneurial University
Copyright (c) 2025 Meral Dülger Taşkın http://creativecommons.org/licenses/by-nc-nd/4.0
Macroeconomic determinants of Türkiye's participation index: A VECM and SVAR analysis
This study examines the sensitivity of Türkiye's Participation Index (XK100) to key macroeconomic and financial indicators. Using daily data from November 2021 to November 2024, Johansen cointegration, Vector Error Correction Model (VECM), Granger causality, and Structural VAR (SVAR) analyses are employed. The results indicate that the Participation Index is positively associated with the BIST 100 index, gold prices, and the profit-sharing rates of participation banks. In contrast, it is negatively associated with interest rates and the global risk indicator (VIX). No long-run relationship is found between the exchange rate and the CDS premium. SVAR findings show that the index is particularly sensitive to shocks in interest rates and global uncertainty, yet it maintains a strong long-run cointegration with the conventional index. Overall, the results suggest that Islamic financial markets in Türkiye are not entirely decoupled from traditional markets and remain influenced by similar macro-financial risk factors, offering valuable implications for investors and policymakers.
Participation Index, Cointegration Test, Structural VAR (SVAR) Analysis
Copyright (c) 2025 Fazlı Irmak http://creativecommons.org/licenses/by-nc-nd/4.0
Managerial empathy deficit: Effects on female presenteeism and balance
This study aims to investigate the impact of managerial empathy deficiency on female employees' work-life balance and presenteeism, defined as being physically present at work but unable to perform effectively. In today's professional environment, female employees often face increased pressure due to insufficient managerial support while balancing work and family responsibilities. This pressure can exacerbate presenteeism. The research adopts a quantitative methodology, with data collected via a structured questionnaire administered to 357 female employees. The data were analysed using SPSS 25, employing descriptive statistics, correlation, and regression analyses. The findings indicate a significant negative relationship between managers' empathy levels and employees' work-life balance, and reveal that a lack of managerial empathy increases the tendency toward presenteeism. These results suggest that female employees are negatively affected both psychologically and in terms of performance when exposed to low levels of managerial empathy. Accordingly, this study contributes to the literature by highlighting the importance of empathetic leadership practices and advocating for the development of supportive work-life balance policies tailored to the needs of female employees.
Lack of Empathy in Managers, Female Employees, Work-Life Balance, Presenteeism
Copyright (c) 2025 Bedirhan Elden http://creativecommons.org/licenses/by-nc-nd/4.0
Analysing the macroeconomic determinants of inflation under the explicit inflation targeting regime as a nominal anchor: A machine learning approach
To reduce inflation to a low, sustainable level, a clear target must be set within the framework of monetary policy. In this targeting process, a macroeconomic variable assumed to have a direct impact on inflation dynamics is selected and serves as a "nominal anchor," the reference point for monetary policy. The most common nominal anchors for achieving economic stability are the exchange rate anchor, monetary policy-based nominal anchors, and inflation-targeting regimes. Within the framework of its monetary policy strategy, Turkey implemented an implicit inflation-targeting regime during 2002–2005. The year 2005 was designated as a transition period toward the adoption of an explicit inflation targeting regime. During this process, the Central Bank of the Republic of Turkey (CBRT) emphasised the principles of independence, transparency, and accountability in its strategic plan. At the same time, price stability was formally established as the primary objective of monetary policy through legal amendments. As of January 1, 2006, Turkey officially adopted an explicit inflation-targeting framework. This study aims to identify the key macroeconomic indicators influencing Turkey's explicit inflation-targeting regime by employing a machine-learning–based empirical approach using data from 2006 to 2024. The analytical framework integrates multiple macroeconomic variables to evaluate their relative contributions to inflation dynamics under the nominal anchor perspective. The findings reveal that the combined use of the Consumer Price Index (CPI), real effective exchange rate (REER) indicators for both advanced and emerging economies, and the M2 money supply provides a practical and consistent predictive structure. In particular, the combination of REER indicators and the M2 aggregate captures inflation and CPI dynamics with high predictive power, underscoring their critical role in understanding the operational effectiveness of the explicit inflation-targeting framework in Turkey.
Inflation Targeting, Nominal Anchor, Monetary Targeting, Exchange Rate Targeting, Machine Learning-Based Analysis
Copyright (c) 2025 Nuran Çakır Yıldız- Muzaffer Göztaş http://creativecommons.org/licenses/by-nc-nd/4.0
The impact of the European Union's carbon border adjustment mechanism on the financial size of Türkiye's banking sector: A statistical assessment
The European Union has introduced the Carbon Border Adjustment Mechanism (CBAM) to combat climate change. The main goal of CBAM is to compare the carbon footprint of exported products with the carbon emissions that would happen if the same products were made in the EU, and then price the difference to balance out the carbon. This mechanism aims to price carbon emissions from the production of carbon-intensive goods exported to the EU and to promote cleaner industrial production in non-EU countries. For countries like Türkiye that maintain strong trade relations with the EU, this policy increases production and financing costs, thereby directly affecting the banking sector. In this study, the relationships between the profitability elements of the banking sector between 2005 and 2024 and changes in EU carbon certificate prices, as well as between sector profitability and selected ratios during the same period, were statistically analysed. As a result, a strong positive relationship was observed between increases in carbon prices and bank loans.
CBAM, Carbon Border Adjustment Mechanism, Carbon Emissions, Sustainability, Banking
Copyright (c) 2025 Teoman Tağtekin- Hasan Amanet http://creativecommons.org/licenses/by-nc-nd/4.0
Commercial relations and economic efficiency analysis between the Ottoman Empire and the Wallachian Principality
The Principality of Wallachia existed officially from 1310 to 1861, during which it held various political statuses. This study examines the commercial relations between the Ottoman Empire and the Principality of Wallachia from the 14th to the 19th centuries. In particular, it focuses on the shipment of goods such as grain, timber, honey, and beeswax, evaluating their role within the broader framework of economic relations. The strategic importance of Wallachia and its impact on the Ottoman fiscal system are also discussed. Ottoman archival sources, mainly 16th-century imperial registers and berats (imperial decrees), provide detailed insights into the economic dimension of these relations. These documents contain information on the quantities, prices, and taxes of goods imported from Wallachia. Furthermore, the official correspondence of Wallachian envoys and merchants played a crucial role in regulating and monitoring commercial relations. Trade with the Principality of Wallachia was highly valuable to the Ottoman Empire, particularly for strategic commodities, and the principality's proximity to major campaign routes made it indispensable to the empire's logistical and economic network.
Ottoman Empire, Wallachia Voivodeship, Foreign Trade, Productivity Analysis
Copyright (c) 2025 Ali Birvural http://creativecommons.org/licenses/by-nc-nd/4.0
Examining the relationships between workload, motivation, quality of work-life, and employee satisfaction: An application for academics at Ağrı İbrahim Çeçen University
The purpose of this study is to determine the effect of academic staff at Ağrı İbrahim Çeçen University's perceptions of their workload on their satisfaction, and to identify the mediating roles of motivation and quality of work-life in this effect. Data were collected from 394 academic staff members using a survey method and analysed using AMOS 22. As a result of the analyses conducted to determine direct relationships; the effect of workload on employee satisfaction was insignificant, the effect of workload on motivation was significant and negative, the impact of motivation on employee satisfaction was substantial and positive, the effect of workload on work-life quality was significant and negative, the impact of work-life quality on employee satisfaction was substantial and positive, and the effect of motivation on work-life quality was significant and positive. Mediation analyses revealed that motivation partially mediates the relationship between workload and employee satisfaction, that work-life quality partially mediates this relationship, and that motivation and work-life quality jointly partially mediate it. The study has revealed noteworthy findings on workload and employee satisfaction in academic institutions. It is recommended that concrete and implementable services be provided to enable academic staff to achieve a healthier, more productive, and more satisfying work environment.
Workload, Motivation, Work-life Quality, Employee Satisfaction Path Analysis
Copyright (c) 2025 Abdullah Elçi- Ömer Çınar http://creativecommons.org/licenses/by-nc-nd/4.0
The mediating role of brand loyalty in the effect of self-congruity on purchase intention of Generation Z
Today, with the acceleration of digitalisation, the impact of social media influencers (SMI) on consumer behaviour is becoming increasingly important. In this context, psychological factors such as self-congruity, brand loyalty, and purchase intention play a critical role in brands' interactions with Generation Z. This research aims to examine the mediating role of brand loyalty in the relationship between self-congruity (SC) and purchase intention (PI) among Generation Z consumers. The universe of the research consists of Generation Z social media users living in Istanbul and following at least one social media influencer (SMI). Data from 219 valid surveys, selected by convenience sampling method, were analysed using Partial Least Squares Structural Equation Modelling (PLS-SEM) and the SmartPLS 4 program. The analysis findings revealed that self-congruity (SC) is an essential determinant of brand loyalty (BL) and the impact of BU on SN is realised through MS. These results contribute to the digital marketing literature by revealing the indirect effects of SMIs on the brand perception of Generation Z consumers. The study offers valuable insights for marketers seeking to understand the impact of brands promoted by SMIs on the self-congruence of Generation Z.
Self-Congruity, Purchase Intention, Brand Loyalty, Digital Marketing
Copyright (c) 2025 Ayben Ceyhan Günay http://creativecommons.org/licenses/by-nc-nd/4.0
Barriers and opportunities to the adoption of innovative technologies: An empirical study on the relationship between contactless payment and consumers with an extended Technology Acceptance Model
With the rapid increase in digitalisation today, the adoption of innovative technologies, such as contactless payment systems, holds critical importance for both consumers and businesses. This study examines, through an extended Technology Acceptance Model (TAM), the factors influencing the adoption of contactless payment technologies from the perspective of consumer behaviour using an extended TAM. In the model tested using structural equation modelling (PLS-SEM), the relationships between perceived ease of use, perceived usefulness, perceived risk, service quality, perceived trust, social value, brand experience, brand preference, satisfaction, and intention to reuse were empirically analysed. Additionally, this study investigated the mediating role of satisfaction in the relationship between brand experience, brand preference, and intention to reuse. The findings revealed that perceived ease of use, perceived trust, and service quality have a significant and positive effect on brand experience. Brand experience and brand preference have a substantial and positive impact on user satisfaction. Furthermore, satisfaction plays a crucial mediating role in the relationship between brand experience, brand preference, and the intention to reuse. These results demonstrate that user satisfaction is a crucial factor in influencing consumers' intentions to reuse contactless payment technologies. The lack of expected significant effects of perceived risk and usefulness highlights the importance of contextual factors in technology adoption. While this study offers critical theoretical contributions to the technology acceptance literature, it also provides practical recommendations for enhancing user experience and satisfaction in the financial technologies (fintech).
Innovative Technologies, Contactless Payment, Technology Adoption, Consumer Behaviour, Intention to Reuse
Copyright (c) 2025 Barış Armutçu http://creativecommons.org/licenses/by-nc-nd/4.0
Invisible risks in women's labour in agriculture: Product-based assessment of seasonal and resident labour force in Turkey
This study examines the working conditions and occupational health and safety (OHS) risks faced by women workers in the agricultural sector in Türkiye, with a focus on the production, harvesting, and product processing stages, and adopts a product-based approach. A systematic literature review was conducted, focusing on annual (wheat, cotton, corn, tobacco, rice) and perennial (grape, fig, tea, hazelnut, orange, almond, walnut, rose) products. It was determined that women workers are exposed to severe physical (musculoskeletal disorders), chemical (exposure to pesticides and nicotine), biological (plant sap, insect bites), and climatic (heatstroke, dehydration) risks not only during the harvest process but also during the product processing stages. In addition to challenges such as access to adequate shelter, hygiene facilities, and health services, especially during seasonal migration, gender-based risks faced by women workers (sexual harassment, discrimination, poor hygiene conditions, reproductive health problems, and social exclusion) further exacerbate their health and safety vulnerabilities. In the study, concrete policy recommendations were presented for developing product-based protective measures, improving seasonal migration conditions, expanding health screenings, and integrating women workers into the social security system.
Female Agricultural Labour, Occupational Health and Safety, Agricultural Sector, Seasonal Work, Product Processing Stage
Copyright (c) 2025 Evren Çağlarer http://creativecommons.org/licenses/by-nc-nd/4.0
The moderating role of perceived compassion in the relationship between psychological ownership and rumination: A study on employees affected by the February 6, 2023, Kahramanmaraş earthquakes
Traumatic events, such as earthquakes, may heighten employees' ruminative tendencies, which can negatively impact their psychological well-being and organisational performance. This study aims to investigate the moderating role of compassion perception in the relationship between psychological ownership and rumination, and to determine whether these variables differ across various demographic characteristics. This explanatory and cross-sectional study was conducted with 382 participants, comprising public and private sector employees residing in the provinces of Kahramanmaraş, Adana, and Osmaniye, which were affected by the earthquake that occurred in Turkey on February 6, 2023. Participants were selected using purposive sampling. Data were collected using validated scales that measured psychological ownership, rumination, and compassion perception. Results revealed that compassion significantly moderated the negative relationship between psychological ownership and rumination. Furthermore, significant differences were observed in all three variables across demographic factors, including gender, age, marital status, institution type, and income level. These findings underscore the importance of cultivating compassion and ownership perceptions in post-disaster workplaces to promote psychological resilience and mitigate maladaptive thought patterns. The study contributes to disaster psychology literature and offers implications for developing employee-centred recovery strategies and support programs in organisational settings.
Psychological Ownership, Rumination, Compassion, Earthquake, Employees
Copyright (c) 2025 Sevda Demir http://creativecommons.org/licenses/by-nc-nd/4.0