Abstract: This paper aims to provide a conceptual framework to examine competitive disadvantage of banks that suffer from poor performance. Banks generate revenues mainly from the interest rate spread on taking deposits and making loans while collecting fees in the process. To maximize firm value, banks seek loan growth and expense control while managing risk associated with loans with respect to non-performing borrowers or narrowing interest spread between assets and liabilities. Competitive disadvantage refers to the failure to access imitable resources and to build managing capabilities to gain sustainable return given appropriate risk management. This paper proposes a four-quadrant framework of organizational typology is subsequently proposed to examine the features of competitive disadvantage in the banking sector. A resource configuration model, which is extracted from CAMEL indicators to examine the underlying features of bank failures.
Abstract: There are many debates now regarding undervalued
and overvalued currencies currently traded on the world financial
market. This paper contributes to these debates from a theoretical
point of view. We present the three most commonly used methods of
estimating the equilibrium real effective exchange rate (REER):
macroeconomic balance approach, external sustainability approach
and equilibrium real effective exchange rate approach in the reduced
form. Moreover, we discuss key concepts of the calculation of the
real exchange rate (RER) based on applied explanatory variables:
nominal exchange rates, terms of trade and tradable and non-tradable
goods. Last but not least, we discuss the three main driving forces
behind real exchange rates movements which include terms of trade,
relative productivity growth and the interest rate differential.
Abstract: Milk is a very important nutrient. Low productivity is
a problem of Turkish dairy farming. During recent years, Turkish government has supported cooperatives that assist milk producers and
encouraged farmers to become cooperative members. Turkish
government established several ways to support specially smallholders. For example Ministry of Agriculture and Rural Affairs
(MARA) provided two to four cows to villagers on a grant or loan basis with a long repayment period at low interest rates by
cooperatives. Social Support Project in Rural Areas (SSPRA) is
another support program targeting only disadvantaged people,
especially poor villager. Both programs have a very strong social
support component and similar objectives. But there are minor
differences between them in terms of target people, terms and conditions of the credit supplied Isparta province in Mediterranean region of Turkey is one of the
supported regions. MARA distributed dairy cows to 1072 farmers through 16 agricultural cooperatives in Isparta province in the context
of SSPRA. In this study, economic-social impacts on dairy cattle project
implemented through cooperatives were examined in Isparta. Primary data were collected from 12 cooperatives- president. The
data were obtained by personal interview through a questionnaire and
to cooperatives and given to farms benefiting from the project in
order to reveal the economic and social developments.
Finding of the study revealed that project provided new job
opportunities and improved quality of livestock. It was found that producers who benefited from the project were more willing to
participate in cooperative or other producer organizations.
Abstract: This paper evaluates the dividend payments for general
claim size distributions in the presence of a dividend barrier. The
surplus of a company is modeled using the classical risk process
perturbed by diffusion, and in addition, it is assumed to accrue interest
at a constant rate. After presenting the integro-differential equation
with initial conditions that dividend payments satisfies, the paper
derives a useful expression of the dividend payments by employing
the theory of Volterra equation. Furthermore, the optimal value of
dividend barrier is found. Finally, numerical examples illustrate the
optimality of optimal dividend barrier and the effects of parameters
on dividend payments.