bluuebunny/crossref_metadata_2025 huggingface dataset:
HUBUNGAN DISIPLIN KERJA DAN MOTIVASI TERHADAP BUDAYA KERJA PADA CV. PANCA MANDIRI JAYA KARAWANG
Authors: Jamaludin Asep
Published: December 2019

ABSTRAK

Penelitian ini bertujuan untuk mengetahui apakah Motivasi dan Disiplin Kerja berHubungan terhadap Budaya Kerja Pegawai CV. Panca Mandiri Jaya Karawang. dan apakah secara simultan Motivasi dan Disiplin Kerja berHubungan positif terhadap Budaya Kerja Pegawai CV. Panca Mandiri Jaya Karawang. Penelitian ini dilakukan dengan menggunakan metode deskriptif kuantitatif dan verifikatif, yaitu mengumpulkan, menyajikan , menganalisis, dan melakukan pengujian hipotesis, serta membuat kesimpulan dan saran. Sempel dikumpilkan dengan metode proportionate stratified Random Sampling dengan jumlah sempel 146 responden dari populasi 230 Pegawai. Teknik pengumpulan data adalah melalui angket dan observasi. Untuk melihat Hubungan maka analisis yang digunakan adalah path analisis. Sehingga dari hasil penelitian akan diketahui secara parsial variabel Motivasi dan Disiplin Kerja mempunyai Hubungan yang signifikan terhadap Budaya Kerja Pegawai. Hasil Penelitian ini dapat disiimpulkan bahwa terdapat Hubungan dari Motivasi dan Disiplin Kerja terhadap Budaya Kerja Pegawai dengan rincian sebagai berikut :

a. Terdapat Hubungan Parsial Motivasi terhadap Budaya Kerja CV. . Panca Mandiri Jaya Karawang. dengan nilai sig (0,000) < Î± (0,05) dan thitung (17,266) > ttabel (1,655), maka â€œH0 ditolak Hal ini menunjukkan bahwan motivasi berhubungan positif. Motivasi memiliki kontribusi sebesar 51,7% terhadap Budaya Kerja Pegawai

b. Terdapat Hubungan Parsial Disipin Kerja terhadap Budaya Kerja CV. Panca Mandiri Jaya Karawang. dengan nilai sig (0,000) < Î± (0,05) dan thitung (14,104) > ttabel (1,655), maka â€œH0 ditolak Hal ini menunjukkan bahwa Disiplin Kerja berHubungan positifâ€. Disiplin Kerja memiliki kontribusi sebesar 409% terhadap Budaya Kerja.

Terdapat Hubungan simultan dari Motivasi dan Disiplin Kerja terhadap Budaya Kerja dengan kriteria nilai uji nilai sig (0,000) < Î± (0,05) dan fhitung (883K317) > ttabel (3,91), maka H0 ditolak. Total Pengauh Motivasi (X1) dan Disiplin Kerja (X2) memiliki kontribusi terhadap Budaya Kerja (Y) sebesar 92,5% sedangkan sisanya 7,5% merupakan kontribusi variabel lain (Îµ) yang tidak diteliti. Hal ini menunjukan bahwa motivasi dan Disiplin kerja secara bersama-sama memiliki Hubungan terhadap Budaya Kerja Pegawai CV. Panca Mandiri Jaya Karawang.

Kata Kunci : Motivasi, Disiplin Kerja, Budaya Kerja Pegawai
ANALISIS KUALITAS PELAYANAN DAN PRODUK TERHADAP KEPUASAN PELANGGAN PADA RUMAH MAKAN PADANG SEDERHANA KARAWANG
Authors: Jamaludin Asep
Published: December 2019

ABSTRAK kualitas pelayanan merupakan hal yang penting perhatikan oleh sebuah perusahaan terutama yang bergerak di bidang food service, ketika perusahaan berhasil mengaplikasikan kedua hal tesebut maka akan berpengaruh terhadap kepuasan pelanggan yang berujung pada pembelian ulang, sehingga dapat tercapainya tujuan perusahaan yaitu loyalitas dari pelanggan yang berujung pada keuntungan yang diperoleh perusahaan. Tujuan dari penelitian ini adalah untuk mengetahui, menjelaskan dan menganalisis seberapa besar pengaruh dan kualitas pelayanan yang diberikan Rumah Makan Rumah Makan Padang Sederhana Karawang kepada pelanggan terhadap kepuasan pelanggan, Fenomena perkembangan bisnis usaha kuliner pun terjadi pada kota karawang, hal ini terjadi karena adanya faktor-faktor yang mendukung perkembangan bisnis tersebut seperti potensi pasar yang cukup bagus mengingat kota karawang adalah kota yang berkembang dengan banyaknya usaha di kota karawang dan banyaknya masyarakat yang bekerja sebagai pekerja swasta dimana mereka lebih memilih untuk mengkonsumsi makanan diluar rumah yang cenderung lebih praktis. Selain itu pergeseran gaya hidup masyarakat dimana makanan bukan hanya untuk memenuhi kebutuhan biologis semata, namun juga untuk bersosialisasi maupun beraktualisasi. Karena usaha kuliner saat ini juga menyediakan ruang dimana konsumen dapat berkumpul dengan komunitasnya melalui layanan-layanan yang di sediakan. Dalam rangka menciptakan kepuasan konsumen, perusahaan perlu melakukan usaha pembinaan terhadap langganan, untuk itu perlu adanya tindakan strategi pemasaran yang tepat sesuai dengan prilaku konsumen tersebut, merupakan hal yang perlu mendapatkan perhatian utama, karena sebuah akan berhubungan langsung dengan kemampuan restoran untuk bersaing dan volume keuntungan yang akan di peroleh. yang dimaksud adalah makanan, maka yang harus di utamakan dari segi kebersihannya, kesegaran makanan, tampilan makanan yang menarik, rasa dan menu dengan banyak variasi, sehingga akan menjadi nilai lebih dan menjadi daya tarik tersendiri di mata konsumen
PENGARUH KEPEMIMPINAN, MOTIVASI KERJA DAN KOMUNIKASI TERHADAP KINERJA PEGAWAI PADA DINAS LINGKUNGAN HIDUP DAN KEBERSIHAN KABUPATEN KARAWANG
Authors: Mustaqim Agus
Published: December 2019

ABSTRAK

Penelitian ini bertujuan untuk mengetahui, menjelaskan dan menganalisis Kepemimpinan, Motivasi Kerja Dan Komunikasi Terhadap Kinerja Pegawai serta pengaruh parsial dan simultan Kepemimpinan, Motivasi Kerja Dan Komunikasi Terhadap Kinerja Pegawai Pada Dinas Lingkungan Hidup Dan Kebersihan Kabupaten Karawang. Jumlah sampel yang diambil sebanyak 151 pegawai dengan teknik sampling jenuh. Tesis ini diharapkan dapat memberikan sumbangan bagi pengembangan bidang manajemen khususnya manajemen sumber daya manusia. Metode penelitian yang digunakan penulis dalam penulisan ini menggunakan metode deskriptif dan verifikatif, dari hasil analisis data penelitian diperoleh beberapa kesimpulan sebagai berikut: (1) Kepemimpinan (X1) di Dinas Lingkungan Hidup Dan Kebersihan sudah sesuai kebutuhan pegawai, Motivasi (X2) di Dinas Lingkungan Hidup yang di berikan kepada pegawai sudah baik, Komunikasi (X3) di Dinas Lingkungan Hidup sudah berjalan dengan baik, Kinerja Pegawai (Y) di Dinas Lingkungan Hidup sudah memiliki kinerja yang baik. (2) Koefisien korelasi antara variabel bebas yaitu Kepemimpinan (X1) dan Motivasi (X2), kemudian Motivasi (X2) dan Komunikasi (X3) serta Kepemimpinan (X1) dan Komunikasi (X3) ketiga variable bebas tersebut memiliki tingkat hubungan yang kuat dan searah karena nilai positif.(3)Kepemimpinan secara parsial mempunyai pengaruh yang positif dan signifikan terhadap Kinerja. Kepemimpinan lebih banyak memberikan pengaruh terhadap Kinerja dibandingkan variabel Motivasi dan Komunikasi. (4)Motivasi secara parsial mempunyai pengaruh yang positif dan signifikan terhadap Kinerja (5) Komunikasi secara parsial mempunyai pengaruh yang positif dan signifikan terhadap Kinerja. (6) Kepemimpinan (X1), Motivasi (X2) dan Komunikasi (X3) secara simultan berpengaruh positif dan signifikan terhadap Kinerja Pegawai (Y).

Kata Kunci: Kepemimpinan, Motivasi, Komunikasi, Kinerja
COMMUNICATION SKILL PEMANDU LAGU DALAM MELAYANI PELANGGAN KARAOKE â€œXXXâ€ DI KARAWANG
Authors: . Solehudin , Megawati Liya
Published: December 2019

ABSTRAK

Penelitian ini bertujuan untuk mengetahui Communication Skill pemandu lagu dalam melayani pelanggan karaoke â€œXXXâ€ di Kabupaten Karawang. Penelitian ini membahas tentang kemampuan komunikasi dilihat dari komunikasi verbal, komunikasi non verbal, yang mendasari Communication Skill tersebut. Penelitian ini menggunakan pendekatan kualitatif dengan pendekatan dramaturgi. Proses pemilihan informan menggunakan teknik purposive sampling. Informan penelitian pada penelitian ini berjumlah 3 orang informan, teknik pengumpulan data dengan wawancara mendalam, dokumentasi, study kepustakaan dan pencarian data di internet. Uji keabsahan data dalam penelitian kualitatif meliputi beberapa pengujian. Peneliti menggunakan uji credibility (validitas internal) atau uji kepercayaan terhadap hasil penelitian. Uji keabsahan data ini diperlukan untuk menentukan valid atau tidaknya suatu temuan atau data yang dilaporkan peneliti dengan apa yang terjadi sesungguhnya di lapangan. Peningkatan ketekunan, Diskusi dengan teman sejawat, Membercheck. Hasil dari penelitian ini adalah Komunikasi Verbal yang digunakan oleh Pemandu Lagu yaitu : S a l a m Tips untuk menyatakan bonus atau uang tambahan lebih yang diberikan pelanggan untuk pemandu lagu, DiAngetan yaitu untuk menawarkan minuman beralkohol yang biasanya di tawarkan oleh pemandu lagu untuk pelanggannya, Goyang yaitu cara untuk menawarkan atau ajakan untuk berjoget. Itulah istilah â€“ istilah yang di gunakan oleh pemandu lagu dalam berinteraksi atau berkomunikasi dengan pelanggannya. Komunikasi Non Verbal Pemandu Lagu yaitu gestur tubuh sangat penting seperti: Ekspresi Wajah, Kontak Mata, Senyum, Bersalaman. Penampilan fisik. Seperti: Kostum atau Seragam, Penggunaan Make up, Accessories dan Parfum.

Kata kunci : Komunikasi Verbal, Komunikasi Non Verbal
The Present Global Crisis and Its Effect on the Turkish Economy
Authors: Hiç Özlen
Published: December 2019

The global economic crisis first started in the USA in September 2008 as a widespread insolvency problem caused by mortgage debts of households that had become unpayable. The financial crisis, in turn, caused a serious recession. The economic crisis soon spread to other developed countries because their banks held assets of US banks that had become nearly worthless while exports of these countries to the USA decreased significantly. Then it spread to developing countries because direct private investments (DPIs) and financial funds flowing from developed to developing countries declined precipitously while exports of the latter to the former countries also fell down. The developed countries, however, took proper steps to ameliorate the crisis by lowering the interest rates, helping the insolvent banks financially as wel as launching public expenditure programmes. Turkey was one of the worst hit countries because she had been following wrong globalization strategies. Privatization process was corrupt while much of the DPIs went to those fields which did not yield much increase in employment or export potential. But most importantly, Turkey had raised interest rates to abnormally high levels and thereby had vastly expanded her internal and external debts. Hence, as a result of the global economic crises, Turkey suffered a significantly deep fall in her GNP growth rate and a very big increase in her unemployment rate. Though Turkey took several measures to ameliorate the balance of payments deficit and to expand total demand, hence production, the government refrained from making a stand-by agreement with the IMF in order to avoid strict discipline in her government expenditures due to first, local elections and presently, the coming parliamentary elections.
The Place of Central Asian Turkic Republics in the Global World
Authors: Karapınar Esra
Published: December 2019

Globalization process which started at the end of nineteenth century and goes on at the present shows its impacts more in some countries or less in some other countries but this is a process that closes up countries, blots out authorities’ immunities, makes them become transparent, and strengthens socio-cultural, political and especially economic relations. After the terms of being introverted and self-sufficiency between First and Second World Wars, struggles to liberalized world trade have been accelerated since 1960, and good and service flows between countries grew both as a volume and value. As a result of liberalization and deregulation politics which appears since 1980, the capital could move easier on the world. So, how has this process felt its effect on the Central Asian Turkic Republics includes Kazakhstan, Turkmenistan, Kyrgyzstan and Uzbekistan that arised in 1991 after dissociation in the Soviet Union because of clearing and reconstruction policy applied and after facility of establishing its own, independent states by earning their national identities to Turkish elements who lived under the sovereignty of Russians for years is given? The aim of study here is to analyse the effects of that globalization wave in the Turkic Republics which spread out all over the world. For this purpose, first of all changes in the Soviet Union 's policy will be considered and reflections of it on the economical life are to be investigated, and then applications and what the course of actions about integration with the World determined by mentioned republics after dissociation are to be discussed.
Russia's Free Market Perception and the Global Crisis
Authors: İşcan İsmail Hakkı , Hatipoğlu Yıldız Zeliha
Published: December 2019

The answer of why Russia is not affected from today’s global crisis, considerably, is crucial. Since 1990, Russia has been liberalizing its markets rapidly, has decreased implementations which are deterrent for open market significantly until these days. By 2000’s Russia, has entered to a new term in which economic profit and instrument depending on energy sources are commented as basic priorities and instruments at foreign policy. In this study Russia’s free market applications with this new era are dealt with and results of these applications are found out with the framework of 2008 global crisis.
Determining a Dynamic Relationship Between Stock Prices and Exchange Rates: An Empirical Study on Eurasia
Authors: Elmas Bekir , Esen Ömer
Published: December 2019

The stock price has a close relationship with some macroeconomic variables. As examples of the main macroeconomic variables can be shown that exchange rates, inflation, interest rate, growth rates. This paper empirically examined the relationship between the local stock market indexes and exchange rate (USD) in six Eurasian countries namely Turkey, Germany, France, Netherlands, Russia, France and India. The paper set out by testing existence of a long-term relationship between considered two variables using the Engle-Granger (1987), Johansen (1988, 1995) and Johansen-Juselius (1990) cointegration methods. Results of Engle- Granger cointegration test showed that there is no cointegration linkage between two variables under consideration. Furthermore, The Johansen cointegration test found that there is a long-term relationship between two variables (variables in the two countries). Under the VAR (Vector Autoregressive) and VEC (Vector Error Correction) models appllied the Granger causality test, revealed an unidirectional casual relationship between two variables in each of the six countries. In addition as regards the relationship While there is a unidirectional causal relationship running from exchange rate to stock market for four countries. However this relation is casual running from stock market to exchange rate for other two countries. According to the direction of the relationship these results that relationship between stock prices and exchange rate in four countries supports for the “Traditional Approach”. Furthermore, this relation also supports for the “Portfolio Approach” for other two countries.
Relationship Between Exports and Economic Growth in Turkic Republics in Transition Process
Authors: Sarı Selahattin , Gerni Cevat , Değer Mustafa Kemal , Emsen Ömer Selçuk
Published: December 2019

After the collapse of the Eastern Bloc in 1991 the newly independent Turkic republics have experienced a transition recession that is relatively more severe and longer as compared to the case of the Central and Eastern transition economies. The lack of political and socio-economic institutional infrastructure needed for transition is argued as the key factor of this process. The efforts of these countries to integrate with the world markets by force of economic liberalization, the term which is used as the synonym of the transition, constitute the pivot. In the process of liberalizing the commodity markets exports and imports take the most important place. With the process of transition, in the Turkic republics, the production linkages, in other words input interdependencies, which had been formed during Soviet era, broke out and hence production bottlenecks and hyperinflations occurred. While negative supply shocks are expected to overcome in the years 2000s, it is also expected that exports and economic growth relationships as the result of market economy and trade liberalization barely arise. This study concerns the exports and economic growth relationships which forms a trivet of liberalization applications in the Turkic republics. Nevertheless, there is a vest literature that suggests that for exports and outward-orientation to effectively affect economic growth a country should attain a minimum level of development. In this context, the relationships between exports and economic growth in the Turkic republics will be investigated using panel data and causality tests.
The Determinants of Net Interest Margin in Conventional and Islamic Banks in Indonesia
Authors: Ascarya Ascarya , Yumanita Diana
Published: December 2019

Indonesia has adopted dual banking system since 1998, when conventional bank operate side by side with Islamic bank. One measure of bank’s performance as intermediary institution to stimulate economic growth is net interest margin (NIM) in conventional bank or net profit-and-loss sharing/PLS margin (NPM) in Islamic bank. This study analyses the determinants of NIM and NPM in Indonesia using multivariate analysis and dynamic panel data to see the persistence of large NIM and NPM in the recent past, although policy rate has been decreasing significantly.
Finance Sector In the Eurasia Economies During and After 2008 Global Crisis
Authors: Yılmaz Naci , Selçuk Bora
Published: December 2019

As in the other countries around the world, banking systems in Eurasia economies, comprised of Armenia, Azerbaijan, Georgia, Kazakhstan, the Kyrgyz Republic, Tajikistan, Turkmenistan and Uzbekistan, were adversely affected by the 2008 global crisis; A common challenge across most economies is to revive private-sector credit growth. Compared with the high increases of 80 percent in the period immediately prior to the crisis, credit growth has slowed sharply and even turned negative in real terms in a number of economies. Governments in many countries have taken measures to address banking sector stress. The measures for restoring credit growth and thus a high economic growth will be discussed in a part of our work. In the short run, such measures include aiding banks to repair balance sheets and also providing liquidity. In the medium term, measures should promote de-dollarization and the development of local debt markets.
Turkish Misson and Globalization Ideology in Terms of Eurasia
Authors: Kök Recep
Published: December 2019

Evaluating globalization fact with West Ideology which dictate to society, In Eurasia generally and in Turkey specifically, Turkey’s geopolitical and strategical importance about Eurasia constantly increase. The aim of this study is firstly to consider historical framework and literature side of globalization in short within the boundaries of this study. Then, the necessity of strategy with Turkish Mission’s references from globalization ideology reflections on world state system is presented.
Tradition and Poverty Reduction – Mahalla and its Significance in Development Process in Tajikistan
Authors: Cieslewska Anna
Published: December 2019

Significance of mahalla as informal social, self-governing institution has increased due to a variety of factors related to the post-transitional changes in Tajikistan. The phenomenon of existence of informal self-government bodies has not been only exclusive to Central Asia or Tajikistan. However, in a case of Central Asia, those institutions have always played significant role in maintaining social order and frequently they are more legitimized in the eyes of local residents than the formally established self-government. Recently, the government of Tajikistan has attempted to incorporate the elements of (indigenous) self-governmental institutions into the formal self-government’s structures. Also, international organizations try to integrate mahalla as important element which would facilitate development’s process. Identification of potential of this old institution could become a good base for poverty reduction and social programs.
The Role of Turkey in the Energy Supply of EU: A Cost and Benefits Analysys
Authors: Develi Abdulkadir , Ay Ahmet , Karaçor Zeynep
Published: December 2019

EU does not have adequate energy resources when it is compared with its grant amount of energy consumption.. Russia is one of the most important traditional suppliers for the EU and is trying to maintain its position in the future. Russia sometimes use energy as political tools as it seen in example of Ukraine Crises. So, diversification of energy resources of EU will provide more competitive energy supply and it strength energy security of EU. Therefore, EU needs to regional cooperation for energy diversification. Caspian region is energy rich region. Therefore Turkey’s strategic location makes it a natural "Energy Bridge" between the major oil producing areas in the Middle East and Caspian Sea. This paper tries to examine costs and benefits analyzing between Turkey and EU aspects of energy cooperation. These costs and benefits analyzing also include projects that are under the construction or still project process. Turkey has some benefits from this process. Because pipelines that provide energy to Europe passes though Turkish boundary and Turkey collect transportation fee from these pipelines and also EU has support these project financially. This is also contains cost for EU.
Marketing of the National Power of the Turkic Republics in the Integration and Global Levels
Authors: Karabulut Muhittin , Karabulut Tuğba
Published: December 2019

The purpose of the paper: The purpose of this paper is to enhance the power and its sustainability of the synergies within the Turkic Republics (TRs7) including Turkey and to develop the integration of marketing activities within the near and far a competitive global environment with the FTA (the free trade area). With this in mind, the content of this paper would be as follows: The current states of physical, human, economic/financial, technical information systems of Turkic Republics that make up the national factors are examined. Likewise, the level of attractiveness of the global environment among the Turkic Republics is analyzed. As levels of power and attractiveness of this opportunity and threat assessments are possible, the Turkic Republics in search of integration such as the FTA, the environment and global approach focuses on the possible marketing strategies.
The Role of Internet Technologies in Improvement of Tax Administration Efficiency in Ukraine: Problems and Prospects
Authors: Orlova Valentina
Published: December 2019

In the current context information technologies including Internet technologies are the most important factor in providing sustainable social and economic development of the nation. Taking part in implementing government functions they represent a new form of citizens public authorities communication within the bounds of e-government. Offices of State Tax Administration of Ukraine are part of public electronic space and are actively employing Internet technologies in administering their functions. They are represented by hardware and software for information collection, processing, transfer and storage, and also serve as active communication medium with taxpayers. Official website of tax administration of Ukraine has 20 sections, 163 sub-sections and more than 400 heads in Ukrainian, Russian and English languages. In conditions of taxation system reforming it provides on-line access to live information and is efficient tool in forming optimal ties with taxpayers providing feedback in discussing topical taxation questions. Introduction into effect of the Tax Code has made fundamental changes in tax procedure and administration methods. Procedure of submitting tax accounts in electronic form through Internet has been improved. It enables to aggregate taxpayers review data and tax offices accounting data into unified technological process. The paper gives analysis of the influence of IT on improving efficiency of tax administration in the current context and assessment of the prospects for its further improvement.
Effects of Institutional Factors on Economic Growth in Eurasian Countries
Authors: Yendi Irem
Published: December 2019

Economic growth is a complicated process which is affected by several factors. Standard neoclassical economic approach didn’t address the effects of institutional factors on economic growth but such effects are started to be considered in economic growth literature together with the new institutional economy. According to the new institutional economic approach institutions decrease the uncertainty are effective on the cost of transaction and conversion and also impact economic performance by directing economic activities towards productive or non- productive fields. Within this framework, effects of institutional factors on economic growth in Eurasian Countries between 1996 and 2008 are searched via panel data analysis method by use of World Bank’s, Heritage Foundation and Freedom House data sets. According to the findings collected, guaranteeing property rights, increasing quality of regulation and civil liberties affect positively economic growth on Eurasian Countries.
Software Development in Kyrgyzstan: Potential Source of Economic Growth
Authors: Sabyrbekov Rahat
Published: December 2019

In recent years, software development in the Kyrgyz Republic demonstrated 60-70% growth rate. Kyrgyz software products are exported to Central Asian neighbors and to the Western countries such as Italy, Australia and Holland. With the highest Internet penetration in the region and pool of qualified staff Kyrgyzstan has real chances to sustain the growth rate of the industry. Moreover, the cheap labor creates comparative advantage for local software producers. The break-up the Soviet Union lead to bankruptcies of traditional industries in the Kyrgyz Republic and thousands of highly qualified engineers were left unemployed. Simultaneously since independence Kyrgyz government implemented number of reforms to encourage development of Information and Communication Technologies which lead to the establishment of ICT infrastructure in the region.
The paper analyzes the development trend of the software production industry in the Kyrgyz Republic. We will also overview international experience as in the leading software producers as well as in neighboring countries. The study also builds projections for the next decade and draw on certain policy implications. In addition the paper will provide policy recommendations. The data used is from by the Association on IT companies, questionnaires, National Statistics Committee, Word Bank and Asian Development Bank.
The Effects of the Illiquidity Premium on Security Returns and its Importantance for Eurasia
Authors: Kuzu Serdar
Published: December 2019

This study investigates the illiquidity premium, which has major impact on Eurasian economies, and its term structure. For this aim, The Germany which is very important for Europa and Asia countries is investigated. In this study, the effects of the term structure of the illiquidity premium on government and corporate bonds and “the return of securities – illiquidity premium – expectation theory relationship” are investigated through various parameters and formulations. Consequently, the study is used to Kempf, Korn and Uhrig-Homburg’ study, which aims to investigate relations between German public sector’s bonds and private sector’s bonds and it was realized 2009. It is found that illiquidity premium varies in short, medium and long terms depending upon different factors and the curve that connects illiquidity premiums with different terms is a U shaped curve.
Studies that use traditional methods in asset pricing evaluate the illiquidity premium as a systematic risk criteria. But, illiquidity is a risk factor that should be investigated alone instead of be investigated with all of the risk factors.
Financial market makers aim to make arrangements that remove the problems arising from the level of liquidity, in other words increase the level of liquidity, and contribute to the formation of efficient price.Further studies in this field will be very important in the development process of corporate bonds market with the decrease of interest rates in international markets and the issue of new corporate bonds in developing countries recently.
The Changes in Foreign Debt for the Transition Economies
Authors: Karaköy Çağatay , Uzun Ahmet , Emsen Ömer Selçuk
Published: December 2019

1989 and the years following 1991 were the times in which many important economic and political turnovers had taken place in the world. That was the time when Berlin Wall fall down with scattering the Eastern block and many politically and economically independent states came into being, at the same time, ongoing about 70 years socialist system also started to spin into liberal system. The constituted 27 states in 1991 were tended to liberal economic system instead of socialist economy, and these stated were called as transition economies. With the transition period, there has have been significant decreases in the level of affluence, hyperinflation and some common properties seen at the beginning. It became inevitable to get foreign debt for reorganization and configuration of these economies. Nevertheless these foreign debts caused many serious problems in some of these economies. In the present work we tried to understand the economic structure and external loans of the transition economies, which are different with respect to their natural resources and are similar to each other in term of social, political and cultural aspects. It was under debated to investigate the relationship between indicated foreign debts and indicated domestic income and external trade so foreign trade financing problematic which thought to be the source of going into debt and economical development relations are searched.
The Relationships between Enterprise Restructuring and Economic Growth / Human Development Level in Central Asian Republics
Authors: Gerni Mine , Ersungur Ş. Mustafa , Özdemir Dilek , Emsen Ömer Selçuk
Published: December 2019

Considering the performance of growth, it is observed that the Central Asian Turkish republics achieved their income levels of 1991, the year they gained political independence, very lately as compared to the other transition economies. It is argued that those factors such as enterprise restructuring and insufficient political rights and individual freedoms came into play for their failure. Thus, it can be said that reflections which are described as economic growth flourishes privately from the lack of entrepreneurship, and also lack of entrepreneurship stems mostly from insufficient libertarian structures. In this paper, enterprise restructuring and price liberalization values published periodically by European Bank for Reconstruction and Development and the indicators of political rights and civil liberties published by Freedom House are taken into consideration, and the effects of these on economic growth and/or on human development as a much comprehensive indicator are investigated. In this perspective, instead of the effects of quantitative variables, the effects of four important qualitative variables on Central Asian Republics’ growth/human development are studied.
Liberalism and Economic Growth in Transition Economies
Authors: Gerni Cevat , Sarı Selahattin , Değer Mustafa Kemal , Emsen Ömer Selçuk
Published: December 2019

In the world economy, since 1960s, countries, which are open and apply liberal policies succeeded higher economic growth and welfare. Therefore, liberal policies became more attractive. In that case, the transition, which has political, economic, and socio-cultural aspects, means moving from socialist-authoritarian structure to market based-liberal structures. In the literature, there are many studies which point out labor force and capital are not significant on the economic growth. In addition, the literature focuses on the importance of institutions on the economic growth. In this study, we compare the countries which were quickly away from the socialist structures with the countries which were slow on the reforms. Our analysis depends on their economic growth with cross section. However, we know the importance of institutional aspects on the growth research; therefore, we applied 2SLS regression analysis and to determine the economic liberalism indicators we used political rights, civil liberties, years that were under the socialism, openness, secondary school ratio, and public spending/GDP ratio. In the late phase, GDP per capita, as an indicator of economic growth, is explained with an independent variable which is predicted in the first phase via liberalism variable, and labor-population ratio and constant capital stock GDP ratio variables used in Neo-classical Solow-type growth model.
Foreign Trade Problems of Kyrgyzstan
Authors: Ganiev Junus , Baigonushova Damira
Published: December 2019

This paper aims to explore export potentials of Kyrgyzstan and proposes possible measures to increase it. Comparative factor endowment estimations show that export production of Kyrgyzstan is labor-intensive. Therefore, promotion of labor-intensive sectors of the economy is important for growth of the export. Thus, determination and promotion of relatively advantageous sectors of the economy are most important measures. In particularly promotion of textile and processing industries are characterized as significant among other sectors of the economy. Development of export potentials necessitates special state support and advisory agencies. Further acceleration of integration process with other Eurasian economies is expected to positively contribute to growth of the export. However, recent socio-political developments in Kyrgyzstan have shown that stability and provision with security are fundamental factors for development of export potentials.
Regional Development Policies of the European Union: An Evaluation in the Framework of Structural Funds and Other Financial Instruments
Authors: İncekara Ahmet , Kılınç Savrul Burcu
Published: December 2019

Regional policy of the European Union (EU) is implemented in order to improve welfare and quality of life in specific regions of EU member countries, minimize inter-regional income differences and restructure less developed industrial areas. regions of the EU countries has urban and regional development differences in themselves. Regional policies have gained importance in the process of EU enlargement. Increases regional disparities has been observed to occur with the first expansion. Although the tools that the Community could use for regional inequality were initially limited, they began to increase over the years in the process of development of regional policy of the EU.
In this respect, this study will focus primarily on the EU regional development policies, the structural funds in line with the measures taken to ensure economic and social cohesion in EU countries and European Investment Bank and the new tools such as community tool will be discussed.
Current Trends in the Development of Green Jobs in Turkey
Authors: Sungur Zerrin
Published: December 2019

A sustainable green economy simultaneously values the importance of natural resources and inclusive, equitable, and healthy opportunities for all communities. A green job, also called a green-collar job is, according to the United Nations Environment Program, "work in agricultural, manufacturing, research and development, administrative, and service activities that contribute(s) substantially to preserving or restoring environmental quality. Specifically, but not exclusively, this includes jobs that help to protect ecosystems and biodiversity; reduce energy, materials, and water consumption through high efficiency strategies; de-carbonize the economy; and minimize or altogether avoid generation of all forms of waste and pollution." Turkey, an OECD country, also has some green jobs and employment. The main purpose of this study is to explore the trends in the emergence of green jobs sector and also to investigate the reflections of these developments on the employment rates in Turkey. The potential for green jobs exist in countries at all levels of economic development. Investments and programs to promote green jobs can be targeted at those who tend to need them most; young people, women and poor in Turkey.
The Tax Culture in Kyrgyzstan and its Determinants
Authors: Abdiyeva Raziya , Pirimbaev Jusup , Özdil Tuncer
Published: December 2019

Government needs healthy and permanent finance resource to carry out its functions successfully and effectively. Healthy and permanent finance resource depends on efficiency of tax system. There are two sides in taxation: the government who impose taxes and citizens who pay taxes. The relationship between these two sides, their views about each other's significantly influence the successiveness of tax system.
In our study we research taxpayers' perceptions of the tax, their tax conscience and their opinions about tax system and government. The results of the survey carried out in capital city of Kyrgyzstan between 500 taxpayers showed that the tax culture is low and the most important factors affecting the tax culture are: trust in the government, quality of public services and the informal economy. Moreover, proposals will be given, in order to establish more efficient tax system by improving tax culture.
Multilateralism versus Regionalism in Eurasia: Theoretical Reasons of Choosing Sides for Kyrgyzstan
Authors: Manasov Zamirbek
Published: December 2019

This paper asks whether Kyrgyzstan should take part in the newly established Customs Union among Belarus, Kazakhstan and Russia or in the World Trade Organization (WTO). From the start of the foundation of the new Customs Union there have been deep discussions among the proponents and opponents of organization. This issue attracted extra attention and interest because the new Customs Union includes non-members of the World Trade Organization such as Russia, Belarus, and Kazakhstan. In Addition, the new Customs Union, unlike previous regional trade agreements, has formed a supranational body –the Custom Union Commission - which will decide on Common External Tariffs. Kyrgyzstan is already a member country of WTO and is going to join the new Customs Union. How will this membership work for Kyrgyzstan in short and long-term period? Will the new Customs Union be substitutive or complementary to the WTO in the development of international trade of Kyrgyzstan? Which side would be more beneficial for Kyrgyzstan: membership to a regional Customs Union or to a multilateral WTO? This paper hopes to answer these main questions. This paper will have five sections. Section one will provide a brief introduction. Section two will analyze the development of regionalism and multilateralism in the region. In section three, theoretical compatibility of regionalism and multilateralism will be discussed. Section four will determine what can be proposed for the current situation of Kyrgyzstan according to selected theoretical literature. Concluding remarks will be given in last section.
Education - the Foundation of High Quality Human Capital
Authors: Koychuev Turar
Published: December 2019

The article examines the importance of education as the main factor of high quality human capital, vital and having prospects in the modern world; analyses current problems and recent trends, conditions of education in Kyrgyzstan and recommends ways to improve quality of organization and management, to create favourable conditions for building high quality human capital.
The Ties That Binds the Giant: China’s Interests in Energy Sources of Central Asia
Authors: Duran Hasan , Yılmaz Kadir Kürşat
Published: December 2019

Following the collapse of Soviet Union, the interest of China towards the Central Asia first revolved around the security and border issues. Then the fast growing economy of China since 2000 needs energy more she can produce. Becoming one of the biggest energy users, China has become more and more dependent on other countries to fill her energy deficit. Thus China has identified Central Asia as her prime area to built cooperative relations. In this respect, China started new relationships with Turkmenistan and Kazakistan in order to secure and sustain the procurement of oil and natural gas.
Thanks to its rich oil and natural gas reserves, Central Asia has become a region in which the great powers compete; with the years 2000s China joined to the rush. The rivalry in the region has a potential to change the balance of power in the World. This study evaluates this rivalry in terms of political and economic effects on China.
The Determinants of Sustainable Economic Growth in the Central Asian Turkish Republics
Authors: Solak Fahri , Sarıdoğan Ercan
Published: December 2019

Sustainable economic growth is very important for sustainable welfare of society. In this context, it is vital to determine the factors affecting sustainable economic growth and to design economic policies for affecting sustainable economic growth.
Main aim of this study is to investigate the determinants of sustainable economic growth and to recommend economic policies and strategies for selected Central Asian Turkish Republics, namely, Azerbaijan, Kazakhstan, Kyrgyzstan, Uzbekistan and Turkmenistan in order to achieve sustainable economic growth and development.
The main result of the study is that the main source of economic growth of Turkish Republics depends on the natural resources, which is not enough for sustainable economic growth in the long run. For this reason, Turkish Republics should transform their economic structures from natural sources based economic growth into science-technology and innovation based and global competitiveness oriented economic growth path by designing economic policies for developing human capital, education, research and development, national industry strategy improving the business and investment environment for investors and eliminating structural and institutional problems.
Deposit Protection in Eurasia and its Adaptation in Kyrgyzstan
Authors: Gaidarov Ruslan
Published: December 2019

In article the author describes the deposit protection system in Eurasia. Systems are compared with each other. It is also proposed to apply and improve the system of the Kyrgyz security deposits in a future perspective. Over the past 10 years in the scientific community and international financial institutions there was a notable rethinking of attitudes towards the protection of deposits, the role and place of the respective systems. If previously it was more neutral and cautious attitude, now at the international level has clearly proved the importance and effectiveness of this instrument of state policy. There is describes the principles of effective systems of deposit protection in article. There is proposed increase in the threshold compensation of the sum insured in those countries where it is not too large. There is justified by the transition from a single system of contributions to fund the deposit protection system to the differentiated contributions to the countries in which today the law contributions made by a simple calculation. The author asks: Should, in the light of international experience, to extend insurance coverage to the means of legal persons? The author believes that this successful experience, the acquisition of which countries should aspire to. But it is necessary to aware that the program deposit protection of legal persons requires completely different conditions, such as from banks, and by the Fund, acting as a deposit guarantee.
Problematic Issues in the Application of Corporate Income Tax in the Kyrgyz Republic
Authors: Macarenko Larisa
Published: December 2019

Corporate income tax is one of the national taxes in Kyrgyzstan. In the past few years the share of income tax revenue has been falling down. It should be noted that, apart from the economic reasons, the number of income tax payers is decreasing due to the widely using of special tax regimes in Kyrgyzstan. This paper aims to analyze the issues of corporate income taxation in Kyrgyzstan and offers their solution.
The main issues of corporate income tax application in Kyrgyz Republic are: the existence of problems caused by the economic situation in the country and financial policy; problems in tax administration; the solution of present problems requires a comprehensive approach; these problems cannot be solved only by improving the Tax Code; restoration of accounting and accountability in all economy sectors, the development of non-cash payments.
Stock Valuation: Dividend Discount Models
Authors: Kydyraliev Syrgak , Urdaletova Anarkül
Published: December 2019

One of the most widespread problems on a securities market is the problem of definition of an estimated stock value. It is necessary to note, that the stock price as well as the price of any good in the market is defined as the result of supply and demand interaction. Our task is to offer the mechanism, which allows making decision on purchase or sale. For this purpose the method of asset estimation by future cash flows will be used – i.e. we believe that the estimated value of an asset is equal to present value of the future cash flows which are provided by the asset. In our paper we will introduce methods for the valuation of stocks with arithmetic and pseudo-arithmetic growth of dividends.
An Evaluation of Human Development Index in Central Asian Countries
Authors: Öngel Volkan , Sözen İlyas , Çelik Ahmet Alkan
Published: December 2019

Economic development and growth had been the most important target among all goverments throughout the history. In this respect, Kazakhstan, Turkmenistan, Uzbekistan, Tajikistan and Kyrgyzstan in Middle Asian Region had chosen development as primary target in 20 years time after their independence. Human capital is the leading factor to maintain economic development and growth.
Development and growth terms over which different meanings and concepts were imposed in time, necessitated several political economic alterations. Before 1970’s, increase in income had been sufficient criterion for the development of a government. But nowadays economic development incorporates factors such as life expectancy at birth, school enrolment ratio, literancy rate, gender discrimination, poverty alleviation, equal distribution of income beyond economic growth. Herewith this change political preference and priorities has started to differentiate.
The aim of this study is to discuss human development index (HDI) data of 5 Middle Asian countries in 2010 and changes in HDI in years after their independence. Comparisan between Gross Domestic Product (GDP) and HDI rates are also performed within this analysis. This study consists of data of 5 Middle Asian countries between years 1990-2010. Basic, retrospective, illustrative library method is used as the study method.
In conclusion, we find that increase in GDP did not reflect over HDI in Middle Asian Countries within 20-years period.
Entrepreneurship within the Concept of a Social State
Authors: Andaç Faruk
Published: December 2019

Even if the social state concept is considered as a barrier to entrepreneurship, it is in fact a form of state government that encourages entrepreneurship. Social State, first of all, is a form of state that provides social welfare of society, social justice and social peace in the society. Entrepreneurship is generally introduced as a process including more risk-taking, innovation that is open to modernism, activities such as opportunity assessment. In fact, entrepreneurship comprises all of the activities including business continuity, sustainability, development and expansion. Accordingly, entrepreneurship is not only to establish a business, but also to develop and change it. Thus, entrepreneurship requires stability, continuity and practice. Entrepreneurs may unavoidably face some political, economic, social, military, financial obstacles that can not be anticipated. In such cases, entrepreneurs must be able to overcome the obstacles at the least possible costs. An entrepreneur is able to sustain his activities in a confident and stable manner in the spirit of the social state.