Browsing by Subject "Developing markets"

Now showing 1 - 5 of 5

Open Access
Developing markets? understanding the role of markets and development at the intersection of macromarketing and transformative consumer research (TCR)
(SAGE Publications Inc., 2015) Figueiredo, B.; Chelekis, J.; DeBerry-Spence, B.; Fırat, A. F.; Ger, G.; Godefroit-Winkel, D.; Kravets, O.; Moisander, J.; Nuttavuthisit, K.; Peñaloza, L.; Tadajewski, M.
Situated at the intersection of markets and development, this commentary aims to promote a cross-fertilization of macromarketing and Transformative Consumer Research (TCR) that directs attention to the sociocultural context and situational embeddedness of consumer experience and well-being, while acknowledging complex, systemic interdependencies between markets, marketing, and society. Based on a critical review of the meaning of development and an interrogation of various developmental discourses, the authors develop a conceptual framework that brings together issues of development, well-being, and social inequalities. We suggest that these issues are better understood and addressed when examined via grounded investigations of the role of markets in shaping the management of resources, consumer agency, power inequalities and ethics. The use of markets as units of analysis may lead to further cross-fertilizations of TCR and macromarketing and to more comprehensive theorizing and transformational impact. Two empirical cases are provided to illustrate our framework.
Open Access
Efficiency of Istanbul Stock Exchange with respect to macroeconomic variables: a study using Granger causality
(1996) Özer, Murat
The purpose o f this study is to test the efficiency of Turkish security market with respect to a number o f macroeconomic variables, using multivariate Granger causality tests in conjunction with Akaike's final prediction error(FPE) criterion. The data set includes the daily values o f the Istanbul Exchange Index and macroecononomic variables between the years 1988-1994. The testing period is divided into sub-periods, based on the levels o f trading volume which represents the different developmental phases of the market. The empirical results showed that the macroeconomic variables effecting the stock prices change through time, in accordance to the changing market characteristics. Therefore, the success of any model over the estimation period does not guarantee that the same model will perform well outside the testing period.
Open Access
Marketing and public policy: Transformative research in developing markets
(2012) Shultz, C.J.; Deshpandé, R.; Cornwell, T.B.; Ekici, A.; Kothandaraman P.; Peterson, M.; Shapiro, S.; Talukdar, D.; Ann V.
Developing markets are a challenge for researchers who study them and for governments, business leaders, and citizens who strive to improve the quality of life in them. The limitations of the dominant development paradigm coupled with the need to focus on consumers provide tremendous opportunities to engage in truly transformative research. Toward this outcome, several interactive forces must be understood and addressed during research design, management, and implementation. The purpose of this essay is to provide a synthesis-that is, a framework in the form of a conceptual model-with practical applications to transformative research in developing markets and, ultimately, with the broader objective to stimulate new conceptualizations, research, and best practices to transform consumer well-being. © 2012, American Marketing Association.
Embargo
Pricing the net benefits of a public loan guarantee scheme in a developing market
(Elsevier, 2023-09-17) Bozkurt, A.T.; Günsür, Başak-Tanyeri
Turkish credit markets experienced a liquidity crunch following the Brexit referendum in June, the attempted coup in July, and the US election in November of 2016. The government announced a 12.5- fold increase in the Treasury support for the Credit Guarantee Fund to alleviate the credit squeeze. We investigate whether investor reactions to the announcement of the increase in Treasury support in KGF are in line with the stated aim of policymakers. Firms listed on Borsa İstanbul averaged 5.72 percent cumulative abnormal returns (CARs) in the 9-day window around the announcement. Investors anticipated the benefits from public guarantees would outweigh the costs. The positive and significant CARs suggest that the information released in the announcement, in line with the program aims, positively affected investor expectations.
Open Access
Turkish IPOs in a changing regulatory and economic environment
(Elsevier, 2021-06-17) Tanyeri, Başak; Öztürkkal, B.; Tırtıroğlu, D.
The larger underpricing (15 percent) in the early years following the inauguration of Borsa Istanbul indicates the importance of investors, intermediaries, and firm insiders learning about the trading and pricing of firms in organized stock markets. The underpricing in recent years (from 2010 to 2020) averages 5 percent. Micro-level uncertainties about the firm as evidenced by the smaller underpricing in IPOs marketed using fixed offer prices, and the IPOs where underwriters signed on for firm commitment also prove important. Underpricing also proves smaller in larger IPO firms.