Eurasian Business and Economics Perspectives: Proceedings of the 31st Eurasia Business and Economics Society Conference PDF
Preview Eurasian Business and Economics Perspectives: Proceedings of the 31st Eurasia Business and Economics Society Conference
Eurasian Studies in Business and Economics 18 Series Editors: Mehmet Huseyin Bilgin · Hakan Danis Mehmet Huseyin Bilgin Hakan Danis Ender Demir Editors Eurasian Business and Economics Perspectives Proceedings of the 31st Eurasia Business and Economics Society Conference Eurasian Studies in Business and Economics 18 SeriesEditors MehmetHuseyinBilgin,Istanbul,Turkey HakanDanis,SanFrancisco,CA,USA Representing EurasiaBusinessandEconomicsSociety Moreinformationaboutthisseriesathttp://www.springer.com/series/13544 (cid:129) (cid:129) Mehmet Huseyin Bilgin Hakan Danis Ender Demir Editors Eurasian Business and Economics Perspectives Proceedings of the 31st Eurasia Business and Economics Society Conference Editors MehmetHuseyinBilgin HakanDanis FacultyofPoliticalSciences MUFGUnionBank IstanbulMedeniyetUniversity SanFrancisco,CA,USA Istanbul,Turkey EnderDemir FacultyofTourism IstanbulMedeniyetUniversity Istanbul,Turkey The authors of individual papers are responsible for technical, content, and linguistic correctness. ISSN2364-5067 ISSN2364-5075 (electronic) EurasianStudiesinBusinessandEconomics ISBN978-3-030-71868-8 ISBN978-3-030-71869-5 (eBook) https://doi.org/10.1007/978-3-030-71869-5 ©TheEditor(s)(ifapplicable)andTheAuthor(s),underexclusivelicensetoSpringerNatureSwitzerland AG2021 Thisworkissubjecttocopyright.AllrightsaresolelyandexclusivelylicensedbythePublisher,whether thewholeorpartofthematerialisconcerned,specificallytherightsoftranslation,reprinting,reuseof illustrations, recitation, broadcasting, reproduction on microfilms or in any other physical way, and transmission or information storage and retrieval, electronic adaptation, computer software, or by similarordissimilarmethodologynowknownorhereafterdeveloped. Theuseofgeneraldescriptivenames,registerednames,trademarks,servicemarks,etc.inthispublication doesnotimply,evenintheabsenceofaspecificstatement,thatsuchnamesareexemptfromtherelevant protectivelawsandregulationsandthereforefreeforgeneraluse. The publisher, the authors, and the editorsare safeto assume that the adviceand informationin this bookarebelievedtobetrueandaccurateatthedateofpublication.Neitherthepublishernortheauthorsor theeditorsgiveawarranty,expressedorimplied,withrespecttothematerialcontainedhereinorforany errorsoromissionsthatmayhavebeenmade.Thepublisherremainsneutralwithregardtojurisdictional claimsinpublishedmapsandinstitutionalaffiliations. ThisSpringerimprintispublishedbytheregisteredcompanySpringerNatureSwitzerlandAG. Theregisteredcompanyaddressis:Gewerbestrasse11,6330Cham,Switzerland Preface This is the 18th issue of the Springer’s series Eurasian Studies in Business and Economics,whichistheofficialbookseriesoftheEurasiaBusinessandEconomics Society(EBES,www.ebesweb.org).Thisissueincludesselectedpaperspresentedat the 31st EBES Conference that was held on April 15–17, 2020. The conference is co-organizedbytheFacultyofEconomicSciencesattheUniversityofWarsaw, Poland. Due to the COVID-19 pandemic, the conference presentation mode has beenswitchedto“online/virtualpresentationonly.” Wearehonoredtohavereceivedtop-tierpapersfromdistinguishedscholarsfrom all over the world. We regret that we were unable to accept more papers. In the conference,98paperswerepresentedand171colleaguesfrom30countriesattended the online conference. Distinguished colleague Sascha Frohwerk from the FOM University of Applied Sciences in Berlin, Germany, joined the conference as the keynote speaker. In addition to publication opportunities in EBES journals (Eur- asianBusinessReviewandEurasianEconomicReview,whicharealsopublishedby Springer), conference participants were given the opportunity to submit their full papers for this Issue. Theoretical and empirical papers in the series cover diverse areasofbusiness,economics,andfinancefrommanydifferentcountries,providinga valuableopportunitytoresearchers,professionals,andstudentstocatchupwiththe mostrecentstudiesinadiversesetoffieldsacrossmanycountriesandregions. The aim of the EBES conferences is to bring together scientists from business, finance, and economics fields, attract original research papers, and provide them with publicationopportunities. Each issue ofthe Eurasian StudiesinBusiness and Economics covers a wide variety of topics from business and economics and pro- vides empirical results from many different countries and regions that are less investigatedintheexistingliterature.Allacceptedpapersfortheissuewentthrough apeerreviewprocessandbenefitedfromthecommentsmadeduringtheconference as well. The current issue is entitled “Eurasian Business and Economics Perspec- tives”andcoversfieldssuchashumanresourcesmanagement,management,polit- icaleconomy,publiceconomics,andregionalstudies. v vi Preface Although the papers in this issue may provide empirical results for a specific countyorregions,webelievethatthereaderswouldhaveanopportunitytocatchup with the most recent studies in a diverse set of fields across many countries and regions and empirical support for the existing literature. In addition, the findings fromthesepaperscouldbevalidforsimilareconomiesorregions. Onbehalfoftheserieseditors,volumeeditors,andEBESofficers,Iwouldliketo thankallthepresenters,participants,boardmembers,andkeynotespeakers,andwe arelookingforwardtoseeingyouattheupcomingEBESconferences. Bestregards Istanbul,Turkey EnderDemir Eurasia Business and Economics Society (EBES) EBES is a scholarly association for scholars involved in the practice and study of economics, finance, and business worldwide. EBES was founded in 2008 with the purpose of not only promoting academic research in the field of business and economics but also encouraging the intellectual development of scholars. In spite oftheterm“Eurasia,”thescopeshouldbeunderstoodinitsbroadesttermsashaving aglobalemphasis. EBES aims to bring worldwide researchers and professionals together through organizing conferences and publishing academic journals and increase economics, finance, and business knowledge through academic discussions. Any scholar or professional interested in economics, finance, and business is welcome to attend EBES conferences. Since our first conference in 2009, around 13,447 colleagues from99countrieshavejoinedourconferencesand7587academicpapershavebeen presented.EBEShasreached2,443membersfrom87countries. Since 2011, EBES has been publishing two journals. One of those journals, Eurasian Business Review—EABR, is in the fields of industrial organization, innovation, and management science, and the other one, Eurasian Economic Review—EAER, is in the fields of applied macroeconomics and finance. Both journals are published quarterly by Springer and indexed in Scopus. In addition, EAER is indexed in the Emerging Sources Citation Index (Clarivate Analytics), andEABR isindexedintheSocialScienceCitation Index(SSCI) with animpact factorof2.222asof2019. Furthermore, since 2014 Springer has started to publish a new conference pro- ceedings series (Eurasian Studies in Business and Economics) which includes selectedpapersfromtheEBESconferences.Theserieshasbeenrecentlyindexedby SCOPUS.Inaddition,the10th,11th,12th,13th,14th,15th,16th,17th,18th,19th, 20th (Vol. 2), 21st, and 24th EBES Conference Proceedings have already been accepted for inclusion in the Conference Proceedings Citation Index—Social Science&Humanities(CPCI-SSH).Otherconferenceproceedingsareinprogress. vii viii EurasiaBusinessandEconomicsSociety(EBES) We look forward to seeing you at our forthcoming conferences. We very much welcomeyourcommentsandsuggestionsinordertoimproveourfutureevents.Our successisonlypossiblewithyourvaluablefeedbackandsupport! Withmyverybestwishes, KlausF.Zimmermann President EBESExecutiveBoard KlausF.Zimmermann,UNU-MERIT&MaastrichtUniversity,TheNetherlands JonathanBatten,RMITUniversity,Australia IftekharHasan,FordhamUniversity,USA EustonQuah,NanyangTechnologicalUniversity,Singapore JohnRust,GeorgetownUniversity,USA DorotheaSchafer,GermanInstituteforEconomicResearchDIWBerlin,Germany MarcoVivarelli,UniversitàCattolicadelSacroCuore,Italy EBESAdvisoryBoard AhmetFarukAysan,HamadBinKhalifaUniversity,Qatar MichaelR.Baye,KelleySchoolofBusiness,IndianaUniversity,USA MohamedHegazy,TheAmericanUniversityinCairo,Egypt ChengHsiao,DepartmentofEconomics,UniversityofSouthernCalifornia,USA NoorAzinaIsmail,UniversityofMalaya,Malaysia IrinaIvashkovskaya,StateUniversity—HigherSchoolofEconomics,Russia ChristosKollias,UniversityofThessaly,Greece WolfgangKürsten,FriedrichSchillerUniversityJena,Germany WilliamD.Lastrapes,TerryCollegeofBusiness,UniversityofGeorgia,USA SunghoLee,UniversityofSeoul,SouthKorea JustinY.Lin,PekingUniversity,China BrianLucey,TheUniversityofDublin,Ireland Rita Martenson, School of Business, Economics and Law, Goteborg University, Sweden StevenOngena,UniversityofZurich,Switzerland PeterRangazas,IndianaUniversity–PurdueUniversityIndianapolis,USA PeterSzilagyi,CentralEuropeanUniversity,Hungary AmineTarazi,UniversityofLimoges,France RussVince,UniversityofBath,UnitedKingdom AdrianWilkinson,GriffithUniversity,Australia NaoyukiYoshino,KeioUniversity,Japan EurasiaBusinessandEconomicsSociety(EBES) ix OrganizingCommittee Klaus F. Zimmermann, PhD, UNU-MERIT & Maastricht University, The Netherlands MehmetHuseyinBilgin,PhD,IstanbulMedeniyetUniversity,Turkey HakanDanis,PhD,UnionBank,USA AlinaKlonowska,PhD,CracowUniversityofEconomics,Poland OrhunGuldiken,PhD,UniversityofArkansas,USA EnderDemir,PhD,IstanbulMedeniyetUniversity,Turkey SofiaVale,PhD,ISCTEBusinessSchool,Portugal JonathanTan,PhD,NanyangTechnologicalUniversity,Singapore UgurCan,EBES,Turkey Reviewers SagiAkron,PhD,UniversityofHaifa,Israel AhmetFarukAysan,PhD,HamadBinKhalifaUniversity,Qatar MehmetHuseyinBilgin,PhD,IstanbulMedeniyetUniversity,Turkey AndrzejCieślik,PhD,UniversityofWarsaw,Poland HakanDanis,PhD,UnionBank,USA EnderDemir,PhD,IstanbulMedeniyetUniversity,Turkey OguzErsan,PhD,KadirHasUniversity,Turkey ConradoDiegoGarcía-Gómez,PhD,UniversidaddeValladolid,Spain OrhunGuldiken,PhD,UniversityofArkansas,USA PeterHarris,PhD,NewYorkInstituteofTechnology,USA MohamedHegazy,TheAmericanUniversityinCairo,Egypt GokhanKarabulut,PhD,IstanbulUniversity,Turkey AlexanderM.Karminsky,PhD,NationalResearchUniversity,Russia ChristosKollias,PhD,UniversityofThessaly,Greece DavorLabaš,PhD,UniversityofZagreb,Croatia ChiKeungMarcoLau,PhD,UniversityofHuddersfield,UnitedKingdom VeljkoM.Mijušković,PhD,UniversityofBelgrade,Serbia GregoryLee,PhD,UniversityoftheWitwatersrand,SouthAfrica NidžaraOsmanagić-Bedenik,PhD,UniversityofZagreb,Croatia EustonQuah,PhD,NanyangTechnologicalUniversity,Singapore PeterRangazas,PhD,IndianaUniversity-PurdueUniversityIndianapolis,USA DoojinRyu,PhD,Chung-AngUniversity,SouthKorea UchennaTony-Okeke,PhD,CoventryUniversity,UnitedKingdom SofiaVale,PhD,ISCTEBusinessSchool,Portugal ManuelaTvaronavičienė,PhD,VilniusGediminasTechnicalUniversity,Lithuania MarcoVivarelli,PhD,UniversitàCattolicadelSacroCuore,Italy
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