Eurasian Economic Perspectives: Proceedings of the 26th and 27th Eurasia Business and Economics Society Conferences PDF
Preview Eurasian Economic Perspectives: Proceedings of the 26th and 27th Eurasia Business and Economics Society Conferences
Eurasian Studies in Business and Economics 14/1 Series Editors: Mehmet Huseyin Bilgin · Hakan Danis Mehmet Huseyin Bilgin Hakan Danis Ender Demir Editors Eurasian Economic Perspectives Proceedings of the 26th and 27th Eurasia Business and Economics Society Conferences Eurasian Studies in Business and Economics 14/1 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 Economic Perspectives Proceedings of the 26th and 27th Eurasia Business and Economics Society Conferences Editors MehmetHuseyinBilgin HakanDanis FacultyofPoliticalSciences MUFGUnionBank IstanbulMedeniyetUniversity SanFrancisco,CA,USA Istanbul,Turkey EnderDemir FacultyofTourism IstanbulMedeniyetUniversity Istanbul,Turkey Theauthorsofindividualpapersareresponsiblefortechnical,content,andlinguisticcorrectness. ISSN2364-5067 ISSN2364-5075 (electronic) EurasianStudiesinBusinessandEconomics ISBN978-3-030-53535-3 ISBN978-3-030-53536-0 (eBook) https://doi.org/10.1007/978-3-030-53536-0 ©TheEditor(s)(ifapplicable)andTheAuthor(s),underexclusivelicencetoSpringerNatureSwitzerland AG2020 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 Volume 1—Eurasian Economic Perspectives—of the 14th issue of the Springer’s series Eurasian Studies in Business and Economics, which is the official book series of the Eurasia Business and Economics Society (EBES, www. ebesweb.org). This issue includes selected papers from two EBES conferences, namely 26th EBES Conference—Prague and 27th EBES Conference—Bali. In the 26th EBES Conference, 238 papers by 439 colleagues were presented and in the 27th EBES Conference, 106 papers by 208 colleagues were presented. Both theo- reticalandempiricalpapersinthisvolumecoverdiverseareasofbusiness,econom- ics, and finance from many different regions. Therefore, it provides a great opportunity to colleagues, professionals, and students to catch up with the most recent studies in different fields and empirical findings on many countries and regions. Roman Mentlík from the University of Finance and Administration, Czech Republic, joined the 26th EBES Conference and Euston Quah from Nanyang TechnologicalUniversity,Singapore,andMarcoVivarellifromUniversitaCattolica del Sacro Cuore in Milano, Italy, joined the 27th EBES Conference as keynote speakers. During those two conferences, participants had many productive discus- sions and exchanges that contributed to the success of the conference where 344 papers were presented in total. In addition to publication opportunities in EBES journals (Eurasian Business Review and Eurasian Economic Review, which arealsopublishedbySpringer),conferenceparticipantsweregiventheopportunity to submit their full papers for this issue. Theoretical and empirical papers in the seriescoverdiverseareasofbusiness,economics,andfinancefrommanydifferent countries, providing a valuable opportunity to researchers, professionals, and stu- dentstocatchupwiththemostrecentstudiesinadiversesetoffieldsacrossmany countriesandregions. 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 v vi Preface provides empirical results from many different countries and regions that are less investigatedintheexistingliterature.Allacceptedpapersfortheissuewentthrough apeer-reviewprocessandbenefitedfromthecommentsmadeduringtheconference aswell.Thecurrentissuecoversfieldssuchasaccounting/audit,empiricalstudieson emergingeconomies,finance,publiceconomics,andregionalstudies. 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. 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 12,011 colleagues from99countrieshavejoinedourconferencesand6858academicpapershavebeen presented.EBEShasreached2257membersfrom87countries. Since 2011, EBES has been publishing two journals. One of those journals, Eurasian Business Review (EABR), is inthe fields of industrial organization, inno- vation, 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), and EABR isindexedintheSocialScienceCitationIndex(SSCI)withanimpactfactorof2.143 asof2018. Furthermore, since 2014 Springer has started to publish a new conference pro- ceedings series (Eurasian Studies in Business and Economics) which includes selectedpapersfromtheEBESconferences.The10th,11th,12th,13th,14th,15th, 16th,17th,18th,19th,20th(Vol.2),and24thEBESConferenceProceedingshave alreadybeenacceptedforinclusionintheConferenceProceedingsCitationIndex— SocialScience&Humanities(CPCI-SSH).Subsequentconferenceproceedingsare inprogress. 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,CentralEuropeanUniversity,Hungary JonathanBatten,UniversitiUtaraMalaysia,Malaysia IftekharHasan,FordhamUniversity,USA EustonQuah,NanyangTechnologicalUniversity,Singapore JohnRust,GeorgetownUniversity,USA DorotheaSchafer,GermanInstituteforEconomicResearchDIWBerlin,Germany MarcoVivarelli,UniversitàCattolicadelSacroCuore,Italy EBESAdvisoryBoard AhmetFarukAysan,IstanbulSehirUniversity,Turkey 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,UK AdrianWilkinson,GriffithUniversity,Australia NaoyukiYoshino,KeioUniversity,Japan EurasiaBusinessandEconomicsSociety(EBES) ix OrganizingCommittee KlausF.Zimmermann,PhD,CentralEuropeanUniversity,Hungary 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,IstanbulSehirUniversity,Turkey 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 GirayGozgor,PhD,IstanbulMedeniyetUniversity,Turkey OrhunGuldiken,PhD,UniversityofArkansas,USA PeterHarris,PhD,NewYorkInstituteofTechnology,USA MohamedHegazy,PhD,TheAmericanUniversityinCairo,Egypt GokhanKarabulut,PhD,IstanbulUniversity,Turkey ChristosKollias,PhD,UniversityofThessaly,Greece DavorLabaš,PhD,UniversityofZagreb,Croatia ChiKeungMarcoLau,PhD,UniversityofHuddersfield,UK 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,UK SofiaVale,PhD,ISCTEBusinessSchool,Portugal ManuelaTvaronavičienė,PhD,VilniusGediminasTechnicalUniversity,Lithuania MarcoVivarelli,PhD,UniversitàCattolicadelSacroCuore,Italy
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