İşletme Bölümü Koleksiyonu
Permanent URI for this collectionhttps://hdl.handle.net/20.500.11779/1937
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Book Part Citation - Scopus: 2Tokenization and Nfts: a Tokenized Income Sharing Model for Higher Education as a Potential Solution for Student Debt in the Usa(Springer Nature, 2023) Son Turan, Semen; Son-Turan, SemenThis study focuses on how to tokenize educational assets and discusses how tokenization and non-fungible tokens (NFTs) can be operationalized and adopted to the higher education landscape to provide funds for students during their higher education studies. To that end, it builds upon the income-contingent loans and higher education funding literature to propose a system that captures the value of the student’s potential future income streams as a token to be offered to higher education stakeholders willing to invest in a young person’s future, make an impact toward the Sustainable Development Goals, or simply, to diversify their portfolios and hedge against market downturns. The Future Income Token “FIT” is conceptually devised through a literature review and builds on previous findings by the author. This interdisciplinary study fits into the blockchain, crowdfunding, and higher education finance literature. Given the increasing difficulty of mobilizing funds for higher education and, the almost universal, growing student loan default problem, it asks the question: What aspects of higher education tokenomics may give higher education stakeholders the incentive to contribute to a student’s education, that other forms of financing do not? Policy makers, practitioners, as well as theoreticians can benefit from the ideas and the findings of the study. © 2023, The Author(s), under exclusive license to Springer Nature Switzerland AG.Article Citation - WoS: 51Citation - Scopus: 94Blockchain Technology and Sustainability in Supply Chains and a Closer Look at Different Industries: a Mixed Method Approach(MDPI, 2022-12-08) Güner, Elif; Ayan, Büsra; Son-Turan, SemenBackground: This study presents a comprehensive review of blockchain technology with a sustainability orientation in supply chains and logistics. Methods: The publications are extracted from the Scopus and Web of Science databases, comprising 552 publications between 2017 and 2022. Several bibliometric laws and techniques, namely three-field analysis, Bradford’s Law, Lotka’s Law, and thematic maps, are applied in R with the bibliometrix package. Content analysis is also carried out based on 185 publications to appreciate the industry-based view of the field. Results: The bibliometric results indicate that this field is on the rise. Authors, sources, affiliations, countries, keywords, and their relationships are also addressed. The findings of the content analysis and thematic maps reveal that some of the most highlighted themes in the literature include traceability, COVID-19, the internet of things, and Industry 4.0. The most popular industry in this field is discovered to be food and agriculture. Conclusions: This paper contributes to the still relatively scarce literature on how blockchain technology fosters sustainable supply chains and logistics, providing a closer look at blockchain use, methodologies, and future directions for different industries concerning food, agriculture, fashion, textile and apparel, manufacturing, automotive, maritime and shipping, healthcare and pharmaceutical, mining and mineral, and energy. © 2022 by the authors.Article Citation - WoS: 10Citation - Scopus: 27Fostering Equality in Education: the Blockchain Business Model for Higher Education (bbm-He)(MDPI, 2022-03-03) Turan, S. Semen; Son-Turan, SemenThis paper seeks to address which business model in higher education that fosters SDG 4, is adequate for the post-pandemic period. To that end, it introduces the “Blockchain Business Model for Higher Education” (BBM-HE) and a transformed business model canvas framework based on existing literature, concepts, theories and findings relating to most of the pressing issues in higher education from the present study. To determine these issues, secondary data is used in the qualitative research design by applying inductive content analysis techniques to online reports. The originality of this study lies in the “adaptive” perspective to the requirements of the post-pandemic higher education landscape, which consists of modifications to the core elements of higher education, the integration of blockchain technology into the entire system, and a stronger approach to sustainability practice through sustainability tokens. The envisaged model sets out to provide a roadmap for all stakeholders, but most importantly, “decentralized” higher education institutions of the future and the “employable skills-seeking” proactive students all over the world, as opposed to the former “solely degree-focused and affluent” consumers of educational offerings. This study contributes to higher education literature in terms of business models, blockchains, pandemics, and sustainability.Article Citation - WoS: 10Citation - Scopus: 16The Hesfs for Higher Education Funding, Employment and Sustainability(Emerald Group Publishing Ltd., 2020-05-01) Son Turan, Semen; Son-Turan, SemenPurpose: The purpose of this paper is to develop a higher education funding and employment system that obviates barriers to sustainable development and helps engrain the notion of sustainability into the institutional framework. Design/methodology/approach: The “Higher Education Sustainability First System” (HESFS) is a conceptual model that builds upon ideas from previous literature. Its theoretical basis draws on a joint value creation framework from the stakeholder theory and business model perspectives. Findings: A holistic three-pillar approach that offers multiple value propositions is needed to engage the stakeholders to collaborate for the coherent functioning of the HESFS. This will enable the establishment of a viable innovative financial model and the institution of a sustainability-focused student employment program that are facilitated by a robust sustainable infrastructure. Several sustainable development goals may be furthered in the process. Research limitations/implications: The applicability of a part or entire HESFS depends on the characteristics of the higher education institution and the level of its maturity in a sustainable development process. Although its different constituents have been empirically validated in literature, the HESFS model could be applied in a case study to determine its potential feasibility. Practical implications: The HESFS may inspire policymakers, businesses and higher education institutions to forge alliances to devise innovative resources of funding and engage in employment partnerships that can lead to progress in sustainable development. It may particularly be useful for institutions in developing and less developed countries, where inequality and high youth unemployment rates prevail. Originality/value: By focusing on an under-researched topic through a multitheoretical perspective, this study contributes to theories pertaining to stakeholder engagement and business models. © 2020, Emerald Publishing Limited.Book Part Citation - Scopus: 13The Blockchain–sustainability Nexus: Can This New Technology Enhance Social, Environmental and Economic Sustainability?(Springer International Publishing, 2019) Son Turan, Semen; Son-Turan, SemenWith the rise and fall of the prominence of Bitcoin, blockchain technology,which provides public online ledgers used for the verification and recording oftransactions, has started to become the center of attention for diverse parties in theglobal financial system. This chapter explores the nature of blockchain and discusseshow it may contribute to, or obstruct, sustainability. To this end, first, blockchaintechnology is introduced. Next, a short discussion on sustainability is presented,including how it is defined, measured, reported, and understood in theoreticalframeworks. After that, the 2015 United Nations Sustainable Development Goalsare briefly explained. This is followed by a systematic literature review, whichhighlights the scarcity of literature linking blockchain to sustainability. Finally, theauthor offers her own reflections on the potential of blockchain to revolutionize thefinancial services industry and weighs up the pros and cons vis-a-vis sustainable development.Article Citation - WoS: 35Citation - Scopus: 48Sustainability Disclosure in Higher Education: a Comparative Analysis of Reports and Websites of Public and Private Universities in Turkey(Emerald Group Publishing Ltd., 2019-11-04) Son Turan, Semen; Lambrechts, Wim; Son-Turan, SemenPurpose : The purpose of this paper is to explain the extent and content of the sustainability disclosure of public and foundation (private but not-for-profit) universities in Turkey. Design/methodology/approach : Subsequent to a systematic literature review of six academic databases and the National Thesis Center, a content analysis using a combination of Global Reporting Initiative and campus assessment tools from previous studies is conducted on stand-alone sustainability reports and websites of a purposive sample of eight universities in Turkey. Findings : Infrequent and unsystematic sustainability practice done through websites seems to be more prevalent than formal reporting through international initiatives. Research and practice diverge by focusing on different sustainability indicators. Sustainability needs to be integrated into teaching and curriculum through university policies and regulations. Foundation universities show greater effort in sustainability reporting than public universities. Research limitations/implications : The research is limited by the availability of mostly self-reported, dispersed and unaudited data by foundation universities in addition to framework-imposed specificities. Furthermore, there is only one public university with a formal sustainability report in the sample.Practical implications : The findings offer suggestions for developing extra sustainability indicators and may assist local policy-makers and researchers in their efforts to improve sustainability reporting by local universities.Originality/value : This comprehensive research effort is one of the few studies from a non-Western country perspective and the only study on Turkey in relation to universities and sustainability reporting. Keywords : Citation Son-Turan, S. and Lambrechts, W. (2019), "Sustainability disclosureBook Part Citation - WoS: 1Citation - Scopus: 3Emerging Trends in the Post-Regulatory Environment: the Importance of Instilling Trust(Springer International Publishing, 2016-12-20) Son-Turan, SemenThe financial services industry is one of the most critical pillars of economic growth and sustainable development in any country. As such, the findings of the 2016 Edelman Trust Barometer, that measures trust in institutions with more than 33,000 respondents in 28 countries over the last 15 years, are highly alarming. Accordingly, the financial services industry is ranked among the lowest with a mere 51 % on a global basis. Despite this darkened outlook, areas exist that seem to be promising: Sustainability management, responsible innovation and the organized and systemic efforts to increase transparency, comparability, accountability and reliability. Although the recent crises in financial markets have led regulators to come to a general agreement that a mutual effort is needed to develop procedures for increased compliance standards, and increase the pace of harmonization in accounting and financial reporting standards, the industry is faced with an imminent challenge: The low levels of trust in financial services. In this chapter, the author discusses how to re-build trust and reputation of the industry.Book Part Increasing Strategic Competitiveness Through Innovation: the Finance Perspective(Springer International Publishing, 2016-12-08) Son-Turan, SemenWith the start of the new millenium, marked by the disruptive power of Internet technologies, it is almost commonly acknowledged that innovative firms grow faster and perform financially better than those who fail to rapidly mobilize their social and financial capital resources to discover newer, more efficient, and ingenious ways of doing business and creating alternative sales venues. Thus, if the term innovation has come to refer to “the process of turning ideas into reality, exploiting windows of opportunities, and capturing value from them” in essence, innovation, then, can be regarded as a beneficial and intrinsically “good” phenom- enon. This is true especially for the technology and telecomunications industries according to the Thomson Reuters’ 2015 State of Innovation Report, which were ranked the most innovative industries with 30 % and 13 % of patent filings in 2014, respectively (http://www.businessinsider.com/most-innovative-industries-2015-5). Evidently though, innovation is not a win-win game for all stakeholders as laid out back in the 1930s by the Schumpeterian “creative destruction” concept portraying a “quasi-Darwinian” and rather pessimistic view of a process that serves mainly capitalistic motivations in the forms of securing monopoly profits and eventually eradicating a wide range of industries. Looking back at the past couple of decades, financial innovation has become one of the most far-reaching types of innovations, in terms of both, scope and its prolonged repurcussions. This chapter discusses the concept of financial innovation as a strategically competitive tool.Article Internet Search Volume and Stock Return Volatility: the Case of Turkish Companies(IFRD, 2014) Son-Turan, SemenThis study analyzes the relationship of the volatility of stock returns and internet search volume (ISV). The dataset consists of 10 Turkish companies listed on the BIST-100 Index of Borsa Istanbul, and encompasses the period between January 2004-September 2013. The GARCH (1,1) model is applied with two alternative mean specifications. The use of the novel exogenous variable ISV as proxy for investor sentiment is complemented through the inclusion of trading volume.Results show that as the GARCH (1,1) model becomes increasingly nested, volatility persistence declines with however no case of a vanishing G(ARCH) effect.Article The Impact of Investor Sentiment on the "leverage Effect"(Econometric Research Association, 2016) Son-Turan, SemenWith the advent of the Internet and the availability of user search query data on a broaderscale, since the early 2000s researchers have started using collective search queryinformation instead of, or, in addition to, traditional investor sentiment proxies. Thisstudy examines whether the leverage (bad news) effect, as measured by theEGARCH (1,1) model, changes with the inclusion of a newly emerging sentiment proxy,internet search volume. The sample consists of 14 US companies belonging to theNASDAQ and NYSE Indices and 501 observations of data collected at weekly frequencyspanning a nine year period. Empirical findings suggest that, inclusion of the investorsentiment variable has no clear impact on the bad news effect; there is, however, adiscernible increase in volatility persistence. The implications of the findings are that theinvestor sentiment proxy has additional informational content. Behavioral finance theoryand the availability and social proof heuristics serve as potential explanations for suchfindings.