JOURNAL OF LIFE ECONOMICS <p style="text-align: justify;"><em>Journal of Life Economics&nbsp;<strong>(E-ISSN: 2148-4139 &amp; DOI Prefix:&nbsp;10.15607)</strong></em>&nbsp;is&nbsp;<strong>an&nbsp;international peer-reviewed&nbsp;</strong>and<strong>&nbsp;periodical journal.</strong><em>&nbsp;</em>It aims to create a forum on economic rationale of life. It brings together the views and studies&nbsp;of academicians, researchers and professionals working in all branches of social sciences, especially economics.&nbsp;The articles in the Journal is published in 4 times a year;&nbsp;&nbsp;WINTER&nbsp;(January),&nbsp; SPRING (April), SUMMER (July)&nbsp;and&nbsp;AUTUMN&nbsp;(October).&nbsp;</p> en-US <p><em>When the&nbsp; article is accepted for publication in the </em><em>Journal of Life Economics</em><em>, authors transfer all copyright in the article to the </em><em>Rating Academy </em><em>Ar-Ge Yazılım Yayıncılık Eğitim Danışmanlık ve Organizasyon Ticaret Ltd. Şti</em><em>.</em><em>The authors reserve all proprietary right other than copyright, such as patent rights.&nbsp;</em></p> <p><em>Everyone who is listed as an author in this article should have made a substantial, direct, intellectual contribution to the work and</em><em> should take public responsibility for it.</em></p> <p><em>Th</em><em>is paper contains works that have </em><em>not previously published or not under consideration for publication in other journals. </em></p> (Özge UYSAL ŞAHİN) (cumali yaşar) Wed, 06 Feb 2019 13:02:42 +0300 OJS 60 ASYMMETRIC PANEL CAUSALITY TEST WITH AN APPLICATION TO THE IMPACT OF CLIMATE CHANGE ON FINANCIAL RISK <p style="text-align: justify;"><em>Climate change which caused to dramatic economic impact is a key issue for the world in the 21st century. Using data for Portugal, Ireland, Italy and Spain (PIIGS) countries over the years 1990-2009, this study investigates the causal relationship from climate change to financial risk/stability via Hatemi-J asymmetric causality test that separates positive and negative shocks in analysis. As a result of this study, both positive and negative shocks existed for Ireland, causality from climate change to financial risk emerged for Spain in only negative shocks. In addition, the results showed that a positive shock in climate change cause a negative shock in financial stability. In the cases of Greece and Portugal none of the causal relationships cannot be proved.</em></p> Ünzüle KURT, Feyza BALAN ##submission.copyrightStatement## Mon, 04 Feb 2019 00:00:00 +0300 EVALUATING THE LABOR’S PRODUCTIVITY: DISCIPLINE, WORK PASSION AND WORK ACHIEVEMENT <p style="text-align: justify;"><em>Duties and responsibilities must be accompanied by discipline, work passion and work achievement, where productivity at work is measurable and can </em><em>potentially boost </em><em>the company</em><em>’s</em><em> profitabil</em><em>i</em><em>ty in the future. The aim of this research is to investigate the influence of discipline, work passion and work achievement on labor</em><em>’s</em><em> productivity in the City of Medan. The results of the research found that the variables of discipline and work passion </em><em>failed </em><em>to show an optimal result whereas the variables of work achievement and labor</em><em>’s</em><em> productivity show an optimal result. The analysis on discipline partially does not provide positive and significant influence on labor’s productivity at the company but causes the loss for the company. The analysis on work passion partially does not provide positive and significant influence on work productivity at the company but causes the loss for the company. An analysis on work achievement partially provides positive and significant influence on work productivity in the company and causes an advantage for a company when workers show good work achievement, by which 45.7% of work achievement is very expected. The analysis of independent variables of discipline, work passion, and work achievement </em><em>discovered </em><em>simultaneous influence on labor</em><em>’s productivity</em><em>.</em></p> Anak Agung Ngurah Gede Sadiartha, Sunday Ade SITORUS ##submission.copyrightStatement## Mon, 04 Feb 2019 00:00:00 +0300 THE IMPACT OF CAPITAL FLOWS ON CURRENT ACCOUNT DEFICIT FOR TURKEY <p style="text-align: justify;"><em>The impact of capital flows on macroeconomic variables is widely studied in applied literature. In this context, this paper aims to analyze the impact of short-term capital flows and foreign direct investment on current account deficit for Turkey by using quarterly data for the time period 1998-2015. We find out a positive and significant relationship between capital flows and current account deficit and negative insignificant relationship between capital flows and foreign direct investment. We use vector autoregression (VAR) model and impulse responses to analyze dynamics between variables.</em></p> Nebile KORUCU GÜMÜŞOĞLU, Sinan ALÇIN ##submission.copyrightStatement## Mon, 04 Feb 2019 00:00:00 +0300 INVESTIGATING THE PERSPECTIVE OF LOCAL PEOPLE TOWARDS WOMEN TOURISTS IN THE CONTEXT OF GENDER ROLES EQUALITY AND LIFE <p style="text-align: justify;"><em>In this research, it was aimed to examine what is the perspective of local people towards women tourists travelling alone in the context of gender roles equality and life values. Population of the research consists of the local people living in Gokceada between February and April 2018. Data was collected by the researcher face to face implementation questionnaire. In the context of research, 195 valid questionnaire obtained from the local people. Independent Sample T-Test, Chi-Square Test, Exploratory Factor Analysis and Correlation Analysis were used in the analysis of the data obtained from the research. As a result of the research, it was determined that the local people living in Gokceada have an egalitarian perspective and it was found significant differences between the gender role equity score, the scores of freedom and equality values and the perspective of local people towards women tourists travelling alone. In this research, it was also found statistically significant correlation between the gender equity score and the scores of harmony, benevolence, freedom and equality values.</em></p> Müesser KORKMAZ, Ferah ÖZKÖK, Şeref ULUOCAK ##submission.copyrightStatement## Mon, 04 Feb 2019 00:00:00 +0300 AN EXAMPLE FOR LABOUR RELATIONS IN THE AUTOMOTIVE INDUSTRY <p style="text-align: justify;"><em>In this study, working conditions of workers and the results of a field study to identify the position within labor relations will be discussed. This study was conducted in Turkey at the factory owned by a multinational &nbsp;company operating in the automotive industry. </em></p> <p style="text-align: justify;"><em>During the in-depth interview process, which lasted six months with 181 workers in the factory, surveys and open-ended questions were asked to the workers. Their employment time (seniority), their gender and their responses to the questionnaire were compared.</em></p> <p style="text-align: justify;"><em>In the research process, 7.2 percent (13 people) of the workers who participated in the interview has an associate degree or above, 32 percent (58 persons) have a </em><a href=""><em>general high school</em></a><em> degree, 59.7 percent (108 persons) are from industrial vocational high school, 1,1 percent (2 people) graduated from primary school. The sample consisted of 22 women and 159 men. The work was carried out in press-mold, welding, assembly and paint shop lines.</em></p> <p style="text-align: justify;"><em>In this paper will discuss the results of the survey: &nbsp;“Is the quality of the worker appropriate to the nature of the work?”, “Is there a relationship between gender and the nature of work?”, “What are the determinants of employee satisfaction from working conditions?”, “Does adaptation to work decrease as technical knowledge and qualification increase?”</em></p> Özlen ÇETİN ##submission.copyrightStatement## Mon, 04 Feb 2019 00:00:00 +0300 EXCHANGE RATE RISK AND AN EVALUATION IN TERMS OF TURKEY ECONOMY <p><em>Küreselleşmeyle birlikte, ülkelerin ekonomik ilişkilerinin temel belirleyicilerinden biri olan döviz kuru ithalatı artmıştır. Özellikle Bretton Woods sisteminin çöküşünden sonra piyasalar özgürleşti ve ülkeler birbirlerine yakınlaştılar.Herhangi bir ticaret ülkesinde istikrarsızlık diğer ülkeleri olumsuz etkileyecek olduğundan, döviz kuru belirsizlik çok önemlidir.Kur riskinin belirlenmesinde kullanılacak stratejileri belirlemek ve kur riskini ortadan kaldırmak veya en aza indirmek için bu durumu en iyi şekilde yönetmek gerekmektedir.Şirketler açısından, döviz kuru riskinin ölçülmesi ve doğru yönetilmesi, şirketlerin ve ülkelerin zayıflıklarının belirlenmesi ve bunların ortadan kaldırılması açısından çok önemlidir.Bu çalışmanın amacı, Türkiye için Kur riskinin değerlendirilmesi ve kur riskine karşı alınacak önlemlerin belirlenmesidir.</em></p> Yağmur AKARSU, Nur DİLBAZ ALACAHAN ##submission.copyrightStatement## Mon, 04 Feb 2019 00:00:00 +0300 SUKUK AS ONE THE ISLAMIC FINANCIAL INSTRUMENTES: INVESTIGATION OF THE MURABAHAH CONTRACTS IN THE HYBRID SUKUK IN TERMS OF COMPLIANCE WITH THE ISLAMIC PROVISION <p style="text-align: justify;"><em>Sukuk is an interest-free Capital market tool developed for use in Islamic finance. Sukuk is an Islamic compliant certificate, which is developed as an alternative to traditional bonds and which is based on asset-based securities with different characteristics from bond-based securities and revenue-share certificates, which are traditional financial market instruments by structure. It is seen that sukuk certificates resemble bonds in order to provide the financing required by the investor. However, while bonds are indebted to the structure while investors offer interest income, sukuk is not a debt instrument, but should be based on an asset and its investor, not a fixed interest income, but right to benefit from the income from the underlying asset. Sukuk, on the other hand, is also different from the company shares that give the company the right to partnership and management. Although the sukuk may grant the right of ownership to the holders of the underlying rights subject to sukuk, this right of ownership has a limited rights structure that does not contain any management exc. rights on the underlying assets.</em><br><em>In this study, firstly, types of sukuk and its importance are mentioned and the differences between the traditional financial market instruments are revealed. Then, it is mentioned about the issue sukuk and types of issues in the World and Turkey.</em><br><em>Purpose of the study; one of the types of sukuk, and both in the World and in our country is issued with large numbers of hybrid sukuk which is including in murabahah sukuk are examined the direction of conformity to Islam. In this study, it was found that there was no consistent legal basis for the use of murabahah in the hybrid sukuk and the fact that it was/was not suitable for Islam in the secondary markets.</em><br><em>According to this, an important financial source hybrid sukuk based asset pool in the secondary markets will be experienced in the process of trading problems should not be placed in murabahah contracts. Murabahah sukuk should be issued separately and these murabahah certificates should not be traded in the secondary markets.</em><br><em>As a result; The insertion of murabahah contracts into hybrid sukuk is not appropriate as it will create a ban on trading in the secondary markets. The fact that all parties, especially Islamıc Banking activities are more sensitive about this issue is very important for the future of Islamic financial market.</em></p> İsabet Ebru YAZICIOĞLU, Hasan KAZAK ##submission.copyrightStatement## Mon, 04 Feb 2019 00:00:00 +0300