1 International Conference on Economic and Management ...

International Conference on Economic and Management Perspectives Conference Proceedings, October 17-19, 2008, North Cyprus

1st International Conference on Economic and Management Perspectives

ICEMP’2008 October 17-19, 2008 Salamis Bay Conti Hotel, Famagusta, Turkish Republic of Northern Cyprus (TRNC), Via Mersin 10, TURKEY.

CONFERENCE PROCEEDINGS

International Economic Society © 2008 ISSN (Online): 1308-6634, ISSN (Print): 1308-6626 http://www.econ-society.org International Business and Tourism Society © 2008 ISSN (Online): 1308-6618, ISSN (Print): 1308-660X http://www.ib-ts.org

International Economic Society Press © 2008

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ICEMP’2008 Organization Honorary Chair Prof. Halil SEYIDOGLU - Dogus University, TURKEY.

Organization Committee Assoc.Prof.Dr. Salih Turan KATIRCIOGLU - Eastern Mediterranean University, TRNC. Assoc.Prof.Dr. Huseyin ARASLI - Eastern Mediterranean University, TRNC. Prof. Antonis SIMINTIRAS - University of Wales Swansea, UK. Assoc.Prof.Dr. Daniel STAVAREK - Silesian University, Karvina, CZECH REPUBLIC. Asst.Prof.Dr. Fazil GOKGOZ - Ankara University, TURKEY.

Conference Chairs Assoc.Prof.Dr. Salih Turan KATIRCIOGLU - Eastern Mediterranean University, TRNC. Assoc.Prof.Dr. Huseyin ARASLI - Eastern Mediterranean University, TRNC.

Conference Coordinator Elif SENYUCEL – International Economic Society, TRNC. Galina KHYMILYOVSKA – International Business and Tourism Society, TRNC.

Conference Advisory Committee Prof. Hasan Ali BICAK - Eastern Mediterranean University, TRNC. Prof. Oscar BROOKINS - Northeastern University, USA. Dr. Mete FERIDUN - Loughborough University, UK. Prof. Glenn P. JENKINS - Queens University, Ontario, CANADA. Assoc.Prof.Dr. Kenan LOPCU - Cukurova University, TURKEY. Prof. Halil SEYIDOGLU - Dogus University, TURKEY. Prof. Antonis SIMINTIRAS - University of Wales Swansea, UK. Prof. Fend YAO - Kagawa University, JAPAN.

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SUPPORTERS Ministry of Economics and Tourism, TURKISH REPUBLIC OF NORTHERN CYPRUS. Salamis Bay Conti Hotel, TURKISH REPUBLIC OF NORTHERN CYPRUS Deniz Plaza, TURKISH REPUBLIC OF NORTHERN CYPRUS

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PREFACE The first International Conference on Economic and Management Perspectives (ICEMP’2008) is jointly organized by International Economic Society (IES), International Business and Tourism Society (IB&TS), and Holication T.T. Consultants, which are all originated from Turkish Republic of Northern Cyprus (TRNC). This international conference has brought researchers from more than 28 countries around the world and enabled them to present and discuss new trends in the fields of economics and management. The conference was held in Salamis Bay Conti Hotel (*****) of Famagusta city in TRNC during October 17-19, 2008. As young institutions, IES and IB&TS have successfully completed this conference, which will be a traditional organization and are expected to repeat every two years. Both societies are grateful to the participants of this international conference as well as sponsors of this event. We hope that this tradition will continue and Economics and Management Perspectives Conference will be one of the respectful events in academics; therefore, we would like to thank to all academicians and organizations that made this event happen.

Elif SENYÜCEL President International Economic Society North Cyprus

Galina KHYMILYOVSKA President International Business and Tourism Society Ukraine / North Cyprus

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Table of Contents ICEMP’2008 Organization SUPPORTERS PREFACE

....................................................................................... ....................................................................................... .......................................................................................

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PROCEEDINGS OF THE ECONOMICS PERSPECTIVES SECTION

EP-01:

EP-02:

EP-03:

EP-04:

EP-05:

EP-06:

EP-07:

EP-08:

EP-09:

EP-10:

EP-11:

EP-12:

Burcu Berke The Fiscal Theory of the Price Level in European Union: Evidence from Panel Data .......

1

Valbona Gjini and Orfea Dhuci Pension Reforms in Central and Eastern Europe: The Albanian Case ................................

25

Luciana Koprencka and Sherif Bundo Real Estates Investments in Albania ....................................................................................

34

Bijan Safavi Assessing the trend of the industrial growth in the Iran`s economy: emphasizing on the role of the foreign trade ........................................................................................................

42

Ilona OZOLINA Demand and supply of loans to households in Latvia …………………………………….

56

Nitiphong Songsrirote Cost Efficiency and Management Performance on Sericulture in Roi-Et and Mahasarakham Provinces …………………………………………………………………

68

Ceyda Öztürk and Tülay Yazar Öztürk The Effect of Financial Crises on Foreign Portfolio Investments: Presenting Amos Path Diagram Model for Turkey ..................................................................................................

81

Marthinus C. Breitenbach, Tamás I. Fényes, and Shima H. Nokaneng Regional Financial Integration and the Never-ending Story of an African Dream .............

101

Taha Bahadır Saraç and Ayşegül Atabey The Relationship between Economic Growth and Unemployment in Turkey: 2002–2007

117

Fazıl GÖKGÖZ Can Asset Pricing Models Be Viable in Volatile Stock Markets? .......................................

125

Anna Golejewska Productivity Spillovers from Foreign Direct Investment in Polish Manufacturing in 1993-2006 ............................................................................................................................

142

Klaudja Guga, Etleva Leskaj, and Veronika Durmishi The Advantages Of Trade Liberalization And Of Competition Increasing ………………

154

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EP-13:

EP-14:

EP-15:

EP-16:

Rusli Ahmad, Surena Sabil, Dayang Nailul Munna, Abang Abdullah and Mohd Fatihi Faisal Maliki Key Performance Indicator and Employees Work Performance: A Case of Malaysia Public Service …………………………………………………………………………….. Rosa ADAMO, Domenica FEDERICO, Antonella NOTTE The Islamic finance: is it a model of ethical finance? .........................................................

165

176

Maylene Y. DAMOENSE and Frank W. AGBOLA Economic Analysis of the Impact of Policy Reforms on the South African Automobile Industry ……………………………………………………………………………………

193

Martin MENNER The Role of Search Frictions for Output and Inflation Dynamics: A Bayesian Assessment ...........................................................................................................................

206

PROCEEDINGS OF THE MANAGEMENT PERSPECTIVES SECTION

MP-01:

MP-02:

MP-03:

MP-04:

MP-05:

MP-06:

MP-07:

MP-08:

Zülfiye ACAR and Burcu ÖKSÜZ Corporate Social Responsibility and Stakeholder Management: The Case of the Most Admired Companies of Turkey .........................................................................................

209

Rolínek Ladislav, Stejskalová Irena, and Irena Stejskalová Managerial audit and its application in management of small and medium enterprises ..

220

Livia BACIU, Laura ASANDULUI, and Andreea-Oana IACOBUTA Compulsory Education in Romania – Priorities and Challenges ....................................

227

Aylin GÖZTAŞ, Pelin BAYTEKĐN, and Ebru B. KAMANLIOĞLU Six Sigma Approach in Business Enterprises: Schneider Electric Turkey Sample -An Assessment In Terms of Internal Organizational Communication and Corporate Culture – ...............................................................................................................................

236

Graham BUSBY and Derek SHEPHERD Disintermediation VS Reintermediation – Undergraduate Understanding of ECommerce in Tourism .......................................................................................................

254

Elhusein H.Elasfer and Azhdar Karami The Effectiveness of Selected Human Resources Management Practices on Organisational Performance and Objectives (A case study of the Libyan Iron and Steel Company) ………………………………………………………………………………

261

Liliana ELMAZI and Ermelinda KORDHA Information and Communication Technologies as An Incentive For Improving Relationships In Business To Business Markets ...............................................................

280

Etleva Leskaj, Klaudja Guga, and Veronika Durmishi Woman Role and Gender Equity in Albania .....................................................................

295

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MP-09:

MP-10:

MP-11:

MP-12:

MP-13:

MP-14:

MP-15:

MP-16:

MP-17:

MP-18:

MP-19:

Fakhraledin ABOEIYEH and Shahram SHARAFI Functional Analysis of Production Managers on Potentially Developing the Conversive Industries in Semnan Province (IRAN) 2007 …………………………………………...

303

Petra SKODAKOVA and Michal SIMON Analysis of Virtual Company Effects on Entities Involved and Its Direct Environment .

308

Hamid Reza GHASEMI New Trends in Management and Organization ................................................................

316

Andreea-Oana IACOBUŢĂ, Livia BACIU, and Laura ASANDULUI Institutional Features and Entrepreneurship Development in Romania. A Case Study on The North-East Region ………………………………………………………………

327

Vahideh MAZIDI and Mohammad Bagher GORJI Effective factors on organizational commitment of employees who work in a social organization which contribute aids to the family of war victims in Golestan state ..........

340

Hamid YEGANEH The Effects of Cultural Orientations on Preferred Compensation Policies ......................

345

Joanna KUCZEWSKA Polish Enterprises on the European Internal Market. Assessment of the competitive environment .......................................................................................................................

363

Abd Hair AWANG, Rahmah ISMAIL, and Ishak YUSOF Determinants of Workers’ Competitiveness in the Private Health Services Sector in Malaysia ............................................................................................................................

373

Murat PIÇAK Changes in Labor Force Structure in Terms of Educational Level in Turkey ..................

388

Micheal AMBERG, Markus HAUSHAHN, Micheal REINHARDT, Alexander WIDDER Trends and Potentials of Customer Value Management in the Banking and Insurance Industry .............................................................................................................................

399

Murat PIÇAK An Evaluation of Industrial Structure of South-East Anatolia Region on The Basis Of Various Indicators .............................................................................................................

405

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