This paper investigates how institutional investors affect capital structures of Borsa Istanbul (BIST) firms. Data is gathered for the period between 2005 and 2013 for 150 firms. Prior years are not taken into consideration in order not to distort the data since inflationary accounting practices were applied in the market before 2005. Data is obtained from Bloomberg database and Central Registry Agency. Sample consists of 150 non-financial firms which have full data set for the research period. Panel data analysis is used to analyze 1,350 firm-year observations. Data is investigated for the relation between institutional ownership and financial leverage. The model has been designed such that financial leverage is dependent variable, and institutional ownership is explanatory variable. Control variables such as tangibility, size, tax, profit, liquidity and market value / book value have also been employed in the model. The result of the model shows that there is a significantly negative relationship between institutional ownership and financial leverage. Keywords

The purpose of this study was to examine the integration of indigenous values developed in Turkey to Schwartz’s universal values. Students (N = 593) from six universities in Istanbul responded the value scale, which consists of 10 etic PVQ items (each item representing one of 10 main Schwartz values) and 23 emic WAG items (representing work-achievement goals). PROXSCAL, a multidimensional scaling method, was used to test whether etic and emic sets of values integrate and form the universal circular structure proposed in Schwartz value theory. The motivational continuum of values as a circular structure was similar to pan-cultural results, but adding another value type to the openness to change pole. While some of the items in this region represent autonomy of thought, remaining items diverge. The principle of conflicting values on opposite poles was not supported in relation to openness to change-conservation dimension. These two poles had similar priorities, contrasting with pan-cultural results, and demonstrating a culture-specific aspect of responding to motivational goals. Insights gained by emic studies will be functional in enriching understanding values, and contributing to the comprehensiveness and universality of Schwartz value theory.

While neglecting the importance of technological intensity, most of the prior studies documented the positive contribution of intellectual capital (IC) to corporate financial performance. This study aims at analyzing the relation between IC and corporate financial performance addressing the technological intensity in different sectors from 17 emerging countries. The impact of IC, which is measured by Value Added Intellectual Coefficient (VAIC) and its components; Capital Employed Efficiency (CEE), Human Capital Efficiency (HCE), and Structural Capital Efficiency (SCE), on corporate financial performance will be evaluated using panel data analysis for the period between 2009-2019. Accordingly, IC and its components are found to be significant drivers of financial performance being higher for sectors that are more technology intensive. Moreover, human and physical capital are the main components, which boost finance performance for all groups irrespective of technological intensity in the emerging market context.

ABSTRACT

the performance of BLADE is superior to routine T2W images in eliminating motion artifacts, provides better SNRs, shows detailed pectoral muscle contours, and may be the sequence of choice.