Financial Environment and Business Development Proceedings of the 16

This volume focuses on the latest findings concerning financial environment research and the effects on business. Major topics addressed range from finance-driven globalization, contagion risk transmission, financial sustainability, and bank efficiency, t

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Mehmet Huseyin Bilgin Hakan Danis Ender Demir Ugur Can Editors

Financial Environment and Business Development Proceedings of the 16th Eurasia Business and Economics Society Conference

Eurasian Studies in Business and Economics 4

Series editors Mehmet Huseyin Bilgin, Istanbul, Turkey Hakan Danis, San Francisco, CA, USA Representing Eurasia Business and Economics Society

More information about this series at http://www.springer.com/series/13544

Mehmet Huseyin Bilgin • Hakan Danis • Ender Demir • Ugur Can Editors

Financial Environment and Business Development Proceedings of the 16th Eurasia Business and Economics Society Conference

Editors Mehmet Huseyin Bilgin Faculty of Political Sciences Istanbul Medeniyet University Istanbul, Turkey Ender Demir Faculty of Tourism Istanbul Medeniyet University Istanbul, Turkey

Hakan Danis MUFG Union Bank San Francisco, California USA Ugur Can Eurasia Business and Economic Society Fatih Istanbul, Turkey

ISSN 2364-5067 ISSN 2364-5075 (electronic) Eurasian Studies in Business and Economics ISBN 978-3-319-39918-8 ISBN 978-3-319-39919-5 (eBook) DOI 10.1007/978-3-319-39919-5 Library of Congress Control Number: 2016944611 © Springer International Publishing Switzerland 2017 This work is subject to copyright. All rights are reserved by the Publisher, whether the whole or part of the material is concerned, specifically the rights of translation, reprinting, reuse of 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 similar or dissimilar methodology now known or hereafter developed. The use of general descriptive names, registered names, trademarks, service marks, etc. in this publication does not imply, even in the absence of a specific statement, that such names are exempt from the relevant protective laws and regulations and therefore free for general use. The publisher, the authors and the editors are safe to assume that the advice and information in this book are believed to be true and accurate at the date of publication. Neither the publisher nor the authors or the editors give a warranty, express or implied, with respect to the material contained herein or for any errors or omissions that may have been made. Printed on acid-free paper This Springer imprint is published by Springer Nature The registered company is Springer International Publishing AG Switzerland

Preface

This is the fourth 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 presented at the 16th EBES Conference that was held on held on May 27–29, 2015, at Bahcesehir University in Istanbul, Turkey, with the support of the Central Bank of the Republic of Turkey and Istanbul Economic Research Association. All accepted papers for the issue went through peer-review process and benefited from the comments