Çadirci, Bulent Diclehan; Tekdere, Mustafa

Politico-economic uncertainty is able to directly and indirectly affect many macroeconomic variables. In this respect, politico-economic agents are expected to act scientifically and realistically to reduce uncertainty in their statements and decisions. Otherwise, the costs of economic activities will inevitably increase due to the uncertainty phenomenon. This study analyzes the relationship the tax wedge, one of the costs of economic activities, has with politico-economic uncertainty. The study performs the analysis over 18 OECD countries during the 2000-2020 period and examines the long- and short-term relationships using the panel autoregressive distributed lagpooled mean group (ARDL-PMG) model. According to the empirical results, the study obtained homogeneous results for the countries over the long term and concluded economic policy uncertainty to have a positive effect on the tax wedge rate. However, no short-terms relationship was found between the variables. The error correction coefficient was statistically significant (between 0 and -1) in the model, and approximately 11% of the short-term imbalances were concluded to have disappeared by the next period.

Akkaya, Fatma Aldirmaz

The banking sector, which facilitates the safekeeping and distribution of resources, is very important for the development of the real economy and financial sector. This requires the strong and consistent performance of the banking sector and requires it to be capable of withstanding unexpected risks. This study aimed to firstLY establish a performance comparison between Turkish and American commercial banks which operated uninterrupted from 2008-2018 and then to present detailed financial performance analysis of the Turkish commercial banks. The CAMELS rating and performance analysis method was chosen for analysis and comparison, given its widespread use in international financial markets. As a result of both the financial performance comparison with the American commercial banks and the financial analysis of only the Turkish commercial banks, it was determined that the Turkish commercial banks, although within acceptable limits, have problems related to financial performance and have not developed sufficient defense against possible shocks. The research also revealed that the loans and receivables of the Turkish commercial banks have been at high level and it was determined that the banks have insufficiently followed these loans. If this problem is resolved, it is believed that it will reduce other issues that the banks face.

Akin, Mustafa Seref

In this article, the mathematical expansion of the share that the venture capital investors should receive to meet their expectations is shown. After the initial phase has been overcome, the entrepreneurs' acquaintances around them are insufficient in meeting the capital requirement. For this reason, founders sell some of their resources to other investors who expect a return on investment. In this sense, the support of venture capitalists is critical during the growth phase of the start-up. The most crucial dilemma here is how much financing and how many shares will be given. Due to the organizational structure of venture capital and the low success rate in start-ups, it is a costly capital. Expectation rates of investors are not much above the general market ones. The factors that make venture capital so costly are the long waiting period of 5-10 years, and the chances of start-up success being between 10-20%. As a result, the discount rates are well above 50%. Entrepreneurs are disappointed when they give too many shares for little capital. Under these circumstances, the most accurate strategy a start-up can follow is to provide as much financing as needed rather than to negotiate tightly with venture capitalists.