CORONALOGY: Multidisciplinary Academic Analysis in Perspective of Covid-19

Sefer Darıcı, Ayşe Meriç Yazıcı, Sefer Darıcı, Ayşe Meriç Yazıcı

• Publisher: Sciendo
• Year: 2020
• Print ISBN:
  9788366675155
• eBook ISBN:
  9788366675179
• Topic: Business
• Subtopic: Business General
• Index: Business

The book aims to contribute to the new paradigm of sense-able covid-19 from and analytical perspective of different disciplines, to define and relate that kinds of multi disciplines able to provide users with relation of contextual services, to relate and analyse their dynamics and to react accordingly, in a seamless exchange of information during pandemic terms. In this context the book's main aim is to understand the complexities of society's pandemic beginning from information that is theoretically accessible from various viewpoints, through a multidisciplinary approach and in multiple contexts, both indoors and outdoors. In addition, the book will be examined in COVID-19 and later changes and transformations.

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CORONALOGY:

Multidisciplinary Academic

Analysis in Perspective of

Covid-19

Edited by

Sefer DARICI

Ayşe Meriç YAZICI

FOREWORD

In the aftermath of the pandemic crisis, people sought new answers.

The complexity of the situation encountered brought new questions along

with anxiety and fear. In a very short time, the world faced big changes.

Looking ahead, what are individuals, companies, supply chains,

technology, communication, individual relationships, and sustainability going to look like? What's it going to take for this new system to succeed?

Which challenges are there to come?

There are quite important questions in these hard days that need to be

answered. In this book, experts in their field tried to answer these questions. The chapters of this book, each containing valuable research,

convey useful information from each other. It also seeks answers to questions in our minds regarding the uncertainty of the future.

The book aims to contribute to the new paradigm of sense-able COVID-19 from an analytical perspective of different disciplines, to define

and relate that kinds of multi-disciplines are able to provide users with the

relation of contextual services, to relate and analyze their dynamics and to

react accordingly, in a seamless exchange of information during pandemic

terms.

In this context, this book's main aim is to understand the complexities

of society's pandemic beginning from information that is theoretically accessible from various viewpoints, through a multidisciplinary approach

and in multiple contexts, both indoors and outdoors. Also, this book examined what will be changes and transformations after COVID-19 too.

Sefer DARICI

Ayşe Meriç YAZICI

EDITORIAL STAFF

Assist. Prof. Murat Adil SALEPÇİOĞLU- IAU Corporate Governance and

Sustainability Application and Research Center Manager

[email protected]

GRAPHIC DESIGN

İsmail Cemre DAĞLI

[email protected]

CONTENTS

Foreword

Sefer DARICI

Ayşe Meriç YAZICI

CHAPTER 1. Change and Transformation in the

Financial System and Institutions After

the Pandemic.................................1

Serhat YANIK

CHAPTER 2. The Future and Sustainability of

Financial Markets after the Covid-19

Crisis............................................25

Cüneyd Ebrar LEVENT

CHAPTER 3. Post-COVID-19: The Great Reset and

Senism..........................................55

Erdal ŞEN

CHAPTER 4. Macroeconomic Results of the Effects of

Covid-19 Pandemic on the Supply

Chain............................................78

Erdem BAĞCI

CHAPTER 5. The Prevention Paradox of the COVID-

19 Crisis in Germany. Science

Communication in Times of

Uncertainties...............................99

Lutz PESCHKE

CHAPTER 6. Hybrid-Covid Process Management: The

New Economy and Sustainable Network

Organization Approach - A New Model

Design...........................................128

Murat Adil SALEPÇİOĞLU

Turgay CEYHAN

CHAPTER 7. Developments in Cost Systems During

the Industrial Revolutions and Cost

Calculation at Smart Factories..168

Mustafa ÇANAKÇIOĞLU

CHAPTER 8. The Role of Nanotechnology for

Antimicrobial Agents................198

Figen ÖZYILDIZ

Elif Alyamaç SEYDİBEYOĞLU

M.Özgür SEYDİBEYOĞLU

CHAPTER 9. A Comparative Study of Privacy

Policies and Data Protection During the

COVID-19 Pandemic Within Different

Countries.....................................216

Seldağ Güneş PESCHKE

Ömer Fatih SAYAN

CHAPTER 10. The Impacts of Outbreaks on External

Trade and Macroeconomic Structure:

The Case of Covid-19 Pandemic in

Turkey..........................................229

Ali Osman BALKANLI

CHAPTER 11. An Alternative Method of Growth for

Turkish Companies: A Discussion over

the Defense Industry...................253

Tuncay Turan TURABOĞLU

CHAPTER 1

Change and Transformation in the Financial

System and Institutions After the Pandemic

Serhat Yanık

{[email protected]}

Professor, Istanbul University, Faculty of Political Sciences, Department of

Business Administration, Istanbul/Turkey

Abstract

In recent years, rapid changes in technology have led to significant destructive

and creative effects in the economy, business life and social life. Issues such as the development of financial technologies, digitalization, blockchain, cryptocurrencies, the use of artificial intelligence have started to change the entire economy and

financial processes. In addition, the COVID-19 pandemic that has made us face a

crisis that reshaped all our life habits, changing the economies and the business models, has brought these changes in another phase. In the foreseeable future, it is observed that fintech ecosystem will be exposed to serious structural changes and lead to development of new business models. In the current study, financial institutions and markets before the pandemic and financial transformation after the pandemic are comparatively examined. Also, new financial concepts and regulations such as fintech, regtech, cryptocurrencies, artificial intelligence, blockchain, and their roles in the financial markets are explained.

Keywords:

Covid-19 Pandemic, digitalization, fintech, regtech,

cryptocurrency, blockchain.

Introduction

The world has always been in a constant state of change. People have

been pressed to make a major choice between being part of or resisting to

change. They have often tended to take the easier path in a disillusion that

they can prevent change rather than taking the challenging course of changing. In the past, such changes have gone beyond the lifetime of an

individual. A good example may be electricity. It took many years after its

1

invention to ensure that it is widely used. However, the digital transformation of the last 20 years marks a magnitude of change which

would span thousands of years in the past. It is safe to say that this is just

the beginning and there is so much more to come.

The technology shift of the recent years had a destructive and creative

impact on economy, business life, social life and everything else. This impact had its toll also on the finance industry, even in the form of reshaping it. The industry as a whole as well as the economy and financial

processes were affected by the developments in financial technologies, blockchain applications, cryptocurrencies and artificial intelligence. These

developments of the past few decades have a major impact on the finance

industry and the Covid-19 pandemic carried the change to another level as

of the end of 2019. As a result of the pandemic, certain new practices were

introduced and accepted by the business community and the people. This

resulted with certain positive outcomes but also highlighted certain structural problems in the financial and political system. This paper focuses

on the change and transformation in the financial systems and institutions

triggered by the pandemic as well as possible trends in the future.

Defining the Future: Before the Pandemic and Financial

Transformation

With the financial crises in recent years, there has been huge changes in

the financial system, institutions, tools and markets. After 2000, we experienced more connections between national economies and industries,

macroeconomic instabilities and a process of globalization which resulted

with more competition in the local and global markets. The finance industry had a major role in these developments. The major areas affected

by the transportation include the organization of financial institutions, operating mechanisms of financial markets, new financial tools and financial technologies (Fintech)...

Table of contents

• Introduction
• Defining the Future: Before the Pandemic and Financial Transformation
• Introduction
• The COVID-19 pandemic, which has already infected almost 10.005,970 people in 188 countries, resulting in more than 500,000 deaths, has the potential to reach a large proportion of the global population (Johns Hopkins University Center for Systems, 2020). This grave picture of the pandemic is expected to continue. Especially the second wave expectation is increasing day by day. This will lead to deepening of macroeconomic problems. The effect of the COVID-19 outbreak on countries' economies emerges in many dimensions, one of which is the disruption of the supply chain. As a result of commercial globalization, the production structures of countries are articulated. Production processes are also disrupted as transportation and commercial activities between countries decrease due to the pandemic. With the COVID-19 pandemic embracing the entire world, countries began to take measures to keep households in their homes, one after the other, so that their health systems would not collapse. In addition, country borders were closed for free travel. Thus, the global economy began to suffer seriously. Naturally, the supply chain of the sectors that produce depending on the imported input was also negatively affected.
• The 1800s are years that mankind has begun to make more research and knowledge as compared to previous centuries. In this period, at the end of the century, (1889-1892) humanity faced an influenza pandemic (Park and Williams, 1919:45). This situation urged researchers to investigate and understand the microorganisms. Humanity faced other diseases (SARS, cholera, tuberculosis, plague, smallpox, dengue, AIDS, influenza) but they were more regional, not worldwide. But pandemic illnesses are worldwide. In the literature, although the 1918 pandemic is called the Spanish epidemic, mainly the Spanish people say that the epidemic came from the battlefields from the Alps and Pyrenees (from France) to Italy and Spain during the war. Here, Spain's problem was that when the disease started, many countries hid it from the world and said that it was Spaniards’ disease with 8 million deaths (in May and June) (Crosby, 2003: 26).
• The 1918 pandemic and the 1890 pandemic's emergence and development consisted of 3 stages (Royen and Rhodes, 1948: 567). In the Spanish flu, the disease appeared in the form of headache and fever and runny nose and cough, hoarseness in the first stage (first wave), and later triggered diseases such as the pharynx, larynx, trachea and conjunctivitis. These are the effects (most prominent) in the first wave of the virus. While the virus was evolving, it caused more pneumonia (20%) and deaths in the 2nd and 3rd waves. However, the first wave remained as rare events. The 2nd and 3rd waves (80 percent of influenza cases for France are in the 2nd wave) first started in autumn 1918 (September) and appeared in the third wave in the spring of 1919. The disease started mildly in the second wave, then turned into pneumonia. “The remaining 20 per cent, however, suffered from pneumonia and nearly half died“ (Royen and Rhodes, 1948: 562).