International Journal of Business Management and Administration Vol. 3(1), pp. 009-021, March 2014 ISSN 2327-3100 ©2014 Academe Research Journals

Full Length Research Paper

Analysis of leadership styles in banking sector in North Cyprus: A model for banking sector in a small island economy

Ahmet Melih Karavelioğlu

Girne American University, Lefkoşa, Turkish Republic of Northern Cyprus. E-mail: ahmet.karavelioglu@iktisatbank.com.

Accepted 21 February, 2014

Abstract

The purpose of this study was to examine the leadership styles among managers at functional levels and generate a new model for the growing sector in North Cyprus’ banking sector as its setting. A total number of 85 usable questionnaires were personally retrieved from managers in the research premises. The hypothesized relationships were tested using descriptive statistics in SPSS version 16. Overall, the results reveal that managers in the North Cyprus banking sector exhibit task-oriented leadership style. Importantly, while the older managers were found to be less people-oriented leaders, on the other hand, younger managers were found to be more task-oriented leaders. Surprisingly, the female managers were found to be more task-oriented leaders in this context. This research makes useful contributions to the current knowledge base and the related industry by exclusively generating a new model for the small island economies.

Key words: North Cyprus, banking sector, leadership style, island economies.