Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/167803
Authors: 
Akben-Selcuk, Elif
Year of Publication: 
2016
Citation: 
[Journal:] International Journal of Financial Studies [ISSN:] 2227-7072 [Volume:] 4 [Year:] 2016 [Issue:] 2 [Pages:] 1-10
Abstract: 
The objective of this study is to investigate the factors affecting firm competitiveness in an emerging market-Turkey. In the paper, competitiveness is proxied by a firm's financial performance. The empirical analysis is based on firms listed on Borsa Istanbul and covers the period between 2005 and 2014. Results from a firm-level panel data model indicate that return on assets is positively related to firm size, international sales, liquidity and growth, and negatively related to leverage and R&D expenditures. On the other hand, gross profit margin is positively related to size and international sales, and negatively related to leverage and R&D expenditures. Finally, results show that Tobin's Q ratio is higher for firms with higher levels of debt and higher liquidity levels.
Subjects: 
financial performance
profitability
return on assets
gross profit margin
Tobin's Q
panel data
fixed effects model
Turkey
JEL: 
G30
G32
Persistent Identifier of the first edition: 
Creative Commons License: 
http://creativecommons.org/licenses/by/4.0/
Document Type: 
Article

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