Next Article in Journal
Does Bilateral Market and Financial Integration Explains International Co-Movement Patterns1
Previous Article in Journal
Corporate Governance Rating and Ownership Structure in the Case of Turkey
Article Menu

Export Article

Open AccessArticle
Int. J. Financial Stud. 2016, 4(2), 9; doi:10.3390/ijfs4020009

Factors Affecting Firm Competitiveness: Evidence from an Emerging Market

Department of Business Administration, Kadir Has University, Istanbul, 34083, Turkey
Academic Editor: Nicholas Apergis
Received: 25 January 2016 / Revised: 27 April 2016 / Accepted: 5 May 2016 / Published: 9 May 2016
View Full-Text   |   Download PDF [208 KB, uploaded 9 May 2016]

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. View Full-Text
Keywords: financial performance; profitability; return on assets; gross profit margin; Tobin’s Q; panel data; fixed effects model; Turkey financial performance; profitability; return on assets; gross profit margin; Tobin’s Q; panel data; fixed effects model; Turkey
This is an open access article distributed under the Creative Commons Attribution License which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited. (CC BY 4.0).

Scifeed alert for new publications

Never miss any articles matching your research from any publisher
  • Get alerts for new papers matching your research
  • Find out the new papers from selected authors
  • Updated daily for 49'000+ journals and 6000+ publishers
  • Define your Scifeed now

SciFeed Share & Cite This Article

MDPI and ACS Style

Akben-Selcuk, E. Factors Affecting Firm Competitiveness: Evidence from an Emerging Market. Int. J. Financial Stud. 2016, 4, 9.

Show more citation formats Show less citations formats

Note that from the first issue of 2016, MDPI journals use article numbers instead of page numbers. See further details here.

Related Articles

Article Metrics

Article Access Statistics

1

Comments

[Return to top]
Int. J. Financial Stud. EISSN 2227-7072 Published by MDPI AG, Basel, Switzerland RSS E-Mail Table of Contents Alert
Back to Top