Factors Affecting Firm Competitiveness: Evidence from an Emerging Market

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Date

2016

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MDPI

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Abstract

The objective of this study is to investigate the factors affecting firm competitiveness in an emerging marketTurkey. 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.

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Financial Performance, Profitability, Return on Assets, Gross Profit Margin, Tobin's Q, Panel Data, Fixed Effects Model, Turkey, G30, G32

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30

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N/A

Scopus Q

Q2

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Volume

4

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2

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