Factors Affecting Firm Competitiveness: Evidence from an Emerging Market
Loading...
Date
2016
Authors
Journal Title
Journal ISSN
Volume Title
Publisher
MDPI
Open Access Color
OpenAIRE Downloads
OpenAIRE Views
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.
Description
Keywords
Financial Performance, Profitability, Return on Assets, Gross Profit Margin, Tobin's Q, Panel Data, Fixed Effects Model, Turkey, G30, G32
Turkish CoHE Thesis Center URL
Fields of Science
Citation
30
WoS Q
N/A
Scopus Q
Q2
Source
Volume
4
Issue
2