Akben Selçuk, Elif2019-06-272019-06-272016302227-70722227-7072https://hdl.handle.net/20.500.12469/465https://doi.org/10.3390/ijfs4020009The 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.eninfo:eu-repo/semantics/openAccessFinancial PerformanceProfitabilityReturn on AssetsGross Profit MarginTobin's QPanel DataFixed Effects ModelTurkeyG30G32Article24WOS:00038025450000310.3390/ijfs40200092-s2.0-85111325764N/AQ2