Factors affecting firm competitiveness: Evidence from an emerging market

Artikel

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.

Object Details

• Language: Englisch

References and Relationships

• Bibliographic citation: Journal: International Journal of Financial Studies ; ISSN: 2227-7072 ; Volume: 4 ; Year: 2016 ; Issue: 2 ; Pages: 1-10 ; Basel: MDPI

Classification and Topics

• Classification: Wirtschaft ; Corporate Finance and Governance: General ; Financing Policy; Financial Risk and Risk Management; Capital and Ownership Structure; Value of Firms; Goodwill
• Subject: financial performance ; profitability ; return on assets ; gross profit margin ; Tobin's Q ; panel data ; fixed effects model ; Turkey

Contributors, Places and Time

• Event: Geistige Schöpfung
• (who): Akben-Selcuk, Elif
• Event: Veröffentlichung
• (who): MDPI
• (where): Basel
• (when): 2016

Further information

• DOI: doi:10.3390/ijfs4020009
• Handle: http://hdl.handle.net/10419/167803
• Last update: 10.03.2025, 11:42 AM CET