Browsing by Subject "Industrial policy--Turkey."

Now showing 1 - 4 of 4

Open Access
Capital structure determinants of Turkish SMEs in manufacturing industry
(2011) Cakova, Uğur
This thesis investigates the determinants of capital structure of small and medium sized enterprises (SMEs) from manufacturing sector in Turkey. Hypotheses about leverage decisions and debt maturity choices of firms are formulated based on the capital structure theories, mainly trade-off theory and pecking order theory. These hypotheses are tested using fixed effects model with unbalanced panel data set of 44,029 firm-year observations over the period between 1998 and 2008. I find that capital structure decisions of Turkish SMEs are in line with pecking order predictions. The results indicate that larger firms have higher leverage ratios; SMEs use their tangible assets to obtain long term debt; profits are used to decrease debt levels, particularly short term debt; firms with high growth opportunities prefer to finance their future growth with long term debt; rapidly growing firms use more short term debt to finance their growth. In general, SMEs are found to decrease their leverage ratio during the periods of economic growth. Lastly, although small and medium sized firms have significantly different debt ratios over the sample period, results are homogenous across both individual samples of small firms and medium firms.
Open Access
Export performance of Turkey in the European Union market in comparison to South East Asian countries: (1990-1997)
(2000) Kotan, Zelal
Turkish exporters often complain that they cannot maintain a competitive price advantage over South East Asian exporters in world markets. This thesis aims to investigate if relative geographical proximity o f Turkey to the EU market provides a compensating advantage for Turkish exporters selling to this market. In this framework, the study attempts to measure the degree of price competitiveness stemming from the relative proximity of exporters. For this purpose, export similarities between SEAs and Turkey are determined first. The importance of competitiveness on the overall export performance of each exporter is identified by using the Constant Market Share Analysis and then, the degree o f price effect on the competitiveness is found by estimating twostage homothetic demand functions. The proximity advantage o f Turkish exporters relative to SEA exporters is identified by analyzing the difference between CIF import and FOB export prices. The results indicate that Turkey has a price advantage relative to SEA countries in the product group that exhibits the highest degree of export pattern similarity to those countries.
Open Access
Export-led growth: NIC performance and the Turkish experience
(1993) Coşar, Fatma
Open Access
Modelling the relationship between productivity, employment and wages in Turkish small and medium sized enterprises,1981-1998
(2001) Demirel, Görkemli
This thesis analyzes the empirical relationship between wages and productivity as well as the relationship between wages and employment in Turkish manufacturing industry. Unlike the previous studies done for manufacturing industry, in this study the size definitions of manufacturing industry, sectoral distribution and the sectoral division between public and private sector are considered. In the empirical part of the thesis, first wage and productivity and wage and employment relationships are estimated by using OLS method. After finding out both wage-productivity and wage-employment relationships are significant, descriptive growth rate comparisons are made for the period of 1981-1998. The main conclusion that emerges from both analyses is that relationship between variables of interest is valid. Wages, productivity and employment relationship have important policy implications regarding especially on Turkish small and medium sized enterprises.