You are here

A Research on the Performance and Characteristics of the Firms in Turkish Manufacturing Industry

Journal Name:

Publication Year:

DOI: 
https://doi.org/10.17015/ejbe.2016.017.05
Abstract (2. Language): 
This study aims to determine the factors affecting the performance of companies operating in the Turkish manufacturing industry. The sample of the study consists of 25394 firms which have been active in Turkish manufacturing industry between the years 2005 and 2011. Heckman sample selection model is used for the assessment of the growth and survival probabilities of the firms. According to the research model, it was found that the factors affecting firm performance are firm and industry based factors. It is concluded that Innovation, R&D, export and branch variables have positive significant effects on the performance of the manufacturing industry firms.
67
86

JEL Codes:

REFERENCES

References: 

Agarwal, R., & Audretsch, D.B. (2001). Does Start-up Size Matter?: The Impact of the Life
Cycleand Technology on FirmSurvival. (Faculty WorkingPapers No.9808). University of
Central Florida, College of Business and Administration.
Almus, M., & Nerlinger, E.A. (2000). Testing “Gibrat’s Law” for Young firms – Empirical
Results for West Germany. Small Business Economics, 15, 1-12.
Audretsch, D.B., & Mahmood T. (1995). New Firm Survival: New Result Using Hazard
Function. Review of Economics and Statistics, 77, 97- 103.
Audretsch D.B., Santarelli, E., & Vivarelli, M. (1999). Start-up Size and Industrial Dynamics:
Some Evidence from Italian Manufacturing. International Journal of Industrial Organization,
17, 965-983.
Arisoy, I. (2008). Türkiye’de Sanayi Sektörü - İktisadi Büyüme İlişkisinin Kaldor Hipotezi
Çerçevesinde Test Edilmesi. (Discussion Paper of Turkish Economic Association 2008/1).
Retrieved from (http://www.tek.org.tr).
Aw, B.Y., Chung, S., & Roberts, M. J. (1998). Productivity andthedecisiontoexport:
microevidencefromTaiwan and South Korea. (NBER Working paper no. 6558). Cambridge,
MA: NationalBureau of Economic Research.
Baldwin, J.R., & Johnson, J. (1996), Business Strategies in More and Less-Innovative Firms in
Canada. Research Policy, 25(5), 785-804.
Baptista, R., & Karaȍz, M. (2006). Turbulence in Entry and Exit Along the Product Life Cycle.
The HEWPEM Conference, Patras, Greece.
Barney, J. (1995). Looking Inside for Competitive Advantage. Academy of Management
Executive, 9, 49-61.
Bayyurt, N., & Duzu, G. (2008). Performance Measurement of Turkish and Chinese
Manufacturing Firms: A Comperative Analysis. Eurasian Journal of Business and Economics,
1(2), 71-83.
Becheikh, N., Landry, R., & Amara, N. (2006). Lessons from Innovation Empirical Studies in
the Manufacturing Sector: A Systematic Review of the Literature from 1993-2003”
Technovation, 26, 644-664. http://dx.doi.org/10.1016/j.technovation.2005.06.016
Beck, T., Demirguc-Kunt, A., & Maksimovich, V. (2005). Financial and Legal Constraints to
Growth: Does Firm Size Matter? Journal of Finance, 60(1), 137-177.
Bernard, A. B., & Jensen, J.B. (1999). Exceptional Exporter Performance: Cause, Effect,
orBoth? Journal of International Economics, 47(1), 1-25.
Brüderl, J., Preisendörfen, P. & Ziegler, R. (1992). Survival Chances of Newly Founded
Business Organizations. American Sociological Review, 57, 227–242.
Cainelli, G., Evangelista, R., & Savona, M. (2006). Innovation and Economic Performance in
Services: A Firm-Level Analysis. Cambridge Journal of Economics, 30, 435-458.
Carden, S.D. (2005). What Global Executives Think About Growth and Risk. McKinsey
Quarterly, 2, 16-25.
Caves, R.E. (2006). Survivor: The Role of Innovation in Firms’ Survival. Research Policy, 35,
Buhari DOGAN, Mesut ALBENI, Vedat BAYDAR & Omer AKCAYIR
Page |84 EJBE 2016, 9 (17)
626-641.
Chetty, S.K. (1999). Dimensions of Internationalization of Manufacturing Firms in the Apparel
Industry. European Journal of Marketing, 33(1/2), 121-142.
Clerides, S.K., Lach, S., Tybout, J.R. (1998). Is learning by exporting important? Microdynamic
evidence from Colombia, Mexico, and Morocco. Quarterly Journal of Economics
CXIII, 903–947.
Coad. A. (2009). The Growth of Firms. UK: Edward Elgar Publishing Limited.
Cragg, J. (1971). Some Statistical Modelsfor Limited Dependent Variables with Application to
the Demand for Durable Goods. Econometrica, 39, .829-844.
Cockburn, I., & GRILICHES, Z. (1988). Industry Effects and Appropriability Measures in The
Stock Market’s Valuation of R&D and Patents. American Economic Review, 78(2), 419-423.
Covin, J.G., & Slevin, D.P. (1991). A Conceptual Model of Entrepreneurship as Firm Behavior.
Entrepreneurship Theory and Practice, 16, 7-24.
Çavuşgil, S.T., & Naor, J. (1987). Firmand Management Characteristics as Discriminators of
Export Marketing Activity. Journal of Business Research, 13(3), 221-235.
Das, S. (1995). Size, Age and Firm Growth in an Inflant Industry: TheComputer Hardware
Industry in India. International Journal of Industrial Organization, 13(1), 111-126.
Deeds, D.L. (2001). The Role of R&D Intensity, Technical Development and Absorptive
Capacity in Creating Entrepreneurial Wealth in High-Tech Start-Up. Journal of Engineering
and Technology Management, 18, 29-47.
Demirgil H. (2008). Firmaların Hayatta Kalma and Büyüme Performanslarını Belirleyen
Faktörler: Göller Bölgesi Üzerine Bir Araştırma (Unpublished doctoral thesis). Social Science
Institute of Suleyman Demirel University, Isparta, Turkey.
Dunne, T., Roberts, M.J., & Samuelson, L. (1988). Patterns of Firm Entry and Exit in U.S.
Manufacturing Industries. RAND Journal of Economics, 19(4), 495-515.
Evans & David S. (1987). The Relationship between Firm Growth, Size, and Age: Estimatesfor
100 Manufacturing Industries. The Journal of Industrial Economics 35(4), 567–581.
http://dx.doi.org/10.2307/2098588
Freel, M.S., & Robson, P.J.A. (2004). Small Firm Innovation, Growth and Performance:
Evidence from Scotland and Northern England. International Small Business Journal, 22(6),
561-575.
Geroski, P.A., & Gugler, K. (2004). Corporate Growth Convergence in Europe. Oxford
Economic Papers, 56, 597-620.
Greene, W. H. (2003). Econometric Analysis. New Jersey: PrenticeHall.
Greiner, L. (1972). Evolution and Revolution as Organizations Grow. Harvard Business
Review, 37-46.
Hall, R. (1993). A Framework Linking Intangible Resources and Capabilities to Sustainable
Competitive Advantage. Strategic Management Journal, 14, 607-618.
Hardwick, P., & Adams, M. (2002). Firm Size and Growth in the United Kingdom Life
Insurance Industry. The Journal of Risk and Insurance, 69(4), 577-593.
Hay, M., & Kamshad, K. (1994). Small Firm Growth: Intentions Implementation and
Impediments. Business Strategy Review, 5(3), 49-68.
Heckman, J. (1979). Sample Selection Bias as a Specification Error. Econometrica, 47,
A Research on the Performance and Characteristics of the Firms in Turkish Manufacturing...
EJBE 2016, 9 (17) Page | 85
153-161.
Hymer, S., & Pashigan, P. (1962). Firm size and rate of growth. The Journal of Political
Economy, 70(6), 556 – 569.
Higson, C., Holly, S., & Kattuamn P. (2002). The cross-sectional dynamics of the US business
cycle: 1950–1999. Journal of Economic Dynamics and Control, 26(9–10), 1539–55.
http://dx.doi.org/10.1016/S0165-1889(01)00084-7
Huynh, K.P., & Petrunia, R.J. (2009). Age Effects, LeverageAndFirmGrowth. (Working Paper
Indiana University).
Jantunen, A. (2005). Knowledge-Processing Capabilities and Innovative Performance: An
Empirical Study. European Journal of Innovation Management, 8(3), 336-349.
Karaȍz, M. & Albeni, M. (2011). İş Kuluçkalarında Yeni Kurulan Girişimlerin Hayatta Kalma
and Büyüme Performansını Etkileyen Faktörler: KOSGEB İş Geliştirme Merkezleri (İŞGEM)
Üzerine Bir Araştırma (TÜBİTAK Project Report). Isparta.
Katsikeas, C.S., Piercy, N.F., & Ioannidis, C. (1996). Determinants of Export Performance in a
EuropeanContext. European Journal of Marketing, 30(6), 6-35.
Kȍmȕrcȕ, E. (2008). İmalat Sanayiinde İş Mükemmelliğinin Firma Performansına Etkilerinin
Araştırılması (Unpublished master thesis). Sabancı Üniversitesi, Turkey.
Mata, J., Portugal, P., & Guimares, P. (1995). The Survival of New Plants: Start-up
Conditionsand Post-EntryEvolution. International Journal of Industrial Organization, 13,
459 – 481.
Mcpherson, M.A. (1996). Growth of Micro and Small Enterprises in Southern Africa. Journal
of Development Economics, 48, 253-277. http://dx.doi.org/10.1016/0304-3878(95)00027-5
Mishra, P., & Chandra, T. (2010). Mergers Acquisitons and Firm’s Performance: Experience of
Indian Pharmaceutical Industry. Eurasian Journal of Business and Economics, 3(5), 111-126.
Niskanen, M., & Niskanen J. (2005). The determinant of Firm Growth in Small and Micro
Firms-Evidence on Relationship Lemding Effects. School of Business and Administration,
University of Kuopio, Finland.
O’Cass, A., & Craig, J. (2003). Examining Firm and Environmental Infuences on Export
Marketing Mix Strategy and Export Performance of Australian Exporters. European Journal of
Marketing, 37(3/4), 366-384.
Penrose, E.T. (1959). The Theory of the Growth of the Firm. Oxford: Basil Blackwell.
Robson, P., & Bennett, R. (2000). SME Growth: The Relationship with Business Advice and
External Collaboration. Small Business Economics, 15(3), 193-208.
Rothaermel, F.T., & Thursby, M. (2005). Incubator Firm Failure or Graduation? The Role of
University Linkages. Research Policy, 34, 1076–1090.
Segarra, A., & Callejon, M. (2002). New Firm Survival and Market Turbulence: New Evidence
from Spain. Review of Industrial Oranization, 20, 1-14.
http://dx.doi.org/10.1023/A:1013309928700
Shanmugam, K.R., & Bhaduri, S.N. (2002). Size, Age and Firm Growth in the Indian
Manufacturing Sector. Applied Economics Letters, 9(9), 607-613.
Seleim, A., & Ashour, A., & Bontis, N. (2004). Intellectual Capital in Egyptian Software Firms.
The Learning Organization, 11(4/5), 332-346.
Sougiannis, T. (1994). The Accounting-based Valuation of Corporate R&D. The Accounting
Buhari DOGAN, Mesut ALBENI, Vedat BAYDAR & Omer AKCAYIR
Page |86 EJBE 2016, 9 (17)
Review, 69, 44-68.
Stewart, T.A. (1994). Your Company's Most Valuable Asset: Intellectual Capital. Fortune, 3,
68-74.
Stinchcombe, A. L. (1965). Social Structure and Organizations. In J.G. March (Ed.), Handbook
of Organizations (pp.142-193). Chicago, IL: RandMcNally & Company.
Taticchi, P., Kashi, R., Balachandran, M., & Cagnazzo, B.L. (2008). Performance Measurement
Management for Small and Medium Enterprises: An Integrated Approach. Journal of Applied
Management Accounting Research, 5(2), 57-72.
Tobin, J. (1958). Estimation of Relationship for Limited Dependent Variables. Econometrica
Journal of the Econometric Society, 26(1), 24-36
TÜİK. (2013). Turkey’s Statistical Yearbook 2012, Ankara: Turkish Statistical Institute.
TÜSİAD. (2008). Turkish Industry: A Sectoral Overwview. (05/466 Ed.). İstanbul: Turkish
Industry and Business Association.
Wang, W., & Chang, W. (2005). Intellectual Capital and Performance in Causal Models:
Evidence from the Information Technology Industry in Tawain. Journal of Intellectual
Capital, 6(2), 222-236.
Wagner, J. (2002). The Casual Effects of Exports on Firms Size and Labor Productivity: First
Evidence from a Matching Approach. Economic Letters, 77(2), 287-292
Wagner, J. (1992). Firm Size, Firm Growth, and Persistence of Chance. Testing Gibrat’s Law
with Establishment Data from Lower Saxony, 1978- 1989. Small Business Economics, 4(2),
125-131.
Wiklund, J., & Shepherd, D. (2003). Knowledge-based Resources, Entrepreneurial
Orientation, and the Performance of Small and Medium Sized Business. Strategic
Management Journal, 24, 1307-1314.
Ulusoy, G., Alpkan, L., Kiliç, K., & Öner, M.A. (2008). İmalat Sanayiinde İnovasyon Modelleri
ve Uygulamaları Projesi Raporu (Tubitak Project, Sobag –No: 105K105). İstanbul.
Yasuda, T. (2005). Firm Growth, Size, Age and Behavior in Japanese Manufacturing. Small
Business Economics, 24, 1–15. http://dx.doi.org/10.1007/s11187-005-7568-y
Yücel, A. (2006). İhracat Pazarlaması Stratejilerinin Firma Performansı Üzerine Etkileri Hazır
Giyim Firmaları Üzerine Bir Uygulama (Unpublished doctoral dissertation). Social Science
Institute of Ankara University, Ankara, Turkey.

Thank you for copying data from http://www.arastirmax.com