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Reel Döviz Kuru Hareketlerinin Firma Performansına Etkisi: Türk Firmaları Üzerine Ampirik Bir Çalışma

The Impact of Real Exchange Movements on Firm Performance: An Empirical Study on Turkish Firms

Journal Name:

  • Çankırı Karatekin Üniversitesi İktisadi ve İdari Bilimler Dergisi

Publication Year:

  • 2016
DOI: 
http://dx.doi.org/10.18074/cnuiibf.294

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Keywords (Original Language):

Author NameUniversity of AuthorFaculty of Author
Abstract (2. Language): 
The main purpose of this study is to examine the long term relationship between the real exchange rate, added value created by the firms, capital-labor ratio and firms’ domestic sales, exports, total sales and profitability for the 1993-2009 period by using econometric methods. The findings obtained in this study can be listed as follows: According to Durbin-Hausman Cointegration Test, there is a long-term relationship between variables. The results which obtained from the Common Correlated Effect (CCE) estimator indicate that an increase in the exchange rate has negative impact on exports and total sales, while an increase in added value created by the firms has positive effects on exports, domestic sales, total sales and profitability. Finally, it is observed that an increase in capital-labor ratio has positive effects on profitability.
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Abstract (Original Language): 
Bu çalışmada, döviz kuru, firmaların yaratmış olduğu katma değer ve sermaye/emek oranı ile firmaların yurt içi satışları, ihracatları, toplam satışları ve karlılıkları arasındaki uzun dönemli ilişki, 1993-2009 yılları için, ekonometrik modellerle araştırılmıştır. Çalışmada elde edilen bulguları şöyle sıralamak mümkündür: Durbin-Hausman eşbütünleşme testine göre değişkenler arasında uzun dönemli bir ilişki mevcuttur. Common Correlated Effect (CCE) uzun dönemli katsayı tahmincisi ile elde edilen uzun dönemli katsayı tahminlerine göre döviz kurundaki artış ihracatı ve toplam satışları olumsuz etkilemekte iken firmalar tarafından yaratılan katma değer artışı ihracatı, yurtiçi satışları, toplam satışları ve karlılığı pozitif etkilemektedir. Son olarak sermaye/emek oranındaki artışın ise karlılığı pozitif etkilediği belirlenmiştir.
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  • 1
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  • Turkish

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