You are here

A Comparative Performance Analysis of Foreign and Domestic Manufacturing Companies in Turkey

Journal Name:

Publication Year:

Abstract (2. Language): 
We analyze whether foreign-owned firms perform better financially than domestically-owned firms in manufacturing sector in Turkey. The impacts of several firm indicators like age, size, assets, R&D, expenses, and firm risks on the four corporate performance measures, ROE, TFP, BEP and ROA are investigated by a panel data model. We focus on effects of foreign ownership on firm performance. Although there is no much study on this issue in Turkey, contrary to the findings of former studies, our results reveal that there is no significant difference between the performances of foreign-owned and domestically-owned firms.
125-137

REFERENCES

References: 

Aw, Bee-Yan, and Amy R. Hwang. 1995. “Productivity and the Export Market: A Firm
Level Analysis.” Journal of Development Economics47:313-32.
Aydin, Nurhan, Mustafa Sayim, and Abdullah Yalama. 2007. “Foreign Ownership and
Firm Performance: Evidence from Turkey.” International Research Journal of
Finance and Economics 11:103-11.
Barajas, Adolfo, Roberto Steiner, and Natalia Salazar. 2000. “The Impact of
Liberalization and Foreign Investment in Colombia’s Financial Sector.”
Journal of Development Economics63:157–196.
Buckley, Peter J., Jeremy Clegg, and Chengqi Wang. 2002. “The Impact of Inward
FDI on the Performance of Chinese Manufacturing Firms.” Journal of
International Business Studies33: 637-655.
Corrado, Carol, Paul Lengermann, and Larry Slifman. 2007. “The Contribution of
Multinational Corporations to U.S. Productivity Growth, 1977-2000.” Finance and
Economics Discussion Series, Federal Reserve Board, Washington, D.C.:1-25.
136
Doms, Mark, and J. Bradford Jensen. 1998. “Comparing Wages, Skills and Productivity
between Domestically and Foreign-Owned Manufacturing Establishments
in the United States.” In Geography and Ownerships as Basis for Economic
Accounting, edited by Robert E. Baldwin, Robert E. Lipsey, and J. David
Richardson. Chicago: University of Chicago Press.
Fukao, Kiyoji, Keiko Ito, and Hyeog Ug Kwon. 2005. “Do out-in M&As Bring Higher
TFP to Japan? An Empirical Analysis Based on Micro-Data on Japanese
Manufacturing Firms.” The Japanese and International Economics19:272-301.
Globerman, Steven, John Ries, and Ilan Vertinsky. 1994. “The Economic Performance
of Foreign Affiliates in Canada.” Canadian Journal of Economics27:143-56.
Hallward-Driemeier, Mary, Giuseppe Iarossi, and Kenneth L. Sokoloff. 2002. “Exports
and Manufacturing Productivity in East Asia: A Comparative Analysis with
Firm Level Data.” NBER Working PaperNo 8894:1-31.
Halpern, Laszlo and Balazs Muraközy. 2004. “Does Distance Matter in Spillover?”
Economics of Transition 15:781-805.
Isik, Ihsan, Lokman Gunduz, Osman Kilic, and Dogan Uysal. 2004. “Assessing the
Relationship between Liberalization, Ownership and Performance: The
Case of Turkish Banks.” International Business and Economics Research
Journal3:39-52.
Karatas, Abdulmecit. 2005. Performance of Direct Foreign Investments in Turkey.
Ankara:Capital Markets Board of Turkey Publication, No: 185.
Kimura, Fukunari and Kozo Kiyota. 2007. “Foreign-Owned versus Domestically-Owned Firms: Economic Performance in Japan,” Review of Development
Economics11:31-48.
King, Lawrence Peter. 1999. “The Development Consequences of Foreign Direct
Investment in the Transition from Socialism to Capitalism: The Performance
of Foreign-Owned Firms in Hungary.” William Davidson Institute Working
Papers Series,No: 277:1-65. Accessed March 30, 2011.
Kumar, Anil. 2007 “Does Foreign Direct Investment Help Emerging Economies?”
Economic Letter, Federal Reserve Bank of Dallas:1-10.
Omer, Khursheed, David Durr, and Philip H. Siegel. 1998. “Degree of Multinationality
and Financial Performance: A Study of U.S.-Based Multinational
Corporations.” Review of Quantitative Finance and Accounting11:53-68.
Eyup Bastı-Nizamettin Bayyurt and Ahmet Akın
European Journal of Economic and Political Studies
137
Talluri, Sirivinas and K. Paul Yoon. 2000. “A Cone Ratio DEA Approach for AMT
Justification.” International Journal of Production Economics66:119-129.
Thompson, G. Russell, Emile J. Brinkmann, P.S. Dharmapala, M.D. Gonzales – Lima,
and Robert M. Thrall. 1997. “DEA / AR Profit Ratios and Sensitivity of 100
Large U.S. Banks.” European Journal of Operational Research98:213-229.
Wang, Chengqi and Li Yu. 2007. “Do Spillover Benefits Grow with Rising Foreign
Direct Investment? An Empirical Examination of the Case of China.” Applied
Economics39: 397-405

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