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

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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.

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