International Conference on Eurasian Economies
29-31 August 2016 – Kaposvár, HUNGARY
Paper detail
Paper ID : 1561
Status : Paper published
Language : Turkish
Topic : Finance and Financial Crises
Presenter: Prof. Dr. Reşat Karcıoğlu
Session : 2D Finans II
The Effects of the 2008 Financial Crisis on the Financial Performance of Turkish Manufacturing Companies
2008 Finansal Krizinin Türk İmalat Firmalarının Finansal Performanslarına Etkileri
- Prof. Dr. Reşat Karcıoğlu (Atatürk University, Türkiye)
- Asst. Prof. Dr. Ensar Ağırman (Atatürk University, Türkiye)
- Ph.D. candidate Durmuş Yıldırım (Atatürk University, Türkiye)
Abstract
The financial crisis of 2007-2010 also known as the Global Financial Crisis and 2008 financial crisis, was considered by many economists to be the worst financial crisis since the Great Depression of the 1930’s. It contributed to the failure of key businesses, declines in consumer wealth estimated in the trillions of U.S. dollars, substantial financial commitments incurred by governments, and a significant decline in economic activity. The financial crisis of 2007/08 which began in the United States had little impact on Turkish economy in the beginning stages. However, as a result of the economic downturn in global economics, Turkish economy has been also affected by its domino effect. The aim of this study is to characterize the impact of the 2008 global financial crisis on the financial performance of manufacturing companies listed on Borsa Istanbul, Turkey. Financial analysis will be conducted on 192 publicly listed manufacturing companies. Twelve financial ratios will be examined to determine the profitability, liquidity, activity, leverage and solvency of these companies over the period between 2006 and 2010. A data envelopment analysis will be applied to measure the performance of manufacturing firms before and after the financial crisis of 2008. Findings of this paper may be used by the managements to mitigate the effects and to enhance future performance of these companies have been uncovered. The analysis and observations will be invaluable to researchers intending to study how the manufacturing industry responds to a future slump in demand.
JEL codes: G30, C39, M41
Karcıoğlu, Reşat, Ağırman, Ensar, Yıldırım, Durmuş (2016). "The Effects of the 2008 Financial Crisis on the Financial Performance of Turkish Manufacturing Companies" in Proceedings of International Conference of Eurasian Economies 2016, pp.583-590, Kaposvár, HUNGARY.
DOI: https://doi.org/10.36880/C07.01561
