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The impact of the global economic crisis on working capital of real sector in Turkey

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  • Kesimli, Iffet
  • Gunay, Suleyman

Abstract

Objective of this study is to reveal the impact of the recent global economic crisis, triggered in 2007 and unveiled in 2008, on the working capital of real sector in Turkey. Since it is obvious that ratios would help in such an analysis, we have analyzed the current assets and liabilities related ratios, based on financial statements of Turkish real sector firms, quoted in the Istanbul Stock Exchange (ISE). Pre-crisis era has been compared with the crisis era, while the degrees of the affection of the real sector current assets and current liabilities have been tested through hypotheses, and two-tail-significance test has been conducted. The results of this study draw conclusions from an empirical investigation showing that the 45 ISE companies, chosen among others, have been affected on a limited basis.

Suggested Citation

  • Kesimli, Iffet & Gunay, Suleyman, 2011. "The impact of the global economic crisis on working capital of real sector in Turkey," Business and Economic Horizons (BEH), Prague Development Center (PRADEC), vol. 4(1), pages 1-18, January.
    • Handle: RePEc:ags:pdcbeh:204185
    DOI: 10.22004/ag.econ.204185
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    References listed on IDEAS

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    1. Guillermo A. Calvo & Alejandro Izquierdo & Luis-Fernando Mejía, 2008. "Systemic Sudden Stops: The Relevance Of Balance-Sheet Effects And Financial Integration," NBER Working Papers 14026, National Bureau of Economic Research, Inc.
    2. Greg Filbeck & Thomas M. Krueger, 2005. "An Analysis of Working Capital Management Results Across Industries," American Journal of Business, Emerald Group Publishing, vol. 20(2), pages 11-20.
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    Cited by:

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    2. Minhas Akbar & Ahsan Akbar & Muhammad Umar Draz, 2021. "Global Financial Crisis, Working Capital Management, and Firm Performance: Evidence From an Islamic Market Index," SAGE Open, , vol. 11(2), pages 21582440211, May.
    3. Emine Ebru AKSOY & Erginbay UÐURLU, 2015. "How did the 2007-2008 Financial Crisis Influence Turkish Firms," Journal of Economics and Political Economy, KSP Journals, vol. 2(4), pages 494-506, December.
    4. Nitya Nand Tripathi & Naseem Ahamed, 2017. "Time Taken to Reach the Performance Summit: Nature of Relation Between Working Capital Management and Firm Performance in the Indian Context," International Journal of Economics and Financial Issues, Econjournals, vol. 7(4), pages 530-536.
    5. Onaolapo A.R. & Ajayi O.G., 2023. "Effect of Working Capital Management Practices on the Performance of Listed Nigerian Pharmaceutical Companies," International Journal of Research and Innovation in Social Science, International Journal of Research and Innovation in Social Science (IJRISS), vol. 7(9), pages 466-479, September.

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