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Analysis With Financial Ratios of Effects of 1994 – 2001 Economic Crisis Experienced in Turkish Economy and 2008 Global Economic Crisis on Manufacturing Industry Sector

Author

Listed:
  • Serdar Karaca, Suleyman

    (Gaziosmanpasa University)

  • Cigdem, Resid

    (Gaziosmanpasa University)

Abstract

The aim of this study was to evaluate the effects of economical crises occurred in Turkey in 1994 and 2001 and encountered globally in 2008 on Turkish Manufacture Industry. For this aim, effects of the crises on the manufacture industry were revealed by Factor and Discrimination Analysis using financial ratios. In this study, financial ratios, liquidity ratios, ratios related to financial structure, activity ratios, profitability ratios and exchange performance ratios were utilized. 15 financial ratios obtained from the financial statements between 1991 and 2011 of 135 firms operated in manufacture industry and included in İstanbul Stok Exchange (ISE) 100 index were used. Those financial ratios were grouped in three factors (productivity, risk and profitability) by Factor Analysis. Discrimination Analysis was treated to those three factors and the efficiencies of those factors in the discrimination of pre- and post of 1994, 2001 and 2008 crises were formulized. In the results, risk and profitability were found to be efficient, but productivity was inefficient.

Suggested Citation

  • Serdar Karaca, Suleyman & Cigdem, Resid, 2013. "Analysis With Financial Ratios of Effects of 1994 – 2001 Economic Crisis Experienced in Turkish Economy and 2008 Global Economic Crisis on Manufacturing Industry Sector," Business and Economics Research Journal, Uludag University, Faculty of Economics and Administrative Sciences, vol. 4(3), pages 1-41, July.
    • Handle: RePEc:ris:buecrj:0125
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    More about this item

    Keywords

    Financial Crisis; Manufacturing Industry; Financial Ratios; Factor Analysis; Discrimination Analysis;
    All these keywords.

    JEL classification:

    • C38 - Mathematical and Quantitative Methods - - Multiple or Simultaneous Equation Models; Multiple Variables - - - Classification Methdos; Cluster Analysis; Principal Components; Factor Analysis
    • G01 - Financial Economics - - General - - - Financial Crises

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