Bankacılık ve Finans Bölümü
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Browsing Bankacılık ve Finans Bölümü by Author "Akdogan, Ece C."
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Article Citation - WoS: 11Citation - Scopus: 10Managing working capital efficiency in Turkish agribusinesses and the impact of globalization: insights from an emerging market(Wageningen Academic Publishers, 2019) Akdogan, Ece C.; Akdoğan, Ece Ceylan; Dinc, Dilek Temiz; 52039; Bankacılık ve FinansThe efficiency of working capital is a major determinant of firm profitability. So, the grasp of working capital dynamics is extremely important for managers, but also for policy makers, since inefficient working capital management is an important source of industrial sickness. This study focuses on the profitability impacts of working capital policies of Turkish agribusinesses, and aims to investigate the potential effects of globalization on these interrelated relationships. The findings obtained from pooled panel analyses demonstrate that Turkish agribusinesses can enhance their profitability and value by adopting a conservative working capital policy through lengthening the cash conversion cycle up to an optimal level. Besides, globalization is found to deteriorate their efficiency and profitability where economic globalization seems to have the highest impact raising questions on the effectiveness of Turkish agribusinesses in coping with competition. Thus, both the managers and the policy makers should concern with the competitiveness impacts of globalization.Article Citation - WoS: 2Citation - Scopus: 2Profitability effects of financial globalization in an emerging market banking industry: insights into Turkey(Univ Rijeka, Fac Ecomomics, 2019) Akdogan, Ece C.; Akdoğan, Ece Ceylan; Ozsuca, Ekin Ayse; 237965; Bankacılık ve FinansThe massive ,financial liberalization followed by accelerating financial globalization leaded to significant structural changes in the financial sector: Since financial institutions play a dominant role in functioning of financial sector, especially in emerging markets where banking industries are generally among the most sensitive sectors to increased interconnectedness of financial markets, haw financial globalization actually affects the efficiency of financial intermediation is a vital question. However; although there exists plenty of research focusing on financial integration, impacts of financial globalization is untouched. Hence, this study investigates the bank profitability effects of financial globalization through focusing on an emerging market, Turkey and searches for any potential differences that may prevail among banks with different ownership structures. The findings indicate that while the market based profitability measures improve with financial globalization, the accounting based measures deteriorate pinpointing to an over optimism in the market which in turn brings in mispricing problems. Besides, ownership structure is found to affect the market based measures where banks with domestic and private ownerships are found to benefit more. However; since no significant distinction could be detected among any of the ownership compositions for accounting based profitability measures, such misappraisals seem to foster the optimism in the market.