Araştırma Makalesi
BibTex RIS Kaynak Göster
Yıl 2022, Cilt: 51 Sayı: 1, 327 - 358, 01.05.2022
https://doi.org/10.26650/ibr.2022.51.912569

Öz

Destekleyen Kurum

Yok

Proje Numarası

YOK

Kaynakça

  • Aaby, N.E. & Slater, F. S. (1989). Management influences on export performance: A Review of the empirical literature 1978-88. International Marketing Review, 6(4), 7-26.
  • Badinger, H. & Url, T. (2013). Export credit guarantees and export performance: Evidence from Austrian firm level data. The World Economy. 36(9), 1115-1130.
  • Balcı, A. (2006). Sosyal bilimlerde araştırma: Yöntem, teknik ve ilkeler. Ankara, Turkey: Pegem Akademi Yayıncılık.
  • Baltagi, B. H. (1995). Econometric analysis of panel data, New York: John Wiley and Sons.
  • Beleska-Spasova, E. (2014). Determinants and measures of export performance–comprehensive literature review. Journal of Contemporary Economic and Business Issues, 1(1), 63-74.
  • Chen, J., Carlos, M.P., Sousa & He, X. (2016). The determinants of export performance: a review of the literature 2006-2014. International Marketing Review,33(5), 626-670.
  • Coolen-Maturi, T. & Coolen, F., P., A. (2018). Nonparametric predictive inference for the validation of credit rating systems. Journal of the Royal Statistical Society: Series A (Statistics in Society),1-17.
  • Cavusgil,S.,T. & Zou S. (1994). Marketing strategy-performance relationship: An Investigation of the empirical link in export market ventures. Journal of Marketing, 58 (1), 1-21.
  • Dang, H. & Partington, G. (2020). Sovereign ratings and national culture. Pacific-Basin Finance Journal,60, 1-18.
  • Das, M. (1994). Successful and unsuccessful exporters from developing countries some preliminary findings. European Journal of Marketing,28(12),19-33.
  • Elkhoury, M. (2008). Credit rating agencies and their potential ımpact on developıng countrıes. UNCTAD/OSG/DP/2008/1, No.186.
  • Gertner, R. K., Gertner D. & Guthery, D. (2007). The Implications of export performance measurement for the significance of the determinants of export performance. Journal of Global Marketing, 20(1), 21-38.
  • Grandinetti, R. & Mason M.C. (2012). Internationalization modes other than exporting The missing determinant of export performance. European Business Review, 24(3), 236-254.
  • Gray, J. , B., Matear, S., M. & Matheson, P., K. (2000). Improving the performance of hospitality firms. International Journal of Contemporary Hospitality Management, 12(3), 149-155.
  • Haque N.U, Mathieson, D. & Mark, N. (1997). Rating the raters of country creditworthiness, Finance & Development, IMF, March, 10-13.
  • Haque, N.U, Kumar M. S. & Mark, N. and Mathieson, D. J. (1996). The Economic content of ındicators of developing country creditworthiness, IMF, Staff Papers, 43(4), 688-724.
  • Hasaballah, A.H.A, Genc, Ö.F.,Mohamad, O. B. & Ahmed, Z. U. (2019). How do relational variables affect export performance? Evidence from Malaysian exporters. Asia Pacific Journal of Marketing and Logistics, 31(1), 128-156.
  • Ibrahim, E., S. & Ogunyemi, Y. (2012). The effect of linkages and information sharing on supply chain and export performance: An empirical study of Egyptian textile manufacturers. Journal of Manufacturing Technology Management, 23(4), 441-463.
  • Johnson, B. & Chrıstensen, L.(2014). Educational research (quantitative, qualitative, and mixed approaches (4th Edition), (Çev. Ed. S. B. Demir). Ankara: Eğiten Kitap.
  • Kahveci, E. (2013). İhracat performansı ölçütleri ve ihracat performansını etkileyen faktörler, Verimlilik Dergisi, Sayı: 1, 43-74.
  • Kargı, B. (2014). Uluslararası kredi derecelendirme kuruluşları ve Türkiye’nin kredi notu üzerine bir inceleme (1998-2013). International Journal of Social Science, 24(Spring), 351-370.
  • Katsikeas, S. C., Piercy, N. F. & Ioannidis, C. (1996 ). Determinants of export performance in a European context. European Journal of Marketing, 30(6), 6-35.
  • Kılıçaslan, H. & Giter M., S. (2016). Kredi derecelendirme ve ortaya çıkan sorunlar. Maliye Araştırmaları Dergisi, 2(1),61-81.
  • Lages, F., L. & Montgomery, D., B. (2004). Export performance as an antecedent of export commitment and marketing strategy adaptation: Evidence from small and medium-sized exporters. European Journal of Marketing, 38(9/10), 1186-1214.
  • Lee, K., H., Sapriza, H. & Wu, Y. (2016). Sovereign debt ratings and stock liquidity around the World. Journal of Banking & Finance, 73, 99-112.
  • Madsen, T.K. (1989). Successful export marketing management: Some empirical evidence. International Marketing Review, 6(4), 41-57.
  • Pirdal, B. (2017). A Comparative analysis of sovereign credit rating methods and credit default swaps. AİBÜ Sosyal Bilimler Enstitüsü Dergisi, 17(4), 107-124.
  • Rekarti E., Doktoralina, C., M. & Saluy, A., B. (2018). Development model of marketing capabilities and export performance of SMEs: A Proposed Study, European journal of Business and Management, 10(22), 107-114.
  • Rosson, P. J. & Ford, I. D. (1982). Manufacturer-overseas distributor relations and export performance. Journal of International Business Studies, 13(2), 57-72.
  • Sajjad, F. & Zakaria, M. (2018). Credit rating as a mechanism for capital structure optimization: empirical evidence from panel data analysis. International Journal of Financial Studies, 6(13),1-14.
  • Sousa, Carlos, M., P., Martínez-López F., J. & Filipe C.(2008). The determinants of export performance: A review of the research in the literature between 1998 and 2005. International Journal of Management Reviews,10(4), 343-374.
  • Ural, T. (2009). The effects of relationship quality on export performance. A classification of small and medium-sized Turkish exporting firms operating in single export-market ventures. European Journal of Marketing, 43(1/2), 139-168.
  • Zou, S. & Stan, S. (1998). The determinants of export performance: a review of the empirical literature between 1987 and 1997. International Marketing Review, 15(5), 333-356.
  • Zou, S., Taylor, C., R. & Osland, G., E. (1998). The EXPERF Scale: A Cross National Generalized Export Performance Measure. Journal of International Marketing, 6(3), 37-58.
  • https://www.fitchratings.com /gws/en/sector/overview/sovereigns, e.t.: 14.04.2018.
  • http://www.İSO500.org.tr/İSO-500, Erişim Tarihi: 12.10.2017.
  • https://www.moodys.com/credit-ratings/Turkey-Governmentof-credit-rating-768337, e.t.: 14.04.2018.
  • https://www.standardandpoors.com/en_US/web/guest/home, e.t.: 21.07.2017.
  • http://www.standardandpoors.com/ratings/en/us?rpqSearch=NO&pageNav=No&searchText=turkey&searchField=Entity, e.t.:14.04.2018.

The Impact of Countries’ Credit Rating Scores on the Export Performance of Companies

Yıl 2022, Cilt: 51 Sayı: 1, 327 - 358, 01.05.2022
https://doi.org/10.26650/ibr.2022.51.912569

Öz

In the research, a conceptual model with the export performance scale EXPERF (Export Performance Scale) being the dependent variable and with country credit ratings being the independent variables has been developed, and it is intended to empirically investigate the impact of the country credit rating score on the export performance of enterprises by focusing on the country credit rating among many factors that affect the export performance of enterprises. Regarding the model, in the first stage, the relation between the country’s credit rating covering the years between 1993-2016 and the export performance of the enterprises is examined using secondary data through panel unit root tests analysis. In this context, the H1 hypothesis that the country credit rating score given by the credit rating agencies has an impact on the export performance of companies is supported, and it is found that the credit rating score of Turkey affects the export performance of businesses. In the field research covering the second stage of the research, ISO 500 enterprises constitute the universe in which the data is collected. A questionnaire regarding the perceptions of business executives about the export performance of companies in 2013, when Turkey’s credit rating score was raised up to investable level, and in 2016, when Turkey’s credit rating score was lowered, was developed based on the EXPERF scale, and the export performance was measured with online or faceto-face application of the questionnaire to the business executives who participated in the study voluntarily. A judicial sampling method was used in the study, and 306 business executives responded to the questionnaire. The H2 hypothesis that there is a difference between the change in the country credit rating and the export performance of the enterprises is not rejected according to the EXPERF scale, which measures the increase in the country credit rating in 2013 and the decrease in the country credit rating in 2016. Export performance of enterprises differs significantly in the periods when the credit rating of the country decreases and rises.

Proje Numarası

YOK

Kaynakça

  • Aaby, N.E. & Slater, F. S. (1989). Management influences on export performance: A Review of the empirical literature 1978-88. International Marketing Review, 6(4), 7-26.
  • Badinger, H. & Url, T. (2013). Export credit guarantees and export performance: Evidence from Austrian firm level data. The World Economy. 36(9), 1115-1130.
  • Balcı, A. (2006). Sosyal bilimlerde araştırma: Yöntem, teknik ve ilkeler. Ankara, Turkey: Pegem Akademi Yayıncılık.
  • Baltagi, B. H. (1995). Econometric analysis of panel data, New York: John Wiley and Sons.
  • Beleska-Spasova, E. (2014). Determinants and measures of export performance–comprehensive literature review. Journal of Contemporary Economic and Business Issues, 1(1), 63-74.
  • Chen, J., Carlos, M.P., Sousa & He, X. (2016). The determinants of export performance: a review of the literature 2006-2014. International Marketing Review,33(5), 626-670.
  • Coolen-Maturi, T. & Coolen, F., P., A. (2018). Nonparametric predictive inference for the validation of credit rating systems. Journal of the Royal Statistical Society: Series A (Statistics in Society),1-17.
  • Cavusgil,S.,T. & Zou S. (1994). Marketing strategy-performance relationship: An Investigation of the empirical link in export market ventures. Journal of Marketing, 58 (1), 1-21.
  • Dang, H. & Partington, G. (2020). Sovereign ratings and national culture. Pacific-Basin Finance Journal,60, 1-18.
  • Das, M. (1994). Successful and unsuccessful exporters from developing countries some preliminary findings. European Journal of Marketing,28(12),19-33.
  • Elkhoury, M. (2008). Credit rating agencies and their potential ımpact on developıng countrıes. UNCTAD/OSG/DP/2008/1, No.186.
  • Gertner, R. K., Gertner D. & Guthery, D. (2007). The Implications of export performance measurement for the significance of the determinants of export performance. Journal of Global Marketing, 20(1), 21-38.
  • Grandinetti, R. & Mason M.C. (2012). Internationalization modes other than exporting The missing determinant of export performance. European Business Review, 24(3), 236-254.
  • Gray, J. , B., Matear, S., M. & Matheson, P., K. (2000). Improving the performance of hospitality firms. International Journal of Contemporary Hospitality Management, 12(3), 149-155.
  • Haque N.U, Mathieson, D. & Mark, N. (1997). Rating the raters of country creditworthiness, Finance & Development, IMF, March, 10-13.
  • Haque, N.U, Kumar M. S. & Mark, N. and Mathieson, D. J. (1996). The Economic content of ındicators of developing country creditworthiness, IMF, Staff Papers, 43(4), 688-724.
  • Hasaballah, A.H.A, Genc, Ö.F.,Mohamad, O. B. & Ahmed, Z. U. (2019). How do relational variables affect export performance? Evidence from Malaysian exporters. Asia Pacific Journal of Marketing and Logistics, 31(1), 128-156.
  • Ibrahim, E., S. & Ogunyemi, Y. (2012). The effect of linkages and information sharing on supply chain and export performance: An empirical study of Egyptian textile manufacturers. Journal of Manufacturing Technology Management, 23(4), 441-463.
  • Johnson, B. & Chrıstensen, L.(2014). Educational research (quantitative, qualitative, and mixed approaches (4th Edition), (Çev. Ed. S. B. Demir). Ankara: Eğiten Kitap.
  • Kahveci, E. (2013). İhracat performansı ölçütleri ve ihracat performansını etkileyen faktörler, Verimlilik Dergisi, Sayı: 1, 43-74.
  • Kargı, B. (2014). Uluslararası kredi derecelendirme kuruluşları ve Türkiye’nin kredi notu üzerine bir inceleme (1998-2013). International Journal of Social Science, 24(Spring), 351-370.
  • Katsikeas, S. C., Piercy, N. F. & Ioannidis, C. (1996 ). Determinants of export performance in a European context. European Journal of Marketing, 30(6), 6-35.
  • Kılıçaslan, H. & Giter M., S. (2016). Kredi derecelendirme ve ortaya çıkan sorunlar. Maliye Araştırmaları Dergisi, 2(1),61-81.
  • Lages, F., L. & Montgomery, D., B. (2004). Export performance as an antecedent of export commitment and marketing strategy adaptation: Evidence from small and medium-sized exporters. European Journal of Marketing, 38(9/10), 1186-1214.
  • Lee, K., H., Sapriza, H. & Wu, Y. (2016). Sovereign debt ratings and stock liquidity around the World. Journal of Banking & Finance, 73, 99-112.
  • Madsen, T.K. (1989). Successful export marketing management: Some empirical evidence. International Marketing Review, 6(4), 41-57.
  • Pirdal, B. (2017). A Comparative analysis of sovereign credit rating methods and credit default swaps. AİBÜ Sosyal Bilimler Enstitüsü Dergisi, 17(4), 107-124.
  • Rekarti E., Doktoralina, C., M. & Saluy, A., B. (2018). Development model of marketing capabilities and export performance of SMEs: A Proposed Study, European journal of Business and Management, 10(22), 107-114.
  • Rosson, P. J. & Ford, I. D. (1982). Manufacturer-overseas distributor relations and export performance. Journal of International Business Studies, 13(2), 57-72.
  • Sajjad, F. & Zakaria, M. (2018). Credit rating as a mechanism for capital structure optimization: empirical evidence from panel data analysis. International Journal of Financial Studies, 6(13),1-14.
  • Sousa, Carlos, M., P., Martínez-López F., J. & Filipe C.(2008). The determinants of export performance: A review of the research in the literature between 1998 and 2005. International Journal of Management Reviews,10(4), 343-374.
  • Ural, T. (2009). The effects of relationship quality on export performance. A classification of small and medium-sized Turkish exporting firms operating in single export-market ventures. European Journal of Marketing, 43(1/2), 139-168.
  • Zou, S. & Stan, S. (1998). The determinants of export performance: a review of the empirical literature between 1987 and 1997. International Marketing Review, 15(5), 333-356.
  • Zou, S., Taylor, C., R. & Osland, G., E. (1998). The EXPERF Scale: A Cross National Generalized Export Performance Measure. Journal of International Marketing, 6(3), 37-58.
  • https://www.fitchratings.com /gws/en/sector/overview/sovereigns, e.t.: 14.04.2018.
  • http://www.İSO500.org.tr/İSO-500, Erişim Tarihi: 12.10.2017.
  • https://www.moodys.com/credit-ratings/Turkey-Governmentof-credit-rating-768337, e.t.: 14.04.2018.
  • https://www.standardandpoors.com/en_US/web/guest/home, e.t.: 21.07.2017.
  • http://www.standardandpoors.com/ratings/en/us?rpqSearch=NO&pageNav=No&searchText=turkey&searchField=Entity, e.t.:14.04.2018.
Toplam 39 adet kaynakça vardır.

Ayrıntılar

Birincil Dil İngilizce
Konular İşletme
Bölüm Articles
Yazarlar

Ruhan İri 0000-0002-5981-9673

Esen Gürbüz 0000-0001-5156-1439

Proje Numarası YOK
Yayımlanma Tarihi 1 Mayıs 2022
Gönderilme Tarihi 10 Nisan 2021
Yayımlandığı Sayı Yıl 2022 Cilt: 51 Sayı: 1

Kaynak Göster

APA İri, R., & Gürbüz, E. (2022). The Impact of Countries’ Credit Rating Scores on the Export Performance of Companies. Istanbul Business Research, 51(1), 327-358. https://doi.org/10.26650/ibr.2022.51.912569

For more information about IBR and recent publications, please visit us at IU Press.