Öz
This study aims to analyze inter-relationship between firm profitability, growth and size by using quarterly data of Turkish manufacturing industry consisting of Borsa Istanbul (BIST) listed manufacturing firms covering 1991.Q2-2014.Q4. In the study, to test the stationarity of series and the co-integration relationship between them, unit root test of Carrioni-i-Silvestre et. al. (2009) and co-integration test of Maki (2012) are used, respectively. Co-integration coefficients are estimated by means of Stock and Watson (1993)’s dynamic ordinary least squares (DOLS) method. Finally, causal relationships between the series are tested by Hacker and Hatemi-J (2012) bootstrap causality test. Structural break dates estimated point out dramatic turning points in Turkish economy. Maki (2012) test results show that the series are co-integrated in the long-run. Long-run parameters estimated by DOLS method posit a significantly negative relationship between profitability and size. Causality test results indicate the existence of one-way causality from size to profitability.
Ayrıntılar
| Bölüm | Articles |
|---|---|
| Yazarlar | |
| Yayımlanma Tarihi | 15 Ocak 2016 |
| Yayımlandığı Sayı | Yıl 2015 Cilt: 4 Sayı: 4 |
Journal of Business, Economics and Finance (JBEF) is a scientific, academic, double blind peer-reviewed, quarterly and open-access journal. The publication language is English. The journal publishes four issues a year. The issuing months are March, June, September and December. The journal aims to provide a research source for all practitioners, policy makers and researchers working in the areas of business, economics and finance. The Editor of JBEF invites all manuscripts that that cover theoretical and/or applied researches on topics related to the interest areas of the Journal. JBEF charges no submission or publication fee.
Ethics
Policy - JBEF applies the standards of
Committee on Publication Ethics (COPE). JBEF is committed to the academic
community ensuring ethics and quality of manuscripts in publications.
Plagiarism is strictly forbidden and the manuscripts found to be plagiarized
will not be accepted or if published will be removed from the publication. Authors
must certify that their manuscripts are their original work. Plagiarism,
duplicate, data fabrication and redundant publications are forbidden. The
manuscripts are subject to plagiarism check by iThenticate or similar. All manuscript submissions must provide a similarity report (up to 15% excluding quotes, bibliography, abstract, method).
Open Access - All research articles published in PressAcademia Journals are fully open access; immediately freely available to read, download and share. Articles are published under the terms of a Creative Commons license which permits use, distribution and reproduction in any medium, provided the original work is properly cited. Open access is a property of individual works, not necessarily journals or publishers. Community standards, rather than copyright law, will continue to provide the mechanism for enforcement of proper attribution and responsible use of the published work, as they do now.