Consumer responses to the H5N1 Avian Influenza: the case of Turkey

Using the case of the 2005-2006 Avian Influenza crisis also experienced in Turkey, we present its impacts on consumers' concerns on the pandemic. Based on our cross-sectional dataset derived from a household survey, results from our probit estimations imply that the negative impact of the pandemic on the poultry sector could have been alleviated by informing consumers about it. Frequent users, older consumers, and females are derived to be more concerned about the pandemic. Campaigns, especially through the efficient use of media channels, can target to minimize demand shocks and help poultry demand return to pre-outbreak levels. Using these results, policies can be designed to decrease the negative impacts of future food scares.

Factors Affecting Firm Competitiveness: Evidence from an Emerging Market

The objective of this study is to investigate the factors affecting firm competitiveness in an emerging market—Turkey. In the paper, competitiveness is proxied by a firm’s financial performance. The empirical analysis is based on firms listed on Borsa Istanbul and covers the period between 2005 and 2014. Results from a firm-level panel data model indicate that return on assets is positively related to firm size, international sales, liquidity and growth, and negatively related to leverage and R&D expenditures. On the other hand, gross profit margin is positively related to size and international sales, and negatively related to leverage and R&D expenditures. Finally, results show that Tobin’s Q ratio is higher for firms with higher levels of debt and higher liquidity levels

Corporate Social Responsibility and Financial Performance: The Moderating Role of Ownership Concentration in Turkey

The objective of this study is to investigate the impact of corporate social responsibility (CSR) engagement on firm financial performance in a developing country, Turkey, and to analyze the moderating role of ownership concentration in the CSR–financial performance relationship. The sample consists of non-financial public firms listed on the Borsa Istanbul (BIST)-100 index and covers the period between 2014 and 2018. Empirical results using an instrumental variable approach show that corporate social responsibility has a positive relationship with financial performance. Furthermore, findings indicate that this relationship is negatively moderated by ownership concentration even when endogeneity is controlled for