A strategic shift of automobile manufacturing firms in Turkey

This paper examines major business environmental changes influencing a strategic shift of automobile manufacturing firms in Turkey. Within a conceptual model consisting of environmental forces, strategic shift, and mediating variables, including firm size, ownership pattern, and market entry mode, it empirically investigates how such market changes influenced the business strategies of automotive firms in Turkey. The findings indicate that the multinational automotive firms in Turkey have shifted their strategic focus from relying solely on the domestic market to balancing domestic and export markets because of environmental forces. The paper concludes with discussions and suggestions for further research on the subject.market environment; strategic shift; FDI; foreign direct investment; export performance; multinational corporations.

A strategic shift of automobile manufacturing firms in Turkey

This paper examines major business environmental changes influencing a strategic shift of automobile manufacturing firms in Turkey. Within a conceptual model consisting of environmental forces, strategic shift, and mediating variables, including firm size, ownership pattern, and market entry mode, it empirically investigates how such market changes influenced the business strategies of automotive firms in Turkey. The findings indicate that the multinational automotive firms in Turkey have shifted their strategic focus from relying solely on the domestic market to balancing domestic and export markets because of environmental forces. The paper concludes with discussions and suggestions for further research on the subject

Trading volume and stock market volatility: evidence from emerging stock markets

Based on the 'mixture of distribution' hypothesis, this paper investigates the relationship between trading volume and conditional volatility of returns by using 12 emerging stock market indices over the period between January 2000 and August 2006. The results show that when total trading volume is included in the conditional volatility equation as a proxy for information flow, a moderate level of decline in volatility persistence was observed only for two stock markets. In four stock markets the decline in conditional volatility persistence is very small. On the other hand, for the remaining markets, total trading volume is a poor proxy for information flow. The findings are consistent with the findings of prior research, which suggest that volume may be a good proxy for stock-level analysis, but not for market-level analysis. Furthermore, following Wagner and Marsh (2005) and Arago and Nieto (2005) the relationship between unexpected trading volume (surprise trading volume as an alternative proxy for information flow) and conditional volatility is analyzed. The findings illustrate that for most of the markets, the relationship between surprise volume and conditional volatility is statistically significant.Publisher's Versio

Financial ratio patterns in the U.S. defense industry

There have been dramatic political and economic changes affecting the United States defense industry during the past decade (1983-1992). The purpose of this research was to determine the effect of these changes on financial ratio patterns of defense industry firms. The research sample included thirty-eight defense industry firms selected from the top hundred Department of Defense contractors. Fifteen financial ratios, representing four broad categories, were examined for sample firms for a ten year period. Statistical and visual analyses were conducted for each ratio in order to investigate industry financial ratio patterns. The analyses provided significant evidence for the following broad conclusions concerning financial ratio patterns during the ten year period: profitability had declined and risk increased in the defense industry; recent years have shown increasing dispersion (less uniformity) in financial condition across defense industry firms; there was some indication that ratios in the most recent years have become more stable suggesting that the period of greatest turmoil for the industry may be passing.http://archive.org/details/financialratiopa1094542807Turkish Army authorApproved for public release; distribution is unlimited

Turkish Banking System: Maturing with Crises

The history of financial crises entails numerous successive cases reshaping global economies. Limited scale and scope of individual financial crises has turned into regional after the deregulation process of 1970s. Tequila Crisis, Asian Flu, Russian Crisis, Dotcom Crash and the others have similarities and differences but they were all regional though the Global Financial Crisis has far-reaching effects due to the globalized economic and financial system of today. On one side, in an effort to find a panacea to economic problems, developed economies have made several attempts such as bail-outs, quantitative easing programs, tapering, low or negative interest rates and called the new circumstances as "new normal". On the other side, many emerging economies are still in a competition among themselves to decouple from their peers positively, while desperately hoping to hear for a delay of a possible hike in US Federal Reserve Bank interest rates. In such an environment, Turkey still gives a promising impression within the league of emerging economies due to her culture of crisis management coming from the past. Turkey has become highly experienced in economic and financial crises since the economy witnessed economic and financial crises successively, especially after the liberalization of capital flows in 1989. With the experience of major crises in years 1994 and 2001, banking sector is restructured from its ashes and became the major strength of the economy. While harmonizing current domestic banking rules with Basel criterion, capital buffer is still the most powerful vehicle in the hands of the banking system. Turkish banking sector announces high profits on the contrary of many European Union countries. But the question arises whether Turkish Banking sector keeps growing at the expense of the real sector growth

New Strategy and Thinking in Global Business System

Because of the necessity of adopting the product and service to the rapidly changing needs of current customers, specialization in each supply chain has become more important. The companies from the same supply chain benefited from the collaboration in order to gain competitive advantage. This chapter first of all explains the current changes in business environment and define the new global business system and summarizes the common strategies to survive in this environment from related literature. It proposes a model of a smart supply chain management including agile organizations and mutual goal achievement of the firms and the members of the same supply chain at the end of the chapter. The aim of this chapter is providing a road map to todays and future organizations to be more competitive. It is believed that the chapter will be helpful for both professionals and academicians who have interest in strategy building process and creating competitive advantage

A model for determination of optimal production quantity for minimum idle time: a case study in a garment industry

WOS: 000272698200006Assembly line balancing is a classic ill-structured problem where total enumeration is infeasible and optimal solutions uncertain for industrial problems. A quantitative approach to classifying problem difficulty and solution quality is therefore important. In this study, a mathematical model, which can determine optimal production quantity and line balancing plan for minimum total idle time is presented. Data were obtained from the sewing department of a garment establishment and lean production procedures intended for just in-time delivery were used to design modular groups on the production line