Profitability of Turkish manufacturing firms: efficiency or market power?

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dc.authorscopusid57196377142
dc.authorscopusid57196391626
dc.contributor.authorYalçınkaya, A.E.A.
dc.contributor.authorEkinci, Ramazan
dc.date.accessioned2022-02-15T16:58:54Z
dc.date.available2022-02-15T16:58:54Z
dc.date.issued2021
dc.departmentBakırçay Üniversitesien_US
dc.description.abstractThe relationship between efficiency, profitability and market power in the literature has developed on the basis of the efficient-structure (ES) hypothesis by Demsetz (1973) and the structure-conduct-performance (SCP or market power) hypothesis by Bain (1951) and Baumol (1982). This paper tests the different hypotheses explaining profitability in the generic framework of hypotheses of collusion versus efficiency, presenting as its main contribution the use of a direct measurement of efficiency. The analysis is performed on 115 firms operating in the Turkish manufacturing industry during the 2010-2019 period. The data is extracted from the Public Disclosure Platform (KAP) and firms balance sheet items. In order to test the hypotheses, the profit efficiency measures within the method of Bayesian Stochastic Frontier Analysis were used. In the empirical section, we perform a static and dynamic panel data approach to estimate the regression equations. The static and dynamic results show that there is a negative and significant relation between concentration and profitability for all industry, while a positive and significant relation between large firms' concentration ratio and profitability. We also find a positive and significant effect of profit efficiency on firm profitability. This supports the ES hypothesis in the Turkish manufacturing industry. © Peter Lang GmbH Internationaler Verlag der Wissenschaften Berlin 2021 All rights reserved.en_US
dc.identifier.endpage64en_US
dc.identifier.isbn9783631848432
dc.identifier.isbn9783631815939
dc.identifier.scopus2-s2.0-85108037805en_US
dc.identifier.scopusqualityN/Aen_US
dc.identifier.startpage49en_US
dc.identifier.urihttps://hdl.handle.net/20.500.14034/484
dc.indekslendigikaynakScopusen_US
dc.language.isoenen_US
dc.publisherPeter Lang AGen_US
dc.relation.journalContemporary Issues with Multidisciplinary Perspectives on Social Scienceen_US
dc.relation.publicationcategoryKitap Bölümü - Uluslararasıen_US
dc.rightsinfo:eu-repo/semantics/closedAccessen_US
dc.subjectBayesian stochastic frontier analysisen_US
dc.subjectEfficient-structure hypothesisen_US
dc.subjectProfitabilityen_US
dc.subjectStructure-conduct-performance hypothesisen_US
dc.subjectTurkish manufacturing industryen_US
dc.titleProfitability of Turkish manufacturing firms: efficiency or market power?en_US
dc.typeBook Chapteren_US

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