Abstract
This chapter aims to give detailed information especially about liquidity and working capital positions of Turkish companies. In addition to the liquidity, detailed analysis about profitability and debt structure is conducted. The adequacy of a company’s working capital depends on the industry in which it competes and its relationship with its customers, suppliers, and the macroeconomic environment the company operates in.
Due to the need of industrial view, differently from the other studies which generally focus on listed companies, this study uses industry financial statements released by Central Bank of Turkey. The data belong to the period between 2009 and 2014.
In short, in this study the importance of liquidity is addressed and also the relationship between the liquidity and working capital adequacy is highlighted from an industrial perspective.
The results indicate poor liquidity, receivable dependence, predomination of debt, inconstant net working capital turnover, and low profitability especially in the crisis period. Thereto this, manufacturing-related industries have higher liquidity and profitability.
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Gumus, Y., Aslanertik, E., Gumus, G.K. (2017). Liquidity Position and Working Capital Adequacy of Companies in Turkey: Outlook from Industry Financial Statements. In: Hacioğlu, Ü., Dinçer, H., Alayoğlu, N. (eds) Global Business Strategies in Crisis. Contributions to Management Science. Springer, Cham. https://doi.org/10.1007/978-3-319-44591-5_27
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DOI: https://doi.org/10.1007/978-3-319-44591-5_27
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