DÖVİZ KURLARININ FİRMA KARINA ETKİLERİ: TOBIT ANALİZİ

Authors : Nazlı Karamollaoğlu

Pages : 15-26

Doi:10.11611/yead.373436

View : 9 | Download : 4

Publication Date : 2017-12-31

Article Type : Other

Abstract :Using a novel dataset on Turkish manufacturing firms covering 22 industries and 45,712 firms, we investigate the impact of real exchange rate fluctuations on firm level corporate profits. Our estimation results do not present strong evidence on the impact of exchange rate variations on firm level profits. The results are not robust to the industry specific exchange rate series constructed using different weighting schemes showing the importance of the choice of the exchange rate series used in the analysis. Moreover, firms with higher productivity and employment as well as older firms have found to be more profitable.
Keywords : : Exchange Rate Exposure, Profits, Micro Data, Turkey, Tobit Model