TITLE:
Behavioral Trends of Export Firms of Turkey in Crisis Period
AUTHORS:
Gokhan Cinar, Ferruh Isin, Adnan Hushmat
KEYWORDS:
Economic Crisis, Decisions, Export Firms, Behavioral Trends, Growth, Downsizing
JOURNAL NAME:
American Journal of Industrial and Business Management,
Vol.6 No.3,
March
24,
2016
ABSTRACT: Globalization, despite all of its advantages, poses serious threats to the world economies. One of the vital issues is global crisis arising from various sources. Firms develop strategies for crisis management in order to be least affected from the global crisis. The main purpose of this study is to put forward behavioral trends of the firms in crisis period. A questionnaire study is conducted to 167 agri-products export firms. Factor analysis is used to identify behavioral dimensions of the firms during global crisis. These dimensions are used as input to cluster analysis in order to cluster the firms on the basis of their decision trends (expansion, contraction or maintain the current position) in risky environment. The results show that 21% of the firms make expansion decisions and 34.7% of them decide to go for contraction. These behavioral trends of the market participants in the face of crisis might be important for policy makers to take necessary measures in order to create a rational environment for firms to continue their operations.