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Does Firm Age Affect Profitability? Evidence From Turkey

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DOES FIRM AGE AFFECT PROFITABILITY EVIDENCE FROM TURKEY.pdf (1.569Mb)
Date
2016
Author
Akben Selçuk, Elif
Abstract
The objective of this study is to investigate the impact of firm age on the profitability of Turkish firms listed on Borsa Istanbul. Using a dataset covering the years between 2005 and 2014 and consisting of 302 non-financial firms per year on the average a fixed effects model with robust standard errors is estimated. Results reveal that there is a negative and convex relationship between firm age and profitability measured by return on assets return on equity or gross profit margin. This suggests that younger firms start to see a decline in their profitability from the beginning but they may become profitable again at an old age. Implications are provided.

Source

International Journal Of Economic Sciences

Issue

3

Volume

5

Pages

1-9

URI

https://hdl.handle.net/20.500.12469/523
https://doi.org/10.20472/ES.2016.5.3.001

Collections

  • Araştırma Çıktıları / WOS [1518]
  • İşletme / Business Administration [81]

Keywords

Firm age
Firm Life Cycle
Financial Performance
Profitability
Fixed Effects Model
Emerging Markets
Turkey

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