A field study concerning the effects of economic crisis on international trading companies and the measures taken


Doganay M., KOÇSOY M.

AFRICAN JOURNAL OF BUSINESS MANAGEMENT, vol.5, no.22, pp.9477-9489, 2011 (Journal Indexed in SSCI) identifier

  • Publication Type: Article / Article
  • Volume: 5 Issue: 22
  • Publication Date: 2011
  • Title of Journal : AFRICAN JOURNAL OF BUSINESS MANAGEMENT
  • Page Numbers: pp.9477-9489

Abstract

Foreign trade companies are the driving force of the economies especially in developing countries. These companies are the ones most affected by the crises caused by both internal and external factors. Rapid worldwide spread of the 2008 global crisis has produced enormous successive effects on the countries' foreign trade rates. Considering the fact that export is the core of development worldwide, and foreign trade companies have an important share (25 to 30%) in total exports of Turkey, the importance of these companies for the country's economy is better understood. In this study, a questionnaire has been conducted on 56 foreign trade companies which are the backbone of Turkish economy. By doing this, it is intended to provide a solution for these companies' increasing problems caused by the ongoing crisis. Through this survey, the effects of the global economic crisis on these companies, the crisis countermeasures they take and the strategies they follow especially in terms of finance and accounting practices were intended to be identified.