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Unfavorable Business Environment and Foreign Direct Investment Activities of Turkish Manufacturing Firms

  • Harun Kaya
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    The purpose of this paper is to empirically investigate the influence of the home country’s unfavorable business environment on the internationalization of Turkish manufacturing firms (TMFs) via FDI. This study uses cross-sectional survey data from a sample 94 TMFs that have equity investment in 28 countries since the mid 1980s. The research results indicate that utility costs, unstable exchange rates, high inflation rate and political instability are considered to be the most important push motives of TMFs. While the relative importance of push motives (i.e., unfavorable business environment) vary with respect to the sampled firm’s ages and, to some extent, their sizes; the motives do not vary based on TMFs’ subsector.

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    File URL: http://www.bddk.org.tr/WebSitesi/turkce/Raporlar/BDDK_Dergi/6728makale5%20kaya.pdf
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    Article provided by Banking Regulation and Supervision Agency in its journal Journal of Banking and Financial Markets.

    Volume (Year): 3 (2009)
    Issue (Month): 1 ()
    Pages: 101-118

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    Handle: RePEc:bdd:journl:v:3:y:2009:i:1:p:101-118
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    Web page: http://www.bddk.org.tr/WebSitesi/turkce/Raporlar/BDDK_Dergi/BDDK_Dergi.aspx
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    1. Kálmán Kalotay, 2004. "Outward FDI from Central and Eastern European Countries," Economic Change and Restructuring, Springer, vol. 37(2), pages 141-172, 06.
    2. Jeffrey S Arpan & Edward B Flowers & David A Ricks, 1981. "Foreign Direct Investment in the United States: The State of Knowledge in Research," Journal of International Business Studies, Palgrave Macmillan, vol. 12(1), pages 137-154, March.
    3. Riad A Ajami & David A Ricks, 1981. "Motives of Non-American Firms Investing in the United States," Journal of International Business Studies, Palgrave Macmillan, vol. 12(3), pages 25-34, September.
    4. Robert Grosse & Len J Trevino, 1996. "Foreign Direct Investment in the United States: An Analysis by Country of Origin," Journal of International Business Studies, Palgrave Macmillan, vol. 27(1), pages 139-155, March.
    5. John D Daniels, 1970. "Recent Foreign Direct Manufacturing Investment in the United States," Journal of International Business Studies, Palgrave Macmillan, vol. 1(1), pages 125-132, March.
    6. Lecraw, Donald J, 1977. "Direct Investment by Firms from Less Developed Countries," Oxford Economic Papers, Oxford University Press, vol. 29(3), pages 442-57, November.
    7. Krishna Kumar & Kee Young Kim, 1984. "The Korean Manufacturing Multinationals," Journal of International Business Studies, Palgrave Macmillan, vol. 15(1), pages 45-61, March.
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