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Journals / Iğdır Üniversitesi Sosyal Bilimler Dergisi / 2026 / Sayı: 42

Foreign Ownership and Employment Growth During Economic Crises: Empirical Evidence from the Turkish Manufacturing Sector

Kriz Dönemlerinde Yabancı Mülkiyet ve İstihdam Büyümesi: Türkiye İmalat Sanayi Üzerine Ampirik Bulgular

Özcan Özkan(KİLİS 7 ARALIK ÜNİVERSİTESİ)0000-0002-8170-0556
Pages
150–164
Publication Date
2026-05-19
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AI Summary & Key Takeaways

AI Insight
⚡ TL;DR(Too Long; Didn't Read)

The results show that the 2001 crisis was worse than the 2008 crisis regarding employment growth.

📌 3 Key Takeaways

🎯
Objective & Hypothesis:This paper investigates the effects of foreign ownership on the performance of the manufacturing firms in Turkey during economic crisis periods.
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Key Findings & Data:Using the “Top 500 Industrial Enterprises” data published by the Istanbul Chamber of Industry (ISO), a balanced panel dataset was constructed for the period 1995–2017.
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Conclusion & Impact:The results show that the 2001 crisis was worse than the 2008 crisis regarding employment growth.
🔬Design:Modeling & Simulation
📍Scope:2017 Verileri
⚙️Variables:Yabancı mülkiyet · imalat · ekonomik kriz

Abstract

This paper investigates the effects of foreign ownership on the performance of the manufacturing firms in Turkey during economic crisis periods. Using the “Top 500 Industrial Enterprises” data published by the Istanbul Chamber of Industry (ISO), a balanced panel dataset was constructed for the period 1995–2017. For this study, the panel data for a total of 66 manufacturing firms were analyzed. Employment growth has been used as a measure of performance. The analysis uses panel data techniques. Foreign ownership status, crisis periods, sales revenue, profit or loss, exports, and crisis dummies are included in the model as explanatory variables. The results show that the 2001 crisis was worse than the 2008 crisis regarding employment growth. While financial fragilities for firms in 2001 limited employment capacity of firms, in 2008, they were in a better position to bear the adverse shock. Foreign-owned firms benefited from foreign finance and export linkages during the global crisis. Domestic firms performed better during the local crisis with a higher adjustment flexibility. The results show that the effects of foreign ownership differ according to the type of crisis. The results also indicate that Turkish manufacturing firms have become more resistant to economic shocks over time.

Özet

Bu çalışma, ekonomik kriz dönemlerinde Türkiye'deki imalat firmalarının performansı üzerindeki yabancı mülkiyet etkilerini incelemektedir. İstanbul Sanayi Odası (İSO) tarafından yayımlanan “İlk 500 Sanayi Kuruluşu” verileri kullanılarak, 1995–2017 dönemini kapsayan dengeli bir panel veri seti oluşturulmuştur. Toplamda 66 imalat firmasına ait panel verileri analiz edilmiştir. Performans ölçütü olarak istihdam, yani iş gücü artışı esas alınmıştır. Analizlerde panel veri teknikleri kullanılmıştır. Modelde yabancı mülkiyet durumu, kriz dönemleri, satış geliri, kâr veya zarar durumu, ihracat ve kriz kukla değişkenleri açıklayıcı değişkenler olarak dahil edilmiştir. Sonuçlar, 2001 krizinin istihdam artışı açısından 2008 krizine kıyasla daha olumsuz etkiler yarattığını göstermektedir. 2001 yılında firmaların karşılaştığı finansal kırılganlıklar, istihdam kapasitesini ciddi şekilde kısıtlarken, 2008 yılında firmalar olumsuz şoklara karşı daha dayanıklı bir pozisyonda olmuştur. Küresel kriz döneminde yabancı mülkiyete sahip firmalar, dış finansman olanakları ve ihracat bağlantılarından faydalanmıştır. Yerli firmalar ise, yerel kriz sırasında daha yüksek uyum esnekliği sayesinde daha iyi bir performans sergilemiştir. Sonuçlar, yabancı mülkiyetin etkilerinin kriz türüne göre değişiklik gösterdiğini ortaya koymaktadır. Ayrıca, Türk imalat firmalarının zamanla ekonomik şoklara karşı daha dirençli hale geldiği de ortaya çıkmıştır.

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Cite This Article

Özkan, Ö. (2026). Foreign Ownership and Employment Growth During Economic Crises: Empirical Evidence from the Turkish Manufacturing Sector. Iğdır Üniversitesi Sosyal Bilimler Dergisi, Sayı: 42, 150–164. https://doi.org/10.54600/igdirsosbilder.1807241

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