High Growth Firms: As a Policy Option in Turkey

Demirez, Murat
HGFs increasingly draw attention of policy makers with their outstanding performances as novel policy instruments. However, the heterogeneous nature of firm growth and its erratic patterns make them questionable. In addition, there is not any consensus about the definition and measurement method for high growth, which makes it difficult to compare different studies. The main research questions of this study are, whether HGFs in Turkey share common characteristics with HGFs in other countries and how the cohort of HGFs changes by using different definitions. In empirical part, the firm data is drawn from the SME Support Organization of Turkey (KOSGEB), in two consecutive four year periods. Our findings show that HGFs in Turkey have some common characteristics with other countries; they are relatively young and small. Whilst, firms with less than twenty employees comprise the majority of HGFs in this study, they are usually excluded out of the definition of HGFs in other studies. Furthermore, contrary to other studies, high growth is not one-time event and a significant amount of HGFs sustain their outstanding performance in the next periods. Consequently, each definition of high growth leads to a different cohort of firms. Whilst, a firm demonstrate high growth in one variable, it might have negative performance in others. Therefore, policies makers need to adopt their own definition in order to discriminate the outstanding performer firms from the modest ones.


Delta Analysis: A Hybrid Quantitative Approach for Measuring Discrepancies between Business Process Models
Esgin, Eren; Karagöz, Pınar (2011-05-25)
Business process management (BPM) continues to play a significant role in today's highly globalized world. In order to detect and prevent the gap between reference process model and the actual operation, process mining techniques discover operational model on the basis of the process logs. An important issue at BPM is to measure the similarity between the reference process model and discovered process model so that it can be possible to pinpoint where process participants deviate from the intended process d...
Optimization of the lubricating oil inventory policy applied in a mining company
Şenses, Sena; Gölbaşı, Onur; Bakal, İsmail Serdar (2021-02-01)
The mining industry should sustain mass and continuous production with an essential contribution of high-capacity machinery. Therefore, spare parts inventory management is vital in ensuring the intended mining production rate as an integral part of maintenance policies. In this paper, a mixed-integer model is presented to solve a multi-item and multi-supplier spare parts inventory model. This model is addressed to a lubricating oil inventory problem in one of the biggest multi-process mining companies in Tu...
Credit scoring methods and accuray ratio
İşcanoğlu, Ayşegül; Körezlioğlu, Hayri; Department of Financial Mathematics (2005)
The credit scoring with the help of classification techniques provides to take easy and quick decisions in lending. However, no definite consensus has been reached with regard to the best method for credit scoring and in what conditions the methods performs best. Although a huge range of classification techniques has been used in this area, the logistic regression has been seen an important tool and used very widely in studies. This study aims to examine accuracy and bias properties in parameter estimation ...
Modeling the Dependency in the Turkish Stock Market via the Dynamic Vine-Garch Model
Evkaya, Ozan; Poyraz, Gülden; Yıldırım Külekci, Bükre; Gür, İsmail (2022-07-15)
The dependence on financial instruments has always been an interesting topic considering their economic and political effects. To measure the change in such instruments over time and interaction between them, the stock prices are widely considered indicators in the literature. While the dynamic portfolio with a moving window approach is proposed for capturing the changing structure, the Vine-copula is used for the highdimensional dependence. In this study, we analyze ISE100 stocks in the pre-, during-, and...
Ownership concentration and firm performance: Evidence from Turkish firms
Önder, Zeynep (Orta Doğu Teknik Üniversitesi (Ankara, Turkey), 2003-12-1)
This paper examines the determinants of ownership concentration and the relationship between ownership structure and firm performance in Turkish firms. The empirical results show that ownership concentration increases with firm size, controlling for total risk and the industry of the firm. The results also suggest that the measure of firm performance is important in analyzing the relationship between firm performance and its ownership structure. A quadratic relationship between the largest shareholder’s con...
Citation Formats
M. Demirez, “High Growth Firms: As a Policy Option in Turkey,” 2016, Accessed: 00, 2021. [Online]. Available: https://hdl.handle.net/11511/92082.