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Full Length Research
Paper
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A field study concerning the effects of economic crisis on
international trading companies and the measures taken
Murat Doğanay1* and
Murat Koçsoy2
1Faculty
of Economic and Administrative Sciences, Abant İzzet Baysal
University, Bolu, Turkey.
2Faculty
of Economics and Administrative Sciences, Bozok University,
Yozgat, Turkey.
*Corresponding author. E-mail:
doganaymurat@gmail.com.
Tel: +90-312-
2048398. Fax: +90-312-
2128824.
Accepted 28 April, 2011 |
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Abstract |
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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.
Key words: Economic crisis, foreign trade companies, foreign
trade, financial management.
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