Research Article
Year 2017,
Volume: 17 Issue: 1, 123 - 128, 15.03.2017
Abstract
Nowadays oil is the leading energy source in the world. Oil has got a critical importance on manufacturing, specially, in industrial areas. Whilst oil, directly or indirectly, composes the raw material of various products, it is also used as an energy source in running machinery in the manufacturing process. In the scope of this study it is researched that the effects of oil prices on business investments from the view point of manufacturing firms, operating in Turkey. In this study, international crude oil price data and some balance sheet and income statement data about the firms within the scope of work, are analyzed using the panel data analysis. The results of the study show that oil prices have an avoidant and statistically significant effect for the businesses operating in the manufacturing sectors in Turkey.
Keywords
References
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Year 2017,
Volume: 17 Issue: 1, 123 - 128, 15.03.2017
Abstract
References
- Bolaji, B.A., Bolaji, G. A. (2010). Investigating the Effects of Increase in Oil Prices on Manufacturing Companies in Nigeria. The Pacific Journal of Science and Technology, 11 (2), 387-390.
- Baltagi, B.H. (2005). Econometric Analysis of Panel Data (3rd Edition). New York: John Wiley&SonsInc.
- Drakos, K., Konstantinou, P. (2013). Investment Decisions in Manufacturing: Assessing the Effects of Real Oil Prices and Their Uncertainty. Journal of Applied Econometrics, 28, 151-165.
- Eldestein, P., Killian, L. (2007). The Response of Business Fixed Investment to Changes in Energy Prices: A Test of Some Hypotheses About the Transmission of Energy Price Shocks, BE Journal of Macroeconomics, 7(1), 1-61.
- Greene, W.H. (2012). Econometric Analysis (7th Edition), New Jersey: PrenticeHall.
- Henriques, I., Sadorsky, P. (2011). The Effects of Oil Price Volatility on Strategic Investment. Energy Economics, 33, 79-87.
- Lee, K., Kang, W., Ratti, R.A. (2011). Oil Price Shocks, Firm Uncertainty and Investment. Macroeconomic Dynamics, 53 (15), 416-436.
- Ratti, R.A., Seol, Y., Yoon, K.H. (2011). Relative Energy Price and Investment by European Firms. Energy Economics, 33, 721-731.
- Taşdemir, M. (2006). Üretim Fonksiyonu Tahminlerinde Karşılaşılan Problemler ve Eşanlı Denklem Sapması: Alternatif Tahmin Yöntemleri. Doğu Anadolu Bölgesi Araştırmaları, 23-31.
- Tatoğlu, F.Y. (2012). Panel Veri Ekonometrisi (1. Baskı), İstanbul: Beta Basım.
- Wooldridge, J. (2009). Introductory Econometrics: A Modern Approach(4th Edition), Canada: South Western Cengage Learning.
- http://immib.org.tr/tr/birliklerimiz-istanbul-kimyevi-maddeler-ve-mamulleri-ihr-birligi-istanbul kimyevi-maddeler-ve-mamulleri-ihr-birligi.html http://www.borsaistanbul.com/yatirimcilar/mali-tablolar-arsiv http://www.kap.gov.tr/ http://evds.tcmb.gov.tr/cgi-bin/famecgi http://www.tuik.gov.tr/PreTablo.do?alt_id=1029 http://www.kap.gov.tr/sirketler/islem-goren-sirketler/sektorler.aspx#İMALAT SANAYİİ|15
There are 12 citations in total.
Details
| Primary Language | English |
|---|---|
| Journal Section | Articles |
| Authors | |
| Publication Date | March 15, 2017 |
| Submission Date | September 7, 2016 |
| Published in Issue | Year 2017 Volume: 17 Issue: 1 |
This work is licensed under Creative Commons Attribution-NonCommercial 4.0 International License.