The Impact of The Global Economic Crisis on Working Capital of Real Sector in Turkey

Abstract

Objective of this study is to reveal the impact of the recent global economic crisis, triggered in 2007 and unveiled in 2008, on the working capital of real sector in Turkey. Since it is obvious that ratios would help in such an analysis, we analyzed the current assets and liabilities related ratios, based on financial statements of Turkish real sector firms, quoted in the Istanbul Stock Exchange (ISE). Pre-crisis era has been compared with the crisis era, while the degrees of the affection of the real sector current assets and current liabilities have been tested through hypotheses, and two-tail-significance test has been conducted. The results of this study draw conclusions from an empirical investigation showing that, the 45 ISE companies chosen among others have been affected on a limited basis.