Effects of economic crisis in 2001 on the financial structures of Turkish manufacturing sub-industries

ABSTRACT Effects of economic crisis in 2001 on the financial structures of Turkish manufacturing sub-industries The purpose of this study is to examine the effect of the economic crisis in 2001 on the financial structures of Turkish manufacturing sub-industries. Moreover in this study; there is a comparison between these sub-industries according to change in their financial structures due to the effect of economical crisis in 2001. Since it is not feasible to compare all firms in manufacturing sub-industries, only the firms which are the members of IMKB were selected for creating the sample. The study which can be summarized as the comparison of Turkish manufacturing sub-industries' financial structures between pre-crisis time and post-crisis time will cover a time period of 1998-2002. In the study, 16 financial ratios of 148 Turkish companies from 12 sub-industries were examined for a four years time period. The statistical method which is called "Wilcoxon Signed Rank Test" was applied to financial ratios of all sub-industries in order to find whether there is a meaningfull statistical difference in the financial structures of the sub-industries due to the effects of economical crisis. By using the statistical results of this study, the effect of 2001 economic crisis on the financial structures of Turkish manufacturing sub-industries was detected. Moreover, the other purpose of the study -as explained before- is to examine whether there is difference between the changes of financial structures of manufacturing sub-industries due to the effect of economical crisis in 2001. These differences were detected by using the same statistical results.