Financial effects of the globalization on business and a survey of the textile industry firms in Uşak

In this study, the financial effects, due to the globalization, on the firms have been studied; and a survey has been completed on the textile firms located in Usak. Firstly, globalization and its fundamental tendencies and the effects of globalization on the entire company and its functionality have been studied. Furthermore, the subjects have also been investigated on the each function employed at the company. The effects of the development inside the company due to the globalization on the financial management of the company have been evaluated. Then, the new financial management techniques appeared during the globalization period has been reviewed. From this point of view, financial innovations, financial cooperation models for foreign investment and business expansion, new tendencies, and recent techniques on the finance area have been explained. Textile industry has been chosen as an application area for this study. The general state of the textile industry at world and Turkey was examineted, and the importance of the textile industry for Turkish economy was also explained. Finally, a questionnaire has been prepared and sent to fifty companies in order to investigate the financial aspects of the textile companies in Usak, and possible solutions for their finance problems have been recommended to the textile industry. The results of this study have shown that the companies were willing to follow the innovations on the financial techniques developed during the globalization period with their company; however, in practice were they using the conventional methods extensively.