Analysis of the relationship between market share and technological development regarding companies: An application on Turkey
Yükleniyor...
Dosyalar
Tarih
2021
Yazarlar
Dergi Başlığı
Dergi ISSN
Cilt Başlığı
Yayıncı
Springer Nature
Erişim Hakkı
info:eu-repo/semantics/embargoedAccess
Özet
Firms have to boost their sales to increase their market shares in the sector in which they operate. This situation forces firms to allocate higher budgets for technological developments, and therefore, Research and Development (R&D). In this study, the relationships between the technological developments of the 11 firms that are constantly traded in Borsa Istanbul (BIST) Chemical, Petroleum, Plastic Index and the market shares of the firms are examined. For this purpose, analyses are carried out using data obtained over the period between 2009: Q3–2019: Q4. The market share variable for the firms is used as the dependent variable and calculated as the ratio of Net sales to Total Sector Sales. As for indicators of technological development, R&D expenditures, R&D intensity (R&D/Net Sales), and R&D ratio (R&D/Total Operating Expenses) are used as independent variables. The stationarity of all variables included in the analyses is determined utilizing Choi (J Int Money Financ. 20: 249–272, 2001) and Im et al. (J Econometr. 115: 53–74, 2003) unit root tests. Later on, the relationships among variables are examined using the unit fixed effects (FE) panel data model. As a result of the analysis, R&D expenditures are seen to significantly affect the market share positively. Besides, the effects of the companies’ R&D intensity and R&D ratios on the market shares of the companies are found to be significant but negative.
Açıklama
Anahtar Kelimeler
Kaynak
Contributions to Finance and Accounting
WoS Q Değeri
Scopus Q Değeri
Q4
Cilt
Part F209
