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    The Effect of Intangible Assets Investments on Firms' Financial Performance in Turkey
    (Ege Univ, Fac Economics & Admin Sciences, 2016) Findik, Derya; Ocak, Murat
    The aim of this study is to determine the effect of intangible assets investment on firms' financial performance. In this study, we analyze the impact of intangible assets on firm performance in Turkey by using Borsa Istanbul (BIST) National All Shares Index (XUTUM) database for the years 2005-2013. Intangibles are classified into three categories; innovative property, computerized information and database, and economic competence. Innovative property includes patents, licences, films, rights, and research and development activities. Computer software, information systems, computer programmes, and customer databases are in the second category. The third group emphasizes the economic impact of the intangibles such as advances given, agreements, and special costs. We apply fixed effects approach in this study to estimate the impact of each intangible component on firm performance. We find out a positive relationship between return on assets and intangible assets. As far as the intangible component that generates an improvement in firm performance is considered, innovation property-especially rights and licences-comes to the fore.
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    Firm innovation strategy and university-industry collaboration: The Turkish case
    (Bilgesel Yayincilik San & Tic Ltd, 2014) Beyhan, Berna; Findik, Derya
    This study reveals the intensity of university-industry interactions in Turkey and aims to discuss the factors which influence the propensity of firms to collaborate with universities. Using firm level data collected by Turkish Statistical Institute in 2009, the propensity of firms to collaborate with universities is estimated by probit analysis. According to our results, innovation strategy of the firm is one of the main factors which drive firms to collaborate with universities in the innovation process. Firms that adopts an open innovation strategy, collaborate with external organizations and exploit external knowledge are open to collaboration with universities to generate innovations. These firms focus more on intramural R&D investments. The final remark is that the probability of collaborating with universities increases when firms benefit from public funding to perform R&D and innovation activities. This highlights the importance of policies and strategies to facilitate university-industry collaboration.
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    The Impact of Intangible Assets and Sub-Components of Intangible Assets on Sustainable Growth and Firm Value: Evidence from Turkish Listed Firms
    (Mdpi, 2019) Ocak, Murat; Findik, Derya
    This study explores the effect of intangible assets and sub-components of intangible assets on sustainable growth and firm value in Turkey. The cumulative (i.e., aggregative) value of intangible assets of firms and sub-components of intangible assets were used as test variables in the current study. Further, intangible assets of the firms were divided into three sub-components using the classification of Corrado, Hulten and Sichel, namely computerized information and database, innovative property, and economic competence. Firms listed on Borsa stanbul were analyzed to test the hypotheses. Two different measures of sustainable growth of firms and unique measure of firm value were used as dependent variables. The final sample includes 1353 observations for nine years between 2005-2013 in Turkey. Ordinary least square (OLS) and Heckman two-stage estimation procedures were employed to test the hypotheses. Estimation results of OLS and Heckman two-stage procedures show that the cumulative value of intangible assets affect the sustainable growth rates of firms and firm value positively. When the cumulative value of intangible assets was classified into three sub-components, both computerized information and database and economic competence impact the sustainable growth rates of firms and firm value.