Year: 2026
Type: article
Abstract: This study examines the effects of geopolitical risks and economic crises on business management resilience in Türkiye for the 2010:01-2024:09 period.A unique time series, constructed using the ratio of closed to established businesses, measures resilience.Employing RALS-LM unit root and Hatemi-J Asymmetric Causality tests, the analysis identifies two structural breaks in the resilience series: late 2020, reflecting the pandemic's peak impact, and December 2021, marking post-pandemic adaptation amidst currency depreciation and economic uncertainties.The findings highlight an asymmetry in the relationship between resilience and geopolitical risks: rising risks weaken resilience, but subsequent decreases do not lead to immediate recovery.This persistent effect is linked to prolonged uncertainty, cautious business behavior, and time lags in rebuilding confidence.By uncovering the asymmetric impact of geopolitical risks and introducing a novel resilience measure, this study provides critical insights for understanding business vulnerabilities in crisis contexts.It also offers strategic guidance for enhancing resilience through targeted policies, particularly in periods of heightened risks.
Source: Gazi iktisat ve işletme dergisi
Authors: Aydın, Atilla, Çiğdem, Gülgün
Institution: İstanbul Gelişim Üniversitesi
Language: English
Subfield: Strategy and Management
Domain: Social Sciences
Open Access status: diamond
OpenAlex ID: W7167364698