Determinants of Turkish Firms’ Sales Revenue: An Empirical Analysis

This study investigates the key determinants of firm-level sales performance in Türkiye, based on data from the 2024 World Bank Enterprise Survey. Employing an ordinary least squares (OLS) regression model on a cross-sectional dataset comprising 1,000 firms, the analysis demonstrates how firm-specific, institutional, and managerial characteristics influence sales outcomes. The empirical findings indicate that firm age and size, as well as the educational attainment of managers and managerial experience, are positively and significantly associated with sales performance. Conversely, the presence of a female top manager is found to be negatively associated with firm sales, highlighting potential structural and institutional barriers that may hinder women in executive leadership positions. Moreover, research and development (R&D) spending, new product innovation, the use of foreign technology, and international certification exert negative or statistically weaker effects on sales performance. These findings underline the prominent role of human capital and organizational attributes in shaping firm productivity and competitiveness, offering meaningful implications for policymakers and business strategists within emerging market contexts. Keywords Sales Performance, Firm Characteristics, Research and Development (R&D) Activities, Innovation, World Bank Enterprise Survey (WBES), Türkiye.