Economic Impacts and Financial Strategies of Turkish Logistics' Companies During the COVID-19 Crisis

Abstract

Logistics' companies played a vital role in the supply and distribution of products in a timely and effective manner during the COVID-19 pandemic. The research sought to know how financial authorities in these companies managed the financial process and how they approached resolving issues due to the economic and financial problems experienced during the COVID-19 pandemic. Using data from 30 experts from the accounting-finance departments of logistics' companies, we found that the COVID-19 pandemic caused a decrease in revenues of the logistics' companies in Turkey and increased demands for loan payments before their maturity date. According to this study, the most important factors affecting logistics' companies during this health crisis were unpredictable changes in exchange rates, currency depreciation (Turkish lira), and increased rental fees. Through this research, we learned how the economic and financial problems experienced by logistics' companies were managed by financial experts during the COVID-19 pandemic.