“…A unique example of a country where such uncertainties are observed is Turkey since the Great Recession of 2007-2009. With rapidly increasing urbanization rates (from 59 per cent in 1990 to 78 per cent in 2013) (Ceritoglu and Eren, 2014), two post-modern coups (28 February 1997 and27 April 2007), minor and major economic crises (Ozatay, 2000;Ozkan, 2005), regime changes, as well as a military coup attempt on 15 July 2015, Turkey is an emerging economy with economic and political uncertainties. In addition, the recent Syrian conflict, which also has significant spill-over effect on Turkey and its economy, as well as an influx of Syrian immigrants into Turkey have put pressure not only onto the country but also the enterprises (Akgündüz et al, 2018;Bozzoli et al, 2013;Maystadt and Verwimp, 2014).…”