This study provides an empirical analysis of internationalization of Turkish manufacturing firms (TMFs) through foreign direct investment (FDI). Drawing from official sources, TMFs that engaged in FDI are identified. With an extensive literature review and by conducting interviews a survey questionnaire is developed and then pre-tested. After revision, the questionnaire is administered to a sample of 94 TMFs. About forty-five percent of these firms were among the largest companies of Turkey; and, rest of them was small and medium-sized firms. In exploring TMFs’ FDI involvement; first, relative strengths of these firms and the importance of the strengths in their internationalization are identified. Second, perceived performance of TMFs’ foreign equity ventures and its relationship with parent firm’s capabilities are determined. Third, strategic pull (host country-related) and push (home-country-related) motives of these firms are examined. Fourth, relevance and usefulness of Eclectic, Uppsala and Network theories for TMFs’ internationalization are investigated. In examining all of the mentioned issues, hypotheses are developed and tested; and, findings are reported and discussed.