Determinants of Investment in Turkey: A Firm-Level Investigation
| Autor: | Cihan Yalcin, Özgür Orhangazi, Armağan Gezici |
|---|---|
| Přispěvatelé: | Orhangazi, Özgür |
| Jazyk: | angličtina |
| Rok vydání: | 2019 |
| Předmět: |
050208 finance
Financing constraint Turkey media_common.quotation_subject 05 social sciences Monetary economics Investment (macroeconomics) Debt Capital accumulation 0502 economics and business Fixed investment Business 050207 economics Investment General Economics Econometrics and Finance Credit constraint Finance media_common Business fixed investment |
| Popis: | In this article we analyze the financing constraints-investment link for the case of Turkey between 1996 and 2013. As different from the existing studies on Turkey we use a more comprehensive data set that includes both publicly-traded and privately-owned firms and analyze the differences in constraints across small- and medium-sized firms and large firms. In addition to the commonly used cash-flow sensitivities we use alternative measures of constraints build from multiple firm specific variables. We find that small- and medium-sized manufacturing firms in Turkey are subject to financing constraints regardless of the measure used. |
| Databáze: | OpenAIRE |
| Externí odkaz: |
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