Determinants of Investment in Turkey: A Firm-Level Investigation
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Date
2019
Authors
Journal Title
Journal ISSN
Volume Title
Publisher
Routledge Journals Taylor & Francis Ltd
Abstract
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.
Description
Keywords
Business fixed investment, Capital accumulation, Credit constraint, Debt, Financing constraint, Investment, Turkey
Turkish CoHE Thesis Center URL
Citation
9
WoS Q
Q2
Scopus Q
Q1
Source
Volume
55
Issue
6
Start Page
1405
End Page
1416