Gebizlioğlu, Ömer LütfiRamzan, ImranGebizlioglu, Omer Lutfi2024-06-232024-06-23202302254-4380https://doi.org/10.17811/ebl.12.4.2023.356-365https://hdl.handle.net/20.500.12469/5712Ramzan, Imran/0000-0003-0012-1657Exports at firm level improve the financial performance and contribute to economic growth. Exporting activities can require additional financing and pose a challenge to manufacturing firms, affecting their managerial financing decisions. This study explores the impact of export intensity on leverage using a dataset of manufacturing firms. The results of two-step system GMM reveal that export intensity has a negative influence on leverage. We find that a firm size positively impacts leverage, while cash holding has a negative connection with leverage. Fi-nally, we note that board size exhibits a positive relationship with leverage. These findings suggest important policy implications for export promotion, specifically for a small open econ-omy. The results are robust to different sensitivity checks.eninfo:eu-repo/semantics/openAccessLeverageExport intensityFinancial policyGMMArticle356365412WOS:00112670320000410.17811/ebl.12.4.2023.356-3652-s2.0-85179682197N/AQ3