Browsing by Author "Yalçın, Cihan"
Now showing items 1-2 of 2
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Determinants of Investment in Turkey: A Firm-Level Investigation
Authors:Gezici, Armağan; Orhangazi, Özgür; Yalçın, Cihan
Publisher and Date:(Routledge Journals Taylor & Francis Ltd, 2019)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. ...
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R&D Activity and Financing Constraints: Evidence from Turkey
Authors:Gezici, Armağan; Orhangazi, Özgür; Yalçın, Cihan
Publisher and Date:(Savez Ekonomista Vojvodine, 2020)We analyze the relationship between financing constraints and firms' R&D activity using a rich and comprehensive firm-level balance sheet and income statement data set of manufacturing firms in Turkey for the period 1996 to 2013. Using a firm-specific, time-varying financing constraints index, we find that financing constraints have a negative relationship with firms' R&D activity, after controlling for other determinants of R&D such as firm size, capital intensity and export market participation.