Crisis Effects on the Capital Structure Determinants for Manufacturing Companies
Küçük Resim Yok
Tarih
2013
Yazarlar
Dergi Başlığı
Dergi ISSN
Cilt Başlığı
Yayıncı
Igi Global
Erişim Hakkı
info:eu-repo/semantics/closedAccess
Özet
The purpose of the study is to investigate crisis effects on the capital structure determinants for manufacturing ;companies listed on the Istanbul Stock Exchange Market (ISE) in Turkey for the period 2005-2010. This period is divided into two parts: The period of 2005-2007 is used as pre-crisis period, and the period of 2008-2010 is used as a crisis period. The periods are compared to understand crisis effect on the capital structure determinants. The panel data analysis is used for this study. Short term, long term, and total debt ratios are used as a proxy for the analysis. The sample consists of 138 manufacturing companies in Turkey over the period of 2005-2010. As a result, manufacturing companies' capital structure is usually determined in accordance with the financial hierarchy theory. During financial crisis, the effects of capital structure determinants deviate from expectations.
Açıklama
Anahtar Kelimeler
Trade Credit; Corporate-Finance; Moral Hazard; Agency Costs; Cash Flow; Debt; Banking; Leverage; Choice; Equity
Kaynak
Technology And Financial Crisis: Economical And Analytical Views
WoS Q Değeri
N/A
Scopus Q Değeri
N/A
