Firms' investment behavior in the financial crisis era: the Turkey case

Kaya, Şennur (2011) Firms' investment behavior in the financial crisis era: the Turkey case. [Thesis]

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The Global Financial Crisis really started to show its effects in The USA and its negative effects widened to most of the countries including Turkey. The effects of the financially originated mortgage crisis were extended to the non-financial sector. In Turkey, there were contractions especially in the manufacturing sector which is one of the most important economic activity in GDP. In the existing economic conditions, firms in the manufacturing sector change their investment behavior. This master thesis undertakes an econometric analysis to identify relation between investment and cash flow in the economic crisis period for the manufacturing firms. Empirical results are used to derive the relation between investment and cash flow in the crisis period and results are evaluated among different type of firms. The results indicate that as firms' investment is affected from their cash holding and their sales revenues in a positive way. However, the results are not robust to claim that the cash flow and investment behavior change among different groupings of the firms and in the crisis period.

Item Type:Thesis
Uncontrolled Keywords:Economic crisis. -- Manufacturing sector. -- Investment. -- Tobin's q. -- Crise. -- Econometrics. -- Economy. -- Econometric analysis. -- Economics. -- Financial models. -- Ekonomik kriz. -- İmalat sanayi. -- Yatırım. -- Tobin's q. -- Kriz. -- Ekonometri. -- Ekonomi. -- Ekonometrik analiz. -- Finansal tablolar. -- Finansal performans. -- Finansal kriz. -- Finansal modeller.
Subjects:H Social Sciences > HB Economic Theory
ID Code:21601
Deposited By:IC-Cataloging
Deposited On:30 May 2013 15:33
Last Modified:12 Jun 2013 10:51

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