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Firm leverage and investment decisions in an emerging market

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dc.contributor.author Umutlu, Mehmet
dc.date.accessioned 2016-06-14T10:46:04Z
dc.date.available 2016-06-14T10:46:04Z
dc.date.issued 2010-08
dc.identifier.citation Umutlu, M. (2010). Firm leverage and investment decisions in an emerging market. Qality&Quantity, 44(5), 1005-1013. http://dx.doi.org/10.1007/s11135-009-9250-y tr_TR
dc.identifier.issn 0033-5177
dc.identifier.uri http://hdl.handle.net/20.500.12416/1103
dc.description.abstract In this study, the effect of leverage on investment is analyzed by employing panel data methods for the Turkish non-financial firms that are quoted on Istanbul Stock Exchange. For one-way error component models, it is shown that there is a negative impact of leverage on investment for only firms with low Tobin's Q. These results are in conformity with the previous literature and agency theories of corporate finance stating that leverage has a disciplining role for firms with low growth opportunities. However, when the model is extended to include the time effects in a two-way error component model, the relation between leverage and investment disappears tr_TR
dc.language.iso eng tr_TR
dc.publisher Springer tr_TR
dc.relation.isversionof 10.1007/s11135-009-9250-y tr_TR
dc.rights info:eu-repo/semantics/closedAccess
dc.subject Leverage tr_TR
dc.subject Investment tr_TR
dc.subject Panel Data tr_TR
dc.subject Emerging Markets tr_TR
dc.title Firm leverage and investment decisions in an emerging market tr_TR
dc.type article tr_TR
dc.relation.journal Qality&Quantity tr_TR
dc.contributor.authorID 38254 tr_TR
dc.identifier.volume 44 tr_TR
dc.identifier.issue 5 tr_TR
dc.identifier.startpage 1005 tr_TR
dc.identifier.endpage 1013 tr_TR
dc.contributor.department Çankaya Üniversitesi, İktisadi İdari Bilimler Fakültesi, İşletme Bölümü tr_TR


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