Firm leverage and investment decisions in an emerging market

Umutlu, Mehmet

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