R&D activity and financing constraints: Evidence from Turkey
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, w...
| Main Authors: | , , |
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| Format: | Article |
| Language: | English |
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Economists' Association of Vojvodina
2020-01-01
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| Series: | Panoeconomicus |
| Subjects: | |
| Online Access: | http://www.doiserbia.nb.rs/img/doi/1452-595X/2020/1452-595X1800011G.pdf |
| _version_ | 1818282118006964224 |
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| author | Gezici Armağan Orhangazi Özgür Yalçın Cihan |
| author_facet | Gezici Armağan Orhangazi Özgür Yalçın Cihan |
| author_sort | Gezici Armağan |
| collection | DOAJ |
| description | 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. |
| first_indexed | 2024-12-13T00:15:55Z |
| format | Article |
| id | doaj.art-b2565f182cb443ca82f01eaa1099541d |
| institution | Directory Open Access Journal |
| issn | 1452-595X 2217-2386 |
| language | English |
| last_indexed | 2024-12-13T00:15:55Z |
| publishDate | 2020-01-01 |
| publisher | Economists' Association of Vojvodina |
| record_format | Article |
| series | Panoeconomicus |
| spelling | doaj.art-b2565f182cb443ca82f01eaa1099541d2022-12-22T00:05:47ZengEconomists' Association of VojvodinaPanoeconomicus1452-595X2217-23862020-01-0167455757110.2298/PAN170420011G1452-595X1800011GR&D activity and financing constraints: Evidence from TurkeyGezici Armağan0Orhangazi Özgür1Yalçın Cihan2Keene State College, USAKadir Has University, TurkeyCentral Bank of the Republic of Turkey, TurkeyWe 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.http://www.doiserbia.nb.rs/img/doi/1452-595X/2020/1452-595X1800011G.pdfr&d investmentfinancing constraintcredit constraintinternal fundscash flowturkey |
| spellingShingle | Gezici Armağan Orhangazi Özgür Yalçın Cihan R&D activity and financing constraints: Evidence from Turkey Panoeconomicus r&d investment financing constraint credit constraint internal funds cash flow turkey |
| title | R&D activity and financing constraints: Evidence from Turkey |
| title_full | R&D activity and financing constraints: Evidence from Turkey |
| title_fullStr | R&D activity and financing constraints: Evidence from Turkey |
| title_full_unstemmed | R&D activity and financing constraints: Evidence from Turkey |
| title_short | R&D activity and financing constraints: Evidence from Turkey |
| title_sort | r d activity and financing constraints evidence from turkey |
| topic | r&d investment financing constraint credit constraint internal funds cash flow turkey |
| url | http://www.doiserbia.nb.rs/img/doi/1452-595X/2020/1452-595X1800011G.pdf |
| work_keys_str_mv | AT geziciarmagan rdactivityandfinancingconstraintsevidencefromturkey AT orhangaziozgur rdactivityandfinancingconstraintsevidencefromturkey AT yalcıncihan rdactivityandfinancingconstraintsevidencefromturkey |