Capital structure decisions of Turkish firms

The Turkish Economy: The Real Economy, Corporate Governance and Reform

Volumn , Issue , 2006, Pages 149-171

  Güney, Yilmaz ^a   Özkan, Aydin ^b   Yalçiner, Kürvat ^c  

^a UNIVERSITY OF SURREY   (United Kingdom)

^b UNIVERSITY OF YORK   (United Kingdom)

^c GAZI UNIVERSITY   (Turkey)

Author keywords

[No Author keywords available]

Indexed keywords

EID: 84908922899     PISSN: None     EISSN: None     Source Type: Book    
DOI: 10.4324/9780203018439     Document Type: Chapter

References (42)

1. Alderson , M.J. andB.L.Betker(1995) 'Liquidation costs and capital structure', Journal of Financial Economics , 39, 45-69.
2. Arellano , M. andS.Bond(1991)'Some tests of specification for panel data: Monte CarloEvidence and an application to employment equations', Review of Economics Studies , 58, 277-297.
3. Baltagi , B.H. (2001) Econometric Analysis of Panel Data, 2nd edition (Wiley, Chichester).
4. Barclay , M.J. andC.W.Smith(1995a)'The maturity structure of corporate debt', Journalof Finance , 50, 609-632.
5. Barclay , M.J. andC.W.Smith(1995b) The priority structure of corporate liabilities, Journalof Finance , 50, 899-917.
6. Berger , A. andG.Udell,(1994)'Relationship lending and lines of credit in small firmFinance', Journal of Business , 68, 351-381.
7. Blundell , R.W. andS.R. Bond S.R. d(1998) 'Initial conditions and moment restrictions indynamic panel data models', Journal of Econometrics , 87, 115-143.
8. Booth , L. ,V.Aivazian,A.Demirgüç-KuntandV.Maksimovic(2001)'Capital structure in developing countries', Journal of Finance , 56, 87-130.
9. Chung , K.H. (1993)'Asset characteristics and corporate debt policy: an empirical test', Journal of Business Finance and Accounting , 20, 83-98.
10. Demirgüç-Kunt , A. andV. Maksimovic V. aksimovic(1999)'Institutions, financial markets and firmdebt maturity', Journal of Financial Economics , 54, 295-336.
11. Detragiache , E. (1994) ' Public versus private borrowing: a theory with implications for bankruptcy reform ', Journal of Financial Intermediation , 3, 327-354.
12. Ferri , M.G. andW.H. Jones W.H. es(1979)'Determinants of financial structure: a new methodological approach', Journal of Finance , 34, 631-644.
13. Fischer , R.H. ,R.HeinkelandJ.Zechner(1989)'Dynamic capital structure choice: theory and tests', Journal of Finance , 44, 19-40.
14. Gul , F.A. (1999) 'Growth opportunities, capital structure and dividend policies in Japan', Journal of Corporate Finance , 5, 141-168.
15. Harris , M. andA. Raviv A. aviv(1990) 'Capital structure and the informational role of debt', Journal of Finance , 45, 321-349.
16. Harris , M .and A.Raviv(1991)'The theory of capital structure', Journal of Finance , 46, 297-355.
17. Homaifar , G. ,J.ZietzandO.Benkato(1994)'An empirical model of capital structure: some new evidence', Journal of Business Finance and Accounting , 21 1-14.
18. Jalilvand , A. and R.S. Harris , (1984 Corporate behaviour in adjusting to capital structure and dividend targets: an econometric study Journal of Finance 39, 127-145.
19. Jensen , M.C. (1986) 'Agency costs of free cash flow, corporate finance and takeovers', American Economic Review , 76, 323-339.
20. Johnson , A.S. (1997) 'An empirical analysis of the determinants of corporate debtownership structure', Journal of Financial and Quantitative Analysis , 32, 47-69.
21. Johnson , A.S. (1998) The effect of bank debt on optimal capital structure FinancialManagementtonoptimalcapitalstructure.Financial Management, 27, 47-56.
22. Kester , C.W. (1986) Capital and ownership structure: a comparison of United States andJapanese manufacturing corporations', Financial Management , 15, 97-113.
23. Kim , W.S. andE.H.Sorensen(1986)'Evidence on the impact of the agency costs of debton corporate debt policy', Journal of Financial and Qualitative Analysis , 21, 131-144.
24. Porta , R. ,F.Lopez-de- Shleifer A. ShleiferandR.W.Vishny(1998)'Law and finance', Journal of Political Economy , 106, 1113-1155.
25. Porta , R. ,F.Lopez-de-de-Silanes and A. Shleifer (1999)'Corporate ownership around the world', Journal of Finance , 54, 471-518.
26. Long , M. andI. Malitz I. alitz(1985) 'The investment financing nexus: some empirical evidence', Midland Corporate Finance Journal , 3 53-59.
27. Marsh , P. (1982) 'The choice between debt and equity: an empirical study', Journal of Finance , 37, 121-144.
28. Modigliani , F. andM.H. Miller M.H. ler(1958) 'The cost of capital, corporation finance and the theory of investment', American Economic Review , 48, 261-297.
29. Myers , S.C. (1977) 'Determinants of corporate borrowing', Journal of Financial Economics , 5, 147-175.
30. Myers , S.C. (1984)'The capital structure puzzle', Journal of Finance , 39, 575-592.
31. Myers , S.C. andN.S.Majluf(1984)'Corporate financing and investment decisions whenfirms have information that investors do not have', Journal of Financial Economics , 13, 187-221.
32. Özkan , A. (1996) 'Corporate bankruptcies, liquidation costs and the role of banks', The Manchester School , 64, 104-119.
33. Özkan , A. (2000) 'An empirical analysis of corporate debt maturity structure', European Financial Management , 6, 197-212.
34. Özkan , A. (2001) 'Determinants of capital structure and adjustment to long run target:evidence from UK company panel data', Journal of Business Finance and Accounting , 28, 175-198.
35. Rajan R.G. andL.Zingales(1995)'What do we know about capital structure? Someevidence from international data', Journal of Finance , 50, 1421-1460.
36. Shleifer , A. andR.W. Vishny R.W. hny(1992) 'Liquidation values and debt capacity: a marketequilibrium approach', Journal of Finance , 47, 1343-1366.
37. Shyam-Sunder , L. andS.C.Myers(1999)'Testing static tradeoff against pecking ordermodels of capital structure', Journal of Financial Economics , 51, 219-244.
38. Smith , C.W. andR.L. Watts R.L. ts(1992) 'The investment opportunity set and corporate financing, dividend, and compensation policies', Journal of Financial Economics , 32, 263-292.
39. Stohs , M.H. andD.C.Mauer(1996)'The determinants of corporate debt maturitystructure', Journal of Business , 69, 279-312.
40. Titman , S. andR.Wessels(1988)'The determinants of capital structure choice', Journal of Finance , 43, 1-19.
41. Whited , T. (1992)'Debt, liquidity constraints, and corporate investment: evidence from panel data', Journal of Finance , 47, 1425-1460.
42. Williamson , O. (1988)'Corporate finance and corporate governance', Journal of Finance , 43, 567-591.