Ownership, efficiency, and indebtedness: a comparison of private and public firms in Turkey
Author
Erkaya, B. Nilgün
Advisor
Atiyas, İzak
Date
1997Publisher
Bilkent University
Language
English
Type
ThesisItem Usage Stats
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Abstract
The public sector in Turkey which was founded in the early 1930’s for the
production of basic consumer goods has been accused of being a drain on public
resources and of accounting for the bulk of the public deficits since the early
1980’s. This thesis investigates if the effect of efficiency on the distribution of
bank credit is different for public and private firms. Firm level efficiencies are
estimated from production function and these estimated efficiencies are used to
estimate the capital structure equation. The results show that the efficiency of a
firm affects its access to bank credit negatively for public sector and positively for
private sector.