How do firms manage liquidity during currency crisis? The case of Turkey
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Tarih
2023
Yazarlar
Dergi Başlığı
Dergi ISSN
Cilt Başlığı
Yayıncı
Routledge Journals, Taylor & Francis Ltd
Erişim Hakkı
info:eu-repo/semantics/closedAccess
Özet
This study investigates how the 2018-currency crisis in Turkey, which exacerbated the borrowing costs, has affected the liquidity management of a sample of 186 Turkish listed firms. The results reveal that firms that relied heavily on short-term borrowing before the crisis period have responded to the crisis by reducing short-term borrowing and increasing internal cash. However, investment levels and the use and supply of trade credit have not been changed during the crisis. The results also show that the substitution into internal cash is significantly higher for small firms than for large firms.
Açıklama
Anahtar Kelimeler
[No Keyword]
Kaynak
Macroeconomics and Finance in Emerging Market Economies
WoS Q Değeri
N/A
Scopus Q Değeri
Q3
Cilt
16
Sayı
2
