Abstract:

Small   and   Medium   Sized   Enterprises   (SMEs)   operating   in   Turkey   have   a   crucial   role   in  economic  and  social  development  of  the  country.  SMEs  are  one  of  the  vital  players  of  the  economic   life   by   making   contributions   to   the   production,   investment,   export   and  employment  figures  of  Turkey.  Besides,  SMEs  have  an  important  function  in  the  regional  progress  as  they  spread  all  around  the  country.  However,  SMEs  are  not  efficient  enough  in   their   operations   as   they   have   many   problems   causing   from   internal   processes   and  external  factors.  One  of  the  important  problems  faced  by  SMEs  is  the  financing  problem.  In   this   paper,   our   subject   is   to   determine   the   capital   structures   of   SMEs   and   the  differentiation  of  the  capital  structures  according  to  the  sizes  and  sectors  of  the  firms.  In  this  article,  empirical  results  of  a  survey  applied  to  816  SMEs  operating  in  Istanbul  are  evaluated.   The   differences   between   the   means   of   the   capital   structures   are   tried   to  detected  by  using  ANOVA  methodology.  According  to  the  results  of  the  survey,  there  is  a  significant  difference  between  the  capital  structures  of  micro  and  small  sized  enterprises.  Micro   sized   enterprises   finance   their   operations   with   more   equity   compared   to   small  sized   firms.   However,   there   is   found   to   be   no   significant   differentiation   of   capital  structures  according  to  the  sectors  of  SMEs.             TÜRKİYE’DE  KÜÇÜK  VE  ORTA  BÜYÜKLÜKTEKİ  İŞLETMELERİN  SERMAYE  YAPISI  VE  ÖLÇEK  VE  SEKTÖRE  GÖRE  SERMAYE  YAPISININ  FARKLILAŞMASI:  İSTANBUL’DA  FAALİYET  GÖSTEREN  KOBİ’LERE  UYGULANAN  BİR  ANKET  ÇALIŞMASININ  DEĞERLENDİRİLMESİ

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