Özet:

Asset and liability dollarization of financial and non-financial sector organizations and consumers has substantially mounted in Turkey, and dollarization has become a significant factor in company financing decisions. The research examines the impact of dollarization propensity on financing preferences among manufacturing industry enterprises traded on Borsa Istanbul (BIST), and it tests whether asset and liability dollarization levels affect the type, maturity, and compliance with basic financing rules of the preferred source of business financing. The findings of the panel data analysis demonstrate that when a company's liability dollarization increases, it prefers long-term financial debt as a financing strategy, whereas companies with increasing asset dollarization choose equity financing over-borrowing. The firm market value (FPD) has a statistically significant and negative effect on all variables connected to borrowing and a substantial positive effect on the variable related to equity capital, according to the study's secondary findings. It has been discovered that an increase in the FPD value contributes positively to the enterprise's equity financing tendency. Business size has a significant positive effect on borrowing-related factors while having a large negative effect on equity-related variables. Borrowing and finance preferences are influenced by the size of the company. The study's findings support the restricted body of literature that suggests liability dollarization has a more significant impact on financial policy decisions than asset dollarization.

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