Abstract:

The global economic crisis of 2008 has affected more or less every country. Governments have to take special precautions to ease the severe effects of the crisis in their financial and real sectors. The interest rate is an important indicator of economic stability and should be maintained at a level where the economic agents do not decide to postpone their growth plans. For this reason, this article will focus on the effects of the 2008 global economic crisis on the borrowing rates of Turkish manufacturing companies listed at the Bourse Istanbul (BIST) from a pre-crisis and crisis perspective. These effects are studied according to firm classifications based on age and cash holding behavior. Keywords: crisis, manufacturing companies, borrowing rates, cash holding

Keywords: