Araştırma Makalesi
BibTex RIS Kaynak Göster
Yıl 2019, Cilt: 10 Sayı: 1, 1 - 6, 30.12.2019

Öz

Kaynakça

  • Abdulsaleh, A. M., & Worthington, A. C. (2013). Small and medium-sized enterprises financing: A review of literature. International Journal of Business and Management, 8(14), 36–54. Retrieved from http://www.ccsenet.org/journal/index.php/ijbm/article/view/26253
  • Abor, J. &Biekpe, N. (2009). How do we explain the capital structure of SMEs in sub-Saharan Africa? Evidence from Ghana. Journal of Economic Studies, 36(1), 83-97. doi:10.1108/01443580910923812
  • Abor, J. (2008). Determinants of the capital structure of Ghanaian firms. African Economic Research Consortium Research Papers. 176, 2-40. Retrieved from https://www.africaportal.org/documents/5813/RP176.pdf
  • Ayadi, R. (2005). The new Basel capital accord and SME financing - SMEs and the new rating culture. Brussels, Belgium: Centre for European Policy Studies.
  • Beck, T., Demirgüç-Kunt, A. & Martínez Pería, M. S. (2008). Bank financing for small and medium enterprises around the world: drivers, obstacles, business models, and lending practices (Policy Research Working Paper Series No. 4785). Retrieved from http://documents.worldbank.org/curated/en/706131468159334938/Bank-financing-for-smes-around-the-world-drivers-obstacles-business-models-and-lending-practices
  • Beck, T., Demirguc-Kunt A. &Maksimovic, V. (2004). Bank competition and access to finance: International evidence. Journal of Money, Credit, and Banking, 36(3), 627-648. Retrieved from https://econpapers.repec.org/article/mcbjmoncb/v_3a36_3ay_3a2004_3ai_3a3_3ap_3a627-48.htm
  • Boachie-Mensah, F. O. &Marfo-Yiadom, E. (2006). Entrepreneurship and small business management. Accra, Ghana: University Press. Cakova, U. and Önder, Z. (2011). Capital structure determinants of Turkish small and medium enterprises in manufacturing industry (Unpublished Master thesis). Bilkent University. Ankara, Turkey.
  • Cassar, G. & Holmes, S. (2003). Capital structure and financing of small and medium enterprises: Australian evidence. Journal of Accounting and Finance, 43(2), 123–147. doi: 10.1111/1467-629X.t01-1-00085
  • Cassar, G. (2004). The financing of business start-ups. Journal of Business Venturing, 19, 261-283. Retrieved from https://www.sciencedirect.com/science/article/abs/pii/S0883902603000296
  • De la Torre, A., Martinez Peria, M. S. &Schmukler, S. (2010). Bank involvement with small and medium enterprises: Beyond relationship lending. Journal of Banking and Finance, 34, 2280–2293. Retrieved from http://siteresources.worldbank.org/DEC/Resources/Bank_Involvement_with_SMEs.pdf
  • Demirgüç-Kunt, A., &Klapper, L. (2012). Measuring financial inclusion: the global Findex database. (Policy Research Working Paper No. 6025). Retrieved from https://openknowledge.worldbank.org/handle/10986/6042
  • Gajurel, D. P. (2005). Capital structure management in Nepalese enterprises (Unpublished Master thesis). Tribhuvan University, Kathmandu, Nepal. Global Competitiveness Report. (2018). Chapter 2: Regional and Country Analysis. Retrieved from https://www.weforum.org/reports/the-global-competitveness-report-2018
  • Jenkins, H., & Hussain, M. (2014). An analysis of the macroeconomic conditions required for small and medium enterprises` lending: The case of Turkey. Retrieved from https://cri-world.com/publications/qed_dp_261.pdf
  • Kira, A. R. (2013). Determinants of financing constraints in East African countries’ small and medium enterprises. International Journal of Business and Management, 8(8), 49–68. Retrieved from https://pdfs.semanticscholar.org/7952/de10a66c1b9ce97f9be585486e04c6312e49.pdf
  • Kraemer-Eis, H. & Lang, F. (2012). The importance of leasing for small and medium enterprises` finance. (European Investment Fund Working Paper No. 2012/2015). Retrieved from https://www.true-sale-international.de/fileadmin/tsi_downloads/TSI_kompakt/eif_euromoney_importance-of-leasing-for-smes_fv.pdf
  • KüçükveOrtaÖlçekliİşletmeleriGeliştirmeveDesteklemeİdaresiBaşkanlığı. (2012). Enhancing the competitiveness of SMEs In Turkey country report. Retrieved from http://en.kosgeb.gov.tr/Content/Upload/Dosya/SMESTRATEGYANDACTIONPLAN.docx
  • Mac an Bhaird, C. (2010). Resourcing small and medium sized enterprises: A financial growth life cycle approach. Heidelberg, Germany: Physica-Verlag.
  • Mahmud, S. & Akin, T. (2019) SMEs’ access to finance and choice of capital structure in Turkey. EgeAkademikBakışDergisi, 19(2), 277-291. Retrieved from https://dergipark.org.tr/en/pub/eab/issue/44747/521579
  • Organization for Economic Co-operation and Development. (2004). Small and medium sized enterprises statistics: Towards a more systematic statistical measurement of SME behaviour. Retrieved from http://www.oecd.org/corporate/ca/corporategovernanceprinciples/31557724.pdf
  • Organization for Economic Co-operation and Development. (2016). Financing small and medium sized enterprises and entrepreneurs. Retrieved from https://www.oecd-ilibrary.org/industry-and-services/financing-smes-and-entrepreneurs_23065265
  • Organization for Economic Co-operation and Development. (2018). Education at a glance 2018. Retrieved from https://doi.org/10.1787/eag-2018-en
  • Ozar, S. (2004). Micro and small enterprises in Turkey: Uneasy development. (Research Report No. 0420). Retrieved from https://pdfs.semanticscholar.org/8625/4a390985505c12a157d084f04606b13764f8.pdf
  • Ozer, A. C. (2016). A study on small and medium sized enterprises in Turkey with alternate financial sources from developing countries. Journal of Accounting & Marketing, 5(1), 147-148. doi:10.4172/2168-9601.1000148
  • Rocha, R., Farazi, S., Khouri, R. & Pearce, D. (2011). The status of bank lending to small and medium sized enterprises in the Middle East and North Africa region: The results of a joint survey of the union of Arab Bank and the World Bank. (World Bank Policy Research Working Paper No. 5607). Retrieved from http://documents.worldbank.org/curated/en/443431468046484153/The-status-of-bank-lending-to-SMES-in-the-Middle-East-and-North-Africa-region-the-results-of-a-joint-survey-of-the-Union-of-Arab-Bank-and-the-World-Bank
  • Sarapaivanich, N. (2006). The effect of demand-side factors on accessing external finance and performance of small and medium sized enterprises in Thailand (Unpublished PhD thesis). University of New England, Armidale, Australia.
  • Seker, M., & Correa, P.G. (2010). Obstacles to growth for small and medium enterprises in Turkey. Retrieved from http://documents.worldbank.org/curated/en/162961468318313606/Obstacles-to-growth-for-small-and-medium-enterprises-in-Turkey
  • Titman, S. & Wessels, R. (1988). The determinants of capital structure choice. Journal of Finance, 43(1), 1-19. Retrieved from https://pdfs.semanticscholar.org/c31e/2cbdd2b53bc1bd5682cec8a5577bbc4789ab.pdf
  • Turkish Statistical Institute. (2013). Small and medium size enterprises statistics-2013. Retrieved from http://www.kobi.org.tr/index.php/tanimi/stats
  • Wignaraja, G. &Jinjarak, Y. (2015). Why small and medium sized enterprises do not borrow from banks? Evidence from People’s Republic of China and Southeast Asia. (ADBI Working Paper No. 509). Retrieved from http://www.adbi.org/files/2015.01.09.wp509.why.do.sme.not.borrow. from.banks.pdf
  • Willis-Ertür, S. & Vader, J. (2015). More than meets the evil eye: Business practices and constraints of SMEs in Turkey. Medford, Oregon: Tufts University.

THE ACCESS TO FINANCE BY SMEs IN TURKEY AND THE EU: A COMPARATIVE STUDY

Yıl 2019, Cilt: 10 Sayı: 1, 1 - 6, 30.12.2019

Öz

Purpose-Access to finance is one of the major factors in the growth of Small and Medium-sized Enterprises (SMEs), which comprise 99% of companies in Turkey and the EU and have a large impact on GDP and unemployment. Therefore, the purpose of this study is to compare status and changes in the access to finance of SMEs in Turkey and the EU. And additionally, to evaluate the access to finance of Turkish SMEs according to their associate status, location, business area, exports, liquid assets, and establishment time. Methodology- In developing the questionnaire used in this survey, some of the questions from the Survey on the Access to Finance of Enterprises (SAFE 2017) conducted in October 2017 on the EU SMEs, were modified. The questionnaire was sent to SMEs in Turkey through KOSGEB (Small and Medium-Sized Enterprises Development and Support Agency (KüçükveOrtaÖlçekliİşletmeleriGeliştirmeveDesteklemeİdaresiBaşkanlığı)) via e-mail. The response percentages obtained were compared with the response percentages from SAFE 2017. Also using analyses such as chi-square and multiple regression (SPSS) significant relations between answers of Turkish SMEs were determined. Findings- According to the results of the questionnaire conducted and SAFE 2017, the second biggest issue for SMEs in Turkey is the access to finance, while this issue is the least important for SMEs in the EU; the increase in availability of financial sources for SMEs in the EU is much larger and they use them mostly for new investments, while SMEs in Turkey use them mostly for inventories; expenses for SMEs in Turkey such as labor and raw material cost increased more, which probably led to a decrease in profit and an increase in debts. According to multiple regression and chi-square analysesata5% significance level, it is found that the amount of credit received by SMEs in Turkey, and the usage of loans from family and friends are significantly affected by the age, number of employees, turnover level, export level, business area, and geographical location of the company. The usage of government loans and incentives by SMEs in Turkey is significantly affected by age, the number of employees, and the export level of the company. The usage of bank loans by SMEs in Turkey is significantly affected by the age, turnover level, export level, and the number of employees of the company. The usage of leasing and trade credits by SMEs in Turkey is significantly affected by the age, the number of employees, turnover level, export level, business area, geographical location, and the partnership status of the company. Conclusion-There is a limited number of studies focusing on access to finance for SMEs in Turkey. They mostly tend to concentrate only on problematic supply-side factors and miss to show the significant relationship between demand-side factors, meaning SMEs' characteristics, and access to finance. At the same time, to our best knowledge, there is not any study directly comparing Turkish SMEs to the European SMEs except SAFE reports, which take only 300 SMEs in Turkey into consideration. On the other hand, this study takes 1,518 SMEs in Turkey into consideration and compares SMEs in Turkey and the EU according to their characteristics and access to finance.

Kaynakça

  • Abdulsaleh, A. M., & Worthington, A. C. (2013). Small and medium-sized enterprises financing: A review of literature. International Journal of Business and Management, 8(14), 36–54. Retrieved from http://www.ccsenet.org/journal/index.php/ijbm/article/view/26253
  • Abor, J. &Biekpe, N. (2009). How do we explain the capital structure of SMEs in sub-Saharan Africa? Evidence from Ghana. Journal of Economic Studies, 36(1), 83-97. doi:10.1108/01443580910923812
  • Abor, J. (2008). Determinants of the capital structure of Ghanaian firms. African Economic Research Consortium Research Papers. 176, 2-40. Retrieved from https://www.africaportal.org/documents/5813/RP176.pdf
  • Ayadi, R. (2005). The new Basel capital accord and SME financing - SMEs and the new rating culture. Brussels, Belgium: Centre for European Policy Studies.
  • Beck, T., Demirgüç-Kunt, A. & Martínez Pería, M. S. (2008). Bank financing for small and medium enterprises around the world: drivers, obstacles, business models, and lending practices (Policy Research Working Paper Series No. 4785). Retrieved from http://documents.worldbank.org/curated/en/706131468159334938/Bank-financing-for-smes-around-the-world-drivers-obstacles-business-models-and-lending-practices
  • Beck, T., Demirguc-Kunt A. &Maksimovic, V. (2004). Bank competition and access to finance: International evidence. Journal of Money, Credit, and Banking, 36(3), 627-648. Retrieved from https://econpapers.repec.org/article/mcbjmoncb/v_3a36_3ay_3a2004_3ai_3a3_3ap_3a627-48.htm
  • Boachie-Mensah, F. O. &Marfo-Yiadom, E. (2006). Entrepreneurship and small business management. Accra, Ghana: University Press. Cakova, U. and Önder, Z. (2011). Capital structure determinants of Turkish small and medium enterprises in manufacturing industry (Unpublished Master thesis). Bilkent University. Ankara, Turkey.
  • Cassar, G. & Holmes, S. (2003). Capital structure and financing of small and medium enterprises: Australian evidence. Journal of Accounting and Finance, 43(2), 123–147. doi: 10.1111/1467-629X.t01-1-00085
  • Cassar, G. (2004). The financing of business start-ups. Journal of Business Venturing, 19, 261-283. Retrieved from https://www.sciencedirect.com/science/article/abs/pii/S0883902603000296
  • De la Torre, A., Martinez Peria, M. S. &Schmukler, S. (2010). Bank involvement with small and medium enterprises: Beyond relationship lending. Journal of Banking and Finance, 34, 2280–2293. Retrieved from http://siteresources.worldbank.org/DEC/Resources/Bank_Involvement_with_SMEs.pdf
  • Demirgüç-Kunt, A., &Klapper, L. (2012). Measuring financial inclusion: the global Findex database. (Policy Research Working Paper No. 6025). Retrieved from https://openknowledge.worldbank.org/handle/10986/6042
  • Gajurel, D. P. (2005). Capital structure management in Nepalese enterprises (Unpublished Master thesis). Tribhuvan University, Kathmandu, Nepal. Global Competitiveness Report. (2018). Chapter 2: Regional and Country Analysis. Retrieved from https://www.weforum.org/reports/the-global-competitveness-report-2018
  • Jenkins, H., & Hussain, M. (2014). An analysis of the macroeconomic conditions required for small and medium enterprises` lending: The case of Turkey. Retrieved from https://cri-world.com/publications/qed_dp_261.pdf
  • Kira, A. R. (2013). Determinants of financing constraints in East African countries’ small and medium enterprises. International Journal of Business and Management, 8(8), 49–68. Retrieved from https://pdfs.semanticscholar.org/7952/de10a66c1b9ce97f9be585486e04c6312e49.pdf
  • Kraemer-Eis, H. & Lang, F. (2012). The importance of leasing for small and medium enterprises` finance. (European Investment Fund Working Paper No. 2012/2015). Retrieved from https://www.true-sale-international.de/fileadmin/tsi_downloads/TSI_kompakt/eif_euromoney_importance-of-leasing-for-smes_fv.pdf
  • KüçükveOrtaÖlçekliİşletmeleriGeliştirmeveDesteklemeİdaresiBaşkanlığı. (2012). Enhancing the competitiveness of SMEs In Turkey country report. Retrieved from http://en.kosgeb.gov.tr/Content/Upload/Dosya/SMESTRATEGYANDACTIONPLAN.docx
  • Mac an Bhaird, C. (2010). Resourcing small and medium sized enterprises: A financial growth life cycle approach. Heidelberg, Germany: Physica-Verlag.
  • Mahmud, S. & Akin, T. (2019) SMEs’ access to finance and choice of capital structure in Turkey. EgeAkademikBakışDergisi, 19(2), 277-291. Retrieved from https://dergipark.org.tr/en/pub/eab/issue/44747/521579
  • Organization for Economic Co-operation and Development. (2004). Small and medium sized enterprises statistics: Towards a more systematic statistical measurement of SME behaviour. Retrieved from http://www.oecd.org/corporate/ca/corporategovernanceprinciples/31557724.pdf
  • Organization for Economic Co-operation and Development. (2016). Financing small and medium sized enterprises and entrepreneurs. Retrieved from https://www.oecd-ilibrary.org/industry-and-services/financing-smes-and-entrepreneurs_23065265
  • Organization for Economic Co-operation and Development. (2018). Education at a glance 2018. Retrieved from https://doi.org/10.1787/eag-2018-en
  • Ozar, S. (2004). Micro and small enterprises in Turkey: Uneasy development. (Research Report No. 0420). Retrieved from https://pdfs.semanticscholar.org/8625/4a390985505c12a157d084f04606b13764f8.pdf
  • Ozer, A. C. (2016). A study on small and medium sized enterprises in Turkey with alternate financial sources from developing countries. Journal of Accounting & Marketing, 5(1), 147-148. doi:10.4172/2168-9601.1000148
  • Rocha, R., Farazi, S., Khouri, R. & Pearce, D. (2011). The status of bank lending to small and medium sized enterprises in the Middle East and North Africa region: The results of a joint survey of the union of Arab Bank and the World Bank. (World Bank Policy Research Working Paper No. 5607). Retrieved from http://documents.worldbank.org/curated/en/443431468046484153/The-status-of-bank-lending-to-SMES-in-the-Middle-East-and-North-Africa-region-the-results-of-a-joint-survey-of-the-Union-of-Arab-Bank-and-the-World-Bank
  • Sarapaivanich, N. (2006). The effect of demand-side factors on accessing external finance and performance of small and medium sized enterprises in Thailand (Unpublished PhD thesis). University of New England, Armidale, Australia.
  • Seker, M., & Correa, P.G. (2010). Obstacles to growth for small and medium enterprises in Turkey. Retrieved from http://documents.worldbank.org/curated/en/162961468318313606/Obstacles-to-growth-for-small-and-medium-enterprises-in-Turkey
  • Titman, S. & Wessels, R. (1988). The determinants of capital structure choice. Journal of Finance, 43(1), 1-19. Retrieved from https://pdfs.semanticscholar.org/c31e/2cbdd2b53bc1bd5682cec8a5577bbc4789ab.pdf
  • Turkish Statistical Institute. (2013). Small and medium size enterprises statistics-2013. Retrieved from http://www.kobi.org.tr/index.php/tanimi/stats
  • Wignaraja, G. &Jinjarak, Y. (2015). Why small and medium sized enterprises do not borrow from banks? Evidence from People’s Republic of China and Southeast Asia. (ADBI Working Paper No. 509). Retrieved from http://www.adbi.org/files/2015.01.09.wp509.why.do.sme.not.borrow. from.banks.pdf
  • Willis-Ertür, S. & Vader, J. (2015). More than meets the evil eye: Business practices and constraints of SMEs in Turkey. Medford, Oregon: Tufts University.
Toplam 30 adet kaynakça vardır.

Ayrıntılar

Birincil Dil İngilizce
Konular Finans, İşletme
Bölüm Makaleler
Yazarlar

Muhammed Kahraman Bu kişi benim 0000-0003-4631-6310

Arzu Tektas 0000-0003-4631-6310

Ali Coskun 0000-0003-1723-1107

Yayımlanma Tarihi 30 Aralık 2019
Yayımlandığı Sayı Yıl 2019 Cilt: 10 Sayı: 1

Kaynak Göster

APA Kahraman, M., Tektas, A., & Coskun, A. (2019). THE ACCESS TO FINANCE BY SMEs IN TURKEY AND THE EU: A COMPARATIVE STUDY. PressAcademia Procedia, 10(1), 1-6.
AMA Kahraman M, Tektas A, Coskun A. THE ACCESS TO FINANCE BY SMEs IN TURKEY AND THE EU: A COMPARATIVE STUDY. PAP. Aralık 2019;10(1):1-6.
Chicago Kahraman, Muhammed, Arzu Tektas, ve Ali Coskun. “THE ACCESS TO FINANCE BY SMEs IN TURKEY AND THE EU: A COMPARATIVE STUDY”. PressAcademia Procedia 10, sy. 1 (Aralık 2019): 1-6.
EndNote Kahraman M, Tektas A, Coskun A (01 Aralık 2019) THE ACCESS TO FINANCE BY SMEs IN TURKEY AND THE EU: A COMPARATIVE STUDY. PressAcademia Procedia 10 1 1–6.
IEEE M. Kahraman, A. Tektas, ve A. Coskun, “THE ACCESS TO FINANCE BY SMEs IN TURKEY AND THE EU: A COMPARATIVE STUDY”, PAP, c. 10, sy. 1, ss. 1–6, 2019.
ISNAD Kahraman, Muhammed vd. “THE ACCESS TO FINANCE BY SMEs IN TURKEY AND THE EU: A COMPARATIVE STUDY”. PressAcademia Procedia 10/1 (Aralık 2019), 1-6.
JAMA Kahraman M, Tektas A, Coskun A. THE ACCESS TO FINANCE BY SMEs IN TURKEY AND THE EU: A COMPARATIVE STUDY. PAP. 2019;10:1–6.
MLA Kahraman, Muhammed vd. “THE ACCESS TO FINANCE BY SMEs IN TURKEY AND THE EU: A COMPARATIVE STUDY”. PressAcademia Procedia, c. 10, sy. 1, 2019, ss. 1-6.
Vancouver Kahraman M, Tektas A, Coskun A. THE ACCESS TO FINANCE BY SMEs IN TURKEY AND THE EU: A COMPARATIVE STUDY. PAP. 2019;10(1):1-6.

PressAcademia Procedia (PAP) publishes proceedings of conferences, seminars and symposiums. PressAcademia Procedia aims to provide a source for academic researchers, practitioners and policy makers in the area of social and behavioral sciences, and engineering.

PressAcademia Procedia invites academic conferences for publishing their proceedings with a review of editorial board. Since PressAcademia Procedia is an double blind peer-reviewed open-access book, the manuscripts presented in the conferences can easily be reached by numerous researchers. Hence, PressAcademia Procedia increases the value of your conference for your participants. 

PressAcademia Procedia provides an ISBN for each Conference Proceeding Book and a DOI number for each manuscript published in this book.

PressAcademia Procedia is currently indexed by DRJI, J-Gate, International Scientific Indexing, ISRA, Root Indexing, SOBIAD, Scope, EuroPub, Journal Factor Indexing and InfoBase Indexing. 

Please contact to procedia@pressacademia.org for your conference proceedings.