Analyzing the technical efficiency on the effects of foreign portfolio investment in the financing of small and medium-sized enterprises (SMEs) in turkey


Duran S., Zehir C.

AFRICAN JOURNAL OF BUSINESS MANAGEMENT, vol.5, no.21, pp.8567-8575, 2011 (Journal Indexed in SSCI) identifier

  • Publication Type: Article / Article
  • Volume: 5 Issue: 21
  • Publication Date: 2011
  • Title of Journal : AFRICAN JOURNAL OF BUSINESS MANAGEMENT
  • Page Numbers: pp.8567-8575

Abstract

This paper investigates the contribution of foreign portfolio investment (FPI) to firms' technical efficiency and total factor productivity by applying two empirical methodologies over a sample of firms. In the study, panel data is from 45 small businesses (small and medium-sized enterprises, SMEs) in Turkey were observed between 2006 and 2010 years. We will analyze the effects of foreign portfolio investment by using the data on businesses in the Istanbul Stock Exchange (ISE). To measure efficiencies of these units, data envelopment analysis (DEA) approach and Malmquist total factor productivity indexes (MTFP) are used.