African Journal of
Business Management

  • Abbreviation: Afr. J. Bus. Manage.
  • Language: English
  • ISSN: 1993-8233
  • DOI: 10.5897/AJBM
  • Start Year: 2007
  • Published Articles: 4190

Full Length Research Paper

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

Selman Duran1* and Cemal Zehir2
1School of Vocational Studies, Beykent University, Istanbul Turkey. 2Department of Management, Gebze Institute of Technology, Izmit, Turkey.  
Email: [email protected]

  •  Accepted: 25 July 2011
  •  Published: 23 September 2011

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.

 

Key words: Foreign portfolio investment, small and medium-sized enterprises (SMES) financial performance, data envelopment analysis (DAE), Malmquist total factor productivity indexes (MTFP).

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This article is published under the terms of the Creative Commons Attribution License 4.0

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