RİSK SERMAYESİ VE TÜRKİYE EKONOMİSİ ÜZERİNE İNCELEME: GİRİŞİM SERMAYESİ YATIRIM ORTAKLIĞI FİRMALARININ PERFORMANS ANALİZİ

Abstract

Closing the economic development gap between developing countries and developed countries in particular depends upon the realization of risky technological investments. These technological investments cover large areas from health sector to education and from defense sector to energy. Implementing these extensive investments requires very much capital-intensive affairs. Practices of venture capital, as an alternative financing method constitutes the main axis of this study especially for the developing countries where the capital insufficiency is widespread. Venture capital investment trust incorporations are the one of the components providing capital for these investments in Turkey. Venture capital firms aim to add value to the companies and to supply earnings to the entrepreneurships through investing in the companies with high growth and competitive power. Therefore, the success of the companies that are funded by the venture capital investment trusts will be reflected in the performances of these venture capital firms. In this context, liquidity, financial structure and profitability ratios are analyzed and compared for the selected sample venture capital investment trust companies operating in Turkey. As a conclusion of empirical analysis, it is seen that on the average, these companies exhibit different performances from each other in terms of liquidity, financial structure and profitability ratios.