Small-Medium Sized Companies(SMEs) are very important in the perspectives of employment, innovation, production and as well as exportation. But as opposed to their importance, they have faced a big problem to finance investments known as financing capabilities. Since it is not easy for them to...

In this paper, we investigate the responsiveness of financial markets to monetary policy expectations in Turkey. According to the efficient markets hypothesis, financial markets respond to anticipated policy actions prior to a policy announcement. As a result, they are expected to respond only...