Financing of small and medium enterprises (SMEs) through initial public offering (IPO): Growing companies market (GCM)

The aim of this thesis is to put forth the role and importance of İstanbul Stock Exchange (ISE) Growing Companies Market (GCM) in financing of SMEs through initial public offering (IPO). Financing through IPO, SMEs exchanges applications in Turkiye and in the world, and ISE-GCM are some of the topics of this thesis. Any data collection tool was not used for the creation of it as this thesis is not intended to demonstrate a situation analysis. The data used in this thesis was created using library and home books, academic articles published in national and international arena, legal regulations, websites of institutions and organizations, and the master's and doctoral theses. In this dissertation, firstly, the definition of SMEs, features, role and importance in the economies of countries is mentioned, later, financial problems experienced by SMEs and financing methods used to solve them. In the light of these observation, it is put forth that preferrence for IPO is an appropriate decision in order to respond the need of long-term funding for SMEs and SME exchange has been playing a major role in this respect. In this context, first it is focused on SME exchanges in the world, later various aspects of ISE-GCM in Turkiye is discussed.Key Words:1.Small and Medium Enterprises (SMEs)2.Long Term Financial Problem of SMEs3.Capital Markets4.Financing through Initial Public Offering (IPO)