In this study, we mainly discuss the validity of estimating the capital stock at the firm level. Unlike the macro-level estimates, the micro-level estimates require a different treatment on the capital accumulation equation, especially on the estimate of the initial level of capital stock, controlling for firms' entry and exit, and changing composition of firm-level investments. We also consider the ownership of capital assets acquired by different types of finance other than direct purchases—by leasing or by rent. Considering these situations, we elaborate on the controversial issues of existing methods. We then, to some extent, refine alternative methods for estimating the capital stock in Turkey for the period 2005–15 using extensive firm-level data. Using these estimates, we focus on the behavioral trends of firms (i.e., capital-related variables) in manufacturing, services, and information and communication sectors in Turkey.

中文翻译：

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估计公司层面的资本存量：来自土耳其的证据

在本研究中，我们主要讨论在企业层面估计资本存量的有效性。与宏观层面的估算不同，微观层面的估算需要对资本积累方程进行不同的处理，特别是对初始资本存量水平的估算、企业进入和退出的控制以及企业层面投资构成的变化。 . 我们还考虑了通过不同类型的融资而非直接购买（通过租赁或租金）获得的资本资产的所有权。考虑到这些情况，我们详细阐述了现有方法的争议问题。然后，在某种程度上，我们使用广泛的公司级数据改进了估算土耳其 2005-15 年期间资本存量的替代方法。使用这些估计，我们关注公司的行为趋势（即，