Please use this identifier to cite or link to this item: https://www.um.edu.mt/library/oar/handle/123456789/73266
Title: Determining factors affecting stock returns by panel data analysis method : an application on manufacturing industry companies listed in BIST 100
Other Titles: Pay getirilerini etkileyen finansal oranlarin panel veri analizi yontemiyle belirlenmesi : BIST 100 imalat sektoru isletmeleri uzerine bir uygulama
Authors: Mat, Murat
Cihangir, Mehmet
Keywords: Manufacturing industries -- Turkey
Stock exchanges -- Turkey
Stocks -- Rate of return
Panel analysis
Issue Date: 2021-04
Publisher: Ahmet Gökgöz
Citation: Mat, M., & Cihangir, M. (2021). Determining factors affecting stock returns by panel data analysis method : an application on manufacturing industry companies listed in BIST 100. Journal of Accounting, Finance and Auditing Studies, 7(2), 80-95.
Abstract: ENGLISH:
Purpose: The purpose of this paper is to determine financial ratios, which affect stock returns of manufacturing industry companies listed in Borsa Istanbul (BIST) 100 during the period of 2008-2019.
Methodology: In this study, panel data analysis is applied by using data of manufacturing companies listed in BIST 100 during the period of 2008-2019.
Findings: According to the findings of the study, the variables of Earnings Before Interest, Tax, Depreciation and Amortization (EBITDA)/Total Assets, Market Value/Book Value and Market Value/Net Sales have a positive and significant effect on stock returns. Moreover the negative and significant effect of the variables of Gross Profit Margin, Current Ratio, Current Asset Turnover Rate and Total Debt/Equity on stock returns are among the other findings of the study.
Significance of the Study: The determining financial ratios affecting stock returns has importance as it helps investment decisions of investors.
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TURKISH:
Calismanin Amaci: Bu calismanin amaci, Borsa Istanbul (BIST) 100 endeksinde islem goren imalat sektoru isletmelerinin 2008-2019 doneminde pay getirilerini etkileyen finansal oranlarin tespit edilmesidir.
Calismanin Metodolojisi: Calismada BIST 100 endeksinde islem goren imalat sektoru isletmelerinin 2008-2019 donemine ait verileri kullanilarak panel veri analizi uygulanmistir.
Calismanin Bulgulari: Yapilan calisma neticesinde elde edilen sonuclara gore, pay getirileri uzerinde Faiz, Vergi ve Amortisman Oncesi Karlar (FAVOK)/Toplam Aktifler, Piyasa Degeri/Defter Degeri ve Piyasa Degeri/Net Satislar degiskenlerinin pozitif ve anlamli etkilerinin bulundugu tespit edilmistir. Ayrica Brut Kar Marji, Cari Oran, Donen Varlik Devir Hizi ve Toplam Borc/Ozsermaye degiskenlerinin pay getirileri uzerinde negatif ve anlamli bir etkisinin oldugu bulunan diger sonuclar arasindadir.
Calismanin Onemi: Pay getirilerini etkileyen finansal oranlarin belirlenmesi yatirimcilarin yatirim kararlarina yardimci olmasi bakimindan onem arz etmektedir.
URI: https://www.um.edu.mt/library/oar/handle/123456789/73266
Appears in Collections:Journal of Accounting, Finance and Auditing Studies, Volume 7, Issue 2
Journal of Accounting, Finance and Auditing Studies, Volume 7, Issue 2

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