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Journals / İzmir Yönetim Dergisi / 2020 / Cilt: 1 - Sayı: 1

The Determinants of Corporate Cash Holding Policies: An Econometric Analysis on BIST SME Industry Index

Kurumsal Nakit Bulundurma Politikalarına Etki Eden Faktörler: BİST KOBİ Sanayi Endeksi Firmaları Üzerine Ekonometrik Bir Analiz

Berk YILDIZ
Pages
29–46
Publication Date
2020-12-30
DOI
—
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AI Summary & Key Takeaways

AI Insight
⚡ TL;DR(Too Long; Didn't Read)

The findings revealed out that profit margin is the most important factor on the cash holding policies of BIST SME Industry Index firms.

📌 3 Key Takeaways

🎯
Objective & Hypothesis:The aim of this study is to determine the factors affecting the cash holding policies of firms traded on the Borsa Istanbul (BIST) SME Industry Index.
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Key Findings & Data:Therefore, a data set that covers the period of 2008-2019 was created and various factors that may affect the cash holding policies of the firms have been analysed with the help of two separate models by using panel data method.
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Conclusion & Impact:The findings revealed out that profit margin is the most important factor on the cash holding policies of BIST SME Industry Index firms.
🔬Design:Modeling & Simulation
📍Scope:2008-2019 Verileri
⚙️Variables:Kurumsal Nakit Bulundurma Politikaları · BİST KOBİ Sanayi Endeksi · Panel Veri Yöntemi

Abstract

The aim of this study is to determine the factors affecting the cash holding policies of firms traded on the Borsa Istanbul (BIST) SME Industry Index. Therefore, a data set that covers the period of 2008-2019 was created and various factors that may affect the cash holding policies of the firms have been analysed with the help of two separate models by using panel data method. The findings revealed out that profit margin is the most important factor on the cash holding policies of BIST SME Industry Index firms. However, net working capital and return on assets are other significant factors that have an impact on the cash holding policies of the firms within the scope of the study.

Özet

Bu çalışmanın amacı, Borsa İstanbul (BİST) KOBİ Sanayi Endeksinde işlem gören firmaların nakit bulundurma politikalarına etki eden faktörlerinin tespit edilmesidir. Bu nedenle, 2008-2019 dönemini kapsayan bir veri seti oluşturulmuş ve söz konusu dönemde BİST KOBİ Sanayi Endeksine kota olmuş firmaların nakit bulundurma politikalarını etkileyebilecek çeşitli faktörler kurulan iki ayrı model aracılığıyla panel veri yöntemi ile analiz edilmiştir. Elde edilen bulgulara göre BİST KOBİ Sanayi Endeksi firmalarının nakit bulundurma politikaları üzerindeki en önemli faktör faaliyet kârlılık oranıdır. Bununla birlikte, net çalışma sermayesi ve varlık kârlılık oranı değişkenleri de çalışma kapsamındaki firmaların nakit bulundurma politikaları üzerinde etkisi tespit edilen diğer faktörlerdir.

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Cite This Article

YILDIZ, B. (2020). The Determinants of Corporate Cash Holding Policies: An Econometric Analysis on BIST SME Industry Index. İzmir Yönetim Dergisi, Cilt: 1 - Sayı: 1, 29–46. https://ajindex.com/articles/371536

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