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Journals / Dumlupınar Üniversitesi Sosyal Bilimler Dergisi / 2008 / Cilt: 0 - Sayı: 22

Factors that Affect Capital Structure: The Analysis on the Firms Registered in Industrial and Service Sector of ISE

Sermaye Yapısını Belirleyen Faktörler: İMKB Sanayi ve Hizmet Sektörlerinde İşlem Gören İşletmeler Üzerine Bir İnceleme

Ramazan AKBULUT
Ali Sait BAYRAK
Pages
425–445
Publication Date
2022-10-11
DOI
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AI Summary & Key Takeaways

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

Empirical results of the study show that the most important factors affect capital structures of firms are liquidity, activity efficiency and business risk.

📌 3 Key Takeaways

🎯
Objective & Hypothesis:The purpose of this study is to search the most important factors that determine the capital structure of the firms in the industrial and service sectors of Istanbul Stock Exchange (ISE) by using CRT (Classification and Regression Trees) algorithm of data mining techniques.
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Key Findings & Data:For this purpose 38 indicators are chosen from different financial fields such as profitability, liquidity, activity efficiency, market value, firm size, business risk, none-debt tax shield, tax level and growth rates.
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Conclusion & Impact:Empirical results of the study show that the most important factors affect capital structures of firms are liquidity, activity efficiency and business risk.
🔬Design:Research Article
📍Scope:Comprehensive Sample
⚙️Variables:Domain Parameters

Abstract

The purpose of this study is to search the most important factors that determine the capital structure of the firms in the industrial and service sectors of Istanbul Stock Exchange (ISE) by using CRT (Classification and Regression Trees) algorithm of data mining techniques. For this purpose 38 indicators are chosen from different financial fields such as profitability, liquidity, activity efficiency, market value, firm size, business risk, none-debt tax shield, tax level and growth rates. Empirical results of the study show that the most important factors affect capital structures of firms are liquidity, activity efficiency and business risk.

Özet

Bu çalışmanın amacı, İstanbul Menkul Kıymetler Borsası (İMKB) sanayi ve hizmet sektörlerinde faaliyet gösteren firmaların sermaye yapılarını etkileyen en önemli faktörleri karar ağacı algoritmalarından CRT ile araştırmaktır. Bu amaçla karlılık, likidite, varlık kullanım etkinliği, pazar değeri, işletme büyüklüğü, işletme riski, borç dışı vergi kalkanı, vergi düzeyi ve büyüme oranları gibi farklı alanlardan 38 farklı finansal gösterge seçilmiştir. Araştırma sonuçları işletmelerin sermaye yapılarının en önemli belirleyicileri likidite, varlık kullanım etkinliği ve işletme riski göstergeleri olduğunu göstermektedir.

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Cite This Article

AKBULUT, R., BAYRAK, A. S. (2022). Factors that Affect Capital Structure: The Analysis on the Firms Registered in Industrial and Service Sector of ISE. Dumlupınar Üniversitesi Sosyal Bilimler Dergisi, Cilt: 0 - Sayı: 22, 425–445. https://ajindex.com/articles/493511

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