Dergiler / İşletme Araştırmaları Dergisi / 2019 / Cilt: 11 - Sayı: 1

Effect of Financial Structure Ratios on Profitability: Panel Data Analysis on Manufacturing Sector

Sayfa
504–516
DOI
—
🏛️Bu makalenin bibliyografik verileri ve tam metin bağlantısı DergiPark üzerinden sağlanmıştır.
DergiPark Kaydı ↗
✨

Yapay Zeka Hızlı Bakış & Çıkarımlar

AI Insight
⚡ TL;DR(1 Cümlede Hızlı Çıkarım)

Discussion – Findings obtained from the study; has great importance for investors, researchers and the top management of enterprises.

📌 3 Maddede Bu Makale

🎯
Amaç & Hipotez:Purpose – By increasing their profitability, businesses can achieve their goals such as economic growth, regularity and increasing their market value.
📊
Temel Bulgular & Veri:Design/methodology/approach – Within this scope, to measure the effect of financial structure rates on profitability, the regression model was tested by panel data analysis which developed as a result of the literature review.
💡
Sonuç & Katkı:Discussion – Findings obtained from the study; has great importance for investors, researchers and the top management of enterprises.
🔬Tür:Literatür & Derleme Çalışması
📍Kapsam:2008-2017 Verileri
⚙️Değişkenler:Alan Parametreleri

Özet

Purpose – By increasing their profitability, businesses can achieve their goals such as economic growth, regularity and increasing their market value. Financial structure is one of the main factor that affecting profitability. The resource components used in the financing of assets, directly affect the sustainability of profitability. In profit planning, businesses need to take into account the resource components that they will use in asset financing. The development of studies on the impact of the equity and liability components that compose the financial structure on the profitability will contribute to the field of business administration. In this context, the aim of this study is to investigate the effect of financial structure on profitability. Design/methodology/approach – Within this scope, to measure the effect of financial structure rates on profitability, the regression model was tested by panel data analysis which developed as a result of the literature review. The tests were carried out in the Eviews 9 package program. The data obtained from the financial statements of 155 publicly- traded company in the İstanbul stock exchange ( BIST) Manufacturing Industry between 2008-2017 were used in the study. Findings – As a result of the analyzes, it was determined that the borrowing ratios affected the asset profitability as financial structure ratios, and this effect was positive in the long-term borrowing ratio and negative in the short-term borrowing ratio. Discussion – Findings obtained from the study; has great importance for investors, researchers and the top management of enterprises.

🔖

Bu Makaleye Atıf Yap

ÖZÇELİK, H., ARSLAN, Z. (2019). Effect of Financial Structure Ratios on Profitability: Panel Data Analysis on Manufacturing Sector. İşletme Araştırmaları Dergisi, Cilt: 11 - Sayı: 1, 504–516. https://ajindex.com/articles/268832

📄 Tam Metin PDF Okuyucu

📄

PDF görüntüleyici hazırlanıyor...

Kaynakça (16)

  1. Abor, J. (2005). The effect of capital structure on profitability: an empirical analysis of listed firms in ghana, The Journal of Risk Finance, 6(5), 438–445.
  2. Abor, J. and Biekpe, N. (2005). Does corporate governance affect the capital structure decisions of smes? Biennial Conference of the Economic Society of South Africa, Durban, South Africa, September. Ahmad, T. (2014). Impact of capital structure on profitability: an empirical analysis of cement sector of Pakistan, Research Journal of Finance and Accounting, 5(17),49-54.
  3. Arslan, M. and Boz, M.F. (2017). Analysis of the factors affecting the capital structure of oil exploration and production companies: Comparative analysis of TP and the five major oil exploration and production companies in the World, İşletme Araştırmaları Dergisi, 9(2), 212-231.
  4. Baltagi, B. H. (2005). Econometric Analysis of Panel Data. 3. Edt. England: John Wiley & Sons Ltd. Bektöre, S., Çömlekçi, F., ve Sözbilir, H. (2015).
  5. Mali Tablolar Analizi, Nisan Kitabevi,
  6. Ankara.
  7. Berk, J., DeMarzo, P. and Harford, J. (2012). Fundamentals of Corporate Finance., 2. Baskı. ABD: Pearson Education. Besley, S. and Brigham, E.F. (2000).
  8. Essentials of Managerial Finance, Twelfth Edition,
  9. The Drden Press,
  10. USA. Bevan, A. A. and Danbolt, J. (2002). capital structure and its determinants in the united kingdom: a decompositional analysis, Applied Financial Economics, 12(3), 159 – 170. Chechet, I. L. and Olayiwola, A.B. (2014). Capital structure and profitability of nigerian quoted firms: the agency cost theory perspective, American International Journal Of Social Science, 3(1), 139-158.
  11. Chen, L. H., Lensink R. And Sterken E. (1998). the determinants of capital structure: evidence from dutch panel data, The European Economic Association Annual Congress, Berlin, 1-33.
  12. Chen, L. and Zhau, X. (2004).
  13. Profitability, Mean Reversion of Leverage Ratios and Capital Structure Choices, 1-43.
  14. Chen, L. and Zhau, X. (2005). Why Do More Profitable Firms How Lower Leverage Rations?,1-36.
  15. Cole C, Yan Y and Hemley D. (2015). Does capital structure impact firm performance: An empirical study of three U.S. sectors, Journal of Accounting and Finance, 15(6), 57-65.
  16. Correia, A. M. F. A., Cerqueira, A. M. and Brandao, E. (2015). determinants of corporate capital structure: evidence from non-financial listed french firms. FEP Working Papers. Cortez, M. A. and S. Susanto. (2012). The determinants of corporate capital structure: evidence from japanese manufacturing companies. Journ