Muhasebe Kârları İle Hisse Senedi Fiyatları Arasındaki İlişki: BİST Firmaları Üzerine Bir Uygulama

Kaya, Abdülkadir; Öztürk, Meltem

doi:10.25095/mufad.396573

Cited by 14 publications

(18 citation statements)

References 4 publications

(4 reference statements)

Supporting

Mentioning

Contrasting

Unclassified

Order By: Relevance

“…Akyatan (2016), Kaya and Öztürk (2015), Aktaş and Ünal (2015) and also Parlakkaya and Kahraman (2017) reached the similar results. On the other hand, Sevim (2016) revealed that there is no significant relationship between ROA, ROE ratios and stock returns.…”

Section: Research Findings and Discussionsupporting

confidence: 71%

“…On the other hand, Aydemir, Ögel and Demirtaş (2012), also Kaya and Öztürk (2015) split companies into sectors and then analyzed them. In the context of these studies, selected indexes and sectors differ in terms of the number of companies dealt with and the periods in which the study's data set was formed.…”

Section: Literature Reviewmentioning

confidence: 99%

“…As a consequence, meaningful relationships between efficiency ratios and stock prices were ascertained and also profitability ratios are more powerful than other ratios. Kaya and Öztürk (2015) examined the relationship between profits and stock prices of BIST Food, Beverage and Tobacco Sector within the period of 2000-2013. According to result of the analysis, profits and stock prices are cointegrated and it is revealed that there is a one-way causality from return on assets and net profit margin to stock prices; in addition, there is a bidirectional causality between net operating profitability and stock prices.…”

Section: Literature Reviewmentioning

confidence: 99%

See 2 more Smart Citations

Relationship Between Profitability Ratios and Stock Prices: An Empirical Analysis on Bist-100

Bayrakdaroğlu¹,

MİRGEN²,

Kuyu³

2017

Pressacademia

View full text Add to dashboard Cite

Purpose-Investors benefit from a large number of information resources in order to maximize their earnings from financial instruments they have invested. One of the resources that investors benefit from is financial ratio information which they obtain by analyzing firms' financial statements. Accordingly, the aim of this study is to determine if there is a relationship between stock prices and profitability ratios which take place in financial ratios and also to analyze if profitability ratios can be directive indicator while investing in stocks with the aim of maximizing earnings. Methodology-In this research, panel data regression analysis was applied between lagged stock prices of firms in ISE100 and their profitability ratios including gross profit margin, operating profit margin, net profit margin, return on asset and return on equity. Once we had decided that fixed effects model is convenient for our research, the model was estimated by Driscoll-Kraay Estimator which produce robust standard errors. Findings-According to result of our analysis, it was determined that there is a positive linear relationship between firms' net profit margin and their stock prices. Conclusion-It was concluded that while making investment decisions, taking net profit margin into consideration can contribute to investors' earnings.

show abstract

Section: Research Findings and Discussionsupporting

confidence: 71%

Section: Literature Reviewmentioning

confidence: 99%

Section: Literature Reviewmentioning

confidence: 99%

See 1 more Smart Citation

Relationship Between Profitability Ratios and Stock Prices: An Empirical Analysis on Bist-100

Bayrakdaroğlu¹,

MİRGEN²,

Kuyu³

2017

Pressacademia

View full text Add to dashboard Cite

show abstract

“…Avan, Siddique, and Sarwar (2014) carried out a study using the data obtained from 59 corporates listed in Pakistan's KSE100 index and indicated that changes in stock values were influenced by EVA and such effects were found to be significant at p < 0.1. Kaya and Öztürk (2015) carried out a study to investigate the relationships between accounting profits and stock quotes. They investigated the relationships between the accounting profits of corporates operating in the ISE Food, Beverage, and Tobacco Sectors for the 2000-2013 period and the stock quotes of these corporations.…”

Section: Literaturementioning

confidence: 99%

Comparison of EVA (Economic Value-Added) and Accounting Profit in Explaining Share Returns of Deposit Banks

Boztosun¹

2017

CUBR

View full text Add to dashboard Cite

In this study, the success of EVA (Economic Value-Added, a modern performance assessment method) and net profit (a conventional performance assessment method) in explaining the financial performance of corporates was compared. For this purpose, the stock market performance of the shares of deposit banks operating in the banking sector in Turkey was used as the performance indicator of corporates. Then, EVA and the net profit of the period were used to explain the stock market performance of the deposit banks. The research sample was composed of eight deposit banks that have been operating since the year 2005 and whose shares have been publicly traded in stock markets since then and which have available financial tables and share data for this period. The data obtained for this research sample were then subjected to panel data analysis. It was concluded, based on present findings, that EVA was more successful than the net profit of the period in explaining the stock market performance of the deposit banks.

show abstract

“…Petcharabul ve Romprasert (2014), Tayland'da 1997-2011 dönemine ilişkin çeyrek dönem mali tablo verileri ile çalışarak Teknoloji sektöründe bulunan firmaların hisse senetlerinin faaliyet sonuçları ile hisse senedi borsa getirileri arasındaki ilişkileri ölçmüşlerdir. Yazarlar, Özsermaye karlılığı ve PD/DD oranları ile hisse getirisi arasında önemli pozitif ilişki elde etmişlerdir Kaya ve Öztürk (2015),. firma kârlarının, hisse senedi yatırımcılarının yatırım kararlarını ve hisse senedini fiyatını etkileyen önemli bir faktör olduğunu ifade etmişlerdir.…”

unclassified

TOPSIS performance evaluation measures and relation between financial ratios and stock returns

Özen¹,

Yeşildağ²

2015

Pressacademia

View full text Add to dashboard Cite

The purpose of this study is to find out the financial performances of the companies by using TOPSIS, one of the mostly used multi-criteria decision-making methods, and also to measure the relationship between stock returns and the financial performances with financial ratios. For this reason, selected 4 companies trading at Borsa İstanbul Food Index and their 20 financial ratios between 2000:4 and 2014:3 are used in the study. Finally the relations are investigated by Correlation Analysis. According to analysis, there is no relationship between TOPSIS financial performance scores and return on stocks. When we look at the relationship between financial ratios and return on stocks, there is no significant relationship among variables in 3 out of 4 companies. However, there is a significant positive statistical relationship with only one company. Research results show that stock prices are determined by external factors rather than internal factors in small companies. TOPSIS PERFORMANS DEĞERLEME ÖLÇÜSÜ VE FİNANSAL ORANLAR İLE HİSSE SENEDİ GETİRİ İLİŞKİSİ Anahtar KelimelerFinansal oranlar, Borsa İstanbul, hisse senedi getirisi, TOPSIS, finansal performans JEL Sınıflandırması G11, G32, L00 ÖZETBu çalışmanın amacı, çok kriterli karar verme yöntemlerinden biri olan TOPSIS yöntemiyle şirketlerin finansal performanslarını belirlemek, ayrıca bu performans ve finansal oranlarla hisse senetlerinin borsa getirileri arasındaki ilişkiyi ölçmektir. Bu nedenle çalışmada, Borsa İstanbul Gıda Endeksinde yer alan seçilmiş dört işletme ve bu işletmelerin 2000:4-2014:3 dönemlerine ait yirmi finansal oran kullanılmış, ilişkiler korelasyon analizi yardımıyla araştırılmıştır.Korelasyon analizine göre, TOPSIS performans skorları ile hisse senedi getirileri arasında bir ilişki bulunmamıştır. Finansal oranlar ile hisse senedi getirileri arasındaki ilişkiye bakıldığında, dört işletmenin üçünde değişkenler arasında genel olarak bir ilişki bulunmamıştır. Sadece bir işletmenin kârlılık oranları ile piyasa getirileri arasında istatistiksel olarak anlamlı pozitif ilişkiler bulunmuştur. Çalışma sonuçları hisse senedi fiyatlarının özellikle küçük işletmelerde daha çok dışsal faktörlerce belirlendiğini ortaya çıkarmıştır.

show abstract

Muhasebe Kârları İle Hisse Senedi Fiyatları Arasındaki İlişki: BİST Firmaları Üzerine Bir Uygulama

Cited by 14 publications

References 4 publications

Relationship Between Profitability Ratios and Stock Prices: An Empirical Analysis on Bist-100

Relationship Between Profitability Ratios and Stock Prices: An Empirical Analysis on Bist-100

Comparison of EVA (Economic Value-Added) and Accounting Profit in Explaining Share Returns of Deposit Banks

TOPSIS performance evaluation measures and relation between financial ratios and stock returns

Contact Info

Product

Resources

About