THE EFFECT OF CAPITAL STRUCTURE IN THE FOOD AND AUTOMOTIVE INDUSTRIES ON THE PERFORMANCE OF THE COMPANY IN CHANGING MARKETS

Bahan Yenilmez

Makale detayları

THE EFFECT OF CAPITAL STRUCTURE IN THE FOOD AND AUTOMOTIVE INDUSTRIES ON THE PERFORMANCE OF THE COMPANY IN CHANGING MARKETS

Yazarlar:

Bahan Yenilmez

Yayıncı:

Kirsehir Ahi Evran University

Ana Başlıklar:

İşletme

Dergi:

Ahi Evran Üniversitesi İktisadi ve İdari Bilimler Fakültesi Dergisi Vol.7 Issue 1, pp.1-23

Belge Tipi:

Makale

Yayın Tarihi:

6/2023

Belge Dili:

Türkçe

Document ID (Org No.):

2001295020

pISSN:

2618-6217

Anahtar kelimeler:

Özet:

 This research examines the effects of capital structure of the companies operating in food and automotive industries on firm performance. In this context, analyzes were made in order to determine the significant relationship of capital structure policies on firm performance of the companies in the food and automotive industries traded in the BIST 100 between the years 2000-2021 during market expansions and slowdown periods. In this research, the variables of earnings per share, Tobins Q, ROA, growth rate in assets, total shareholder return, rate of return on cash flows, cumulative performance and closing price were used to measure firm performance. In this research, the relationships between capital structure and firm performance variables were tried to be determined by multiple regression analysis. As a result of this analysis, that in the slowing and growing market condition it has been determined that there is no difference in terms of the relations between the capital structures of the firms and firm performance in the food sector. And all financing sources have been found to increase firm performance in both periods. As a result of this research, that in the slowing and growing market condition it has been determined that there is no difference in terms of the relations between the capital structures of the firms and firm performance in the automotive sector. And except fort he long-term financing source which affects negatively other financing sources have been found to increase the performance of the firm. The limited number of studies that measure the effect of capital structures on firm performance, especially in the food and automotive sectors in Turkey, constitutes the aspect of this study that differs from other studies.

 This research examines the effects of capital structure of the companies operating in food and automotive industries on firm performance. In this context, analyzes were made in order to determine the significant relationship of capital structure policies on firm performance of the companies in the food and automotive industries traded in the BIST 100 between the years 2000-2021 during market expansions and slowdown periods. In this research, the variables of earnings per share, Tobins Q, ROA, growth rate in assets, total shareholder return, rate of return on cash flows, cumulative performance and closing price were used to measure firm performance. In this research, the relationships between capital structure and firm performance variables were tried to be determined by multiple regression analysis. As a result of this analysis, that in the slowing and growing market condition it has been determined that there is no difference in terms of the relations between the capital structures of the firms and firm performance in the food sector. And all financing sources have been found to increase firm performance in both periods. As a result of this research, that in the slowing and growing market condition it has been determined that there is no difference in terms of the relations between the capital structures of the firms and firm performance in the automotive sector. And except fort he long-term financing source which affects negatively other financing sources have been found to increase the performance of the firm. The limited number of studies that measure the effect of capital structures on firm performance, especially in the food and automotive sectors in Turkey, constitutes the aspect of this study that differs from other studies.

 This research examines the effects of capital structure of the companies operating in food and automotive industries on firm performance. In this context, analyzes were made in order to determine the significant relationship of capital structure policies on firm performance of the companies in the food and automotive industries traded in the BIST 100 between the years 2000-2021 during market expansions and slowdown periods. In this research, the variables of earnings per share, Tobins Q, ROA, growth rate in assets, total shareholder return, rate of return on cash flows, cumulative performance and closing price were used to measure firm performance. In this research, the relationships between capital structure and firm performance variables were tried to be determined by multiple regression analysis. As a result of this analysis, that in the slowing and growing market condition it has been determined that there is no difference in terms of the relations between the capital structures of the firms and firm performance in the food sector. And all financing sources have been found to increase firm performance in both periods. As a result of this research, that in the slowing and growing market condition it has been determined that there is no difference in terms of the relations between the capital structures of the firms and firm performance in the automotive sector. And except fort he long-term financing source which affects negatively other financing sources have been found to increase the performance of the firm. The limited number of studies that measure the effect of capital structures on firm performance, especially in the food and automotive sectors in Turkey, constitutes the aspect of this study that differs from other studies.

 Bu çalışma, gıda ve otomotiv endüstrilerinde yer alan işletmelerin sermaye yapılarının firma performansına olan etkileri incelemektedir. Bu kapsamda BİST 100 endeksinde 2000-2021 yılları arasında işlem gören gıda ve otomotiv endüstrilerinde faaliyet gösteren firmaların piyasa yavaşlama ve genişlemelerindeki sermaye yapılarının firma performansıyla aralarında anlamlı bir ilişkisinin bulunup bulunmadığının tespit edilmesi amacıyla bir takım analizler yapılmıştır. Çalışmada, firma performansının ölçülmesinde, borsa kapanış fiyatı, varlıklardaki büyüme oranı, Tobins Q, ROA, toplam hissedar getirisi, nakit akışlarının getiri oranı, hisse başına kazanç ve kümülatif performans değişkenleri kullanılmıştır. Yine bu çalışmada, çoklu regresyon analiziyle sermaye yapısıyla firma performans değişkenleri arasındaki ilişkiler tespit edilmeye çalışılmıştır. Yapılan analiz sonucunda, genel olarak gıda sektöründe piyasaların yavaşladığı ve genişlediği dönemlerde firmaların sermaye yapılarıyla firma performansı arasındaki ilişkiler açısından herhangi bir farklılık bulunmadığı ve tüm finansman kaynaklarının her iki dönemde de firma performansını arttırdığı saptanmıştır. Ayrıca otomotiv sektöründe söz konusu piyasaların yavaşladığı ve genişlediği dönemlerde firmaların sermaye yapılarıyla firma performansı arasındaki ilişkiler açısından herhangi bir farklılık bulunmadığı ve uzun vadeli finansman kaynağı negatif etkiliyor dışındaki diğer finansman kaynaklarının ise firma performansını arttığı tespit edilmiştir. Türkiyede özellikle gıda ve otomotiv sektörüne yönelik olarak sermaye yapılarının firma performansına olan etkisini ölçen çalışmaların sınırlı olması bu çalışmanın diğer çalışmalardan farklı olan yönünü oluşturmaktadır.

Makale detayları

THE EFFECT OF CAPITAL STRUCTURE IN THE FOOD AND AUTOMOTIVE INDUSTRIES ON THE PERFORMANCE OF THE COMPANY IN CHANGING MARKETS

Yazarlar:

Bahan Yenilmez

Yayıncı:

Kirsehir Ahi Evran University

Ana Başlıklar:

İşletme

Dergi:

Ahi Evran Üniversitesi İktisadi ve İdari Bilimler Fakültesi Dergisi Vol.7 Issue 1, pp.1-23

Belge Tipi:

Makale

Yayın Tarihi:

6/2023

Belge Dili:

Türkçe

Document ID (Org No.):

2001295020

pISSN:

2618-6217

Sermaye Yapısı; Gıda Sektörü; Otomotiv Sektörü; Firma Performansı; Değişen Piyasalar

Sermaye Yapısı

Gıda Sektörü

Otomotiv Sektörü

Firma Performansı

Değişen PiyasalarSermaye Yapısı;

Gıda Sektörü

Otomotiv Sektörü

Firma Performansı

Değişen Piyasalar

Sayı

Makale detayları

Yazarlar: Bahan Yenilmez

Yayıncı: Kirsehir Ahi Evran University

Ana Başlıklar: İşletme

Dergi: Ahi Evran Üniversitesi İktisadi ve İdari Bilimler Fakültesi Dergisi Vol.7 Issue 1, pp.1-23

Belge Tipi: Makale

Yayın Tarihi: 6/2023

Belge Dili: Türkçe

Document ID (Org No.): 2001295020

pISSN: 2618-6217

Sayı

Yazarlar:

Bahan Yenilmez

Yayıncı:

Kirsehir Ahi Evran University

Ana Başlıklar:

İşletme

Dergi:

Ahi Evran Üniversitesi İktisadi ve İdari Bilimler Fakültesi Dergisi Vol.7 Issue 1, pp.1-23

Belge Tipi:

Makale

Yayın Tarihi:

6/2023

Belge Dili:

Türkçe

Document ID (Org No.):

2001295020

pISSN:

2618-6217