IMPACT OF MACROECONOMIC UNCERTAINTY ON FIRM PROFITABILITY: A CASE OF BIST NONMETALLIC MINERAL PRODUCTS SECTO

Yilmaz Bayar; Isil Erem Ceylan

doi:https://doi.org/10.17261/Pressacademia.2017.764

Makale detayları

IMPACT OF MACROECONOMIC UNCERTAINTY ON FIRM PROFITABILITY: A CASE OF BIST NONMETALLIC MINERAL PRODUCTS SECTO

Yazarlar:

Yilmaz Bayar | Isil Erem Ceylan

Yayıncı:

PressAcademia

Ana Başlıklar:

Sosyoloji & antropoloji

Dergi:

Journal of Business Economics and Finance 2017 Vol.6 Issue 4, pp.318-327

Belge Tipi:

Makale

Yayın Tarihi:

12/2017

Belge Dili:

Türkçe

Document ID (Org No.):

2000737697

Sıklık:

Üç Aylık

eISSN:

2146-7943

DOI:

https://doi.org/10.17261/Pressacademia.2017.764

Özet:

 


Purpose- The aim of this study is to analyze
the impact of macroeconomic uncertainty on Return on Assets (ROA) and Return on
Operating Profits (ROAF) by employing panel data analysis within the sample of
Borsa Istanbul Non-Metallic Mineral Products sector for the period of
2003:Q1-2016:Q4. 


Methodology- Firstly; volatility levels of
exchange rate, interest rate, inflation rate and growth rate were determined by
Generalized Autoregressive Conditional Heteroscedasticity (GARCH) modelling.
Then, the relationship between uncertainty and profitability were examined by
panel data analysis.  


Findings- Our findings revealed that growth
volatility, exchange rate volatility, and interest volatility had a negative
effect on both return on assets (ROA) and operating profit (ROAF).  









Conclusion- Macroeconomic uncertainty has
potential to affect the firm profitability through firm decision-making. The
findings of this were consistent with relevant theoretical and empirical
literature. In this regard, establishing and sustaining a stable macroeconomic
environment is of great importance for firm profitability and in turn achieving
a sustainable growth and lower unemployment rates. 


.

Makale detayları

IMPACT OF MACROECONOMIC UNCERTAINTY ON FIRM PROFITABILITY: A CASE OF BIST NONMETALLIC MINERAL PRODUCTS SECTO

Yazarlar: Yilmaz Bayar | Isil Erem Ceylan

Yayıncı: PressAcademia

Ana Başlıklar: Sosyoloji & antropoloji

Dergi: Journal of Business Economics and Finance 2017 Vol.6 Issue 4, pp.318-327

Belge Tipi: Makale

Yayın Tarihi: 12/2017

Belge Dili: Türkçe

Document ID (Org No.): 2000737697

Sıklık: Üç Aylık

eISSN: 2146-7943

DOI: https://doi.org/10.17261/Pressacademia.2017.764

Sayı

Yazarlar:

Yilmaz Bayar | Isil Erem Ceylan

Yayıncı:

PressAcademia

Ana Başlıklar:

Sosyoloji & antropoloji

Dergi:

Journal of Business Economics and Finance 2017 Vol.6 Issue 4, pp.318-327

Belge Tipi:

Makale

Yayın Tarihi:

12/2017

Belge Dili:

Türkçe

Document ID (Org No.):

2000737697

Sıklık:

Üç Aylık

eISSN:

2146-7943

DOI:

https://doi.org/10.17261/Pressacademia.2017.764