İmalat Sanayi Firmalarının Nakit Tutma Dinamikleri

Year 2016, Volume: 16 Issue: 1, 103 - 117, 25.04.2016

Yrd. Doç. Dr. Emel Yücel

Abstract

Nakit yönetimi, firmanın finans yöneticileri ve yatırımcıları açısından önemli sonuçlar doğurmaktadır. Bu çalışmada, 2005-2012 verileri kullanılarak Türkiye’de Borsa İstanbul’a kayıtlı İmalat Sanayi firmalarında nakit tutmayı etkileyen faktörler ve optimal nakit seviyesinin varlığı araştırılmıştır. Bulgular, imalat sanayi firmalarının hedef nakit seviyelerine düzeltme sürecine sahip olduklarını göstermiştir. Ayrıca, firma özellikleri ile nakit tutma arasındaki ilişki imalat sanayinin alt sektörleri açısından farklılık göstermektedir. Firmaların borç finansmanını nakit tutmaya ikame olarak değerlendirdikleri tespit edilmiştir.

Keywords

Nakit Akımı, Sektörler, Finansal Hiyerarşi Teorisi, Optimal Nakit Tutma, GMM

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