AR-GE HARCAMALARININ SATIŞLAR VE KARLILIK ÜZERİNE ETKİSİ: BİST İMALAT SANAYİNDE BİR UYGULAMA

Year 2023, , 215 - 224, 31.03.2023

Saime Doğan

https://doi.org/10.29106/fesa.1235937

Abstract

Makro düzeyde nitelikli bir ekonominin göstergesi, nitelikli bir üretim sistemidir. Nitelikli bir üretim sistemi ise yürütülen Araştırma-Geliştirme (Ar-Ge) faaliyetleri sonucunda ortaya çıkan nitelikli teknolojik bilgi ve uygulamalar ile sağlanabilmektedir. Ar-Ge’nin ölçümünde yaygın olarak kullanılan Ar-Ge harcamaları, günümüzün teknolojik dünyasında işletmelerin sürekliliği ve rekabet edebilirliği için artık zorunludur. Ar-Ge’ye dayalı bir üretim sistemi, işletmelerde üretkenliği ve kaliteyi arttırmasının yanında maliyet avantajları da sağlamaktadır. Ar-Ge harcamalarının işletme satış ve karlılığı üzerine olan etkilerini araştırmak bu çalışmanın amacını oluşturmaktadır. Bu amaç doğrultusunda, BİST-100 endeksinde işlem gören imalat sanayisine ait 20 şirketin Ar-Ge harcamaları ile satışlar ve karlılık arasındaki ilişki, 2009-2021 dönemi yıllık verileriyle araştırılmıştır. Analizde, Hansen (1999) tarafından önerilen sabit etkilere sahip statik panel veri analizi kullanılmıştır. Sonuç olarak, iki dönem önceki Ar-Ge yatırımlarının satışlar ve karlık üzerinde rejim değişimine neden olduğu belirlenmiştir. Ayrıca, Ar-Ge yatırımlarının satışlar ve karlılığı arttırabilmesi için belirli bir düzeyde tutulması gerektiği sonucuna ulaşılmıştır.

Keywords

Ar-Ge Harcamaları, Kârlılık, Satışlar, Panel Veri Analizi.

THE EFFECT OF R&D EXPENDITURE ON SALES AND PROFITABILITY: AN APPLICATION IN BIST MANUFACTURING INDUSTRY

Abstract

At the macro level, the indicator of a high-quality economy is a high-quality production system. Meanwhile, a qualified production system can be achieved through qualified technological knowledge and applications that emerge as a result of Research and Development (R&D) activities. In today's technological world, R&D expenditures, which are widely used in the assessment of R&D, are now essential for the continuity and competitiveness of business enterprises. A production system based on R&D not only increases productivity and quality but also provides significant advantages in terms of cost. The purpose of this study is to investigate the effects of R&D expenditures on the sales and profitability of business enterprises. In line with this purpose, the relationship between R&D expenditures, sales and profitability of 20 manufacturing companies that are included in the BIST-100 index is investigated using the annual data for the period 2009-2021. In this analysis, the static panel data analysis with fixed effects proposed by Hansen (1999) is used. In conclusion, it is determined that investments made in the field of R&D two periods ago led to a regime shift in sales and profitability. Moreover, it is concluded that R&D investments should be kept at a certain level in order to increase sales and profitability.

Keywords

R&D Expenditures, Profitability, Sales, Panel Data Analysis

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