THE IMPACT OF FINANCIAL LEVERAGE AND FIRM SIZE ON FINANCIAL PERFORMANCE: A RESEARCH ON COMPANIES TRADED IN BIST INDUSTRIALS INDEX

Year 2017, ICMEB17 Özel Sayısı, 796 - 811, 01.12.2017

Nihan Caba

Abstract

Financial performance which plays a crucial role in the ability of businesses to survive for many years is influenced by many factors. Whether financial leverage is high or large is showing better financial performance is one of the issues to be emphasized. The main purpose of this study is to investigate whether financial leverage and firm size have impact on the financial performance of businesses. To achieve this purpose, 136 businesses traded in the BIST Industrials Index were included in the analysis. Multiple regression analyzes were used to achieve these purposes and the impact of financial leverage and firm size factors on the financial performance of the businesses has been tested. As a result of the analyzes, financial leverage and firm size have impact on the financial performances of the businesses

Keywords

Financial Leverage, Firm Size, Financial Performance, BIST Industrials Index, Multiple Regression

FİNANSAL KALDIRAÇ VE FİRMA BÜYÜKLÜĞÜNÜN FİNANSAL PERFORMANS ÜZERİNE ETKİSİ: BIST SINAİ ENDEKSİNDE İŞLEM GÖREN İŞLETMELER ÜZERİNE BİR UYGULAMA

Abstract

İşletmelerin uzun yıllar boyunca ayakta durabilmelerinde çok önemli bir rol oynayan finansal performans birçok faktörden etkilenmektedir. Finansal kaldıraçları yüksek ya da büyük ölçekli işletmelerin daha iyi bir finansal performans gösterip göstermediği ise üzerinde durulması gereken konulardan biridir. Bu çalışmanın temel amacı, finansal kaldıraç ve firma büyüklüğünün işletmelerin finansal performansları üzerinde etkili olup olmadığını araştırmaktır. Bu amacı gerçekleştirmek için, BIST Sınai Endeksi’nde işlem gören 136 işletme analize dâhil edilmiştir. Bu amaçları gerçekleştirmek üzere çoklu regresyon analizleri kullanılmış ve finansal kaldıraç ve firma büyüklüğü değişkenlerinin işletmelerin finansal performansları üzerindeki etkisi test edilmiştir. Yapılan analizlerin sonucunda, finansal kaldıraç ve firma büyüklüğünün işletmelerin finansal performansları üzerinde etkili olduğuna ulaşılmıştır.

Keywords

Finansal Kaldıraç, Firma Büyüklüğü, Finansal Performans, BIST Sınai Endeksi, Çoklu Regresyon

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