The Effect of Debt Structure and Profitability on Financial Success: A Research on BIST Bank Index

Year 2024, Volume: 9 Issue: 1, 91 - 100, 30.06.2024

Çağatay Mirgen

Abstract

Excessive borrowing can lead to liquidity problems for companies. Optimal borrowing can increase profitability. For investors, these indicators can be a source that reveals the financial performance of companies and can be taken into account when making investment decisions. In the study, the effect of debt structure and profitability on financial success was tested with panel data analysis for BIST Bank companies. To measure financial success, Piotroski used the F-Score. In the debt structure, short and long-term debts, gross profit and return on assets ratio are taken as basis for profitability. The current ratio is also included in the analysis. According to the findings, it was concluded that Return on Assets and Current Ratio positively affect financial success for BIST Bank companies. However, no statistically significant relationship could be detected between short and long-term debt, gross profit and financial success.

Keywords

Debt Structure, Profitability, Financial Success, Piotroski F Score, BIST Bank

Ethical Statement

Çalışma etik beyan gerektirmemektedir.

Borçlanma Yapısı ve Kârlılığın Finansal Başarı Üzerindeki Etkisi: BIST Banka Endeksi Üzerine Bir Araştırma

Abstract

Aşırı borçlanma şirketler için likidite sorunlarına yol açabilirken, optimal borçlanma kârlılığı artırabilmektedir. Yatırımcılar için bu göstergeler şirketlerin finansal performansını ortaya koyan birer kaynak olabilmekte ve yatırım kararı verirken dikkate alınabilmektedir. Çalışmada borçlanma yapısı ve kârlılığın finansal başarı üzerindeki etkisi BIST Banka şirketleri için panel veri analizi ile test edilmiştir. Finansal başarıyı ölçmek için Piotroski F-Skor kullanmıştır. Borçlanma yapısında, kısa ve uzun vadeli borçlar, kârlılık için brüt kâr ve aktif kârlılık oranı esas alınmıştır. Ayrıca cari oran da analize dahil edilmiştir. Elde edilen bulgulara göre BIST Banka şirketleri için Aktif Kârlılık ve Cari Oran’ın finansal başarıyı olumlu yönde etkilediği sonucuna ulaşılmıştır. Ancak kısa, uzun vadeli borç, brüt kâr ile finansal başarı arasında istatistiksel olarak anlamlı bir ilişki tespit edilememiştir.

Keywords

Borçlanma Yapısı, Kârlılık, Finansal Başarı, Piotroski F Skor, BIST Banka

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