İşletme Sermayesi Yönetimi ve Kârlılık Arasındaki İlişki: Amman Menkul Kıymetler Borsasına Kote Edilmiş Ürdün Otellerinde ve Turizm Şirketlerinde Uygulama

Year 2022, Volume: 5 Issue: 1, 71 - 88, 15.05.2022

Ş. Sertaç Çakı Hamza A. F. Harara

Abstract

Bu çalışmanın amacı, işletme sermayesi yönetimi bileşenleri ile kârlılık arasındaki ilişkiyi analiz etmektir. İşletme sermayesi yönetimi ile kârlılık arasındaki ilişki, Amman Menkul Kıymetler Borsası'nda (ASE) işlem gören 11 Ürdünlü Otel ve Turizm şirketinden oluşan bir örneklem için, bu şirketlerin dönem içinde finansal raporlarından alınan 2015-2019 yılları arası verilere göre panel veri analizi kullanılarak incelenmiştir. Çalışma, Amman Menkul Kıymetler Borsası'nda (ASE) işlem gören Ürdün Otelleri ve Turizm şirketlerinin kârlılığının bağımlı değişken olduğu modelde kontrol değişkenleri olarak şirket büyüklüğü ve finansal kaldıraç derecesi kullanılmıştır. Bu amaca ulaşmak için, bir taraftan bağımsız değişkenler olarak işletme sermayesi yönetimi ile işletme sermayesi yatırım politikası, işletme sermayesi finansman politikası ve verimli işletme sermayesi yönetimi ile diğer taraftan da bağımlı değişken olarak özkaynak kârlılığı testleri uygulanmıştır.

Keywords

İşletme Sermayesi Yönetimi, Karlılık, Otel ve Turizm Şirketleri, Finansal Yönetim

The Relationship Between Working Capital Management and Profitability: Application in Jordanian Hotels and Tourism Companies Listed on Amman Stock Exchange

Abstract

The aim of this study is to analyze the relationship between working capital management components and profitability. The relationship between working capital management and profitability is examined using panel data analysis for a sample consists of 11 Jordanian Hotels and Tourism companies listed at Amman Stock Exchange (ASE) according to the data received from the financial reports of these companies, during the period (2015- 2019).
In addition, the study examined the impact of the controlled variables (i.e., company size, degree of financial leverage) on the profitability of Jordanian Hotels and Tourism corporations listed in Amman Stock Exchange (ASE). In order to achieve this aim, tests were applied on the relation between the working capital management and its three elements as independent variables from one side and the return on equity as dependent variable from the other side.

Keywords

Working Capital Management, Profitibility, Hotel and Tourism Firms, Financial Management

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