Maliyet Yapışkanlığının Geçerliliğinin Test Edilmesi: Borsa İstanbul Örneği-Testing of The Validity of The Cost Stickiness: The Example of Borsa İstanbul

Year 2016, Volume: 8 Issue: 15, 31 - 42, 13.06.2016

Feyyaz Zeren , Erkan Öztürk

https://doi.org/10.20875/sb.05076

Cited By: 13

Abstract

Bu çalışmada Borsa İstanbul (BIST) imalat sanayinde faaliyet gösteren 76 şirket için maliyet yapışkanlığının geçerliliği test edilmiştir. Bu bağlamda; çalışmada, satışlar ile satışların maliyeti (SM) ve satışlar ile toplam yönetim giderleri (TY) arasındaki asimetrik maliyet davranışı ilişkisi panel saklı eşbütünleşme tekniği yardımı ile araştırılmıştır. Bu teknik sayesinde, incelenen maliyet değişkenlerinin uzun dönemdeki pozitif ve negatif şoklarının asimetrik davranış farklılıkları ortaya konulmuştur. 2007’nin ilk çeyreğinden 2015’in ikinci çeyreğine kadar olan dönemi kapsayan çalışmanın sonucunda; hem faaliyet hacmindeki artış, hem de faaliyet hacmindeki azalış durumlarında maliyet yapışkanlığının varlığına dair kanıtlara ulaşılmıştır. Elde edilen sonuçlar incelendiğinde, satışlar – toplam yönetim giderleri eşleşmesi için test edilen maliyet yapışkanlığının, satışlar – satışların maliyeti eşleşmesi için test edilen maliyet yapışkanlığından daha uzun süre kalıcı olduğu tespit edilmiştir. Ayrıca, eşbütünleşme ilişkisinin negatif şoklar durumunda daha uzun süre kalıcı olduğu görülmüştür.

Keywords

Borsa İstanbul, Maliyet Yapışkanlığı, Asimetrik Maliyet Davranışı, Panel Saklı Eşbütünleşme

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