The aim of this paper is to investigate Turkey’s largest 500 industrial enterprises and whether capital and customized capital persists to profitability of firms with public capital, private in active 1993-2016. For this purpose, the panel unit root test is applied for all three sample groups, and then the long run competition intensity and the profitability coefficient estimate are analyzed using the panel VAR method. The results indicate that long run profitability is not permanent for all firms under analysis. In addition, the highest long run asset return ratio coefficient belongs to private firms, while the highest return pn equity and profit margins belong to firms with public capital.
Çalışmanın amacı Türkiye’nin en büyük 500 sanayi kuruluşu içerisinde yer alan ve 1993-2016 döneminde faaliyette bulunan kamusal sermayeli, özel sermayeli ve sermayesi sonradan özelleştirilen firmaların karlılıklarının sürdürülebilir olup olmamasının araştırılmasıdır. Bu amaç doğrultusunda her üç örneklem grubu için panel birim kök testi sınaması yapılmış ve ardından uzun dönem rekabet yoğunluğu ve karlılık oranı katsayısı tahmini panel VAR yöntemi kullanılarak analiz edilmiştir. Elde edilen sonuçlar analiz kapsamındaki tüm firmalar için uzun dönemde karlılığın kalıcı olmadığını göstermiştir. Ayrıca uzun dönemde en yüksek aktif karlılık oranı katsayısı özel sermayeli firmalara aitken, en yüksek özsermaye karlılık ve kar marjı katsayısı kamusal sermayeli firmalara aittir.
Primary Language | Turkish |
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Journal Section | MAIN SECTION |
Authors | |
Publication Date | December 27, 2018 |
Submission Date | June 27, 2018 |
Published in Issue | Year 2018 Volume: 20 - Special Issue of MODAV 15. International Conference on Accounting |
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