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Performans Ölçütlerinin Hisse Senedi Getirilerini Açıklayabilme Gücü Üzerine Ampirik Bir Çalışma

Year 2012, Issue: 53, 139 - 158, 01.01.2012

Abstract

Bu çalışmanın amacı, finansal performans ölçütleri ile hisse senedi getirileri arasındaki ilişkinin varlığını test etmek ve ölçütlerin hisse senedi getirilerini açıklayabilme gücünü analiz etmektir. Bu kapsamda çalışmada panel veriler kullanılarak panel lojistik regresyon yöntemi uygulanmış ve regresyonun varsayımlarının neden olduğu kısıtların azaltılmasına çalışılmıştır. İstanbul Menkul Kıymetler Borsasının alt endeks grubunu oluşturan 146 imalat sanayi işletmesinden verileri sürekli olan 96 şirketin 1998–2007 yıllarına ilişkin yıllık veriler kullanılmıştır. Araştırmanın sonucunda, ilgili dönemde hisse senedi getirilerinin finansal performans ölçütleriyle istatistiksel olarak açıklanabildiği ancak bu açıklama gücünün çok yüksek düzeylerde olmadığı görülmüştür.

An Empirical Study on Performance Criteria's Explanatory Power of Stock Returns

Year 2012, Issue: 53, 139 - 158, 01.01.2012

Abstract

The aim of this study is to test the existence of relationship between financial performance criteria and stock returns and to analyze criteria's explanatory power of stock returns. In this scope, panel logistic regression analysis method was applied by using panel data and restrictions caused by regression hypothesis were tried to be decreased. Of all the 146 manufacturing industry companies which compose sub-index group of Istanbul Stock Exchange, 96 companies' annual data of the years 1998-2007 were used. As a result of the study, it was seen that stock returns can be explained statistically through performance criteria but the explanatory power is not so high.

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Details

Other ID JA69FZ22JS
Journal Section Research Article
Authors

Ali Bayrakdaroğlu This is me

Publication Date January 1, 2012
Submission Date January 1, 2012
Published in Issue Year 2012 Issue: 53

Cite

APA Bayrakdaroğlu, A. (2012). An Empirical Study on Performance Criteria’s Explanatory Power of Stock Returns. The Journal of Accounting and Finance(53), 139-158.
AMA Bayrakdaroğlu A. An Empirical Study on Performance Criteria’s Explanatory Power of Stock Returns. The Journal of Accounting and Finance. January 2012;(53):139-158.
Chicago Bayrakdaroğlu, Ali. “An Empirical Study on Performance Criteria’s Explanatory Power of Stock Returns”. The Journal of Accounting and Finance, no. 53 (January 2012): 139-58.
EndNote Bayrakdaroğlu A (January 1, 2012) An Empirical Study on Performance Criteria’s Explanatory Power of Stock Returns. The Journal of Accounting and Finance 53 139–158.
IEEE A. Bayrakdaroğlu, “An Empirical Study on Performance Criteria’s Explanatory Power of Stock Returns”, The Journal of Accounting and Finance, no. 53, pp. 139–158, January 2012.
ISNAD Bayrakdaroğlu, Ali. “An Empirical Study on Performance Criteria’s Explanatory Power of Stock Returns”. The Journal of Accounting and Finance 53 (January 2012), 139-158.
JAMA Bayrakdaroğlu A. An Empirical Study on Performance Criteria’s Explanatory Power of Stock Returns. The Journal of Accounting and Finance. 2012;:139–158.
MLA Bayrakdaroğlu, Ali. “An Empirical Study on Performance Criteria’s Explanatory Power of Stock Returns”. The Journal of Accounting and Finance, no. 53, 2012, pp. 139-58.
Vancouver Bayrakdaroğlu A. An Empirical Study on Performance Criteria’s Explanatory Power of Stock Returns. The Journal of Accounting and Finance. 2012(53):139-58.