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Karlılığı Belirleyen Finansal Faktörler: BIST’te İşlem Gören İmalat Sanayi Firmaları Üzerine Bir Araştırma

Year 2016, Volume: 3 Issue: 1, 0 - , 16.01.2016
https://doi.org/10.17541/oeybd.26157

Abstract

Bu çalışmanın amacı Borsa İstanbul’da (BİST) hisse senetleri işlem gören imalat sanayi firmalarının karlılığını belirleyen finansal faktörlerin tespit edilmesidir. Araştırmada 2005-2012 yılları arasında BİST imalat sanayide işlem gören 136 firmanın verilerinden yararlanılmıştır. Araştırmada panel veri analizi kullanılmıştır. Yapılan analizler sonucunda ROA ve ROE ile toplam varlıklar arasında pozitif bir ilişki; buna karşın kaldıraç oranı arasında ise negatif bir ilişki tespit edilmiştir. Cari oran ve firma yaşı ile karlılık arasında istatistiksel olarak anlamlı olmayan sonuçlar elde edilmiştir.

References

  • Andres, de P. A., Azofra, V. & Lopez, F. (2005). Corporate Boards in Some OECD Countries: Size, Composition, Functioning and Effectiveness. Corporate Governance. An International Review, 13, 197- 210.
  • Arosa, B., Iturralde T. & Maseda A. (2010). Ownership Structure and Firm Performance In Non-Listed Firms: Evidence From Spain. Journal of Family Business Strategy.- Elsevier. 1 (2), 88- 96.
  • Arosa B., Iturralde T. & Maseda A. (2013). The Board Structure and Firm Performance in Smes: Evidence from Spain. Investigaciones Europeas de Dirección y Economía de la Empresa, 19, 127– 135.
  • Aydın G. (2009). Tüketici Temelli Marka Değerinin Firmaların Finansal Performansı Üzerine Etkisi: Türkiye’de Bir Çalışma. (Yayınlanmamış Doktora Tezi). İstanbul Teknik Üniversitesi, İstanbul.
  • Baptista, M. A. A., Klotzle, M.C. & Melo, M.A.C. (2011). Ceo Duality and Firm Performance in Brazil: Evidence From 2008. Revista Persamento Contemporaneo em Aministracao, UFF, 11, 36- 55.
  • Bennedsen, M., Kongsted, H. C. & Nielsen, K. M. (2008). The Causal Effect of Board Size in the Performance of Small and Medium-Sized Firms. Journal of Banking & Finance, 32, 1098- 1109.
  • Bouaziz, Z. & Triki, M. (2012). The İmpact of The Board of Directors on the Financial Performance of Tunisian Companies. Universal Journal of Marketing and Business Research, 1(2), 56- 71.
  • Bozec, R. (2005). Boards of Directors, Market Discipline and Firm Performance. Journal of Business Finance & Accounting, 32(9), 1921- 1960.
  • Cavaco, S., Challe, E., Crifo, P., Reberioux, A. & Roudaut, G. (2013). Board Independence and Operating Performance: Analysis On (French) Company and Individual Data. Departement D'economie, Ecole Polytechnique Centre National De La Recherche Scientifique, http://econpapers.repec.org/paper/drmwpaper/2014-2.htm, 01.07.2014.
  • Chen, L. (2012). The Effect of Ownership Structure on Firm Performance: Evidence from Non-financial Listed Companies in Scandinavia. Msc in Finance & International Business, Aarhus School of Business. Aarhus University.
  • Chen, Z.L., Cherung, Y.L., Stouraitis & Wong, A. W. S. (2005). Ownership Concentration, Firm Performance and Dividend Policy in Hong Kong. Pacific-Basin Finance Journal, 13 (4), 431- 449.
  • Cheng, S. (2008). Board Size and the Variability of Corporate Performance. Journal of Financial Economics, 87, 157– 176.
  • Cho, D. S. & Kim, J. (2007). Outside Directors, Ownership Structure and Firm Profitability in Korea. Corporate Governance: An International Review, 15, 239- 250.
  • Cornett, M. M., Marcus A. J., Saunders, A. & Tehranian, H. (2007). The Impact of Institutional Ownership on Corporate Operating Performance. Journal of Banking & Finance, 31, 1771– 1794.
  • Doğan M. & Elitaş, B.L. (2014). Çalışma Sermayesi Gereksiniminin Belirleyicileri: Borsa İstanbul Gıda Sektörü Üzerine Bir İnceleme, Muhasebe Bilim Dünyası Dergisi, 16(2), 1-14.
  • Ercan, M. K. & Ban, Ü. (2005). Değere Dayalı İşletme Finansı: Finansal Yönetim (4. Baskı). Ankara: Gazi Kitabevi.
  • Ehikioya, B. I. (2009). Corporate Governance Structure and Firm Performance in Developing Economies: Evidence from Nigeria. Corporate Governance, 9(3), 231- 243.
  • Eisenberg, T., Sundgren, S. & Wells, M. T. (1998). Larger Board Size and Decreasing Firm Value in Small Firms. Journal of Financial Economics, 48, 35- 54.
  • Elsayed, K. (2011). Board Size and Corporate Performance: The Missing Role of Board Leadership Structure. Journal of Management & Governance, 15(3), 415- 446.
  • Fauzi, F. & Locke, S. (2012). Board Structure, Ownership Structure and Firm Performance: A Study of New Zealand Listed-Firms. Asian Academy of Management Journal of Accounting and Finance, 8(2), 43– 67.
  • Guest, P. M. (2009). The Impact of Board Size on Firm Performance: Evidence From The UK. The European Journal of Finance. 15(4), 385- 404.
  • Guillet, B. D., Seo K., Küçükusta D. & Lee, S. (2013). CEO Duality and Firm Performance in The U.S. Restaurant Industry: Moderating Role of Restaurant Type. International Journal of Hospitality Management, 33, 339– 346.
  • Haniffa, R. & Hudaib, M. (2006). Corporate Governance Structure and Performance of Malaysian Listed Companies. Journal of Business Finance & Accounting, 33, 1034- 1062.
  • İskenderoğlu, Ö. (2008). İşletmelerin Büyümesinde Büyüklüğün Etkisi: Türkiye İçin Bir İnceleme. (Yayınlanmış Doktora Tezi). Çukurova Üniversitesi, Adana.
  • Kakani, K. Ram.-Saha, Biswatosh. & Reddy, N. V. (2001). Determinants of Financial Performance of Indian Corporate Sector in the Post-Liberalization Era: An Exploratory Study, NSE Research Initiative Paper, No. 5 PP12-30.
  • Kim, K. H. (2013). Deep Structures in CEO Duality-Firm Performance Linkage. International Management Review, 9(2), 11- 23.
  • Koerniadi, H. & Tourani-Rad A. (2012). Does Board Independence Matter? Evidence from New Zealand. Australasian Accounting Business and Finance Journal, 6(2), 3- 18.
  • Kyereboah-Coleman, A. (2007). Corporate Governance and Firm Performance in Africa: A Dynamic Panel Data Analysis, http://wuhjkww.ifc.org/wps/wcm/connect/2768a80048a7e7cbad47ef6060ad5911/Kyereboah-Coleuhjkman%2B %2BCorporate%2BGovernance.pdf?MOD=AJPERES&ContentCache=NONE, , 13.01.2014.
  • Liargovas, G. Panagitios & Skandalis, K. (2008). Factor affecting firms financial performance The Case of Greece, Global Business and Management Research: An International Journal, University of Peloponnese.
  • Lückerath-Rovers, M. (2010). Women on Board and Firm Performance. Journal of Corporate Governance, 1– 30, DOI 10.1007/s10997-011-9186-1, http://download.springer.com/static/pdf/96/art%253A10.1007%252Fs10997-011-9186-1.pdf?auth66=1416167068_199cc40999f7e7d4a7f2ca741f611a7b&ext=.pdf, 20.05.2014.
  • Majumdar, S. K. (1997). The Impact of Size and Age on Firm-Level Performance: Some Evidence from India. Review of Industrial Organization, 12 (2), 231- 241.
  • Moscu, R. G. (2013). The Relationship between Firm Performance and Bord Characteristics in Romania. International Journal of Academic Research in Economics and Management Sciences, 2(1), 167- 175.
  • Peng, M. W., Zhang, S. & Li, X. (2007). CEO Duality and Firm Performance during China’s Institutional Transitions. Management and Organization Review 3(2), 205– 225.
  • Postma, T. J. B. M., Ees H. V. & Sterken, E. (2003). Board Composition and Firm Performance in the Netherlands. Eastern Economic Journal, 29, 41- 58.
  • Rashid A., Zoysa A. D., Lodh S. & Rudkin K. (2010). Board Composition and Firm Performance: Evidence from Bangladesh. Australasian Accounting Business and Finance Journal, 4(1), 76- 95.
  • Rehman, A. & Shah S. Z. A. (2013). Board Independence, Ownership Structure and Firm Performance: Evidence from Pakistan. Interdisciplinary Journal of Contemporary Research In Business, 5(3), 832- 845.
  • Sayman, Y. (2012). Sahiplik Yapısının Firma Performansı Ve Sermaye Yapısı Üzerine Etkileri: İmkb’de İşlem Gören Üretim Firmalarında Bir Uygulama. (Yayınlanmamış Doktora Tezi). Ankara Üniversitesi, Ankara.
  • Sevinç, V. (2013). Türkiye’ye Gelen Yabancı Turist Sayısı, Amerikan Doları Kuru ve Ekonomik Kriz Yılları Arasında Bir Granger Nedensellik İlişkisi Analizi, Ekonomik ve Sosyal Araştırmalar Dergisi, 9(2), 233- 249.
  • Sueyoshi T., Goto M. & Omi Y. (2010). Corporate Governance and Firm Performance: Evidence from Japanese Manufacturing Industries after the Lost Decade. European Journal of Operational Research, 203, 724–736.
  • Taghizadeh, M. & Saremi S. Y. (2013). Board of Directors and Firms Performance: Evidence from Malaysian Public Listed Firm. DOI: 10.7763/IPEDR. . 59. 37, 178- 182, http://www.ipedr.com/vol59/037-ICEMM2013-P10030.pdf, 03.07.2014.
  • Tatoğlu, F. Y. (2013). İleri Panel Veri Analizi (2.Baskı). İstanbul: Beta Yayınevi.
  • Tian, J. J. & Lau, C. M. (2001). Board Composition, Leadership Structure and Performance in Chinese Shareholding Companies. Asia Pacific Journal of Management, 18, 245– 263.
  • Ujunwa, A. (2012). Board Characteristics and the Financial Performance of Nigerian Quoted Firms. Corporate Governance, 12(5), 1- 30.
  • Velnampy, T. (2013). Corporate Governance and Firm Performance: A Study of Sri Lankan Manufacturing Companies. Journal of Economics and Sustainable Development, 4(3), 228- 235.
  • Vo, D. & Phan, T. (2013). Corporate Governance and Firm Performance: Empirical Evidence From Vietnam, http://www.murdoch.edu.au/School-of-Management-and-Governance/_document/Australian-Conference-of-Economists/Corporate-governance-and-firm-performance.pdf, 03.12.2013.
  • Wang, Y. & Clift, B. (2009). Is There a “Business Case” for Board Diversity?. Pacific Accounting Review, 21(2), 88-103.
  • Wintoki, M. B., Linck, J. S. & Netter, J. M. (2012). Endogeneity and the Dynamics of Internal Corporate Governance. Journal of Financial Economics, 105, 581-606.
  • Younas, Z.I., Mahmood, H. & Saeed, A. (2013). Effect of Firm Performance on Corporate Governance a Panel Data Analysis. Asian Journal of Empirical Research, 3(1), 1- 8.
  • Yu, M. (2008). CEO Duality and Firm Performance for Chinese Shareholding Companies. 19th Chinese Economic Association (UK) Annual Conference, http://www.ceauk.org.uk/2008-conference-papers/YU-mei-CEO-duality-firm-performance-Chinese-shareholding-companies.pdf, 05.06.2014.
Year 2016, Volume: 3 Issue: 1, 0 - , 16.01.2016
https://doi.org/10.17541/oeybd.26157

Abstract

References

  • Andres, de P. A., Azofra, V. & Lopez, F. (2005). Corporate Boards in Some OECD Countries: Size, Composition, Functioning and Effectiveness. Corporate Governance. An International Review, 13, 197- 210.
  • Arosa, B., Iturralde T. & Maseda A. (2010). Ownership Structure and Firm Performance In Non-Listed Firms: Evidence From Spain. Journal of Family Business Strategy.- Elsevier. 1 (2), 88- 96.
  • Arosa B., Iturralde T. & Maseda A. (2013). The Board Structure and Firm Performance in Smes: Evidence from Spain. Investigaciones Europeas de Dirección y Economía de la Empresa, 19, 127– 135.
  • Aydın G. (2009). Tüketici Temelli Marka Değerinin Firmaların Finansal Performansı Üzerine Etkisi: Türkiye’de Bir Çalışma. (Yayınlanmamış Doktora Tezi). İstanbul Teknik Üniversitesi, İstanbul.
  • Baptista, M. A. A., Klotzle, M.C. & Melo, M.A.C. (2011). Ceo Duality and Firm Performance in Brazil: Evidence From 2008. Revista Persamento Contemporaneo em Aministracao, UFF, 11, 36- 55.
  • Bennedsen, M., Kongsted, H. C. & Nielsen, K. M. (2008). The Causal Effect of Board Size in the Performance of Small and Medium-Sized Firms. Journal of Banking & Finance, 32, 1098- 1109.
  • Bouaziz, Z. & Triki, M. (2012). The İmpact of The Board of Directors on the Financial Performance of Tunisian Companies. Universal Journal of Marketing and Business Research, 1(2), 56- 71.
  • Bozec, R. (2005). Boards of Directors, Market Discipline and Firm Performance. Journal of Business Finance & Accounting, 32(9), 1921- 1960.
  • Cavaco, S., Challe, E., Crifo, P., Reberioux, A. & Roudaut, G. (2013). Board Independence and Operating Performance: Analysis On (French) Company and Individual Data. Departement D'economie, Ecole Polytechnique Centre National De La Recherche Scientifique, http://econpapers.repec.org/paper/drmwpaper/2014-2.htm, 01.07.2014.
  • Chen, L. (2012). The Effect of Ownership Structure on Firm Performance: Evidence from Non-financial Listed Companies in Scandinavia. Msc in Finance & International Business, Aarhus School of Business. Aarhus University.
  • Chen, Z.L., Cherung, Y.L., Stouraitis & Wong, A. W. S. (2005). Ownership Concentration, Firm Performance and Dividend Policy in Hong Kong. Pacific-Basin Finance Journal, 13 (4), 431- 449.
  • Cheng, S. (2008). Board Size and the Variability of Corporate Performance. Journal of Financial Economics, 87, 157– 176.
  • Cho, D. S. & Kim, J. (2007). Outside Directors, Ownership Structure and Firm Profitability in Korea. Corporate Governance: An International Review, 15, 239- 250.
  • Cornett, M. M., Marcus A. J., Saunders, A. & Tehranian, H. (2007). The Impact of Institutional Ownership on Corporate Operating Performance. Journal of Banking & Finance, 31, 1771– 1794.
  • Doğan M. & Elitaş, B.L. (2014). Çalışma Sermayesi Gereksiniminin Belirleyicileri: Borsa İstanbul Gıda Sektörü Üzerine Bir İnceleme, Muhasebe Bilim Dünyası Dergisi, 16(2), 1-14.
  • Ercan, M. K. & Ban, Ü. (2005). Değere Dayalı İşletme Finansı: Finansal Yönetim (4. Baskı). Ankara: Gazi Kitabevi.
  • Ehikioya, B. I. (2009). Corporate Governance Structure and Firm Performance in Developing Economies: Evidence from Nigeria. Corporate Governance, 9(3), 231- 243.
  • Eisenberg, T., Sundgren, S. & Wells, M. T. (1998). Larger Board Size and Decreasing Firm Value in Small Firms. Journal of Financial Economics, 48, 35- 54.
  • Elsayed, K. (2011). Board Size and Corporate Performance: The Missing Role of Board Leadership Structure. Journal of Management & Governance, 15(3), 415- 446.
  • Fauzi, F. & Locke, S. (2012). Board Structure, Ownership Structure and Firm Performance: A Study of New Zealand Listed-Firms. Asian Academy of Management Journal of Accounting and Finance, 8(2), 43– 67.
  • Guest, P. M. (2009). The Impact of Board Size on Firm Performance: Evidence From The UK. The European Journal of Finance. 15(4), 385- 404.
  • Guillet, B. D., Seo K., Küçükusta D. & Lee, S. (2013). CEO Duality and Firm Performance in The U.S. Restaurant Industry: Moderating Role of Restaurant Type. International Journal of Hospitality Management, 33, 339– 346.
  • Haniffa, R. & Hudaib, M. (2006). Corporate Governance Structure and Performance of Malaysian Listed Companies. Journal of Business Finance & Accounting, 33, 1034- 1062.
  • İskenderoğlu, Ö. (2008). İşletmelerin Büyümesinde Büyüklüğün Etkisi: Türkiye İçin Bir İnceleme. (Yayınlanmış Doktora Tezi). Çukurova Üniversitesi, Adana.
  • Kakani, K. Ram.-Saha, Biswatosh. & Reddy, N. V. (2001). Determinants of Financial Performance of Indian Corporate Sector in the Post-Liberalization Era: An Exploratory Study, NSE Research Initiative Paper, No. 5 PP12-30.
  • Kim, K. H. (2013). Deep Structures in CEO Duality-Firm Performance Linkage. International Management Review, 9(2), 11- 23.
  • Koerniadi, H. & Tourani-Rad A. (2012). Does Board Independence Matter? Evidence from New Zealand. Australasian Accounting Business and Finance Journal, 6(2), 3- 18.
  • Kyereboah-Coleman, A. (2007). Corporate Governance and Firm Performance in Africa: A Dynamic Panel Data Analysis, http://wuhjkww.ifc.org/wps/wcm/connect/2768a80048a7e7cbad47ef6060ad5911/Kyereboah-Coleuhjkman%2B %2BCorporate%2BGovernance.pdf?MOD=AJPERES&ContentCache=NONE, , 13.01.2014.
  • Liargovas, G. Panagitios & Skandalis, K. (2008). Factor affecting firms financial performance The Case of Greece, Global Business and Management Research: An International Journal, University of Peloponnese.
  • Lückerath-Rovers, M. (2010). Women on Board and Firm Performance. Journal of Corporate Governance, 1– 30, DOI 10.1007/s10997-011-9186-1, http://download.springer.com/static/pdf/96/art%253A10.1007%252Fs10997-011-9186-1.pdf?auth66=1416167068_199cc40999f7e7d4a7f2ca741f611a7b&ext=.pdf, 20.05.2014.
  • Majumdar, S. K. (1997). The Impact of Size and Age on Firm-Level Performance: Some Evidence from India. Review of Industrial Organization, 12 (2), 231- 241.
  • Moscu, R. G. (2013). The Relationship between Firm Performance and Bord Characteristics in Romania. International Journal of Academic Research in Economics and Management Sciences, 2(1), 167- 175.
  • Peng, M. W., Zhang, S. & Li, X. (2007). CEO Duality and Firm Performance during China’s Institutional Transitions. Management and Organization Review 3(2), 205– 225.
  • Postma, T. J. B. M., Ees H. V. & Sterken, E. (2003). Board Composition and Firm Performance in the Netherlands. Eastern Economic Journal, 29, 41- 58.
  • Rashid A., Zoysa A. D., Lodh S. & Rudkin K. (2010). Board Composition and Firm Performance: Evidence from Bangladesh. Australasian Accounting Business and Finance Journal, 4(1), 76- 95.
  • Rehman, A. & Shah S. Z. A. (2013). Board Independence, Ownership Structure and Firm Performance: Evidence from Pakistan. Interdisciplinary Journal of Contemporary Research In Business, 5(3), 832- 845.
  • Sayman, Y. (2012). Sahiplik Yapısının Firma Performansı Ve Sermaye Yapısı Üzerine Etkileri: İmkb’de İşlem Gören Üretim Firmalarında Bir Uygulama. (Yayınlanmamış Doktora Tezi). Ankara Üniversitesi, Ankara.
  • Sevinç, V. (2013). Türkiye’ye Gelen Yabancı Turist Sayısı, Amerikan Doları Kuru ve Ekonomik Kriz Yılları Arasında Bir Granger Nedensellik İlişkisi Analizi, Ekonomik ve Sosyal Araştırmalar Dergisi, 9(2), 233- 249.
  • Sueyoshi T., Goto M. & Omi Y. (2010). Corporate Governance and Firm Performance: Evidence from Japanese Manufacturing Industries after the Lost Decade. European Journal of Operational Research, 203, 724–736.
  • Taghizadeh, M. & Saremi S. Y. (2013). Board of Directors and Firms Performance: Evidence from Malaysian Public Listed Firm. DOI: 10.7763/IPEDR. . 59. 37, 178- 182, http://www.ipedr.com/vol59/037-ICEMM2013-P10030.pdf, 03.07.2014.
  • Tatoğlu, F. Y. (2013). İleri Panel Veri Analizi (2.Baskı). İstanbul: Beta Yayınevi.
  • Tian, J. J. & Lau, C. M. (2001). Board Composition, Leadership Structure and Performance in Chinese Shareholding Companies. Asia Pacific Journal of Management, 18, 245– 263.
  • Ujunwa, A. (2012). Board Characteristics and the Financial Performance of Nigerian Quoted Firms. Corporate Governance, 12(5), 1- 30.
  • Velnampy, T. (2013). Corporate Governance and Firm Performance: A Study of Sri Lankan Manufacturing Companies. Journal of Economics and Sustainable Development, 4(3), 228- 235.
  • Vo, D. & Phan, T. (2013). Corporate Governance and Firm Performance: Empirical Evidence From Vietnam, http://www.murdoch.edu.au/School-of-Management-and-Governance/_document/Australian-Conference-of-Economists/Corporate-governance-and-firm-performance.pdf, 03.12.2013.
  • Wang, Y. & Clift, B. (2009). Is There a “Business Case” for Board Diversity?. Pacific Accounting Review, 21(2), 88-103.
  • Wintoki, M. B., Linck, J. S. & Netter, J. M. (2012). Endogeneity and the Dynamics of Internal Corporate Governance. Journal of Financial Economics, 105, 581-606.
  • Younas, Z.I., Mahmood, H. & Saeed, A. (2013). Effect of Firm Performance on Corporate Governance a Panel Data Analysis. Asian Journal of Empirical Research, 3(1), 1- 8.
  • Yu, M. (2008). CEO Duality and Firm Performance for Chinese Shareholding Companies. 19th Chinese Economic Association (UK) Annual Conference, http://www.ceauk.org.uk/2008-conference-papers/YU-mei-CEO-duality-firm-performance-Chinese-shareholding-companies.pdf, 05.06.2014.
There are 49 citations in total.

Details

Primary Language Turkish
Journal Section Articles
Authors

Mesut Doğan

Yusuf Topal

Publication Date January 16, 2016
Submission Date November 15, 2015
Published in Issue Year 2016 Volume: 3 Issue: 1

Cite

APA Doğan, M., & Topal, Y. (2016). Karlılığı Belirleyen Finansal Faktörler: BIST’te İşlem Gören İmalat Sanayi Firmaları Üzerine Bir Araştırma. Optimum Ekonomi Ve Yönetim Bilimleri Dergisi, 3(1). https://doi.org/10.17541/oeybd.26157
AMA Doğan M, Topal Y. Karlılığı Belirleyen Finansal Faktörler: BIST’te İşlem Gören İmalat Sanayi Firmaları Üzerine Bir Araştırma. OJEMS. January 2016;3(1). doi:10.17541/oeybd.26157
Chicago Doğan, Mesut, and Yusuf Topal. “Karlılığı Belirleyen Finansal Faktörler: BIST’te İşlem Gören İmalat Sanayi Firmaları Üzerine Bir Araştırma”. Optimum Ekonomi Ve Yönetim Bilimleri Dergisi 3, no. 1 (January 2016). https://doi.org/10.17541/oeybd.26157.
EndNote Doğan M, Topal Y (January 1, 2016) Karlılığı Belirleyen Finansal Faktörler: BIST’te İşlem Gören İmalat Sanayi Firmaları Üzerine Bir Araştırma. Optimum Ekonomi ve Yönetim Bilimleri Dergisi 3 1
IEEE M. Doğan and Y. Topal, “Karlılığı Belirleyen Finansal Faktörler: BIST’te İşlem Gören İmalat Sanayi Firmaları Üzerine Bir Araştırma”, OJEMS, vol. 3, no. 1, 2016, doi: 10.17541/oeybd.26157.
ISNAD Doğan, Mesut - Topal, Yusuf. “Karlılığı Belirleyen Finansal Faktörler: BIST’te İşlem Gören İmalat Sanayi Firmaları Üzerine Bir Araştırma”. Optimum Ekonomi ve Yönetim Bilimleri Dergisi 3/1 (January 2016). https://doi.org/10.17541/oeybd.26157.
JAMA Doğan M, Topal Y. Karlılığı Belirleyen Finansal Faktörler: BIST’te İşlem Gören İmalat Sanayi Firmaları Üzerine Bir Araştırma. OJEMS. 2016;3. doi:10.17541/oeybd.26157.
MLA Doğan, Mesut and Yusuf Topal. “Karlılığı Belirleyen Finansal Faktörler: BIST’te İşlem Gören İmalat Sanayi Firmaları Üzerine Bir Araştırma”. Optimum Ekonomi Ve Yönetim Bilimleri Dergisi, vol. 3, no. 1, 2016, doi:10.17541/oeybd.26157.
Vancouver Doğan M, Topal Y. Karlılığı Belirleyen Finansal Faktörler: BIST’te İşlem Gören İmalat Sanayi Firmaları Üzerine Bir Araştırma. OJEMS. 2016;3(1).

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