Year 2019, Volume 27 , Issue 42, Pages 145 - 162 2019-10-31

The Factors Affecting Capital Structure: A Panel Data Analysis in the Context of Behavioural Corporate Finance
Sermaye Yapısı Üzerinde Etkili Faktörler: Davranışsal Kurumsal Finans Bağlamında Bir Panel Veri Analizi

Bilgehan TEKİN [1]


In this study, the effects of “Real Sector Confidence Index” as well as the effects of firmspecific and macroeconomic factors on the capital structure were investigated. In line with the studies conducted in behavioral corporate finance, Real Sector Confidence Index has been considered as a measure of the overconfidence of managers. Other variables considered in the study are net sales, change in assets, return on assets, gross domestic product and inflation. In the study, leverage ratio is used as the variable capturing the capital structure. Fims listed in the BIST Industry Index were examined using panel data analysis. According to the results of the study, no evidence could be found towards an effect of Real Sector Confidence Index on capital structure. However, the effect of other variables on capital structure has been determined at certain levels of confidence.
Bu çalışmada firmaya özgü ve makroekonomik faktörlerin yanı sıra “Reel Kesim Güven Endeksinin” sermaye yapısı üzerindeki etkisi araştırılmıştır. Reel kesim güven endeks verileri davranışsal kurumsal finans çerçevesinde yapılan çalışmalara paralel olarak yöneticilerin kendine aşırı güvenlerinin bir ölçüsü kabul edilmiştir. Çalışmada dikkate alınan diğer değişkenler net satışlar, aktiflerdeki değişim, aktif kârlılığı, gayri safi yurtiçi hâsıla ve enflasyondur. Çalışmada sermaye yapısı değişkeni olarak kaldıraç oranı kullanılmıştır. BIST SINAİ endeksi firmaları üzerine yapılan çalışmada panel veri analizi yöntemi kullanılmıştır. Çalışma sonucunda Reel Kesim Güven Endeksinin sermaye yapısı üzerinde bir etkisi tespit edilememiş bununla birlikte diğer değişkenlerin sermaye yapısı üzerinde belirli düzeylerde etkisi tespit edilmiştir.
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Primary Language tr
Subjects Social
Journal Section Articles
Authors

Orcid: 0000-0002-4926-3317
Author: Bilgehan TEKİN (Primary Author)
Institution: ÇANKIRI KARATEKİN ÜNİVERSİTESİ
Country: Turkey


Dates

Publication Date : October 31, 2019

Bibtex @research article { sosyoekonomi481346, journal = {Sosyoekonomi}, issn = {1305-5577}, address = {}, publisher = {Sosyoekonomi Society}, year = {2019}, volume = {27}, pages = {145 - 162}, doi = {10.17233/sosyoekonomi.2019.04.08}, title = {Sermaye Yapısı Üzerinde Etkili Faktörler: Davranışsal Kurumsal Finans Bağlamında Bir Panel Veri Analizi}, key = {cite}, author = {TEKİN, Bilgehan} }
APA TEKİN, B . (2019). Sermaye Yapısı Üzerinde Etkili Faktörler: Davranışsal Kurumsal Finans Bağlamında Bir Panel Veri Analizi. Sosyoekonomi , 27 (42) , 145-162 . DOI: 10.17233/sosyoekonomi.2019.04.08
MLA TEKİN, B . "Sermaye Yapısı Üzerinde Etkili Faktörler: Davranışsal Kurumsal Finans Bağlamında Bir Panel Veri Analizi". Sosyoekonomi 27 (2019 ): 145-162 <https://dergipark.org.tr/en/pub/sosyoekonomi/issue/49534/481346>
Chicago TEKİN, B . "Sermaye Yapısı Üzerinde Etkili Faktörler: Davranışsal Kurumsal Finans Bağlamında Bir Panel Veri Analizi". Sosyoekonomi 27 (2019 ): 145-162
RIS TY - JOUR T1 - Sermaye Yapısı Üzerinde Etkili Faktörler: Davranışsal Kurumsal Finans Bağlamında Bir Panel Veri Analizi AU - Bilgehan TEKİN Y1 - 2019 PY - 2019 N1 - doi: 10.17233/sosyoekonomi.2019.04.08 DO - 10.17233/sosyoekonomi.2019.04.08 T2 - Sosyoekonomi JF - Journal JO - JOR SP - 145 EP - 162 VL - 27 IS - 42 SN - 1305-5577- M3 - doi: 10.17233/sosyoekonomi.2019.04.08 UR - https://doi.org/10.17233/sosyoekonomi.2019.04.08 Y2 - 2019 ER -
EndNote %0 Sosyoekonomi Sermaye Yapısı Üzerinde Etkili Faktörler: Davranışsal Kurumsal Finans Bağlamında Bir Panel Veri Analizi %A Bilgehan TEKİN %T Sermaye Yapısı Üzerinde Etkili Faktörler: Davranışsal Kurumsal Finans Bağlamında Bir Panel Veri Analizi %D 2019 %J Sosyoekonomi %P 1305-5577- %V 27 %N 42 %R doi: 10.17233/sosyoekonomi.2019.04.08 %U 10.17233/sosyoekonomi.2019.04.08
ISNAD TEKİN, Bilgehan . "Sermaye Yapısı Üzerinde Etkili Faktörler: Davranışsal Kurumsal Finans Bağlamında Bir Panel Veri Analizi". Sosyoekonomi 27 / 42 (October 2019): 145-162 . https://doi.org/10.17233/sosyoekonomi.2019.04.08
AMA TEKİN B . Sermaye Yapısı Üzerinde Etkili Faktörler: Davranışsal Kurumsal Finans Bağlamında Bir Panel Veri Analizi. Sosyoekonomi. 2019; 27(42): 145-162.
Vancouver TEKİN B . Sermaye Yapısı Üzerinde Etkili Faktörler: Davranışsal Kurumsal Finans Bağlamında Bir Panel Veri Analizi. Sosyoekonomi. 2019; 27(42): 162-145.