YÖNETİM KURULU YAPISININ BORÇLANMA MALİYETİ ÜZERİNE ETKİSİ: BIST İMALAT SEKTÖRÜ FİRMALARINDA BİR ARAŞTIRMA

Year 2025, Volume: 27 Issue: IERFM 2025 Özel Sayı, 205 - 226, 14.03.2025

Filiz Özşahin Koç , Ali Deran

https://doi.org/10.26468/trakyasobed.1515405

Abstract

Bu çalışmanın amacı, firmaların yönetim kurulu yapısının borçlanma maliyeti üzerine etkisini araştırmaktır. Bu amaç doğrultusunda, 2017-2021 yılları arasında Borsa İstanbul (BIST) imalat sektöründe faaliyette bulunan 150 firmanın verisi incelenmiştir. Araştırmada panel veri analizi yöntemi kullanılmıştır. Analizler neticesinde cinsiyet çeşitliliği, yönetim kurulu bağımsızlığı, büyüklük, aktif kârlılık, maddi varlıklar, firma yaşı, finansal kaldıraç ve satışlardaki büyüme yüzdesinin borçlanma maliyeti üzerinde etkisi olduğu bulgusu elde edilmiştir. Bununla birlikte, yönetim kurulu başkanının cinsiyeti, yönetim kurulunun büyüklüğü ve likidite değişkenlerinin borçlanma maliyeti üzerinde anlamlı bir etkisi bulunmadığı tespit edilmiştir. Uluslararası literatürde yönetim kurulu yapısının borçlanma maliyeti üzerine etkisini inceleyen çalışmalar bulunmakla birlikte, ulusal literatürde bu konuda Türkiye örnekleminde sınırlı sayıda çalışma yer almakta olup BİST imalat sektöründe yer alan firmaların yönetim kurulu yapıları ile borçlanma maliyeti arasındaki ilişkiyi araştırmayı amaçlayan bu çalışmanın literatürdeki eksikliği tamamlayacağı düşünülmektedir.

Keywords

Borçlanma Maliyeti, Yönetim Kurulu Çeşitliliği, Panel Veri Analizi

Ethical Statement

Yok

Supporting Institution

Yok

Project Number

Yok

Thanks

Yok

THE IMPACT OF BOARD STRUCTURE ON COST OF DEBT: A RESEARCH ON BIST MANUFACTURING SECTOR COMPANIES

Abstract

The goal of this research is to investigate the impact of the board structure of firms on the cost of debt. Therefore, the data of 150 firms listed in the “Borsa Istanbul (BIST) manufacturing sector” between 2017-2021 are analyzed. “Panel data analysis” method is administered in the research. It is found that gender diversity, board independence, size, return on assets, tangible assets, firm age, financial leverage and percentage of sales growth have an impact on the cost of debt. However, the gender of the chairman, board size and liquidity variables are found to have no significant impact on the cost of debt. While there are studies in the international literature that examine the effect of board structure on the cost of debt, there is a limited number of studies in the national literature on this issue in the Turkish sample. This research, which aims to investigate the relationship between the board structure and the cost of debt of firms in the BIST manufacturing sector, is thought to complement the gap in the literature.

Keywords

Cost of Debt, Board Diversity, Panel Data Analysis

Ethical Statement

None

Supporting Institution

None

Project Number

Yok

Thanks

None

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