Öz
Amaç - Bu çalışmanın amacı, İstanbul Menkul Kıymetler Borsası Enerji Şirketleri'nin bazı performans ölçüm yöntemlerinin 8 yıllık bir dönemdeki stok fiyatlarına olan etkisini incelemektir.
Yöntem- Performans ölçümlerinin stok fiyatları üzerindeki etkisini analiz edebilmek için öncelikle BIST'te sıralanan en büyük enerji sektörü şirketleri seçilecektir. 2010 - 2018 arasındaki çeyrek dönemler için her şirket için ROE ve ROIC hesaplanacaktır. Bu sonuçlara dayanarak 2 değişkeni, performans ölçüm yöntemleri ve hisse senedi fiyatları olan bir regresyon modeli uygulanacak ve sonuçlar yorumlanacaktır.
Bulgular- Çalışmamızda değişkenler arasında periyodik bağlantıların olabileceğini gösteren tabloları sunduk .
Sonuç- Değişkenler arasında bazı bağlantıların olduğu gözlemlenmektedir, ancak firmanın performanslarını daha iyi değerlendirebilmek için diğer performans ölçüm yöntemlerinin ve diğer etkilerinin de analiz edilmesi gerekmektedir.
Anahtar Kelimeler
Kaynakça
- Hakan Cavlak ,Yasin Cebeci, Necati Güneş, (2017), Nakit Akış tablolarının İçerik Analiz Yöntemi ile değerlendirilmesi., International Journal of Academic Value Studies, Vol:3, Issue:13, 234-246, DOI: 10.23929/javs.404
- Jeffrey Hales and Steven F. Orpurt (2013) A Review of Academic Research on the Reporting of Cash Flows from Operations. Accounting Horizons: September 2013, Vol. 27, No. 3, pp. 539-578. DOI: /10.2308/acch-50498
- Lawson, G. H. 1970. Radical change in financial reports. Financial Times (July 15).
- Lawson, G. H. 1978. The rationale of cash flow accounting. In Trends in Managerial and Financial Accounting, edited by C. van Dam, 85–104. Leiden, The Netherlands: Martinus Nijhoff Publishers.
- Lee, T. A. 1981. Cash flow accounting and corporate financial reporting. In Essays in British Accounting Research, edited by Bromwich, M., and A. Hopwood, 63–78. London, U.K.: Pitman Publishing
- Lee, T. A. 1992. Cash Flow Reporting’s Recent History: A Kuhnian Interpretation of a Changing Accounting Emphasis. Working paper, The University of Alabama
- Clark, R. S. 1983. Statement of changes: In need of a change? CA Magazine (February): 26–30
- Seed, A. H. 1984. The Funds Statement: Structure and Use. Morristown, NJ: Financial Executives Research Foundation
- Aswath Damodaran, 2007, Return on Capital (ROC), Return on Invested Capital (ROIC) and Return on Equity (ROE): Measurement and Implications, NYU Stern School of Business
- Taş, Oktay 2014. Performans Ölçüm Metotlarını Karşılaştırma, İstanbul Teknik Üniversitesi
Öz
Purpose - The purpose of this study is to analyze the effect of the change of some performance measurement methods of Istanbul Stock Exchange Energy Companies on their stock prices in a 8 year period.
Methodology - In order to analyze the effect of the performance measurements on stock prices, first of all the top energy sector companies which are listed in BIST will be selected. For the quarterly periods between 2010 – 2018, the ROE, ROIC and CROGI will be calculated for each company. A regression model with 2 variables the performance measurement methods and the stock prices will be applied.
Findings- In our study, we have summarized our findings on the tables showing there could be some periodical connections.
Conclusion- It is observed that there are periodical connections between the variables, however, also the other performance measurement methods’ effects should be analyzed.
Anahtar Kelimeler
Kaynakça
- Hakan Cavlak ,Yasin Cebeci, Necati Güneş, (2017), Nakit Akış tablolarının İçerik Analiz Yöntemi ile değerlendirilmesi., International Journal of Academic Value Studies, Vol:3, Issue:13, 234-246, DOI: 10.23929/javs.404
- Jeffrey Hales and Steven F. Orpurt (2013) A Review of Academic Research on the Reporting of Cash Flows from Operations. Accounting Horizons: September 2013, Vol. 27, No. 3, pp. 539-578. DOI: /10.2308/acch-50498
- Lawson, G. H. 1970. Radical change in financial reports. Financial Times (July 15).
- Lawson, G. H. 1978. The rationale of cash flow accounting. In Trends in Managerial and Financial Accounting, edited by C. van Dam, 85–104. Leiden, The Netherlands: Martinus Nijhoff Publishers.
- Lee, T. A. 1981. Cash flow accounting and corporate financial reporting. In Essays in British Accounting Research, edited by Bromwich, M., and A. Hopwood, 63–78. London, U.K.: Pitman Publishing
- Lee, T. A. 1992. Cash Flow Reporting’s Recent History: A Kuhnian Interpretation of a Changing Accounting Emphasis. Working paper, The University of Alabama
- Clark, R. S. 1983. Statement of changes: In need of a change? CA Magazine (February): 26–30
- Seed, A. H. 1984. The Funds Statement: Structure and Use. Morristown, NJ: Financial Executives Research Foundation
- Aswath Damodaran, 2007, Return on Capital (ROC), Return on Invested Capital (ROIC) and Return on Equity (ROE): Measurement and Implications, NYU Stern School of Business
- Taş, Oktay 2014. Performans Ölçüm Metotlarını Karşılaştırma, İstanbul Teknik Üniversitesi
Ayrıntılar
| Birincil Dil | İngilizce |
|---|---|
| Bölüm | Makaleler |
| Yazarlar | |
| Yayımlanma Tarihi | 30 Aralık 2018 |
| Yayımlandığı Sayı | Yıl 2018 Cilt: 8 Sayı: 1 |
Kaynak Göster
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