SCALE STUDY ON LIFECYCLE STAGES IN PUBLIC COMPANIES

Abstract

The life cycles of companies consist of different phases. These stages also have different indicators and some of them can be observed easily and some of them can only be observed as a result of a study. With this study, it is aimed to develop a scale that will facilitate the determination of the stage of the life cycle of the companies. Companies that have opened their shares to public have been selected in order to develop a scale regarding the life cycle stages of the companies, considering that the companies should advance in the institutionalization process. In order to observe all the phases, two sample groups were created, namely, those that are still traded in the stock exchange and those that are excluded from the stock exchange. Significant indicators were determined by making use of the financial statements and annual reports published by the two selected groups of companies during the period they were traded on the stock exchange and the studies in this field. The change in the values of the determined indicators within years has been monitored and it has been tried to find out which phase in the life cycle of the companies these changes indicate. As a result of the study conducted by considering the values of the two groups, it has been determined that 13 indicators easily reflect the entry, growth, maturity, stagnation and decline phases of the listed companies. It is considered that the study can be useful for company founders, shareholders, potential investors and banks that will give loans to companies.

Keywords

• Listed companies
• lifecycle scale in companies
• indicator

HALKA AÇIK ŞİRKETLERDE YAŞAM DÖNGÜSÜ EVRELERİ ÜZERİNE ÖLÇEK ÇALIŞMASI

Öz

Şirketlerin yaşam döngüleri farklı evrelerden oluşmaktadır. Bu evreler de farklı göstergelere sahiptir ve bunların bir kısmı kolaylıkla, bir kısmı da ancak bir çalışma sonucunda gözlenebilmektedir. Bu çalışma ile şirketlerin yaşam döngülerinin hangi evresinde olduğunun tespitini kolaylaştıracak bir ölçeğin geliştirilmesi amaçlanmıştır. Şirketlerin yaşam döngüsü evrelerine dair bir ölçeğin geliştirilebilmesi için şirketlerin kurumsallaşma sürecinde ilerlemiş olması gereğinden hareketle, hisselerini halka açmış şirketler seçilmiştir. Tüm evrelerin gözlenebilmesi için borsa şirketlerinden halen borsada işlem görenler ve borsadan çıkarılanlar olmak üzere iki örnek grup oluşturulmuştur. Seçilen iki grup şirketin borsada işlem gördükleri süre içinde yayımladıkları mali tablolar ve faaliyet raporlarından ve bu alandaki çalışmalardan yararlanılarak anlamlı göstergeler belirlenmiştir. Belirlenen göstergelerin değerlerinde yıllar içindeki değişim izlenmiş ve bu değişimlerin şirketlerinin yaşam döngüsündeki hangi evreye işaret ettiği bulunmaya çalışılmıştır. İki grubun değerleri dikkate alınarak yapılan çalışma sonucunda göstergenin borsa şirketlerinin giriş, büyüme, olgunluk, durgunluk ve düşüş evrelerini rahatlıkla yansıttıkları tespit edilmiştir. Çalışmanın şirket kurucuları, hissedarları, potansiyel yatırımcılar ve şirketlere kredi verecek bankalar için yararlı olabileceği değerlendirilmektedir.

Anahtar Kelimeler

• Borsa şirketleri
• şirketlerde yaşam döngüsü ölçeği
• gösterge
• Listed companies
• lifecycle scale in companies
• indicator

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