Entelektüel Sermaye Bileşenlerinin Teknoloji Şirketleri Üzerine Etkisi: BİST’ de Ampirik Bir Uygulama

Yıl 2019, Sayı: 83, 111 - 130, 01.07.2019

Gülsün İşseveroğlu , Cuma Ercan

https://doi.org/10.25095/mufad.579827

Cited By: 3

Öz

Çalışmanın amacı, Borsa İstanbul'da (BIST TÜM-100) faaliyet gösteren 15 teknoloji şirketinin 2008-2017 yılarını kapsayan on yıllık mali tablolarından hareketle entelektüel sermaye unsurlarının karlılık ve verimlilik üzerindeki katma değer etkinliğini araştırmaktır. Bu amaçla 15 teknoloji firmasının entelektüel sermaye etkinliği entelektüel katma değer katsayısı yöntemi kullanılarak ölçülmüştür.

Teknoloji şirketlerinin entelektüel sermaye etkinliği yıllarca süren çalışmalara dayanmaktadır. Bu nedenle on yıllık mali tablo verileri Panel veri teknikleri kullanılarak analiz edilmiştir. Modelde kullanılacak olan serilerin “birim kök testleri” yapılmış, serilerin durağan olup olmadığı incelenmiş, serilerin durağan olduğu belirlendikten sonra regresyon modelleri elde edilmiştir. Entelektüel sermaye bileşenlerinin etkinliği ile finansal performans ölçütleri olan karlılık ve verimlilik arasındaki ilişkiler ölçülmüştür. Analiz sonucunda elde edilen modellerde, insan sermayesi etkinliğinin karlılık üzerinde önemli katkısı olduğu ancak verimlilik üzerindeki katkısının düşük olduğu belirlenmiştir.

Anahtar Kelimeler

Entelektüel Sermaye, Panel Veri Analizi, Entelektüel Katma Değer Katsayısı (VAIC) Yöntemi, Teknoloji Şirketleri, Borsa İstanbul (BİST)

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