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Hisse Senedi Getirisi ve Sermaye Yapýsý Ýliþkisine Etki Eden Faktörlerin Yapýsal Eþitlik Modellemesi ile Analizi

Author

Listed:
  • Songül KAKÝLLÝ ACARAVCI

    (Hatay Mustafa Kemal Üniversitesi, Ýktisadi ve Ýdari Bilimler Fakültesi, Ýþletme Bölümü, Türkiye,)

  • Tülin URAL

    (Hatay Mustafa Kemal Üniversitesi, Ýktisadi ve Ýdari Bilimler Fakültesi, Ýþletme Bölümü, Türkiye,)

  • Yunus KARAÖMER

    (Hatay Mustafa Kemal Üniversitesi, Ýktisadi ve Ýdari Bilimler Fakültesi, Ýþletme Bölümü, Türkiye,)

Abstract

Portföy teorilerinde, rasyonel yatýrýmcýlarýn yatýrým kararlarý alýrken beklenen getiri ve riski dikkate alarak yatýrým yapacaklarý kabul edilmektedir. Dolayýsýyla hisse senedi getirisi bu anlamda önem kazanmakla birlikte firmalarýn borçlanma oranýna yönelik tutumlarý da risklerini etkilemektedir. Bu nedenle, literatürde hisse senedi getirisi ve sermaye yapýsý arasýndaki iliþkinin araþtýrýldýðý görülmektedir. Ancak, bir firmanýn hisse senedinin getirisi, firmaya özgü faktörlerden de etkilenebilmektedir. Hisse senedi getirisi ile sermaye yapýsý iliþkisi çeþitli açýlardan incelenmiþtir. Bu çalýþmada, bu iliþkiye etki etmesi olasý firmaya özgü faktörlerden büyüklük, büyüme fýrsatlarý, karlýlýk, varlýk yapýsý ve pazarlama yoðunluðu incelenmiþtir. Araþtýrma örneklemini, Borsa Ýstanbul’a kayýtlý imalat sanayi firmalarý oluþturmuþtur. Veriler 2017 yýlý dönemini kapsamaktadýr. Kuramsal modelde yer alan iliþkiler yapýsal eþitlik modellemesi gözlenen deðiþkenlerle yol analizi yapýlarak test edilmiþtir.

Suggested Citation

  • Songül KAKÝLLÝ ACARAVCI & Tülin URAL & Yunus KARAÖMER, 2018. "Hisse Senedi Getirisi ve Sermaye Yapýsý Ýliþkisine Etki Eden Faktörlerin Yapýsal Eþitlik Modellemesi ile Analizi," Isletme ve Iktisat Calismalari Dergisi, Econjournals, vol. 6(4), pages 26-38.
    • Handle: RePEc:eco:journ4:2018-04-4
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    References listed on IDEAS

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    More about this item

    Keywords

    Stock return; capital structure; structural equation modeling.;
    All these keywords.

    JEL classification:

    • G2 - Financial Economics - - Financial Institutions and Services
    • G32 - Financial Economics - - Corporate Finance and Governance - - - Financing Policy; Financial Risk and Risk Management; Capital and Ownership Structure; Value of Firms; Goodwill

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