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Finansman Kaynakları ile Firma Büyümesi Arasındaki İlişki: BİST Turizm Firmaları Üzerine Bir Uygulama

Yıl 2018, Cilt: 10 Sayı: 2, 1 - 8, 30.06.2018

Hakan Altın , Cemil Süslü

Öz

Bu
çalışmanın amacı BIST Turizm Endeksinde işlem gören firmaların finansal
kaynakları ve firma büyümesi arasındaki ilişkinin belirlenmesidir. İlk olarak,
tanımlayıcı istatistikler hesaplanmıştır. İkinci olarak, tam logaritmik bir
fonksiyona bir regresyon analizi uygulanmıştır. Son olarak, elde edilen
sonuçlar yorumlanmıştır. Sonuç olarak, finansman kaynakları hem borç hem de
özsemaye BIST Turizm firmalarının büyümesini pozitif etkilemektedir. Bulunan
sonuç finans literatürü ile uyumludur.

Anahtar Kelimeler

Finansman Kaynakları Firma Büyümesi

Kaynakça

  • Baker, M., & Wurgler, J. (2002). Market timing and capital structure. The journal of finance, 57(1), 1-32.
  • Berger, A. N., & Di Patti, E. B. (2006). Capital structure and firm performance: A new approach to testing agency theory and an application to the banking industry. Journal of Banking ve Finance, 30(4), 1065-1102.
  • Chen, J. J. (2004). Determinants of capital structure of Chinese-listed companies. Journal of Business research, 57(12), 1341-1351.
  • Coad, A., & Rao, R. (2008). Innovation and firm growth in high-tech sectors: A quantile regression approach. Research policy, 37(4), 633-648.
  • De Miguel, A., & Pindado, J. (2001). Determinants of capital structure: new evidence from Spanish panel data. Journal of corporate finance, 7(1), 77-99.
  • Deesomsak, R., Paudyal, K., & Pescetto, G. (2004). The determinants of capital structure: evidence from the Asia Pacific region. Journal of multinational financial management, 14(4-5), 387-405.
  • Fisman, R., & Svensson, J. (2007). Are corruption and taxation really harmful to growth? Firm level evidence. Journal of development economics, 83(1), 63-75.
  • Frank, M. Z., & Goyal, V. K. (2003). Testing the pecking order theory of capital structure. Journal of financial economics, 67(2), 217-248.
  • Frank, M. Z., & Goyal, V. K. (2009). Capital structure decisions: which factors are reliably important?. Financial management, 38(1), 1-37.
  • Freel, M. S., & Robson, P. J. (2004). Small firm innovation, growth and performance: Evidence from Scotland and Northern England. International Small Business Journal, 22(6), 561-575.
  • Goldstein, R., Ju, N., & Leland, H. (2001). An EBIT‐based model of dynamic capital structure. The Journal of Business, 74(4), 483-512.
  • Hackbarth, D., Miao, J., & Morellec, E. (2006). Capital structure, credit risk, and macroeconomic conditions. Journal of Financial Economics, 82(3), 519-550.
  • Korajczyk, R. A., & Levy, A. (2003). Capital structure choice: macroeconomic conditions and financial constraints. Journal of financial economics, 68(1), 75-109.
  • Michaelas, N., Chittenden, F., & Poutziouris, P. (1999). Financial policy and capital structure choice in UK SMEs: Empirical evidence from company panel data. Small business economics, 12(2), 113-130.
  • Modigliani, F., & Miller, M. H. (1958). The cost of capital, corporation finance and the theory of investment. The American economic review, 48(3), 261-297.
  • Modigliani, F., & Miller, M. H. (1963). Corporate income taxes and the cost of capital: a correction. The American economic review, 53(3), 433-443.
  • Myers, S. C. (2001). Capital structure. Journal of Economic perspectives, 15(2), 81-102.
  • Nichter, S., & Goldmark, L. (2009). Small firm growth in developing countries. World development, 37(9), 1453-1464.
  • Titman, S., & Wessels, R. (1988). The determinants of capital structure choice. The Journal of finance, 43(1), 1-19.
  • Ullah, B., & Wei, Z. (2017). Bank Financing and Firm Growth: Evidence from Transition Economies. Journal of Financial Research, 40(4), 507-534.

Yıl 2018, Cilt: 10 Sayı: 2, 1 - 8, 30.06.2018

Hakan Altın , Cemil Süslü

Öz

Kaynakça

  • Baker, M., & Wurgler, J. (2002). Market timing and capital structure. The journal of finance, 57(1), 1-32.
  • Berger, A. N., & Di Patti, E. B. (2006). Capital structure and firm performance: A new approach to testing agency theory and an application to the banking industry. Journal of Banking ve Finance, 30(4), 1065-1102.
  • Chen, J. J. (2004). Determinants of capital structure of Chinese-listed companies. Journal of Business research, 57(12), 1341-1351.
  • Coad, A., & Rao, R. (2008). Innovation and firm growth in high-tech sectors: A quantile regression approach. Research policy, 37(4), 633-648.
  • De Miguel, A., & Pindado, J. (2001). Determinants of capital structure: new evidence from Spanish panel data. Journal of corporate finance, 7(1), 77-99.
  • Deesomsak, R., Paudyal, K., & Pescetto, G. (2004). The determinants of capital structure: evidence from the Asia Pacific region. Journal of multinational financial management, 14(4-5), 387-405.
  • Fisman, R., & Svensson, J. (2007). Are corruption and taxation really harmful to growth? Firm level evidence. Journal of development economics, 83(1), 63-75.
  • Frank, M. Z., & Goyal, V. K. (2003). Testing the pecking order theory of capital structure. Journal of financial economics, 67(2), 217-248.
  • Frank, M. Z., & Goyal, V. K. (2009). Capital structure decisions: which factors are reliably important?. Financial management, 38(1), 1-37.
  • Freel, M. S., & Robson, P. J. (2004). Small firm innovation, growth and performance: Evidence from Scotland and Northern England. International Small Business Journal, 22(6), 561-575.
  • Goldstein, R., Ju, N., & Leland, H. (2001). An EBIT‐based model of dynamic capital structure. The Journal of Business, 74(4), 483-512.
  • Hackbarth, D., Miao, J., & Morellec, E. (2006). Capital structure, credit risk, and macroeconomic conditions. Journal of Financial Economics, 82(3), 519-550.
  • Korajczyk, R. A., & Levy, A. (2003). Capital structure choice: macroeconomic conditions and financial constraints. Journal of financial economics, 68(1), 75-109.
  • Michaelas, N., Chittenden, F., & Poutziouris, P. (1999). Financial policy and capital structure choice in UK SMEs: Empirical evidence from company panel data. Small business economics, 12(2), 113-130.
  • Modigliani, F., & Miller, M. H. (1958). The cost of capital, corporation finance and the theory of investment. The American economic review, 48(3), 261-297.
  • Modigliani, F., & Miller, M. H. (1963). Corporate income taxes and the cost of capital: a correction. The American economic review, 53(3), 433-443.
  • Myers, S. C. (2001). Capital structure. Journal of Economic perspectives, 15(2), 81-102.
  • Nichter, S., & Goldmark, L. (2009). Small firm growth in developing countries. World development, 37(9), 1453-1464.
  • Titman, S., & Wessels, R. (1988). The determinants of capital structure choice. The Journal of finance, 43(1), 1-19.
  • Ullah, B., & Wei, Z. (2017). Bank Financing and Firm Growth: Evidence from Transition Economies. Journal of Financial Research, 40(4), 507-534.
Toplam 20 adet kaynakça vardır.

Ayrıntılar

Birincil Dil Türkçe
Konular İşletme
Bölüm Derleme Makale
Yazarlar

Hakan Altın 0000-0002-0012-0016

Cemil Süslü 0000-0003-4164-1552

Yayımlanma Tarihi 30 Haziran 2018
Yayımlandığı Sayı Yıl 2018Cilt: 10 Sayı: 2

Kaynak Göster

APA Altın, H., & Süslü, C. (2018). Finansman Kaynakları ile Firma Büyümesi Arasındaki İlişki: BİST Turizm Firmaları Üzerine Bir Uygulama. Aksaray Üniversitesi İktisadi Ve İdari Bilimler Fakültesi Dergisi, 10(2), 1-8.
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