AN EMPIRICAL INVESTIGATION ON THE USE OF DERIVATIVE INSTRUMENTS BY INDUSTRIAL FIRMS IN TURKEY

ÖZEK, Pelin

AN EMPIRICAL INVESTIGATION ON THE USE OF DERIVATIVE INSTRUMENTS BY INDUSTRIAL FIRMS IN TURKEY

Pelin ÖZEK (Boş)

Finansal Araştırmalar ve Çalışmalar Dergisi

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Yıl: 2016 Cilt: 8 Sayı: 14 Sayfa Aralığı: 173 - 187 Metin Dili: Türkçe İndeks Tarihi: 29-07-2022

AN EMPIRICAL INVESTIGATION ON THE USE OF DERIVATIVE INSTRUMENTS BY INDUSTRIAL FIRMS IN TURKEY

Öz:

Bu çalışmada, Türkiye'de finans sektörü dışında faaliyet gösteren firmaların türev araç kullanımı ile ilişkili faktörler analiz edilmektedir. Analizler Borsa İstanbul Sınai Endeksine (XUSIN) kayıtlı olan 115 firmanın 2009 ve 2014 yılları arasındaki verilerine dayalı olarak yapılmıştır. Genel olarak örneklemin yüzde 35'i tarafından türev araç kullanıldığı belirlenmiştir. Tek değişkenli istatistiksel testler ve lojistik regresyon analizinden elde edilen sonuçlar türev araç kullanımının kaldıraç ve firma büyüklüğü ile pozitif ilişkili olduğunu göstermektedir. Ayrıca, kâr volatilitesi ve net kâr marjı firmaların türev araç kullanımı ile negatif ilişkilidir. Bununla birlikte veriler, türev araç kullanımını firma değeri ile ilişkilendirmek için yeterli kanıt sağlamamıştır

Anahtar Kelime:

Konular: İşletme İktisat

TÜRKİYE’DE ENDÜSTRİYEL FİRMALARIN TÜREV ARAÇ KULLANIMINA YÖNELİK AMPİRİK BİR ARAŞTIRMA

Öz:

This study examines the factors related to the use of derivative instruments by non-financial firms in Turkey. The analysis is based on a sample of 115 firms listed on the Borsa İstanbul Industrial Index (XUSIN) between the years 2009 and 2014. Generally, it is found that derivative instruments are used by 35 percent of the sample. The results from univariate tests and logistic regression analysis show that the use of derivatives is positively associated with leverage and firm size. In addition, earnings volatility and net profit margin are negatively associated with the firm use of derivatives. However the data does not provide sufficient evidence linking the use of derivative instruments to the firm value

Anahtar Kelime:

Konular: İşletme İktisat

Belge Türü: Makale Makale Türü: Araştırma Makalesi Erişim Türü: Erişime Açık

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APA	ÖZEK P (2016). AN EMPIRICAL INVESTIGATION ON THE USE OF DERIVATIVE INSTRUMENTS BY INDUSTRIAL FIRMS IN TURKEY. , 173 - 187.
Chicago	ÖZEK Pelin AN EMPIRICAL INVESTIGATION ON THE USE OF DERIVATIVE INSTRUMENTS BY INDUSTRIAL FIRMS IN TURKEY. (2016): 173 - 187.
MLA	ÖZEK Pelin AN EMPIRICAL INVESTIGATION ON THE USE OF DERIVATIVE INSTRUMENTS BY INDUSTRIAL FIRMS IN TURKEY. , 2016, ss.173 - 187.
AMA	ÖZEK P AN EMPIRICAL INVESTIGATION ON THE USE OF DERIVATIVE INSTRUMENTS BY INDUSTRIAL FIRMS IN TURKEY. . 2016; 173 - 187.
Vancouver	ÖZEK P AN EMPIRICAL INVESTIGATION ON THE USE OF DERIVATIVE INSTRUMENTS BY INDUSTRIAL FIRMS IN TURKEY. . 2016; 173 - 187.
IEEE	ÖZEK P "AN EMPIRICAL INVESTIGATION ON THE USE OF DERIVATIVE INSTRUMENTS BY INDUSTRIAL FIRMS IN TURKEY." , ss.173 - 187, 2016.
ISNAD	ÖZEK, Pelin. "AN EMPIRICAL INVESTIGATION ON THE USE OF DERIVATIVE INSTRUMENTS BY INDUSTRIAL FIRMS IN TURKEY". (2016), 173-187.

APA	ÖZEK P (2016). AN EMPIRICAL INVESTIGATION ON THE USE OF DERIVATIVE INSTRUMENTS BY INDUSTRIAL FIRMS IN TURKEY. Finansal Araştırmalar ve Çalışmalar Dergisi, 8(14), 173 - 187.
Chicago	ÖZEK Pelin AN EMPIRICAL INVESTIGATION ON THE USE OF DERIVATIVE INSTRUMENTS BY INDUSTRIAL FIRMS IN TURKEY. Finansal Araştırmalar ve Çalışmalar Dergisi 8, no.14 (2016): 173 - 187.
MLA	ÖZEK Pelin AN EMPIRICAL INVESTIGATION ON THE USE OF DERIVATIVE INSTRUMENTS BY INDUSTRIAL FIRMS IN TURKEY. Finansal Araştırmalar ve Çalışmalar Dergisi, vol.8, no.14, 2016, ss.173 - 187.
AMA	ÖZEK P AN EMPIRICAL INVESTIGATION ON THE USE OF DERIVATIVE INSTRUMENTS BY INDUSTRIAL FIRMS IN TURKEY. Finansal Araştırmalar ve Çalışmalar Dergisi. 2016; 8(14): 173 - 187.
Vancouver	ÖZEK P AN EMPIRICAL INVESTIGATION ON THE USE OF DERIVATIVE INSTRUMENTS BY INDUSTRIAL FIRMS IN TURKEY. Finansal Araştırmalar ve Çalışmalar Dergisi. 2016; 8(14): 173 - 187.
IEEE	ÖZEK P "AN EMPIRICAL INVESTIGATION ON THE USE OF DERIVATIVE INSTRUMENTS BY INDUSTRIAL FIRMS IN TURKEY." Finansal Araştırmalar ve Çalışmalar Dergisi, 8, ss.173 - 187, 2016.
ISNAD	ÖZEK, Pelin. "AN EMPIRICAL INVESTIGATION ON THE USE OF DERIVATIVE INSTRUMENTS BY INDUSTRIAL FIRMS IN TURKEY". Finansal Araştırmalar ve Çalışmalar Dergisi 8/14 (2016), 173-187.