Yıl: 2021 Cilt: 0 Sayı: 60 Sayfa Aralığı: 1 - 23 Metin Dili: Türkçe DOI: 10.18070/erciyesiibd.866967 İndeks Tarihi: 29-07-2022

DÜŞÜK MALİYETLİ HAVAYOLU İŞLETMELERİNDE HİSSE SENEDİ FİYATINI ETKİLEYEN OPERASYONEL ORANLARIN ANALİZİ

Öz:
Hisse senedi fiyatının belirlenmesinde, arz-talep etkisiyle birlikte, ülkenin ekonomik durumu, gelecek beklentileri ve işletmelerin performansı gibi faktörler oldukça etkilidir. Bu kapsamda, havayolu işletmelerine ait operasyonel göstergelerin hisse senedi fiyatı ile ilişkilerinin ortaya konulması hedeflenmektedir. Uygulamada 6 düşük maliyetli havayollarına ait 2005-2017 yıllarını kapsayan yıllık operasyonel veriler, panel veri analizi yöntemiyle analiz edilmiş olup, hisse senedi fiyatını belirleyen operasyonel (RPK, CASK, LF ve OKZ) faktörler tespit edilmiştir. Panel veri analizi sonucuna göre, ücretli yolcu km (RPK) değişkeninin hisse senedi fiyatı üzerinde %1 anlam düzeyinde pozitif bir etkiye sahip olduğu görülmektedir. Arz edilen koltuk başına birim maliyet (CASK) oranı değişkeninin hisse senedi fiyatı üzerinde %1 anlam düzeyinde negatif bir etkiye sahip olduğu tespit edilmiştir. Bulgulardan elde edilen sonuca göre, havayolu işletmeleri hisse senedi değerini arttırmak için operasyonel gelir ve talebi arttırmalıdır. Gelirlerin artışıyla birlikte, birim maliyetlerin azalması teori ile uyumlu olarak havayollarının kârlılığını ve hisse senedi değerini arttırmaktadır.
Anahtar Kelime: Havayolları Panel Veri Analizi Hisse Senedi Fiyatı

ANALYSIS OF OPERATIONAL RATIOS AFFECTING STOCK PRICE IN LOW COST AIRLINE BUSINESSES

Öz:
In the determination of the stock price, factors such as the economic situation of the country, future expectations and the performance of the enterprises are quite effective together with the supply-demand effect. In this context, it is aimed to reveal the relations between the operational indicators of airline companies and the stock price. In practice, the annual operational data of 6 lowcost airlines covering the years 2005-2017 were analyzed using panel data analysis method, and operational (RPK, CASK, LF and OKZ) factors that determine the stock price were determined. According to the panel data analysis result, it is seen that the wage passenger km (RPK) variable has a positive effect on the stock price at the 1% significance level. It has been determined that the unit cost per seat (CASK) ratio variable has a negative effect on the stock price at the level of 1%. The conclusion from the findings is that airlines should increase operational income and demand in order to increase stock value. With the increase in revenues, the decrease in unit costs increases the profitability and stock value of airlines, in line with the theory.
Anahtar Kelime:

Belge Türü: Makale Makale Türü: Araştırma Makalesi Erişim Türü: Erişime Açık
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APA ALICI A, Sevil G (2021). DÜŞÜK MALİYETLİ HAVAYOLU İŞLETMELERİNDE HİSSE SENEDİ FİYATINI ETKİLEYEN OPERASYONEL ORANLARIN ANALİZİ. , 1 - 23. 10.18070/erciyesiibd.866967
Chicago ALICI ABDULKADIR,Sevil Guven DÜŞÜK MALİYETLİ HAVAYOLU İŞLETMELERİNDE HİSSE SENEDİ FİYATINI ETKİLEYEN OPERASYONEL ORANLARIN ANALİZİ. (2021): 1 - 23. 10.18070/erciyesiibd.866967
MLA ALICI ABDULKADIR,Sevil Guven DÜŞÜK MALİYETLİ HAVAYOLU İŞLETMELERİNDE HİSSE SENEDİ FİYATINI ETKİLEYEN OPERASYONEL ORANLARIN ANALİZİ. , 2021, ss.1 - 23. 10.18070/erciyesiibd.866967
AMA ALICI A,Sevil G DÜŞÜK MALİYETLİ HAVAYOLU İŞLETMELERİNDE HİSSE SENEDİ FİYATINI ETKİLEYEN OPERASYONEL ORANLARIN ANALİZİ. . 2021; 1 - 23. 10.18070/erciyesiibd.866967
Vancouver ALICI A,Sevil G DÜŞÜK MALİYETLİ HAVAYOLU İŞLETMELERİNDE HİSSE SENEDİ FİYATINI ETKİLEYEN OPERASYONEL ORANLARIN ANALİZİ. . 2021; 1 - 23. 10.18070/erciyesiibd.866967
IEEE ALICI A,Sevil G "DÜŞÜK MALİYETLİ HAVAYOLU İŞLETMELERİNDE HİSSE SENEDİ FİYATINI ETKİLEYEN OPERASYONEL ORANLARIN ANALİZİ." , ss.1 - 23, 2021. 10.18070/erciyesiibd.866967
ISNAD ALICI, ABDULKADIR - Sevil, Guven. "DÜŞÜK MALİYETLİ HAVAYOLU İŞLETMELERİNDE HİSSE SENEDİ FİYATINI ETKİLEYEN OPERASYONEL ORANLARIN ANALİZİ". (2021), 1-23. https://doi.org/10.18070/erciyesiibd.866967
APA ALICI A, Sevil G (2021). DÜŞÜK MALİYETLİ HAVAYOLU İŞLETMELERİNDE HİSSE SENEDİ FİYATINI ETKİLEYEN OPERASYONEL ORANLARIN ANALİZİ. Erciyes Üniversitesi İktisadi ve İdari Bilimler Fakültesi Dergisi, 0(60), 1 - 23. 10.18070/erciyesiibd.866967
Chicago ALICI ABDULKADIR,Sevil Guven DÜŞÜK MALİYETLİ HAVAYOLU İŞLETMELERİNDE HİSSE SENEDİ FİYATINI ETKİLEYEN OPERASYONEL ORANLARIN ANALİZİ. Erciyes Üniversitesi İktisadi ve İdari Bilimler Fakültesi Dergisi 0, no.60 (2021): 1 - 23. 10.18070/erciyesiibd.866967
MLA ALICI ABDULKADIR,Sevil Guven DÜŞÜK MALİYETLİ HAVAYOLU İŞLETMELERİNDE HİSSE SENEDİ FİYATINI ETKİLEYEN OPERASYONEL ORANLARIN ANALİZİ. Erciyes Üniversitesi İktisadi ve İdari Bilimler Fakültesi Dergisi, vol.0, no.60, 2021, ss.1 - 23. 10.18070/erciyesiibd.866967
AMA ALICI A,Sevil G DÜŞÜK MALİYETLİ HAVAYOLU İŞLETMELERİNDE HİSSE SENEDİ FİYATINI ETKİLEYEN OPERASYONEL ORANLARIN ANALİZİ. Erciyes Üniversitesi İktisadi ve İdari Bilimler Fakültesi Dergisi. 2021; 0(60): 1 - 23. 10.18070/erciyesiibd.866967
Vancouver ALICI A,Sevil G DÜŞÜK MALİYETLİ HAVAYOLU İŞLETMELERİNDE HİSSE SENEDİ FİYATINI ETKİLEYEN OPERASYONEL ORANLARIN ANALİZİ. Erciyes Üniversitesi İktisadi ve İdari Bilimler Fakültesi Dergisi. 2021; 0(60): 1 - 23. 10.18070/erciyesiibd.866967
IEEE ALICI A,Sevil G "DÜŞÜK MALİYETLİ HAVAYOLU İŞLETMELERİNDE HİSSE SENEDİ FİYATINI ETKİLEYEN OPERASYONEL ORANLARIN ANALİZİ." Erciyes Üniversitesi İktisadi ve İdari Bilimler Fakültesi Dergisi, 0, ss.1 - 23, 2021. 10.18070/erciyesiibd.866967
ISNAD ALICI, ABDULKADIR - Sevil, Guven. "DÜŞÜK MALİYETLİ HAVAYOLU İŞLETMELERİNDE HİSSE SENEDİ FİYATINI ETKİLEYEN OPERASYONEL ORANLARIN ANALİZİ". Erciyes Üniversitesi İktisadi ve İdari Bilimler Fakültesi Dergisi 60 (2021), 1-23. https://doi.org/10.18070/erciyesiibd.866967