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The Leverage Degrees of Companies Traded in Istanbul Stock Exchange

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  • Turgut Ozkan

    () (Halic University)

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    Abstract

    The profitability of companies is related to the items of balance sheet and inco- me statement. The most important consideration for maximizing profit of companies is op- timization of these items composition. Undoubtedly, sales and financial costs constitute the most outstanding items in this composition. The historical performance of this two items which have a functional relationship to each other could be used to forming compa- nies’future profitability. In finance literature, the top of the tools using to measure com- panies performance is the leverage mechanism. Operational Leverage, Financial Levera- ge and Combined Leverage which is combined from Operational and Financial Leverage have an important function for measuring the financial potential of companies. In this ar- ticle, leverage degrees of trading companies at IMKB are calculated in details of firms, industries, and IMKB, and analysed in the basis of industries. As a result, we have tried to determine relationships among the leverage degrees, industrial tendencies and macro economic fluctuations, and finally we have tried to reach general conclusions.

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    Bibliographic Info

    Article provided by Anadolu University in its journal Anadolu University Journal of Social Sciences.

    Volume (Year): 5 (2005)
    Issue (Month): 1 (June)
    Pages: 237-256

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    Handle: RePEc:and:journl:v:5:y:2005:i:1:p:237-256

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    Related research

    Keywords: Finance Leverage; Operational Leverage; Ratio Analysis; Industrial Analysis.;

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