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Sahiplik Yogunlasmasinin Temettu Dagitim Kararlarina Etkisi: Borsa Istanbul’da Bir Uygulama

Author

Listed:
  • Ersan ERSOY

    (Nevsehir Haci Bektas Veli Universitesi)

  • Emin Huseyin CETENAK

    (Nevsehir Haci Bektas Veli Universitesi)

Abstract

Bu calismada sahiplik yogunlasmasinin temettu dagitim kararlari uzerine etkisi arastirilmistir. Rassal Etkili Tobit ve Sistem Genellestirilmis Momentler Metodunun kullanildigi calismada, Borsa Istanbul’a kote 116 sanayi sirketinin 2004- 2009 donemi verilerinden faydalanilmistir. Elde edilen bulgular, sahiplik yogunlasmasinin temettu verimini pozitif yonde etkiledigini gostermektedir. Ayrica firmalarin karlilik orani, borclanma duzeyi, yatirim harcamalari ve Piyasa Degeri/Defter Degeri oraninin temettu dagitim kararlari uzerinde onemli bir etkiye sahip oldugu tespit edilmistir. Sadece kar dagitan firmalar goz onunde bulunduruldugunda, yogunlasma duzeyini temsil eden tum kukla degiskenler ile karlilik, piyasa degeri ve yatirim degiskenlerinin firmalarin kar dagitim oranlarini belirledigi gorulmektedir. Kar dagitan firmalardan olusan orneklem, dusuk ve yuksek hizda buyuyen firmalar seklinde iki gruba ayrildiginda, dusuk hizda buyuyen firmalarin temettu dagitim kararlarinda sahiplik yogunlasmasinin herhangi bir etkisinin olmadigi gorulmustur. Hizli buyuyen firmalarda ise temettu dagitim kararlarinin sahiplik yogunlasmasi, karlilik, piyasa degeri ve yatirim harcamalari tarafindan belirlendigi ortaya konulmustur.

Suggested Citation

  • Ersan ERSOY & Emin Huseyin CETENAK, 2015. "Sahiplik Yogunlasmasinin Temettu Dagitim Kararlarina Etkisi: Borsa Istanbul’da Bir Uygulama," Ege Academic Review, Ege University Faculty of Economics and Administrative Sciences, vol. 15(4), pages 509-521.
  • Handle: RePEc:ege:journl:v:15:y:2015:i:4:p:509-521
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