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Stock Return Dynamics in Logistics Companies: Evidence From Panel Data

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  • Mukadder Horasan

    (Atatürk University)

Abstract

The study examines the factors affecting the stock returns, including dividends, of ten logistics companies traded on the Istanbul Stock Exchange between 2012 and 2022 using panel data analysis method, and the financial performance index, the logistics service quality index, and the BIST-100 return variables. The findings indicate that the coefficients for financial performance (2.652; p=0.018) and market return (0.086; p<0.001) are positive and significant, while the coefficient for logistics service quality is insignificant. The study concludes that balance sheet indicators and market conditions are decisive in pricing, while operational quality indicators are ineffective.

Suggested Citation

  • Mukadder Horasan, 2026. "Stock Return Dynamics in Logistics Companies: Evidence From Panel Data," Journal of Finance Letters (Maliye ve Finans Yazıları), Maliye ve Finans Yazıları Yayıncılık Ltd. Şti., vol. 41(125), pages 243-261, April.
    • Handle: RePEc:acc:malfin:v:41:y:2026:i:125:p:243-261
    DOI: https://doi.org/10.33203/mfy.1747519
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    JEL classification:

    • G1 - Financial Economics - - General Financial Markets
    • G12 - Financial Economics - - General Financial Markets - - - Asset Pricing; Trading Volume; Bond Interest Rates
    • G13 - Financial Economics - - General Financial Markets - - - Contingent Pricing; Futures Pricing

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