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- Title
FİNANSAL RİSKLERİN FİRMA DEĞERİ ÜZERİNE ETKİLERİ: BORSA İSTANBUL GIDA, İÇECEK VE TÜTÜN SEKTÖRÜNDE BİR UYGULAMA.
- Authors
ÖZTÜRK, Mutlu Başaran; ÇELİK, Mehmet Sinan; DAŞTAN, Derya
- Abstract
In this study, the relationship between firm value and financial risks was analyzed. Maximizing the value of the firm emerges as the goal of companies today. Financial risks have a negative effect on firm value. Companies whose aim is to maximize firm value are to reduce the impact of financial risks that adversely affect profitability and competitiveness. Well-conducted financial risks will contribute to the firm. Firms need to accurately identify and comprehensively examine the financial risks of the economy and sectors they are in and take the necessary precautions. It is aimed to contribute to the sector and the literature by analyzing the food, beverage and tobacco sector in the Borsa Istanbul manufacturing industry sector, where both mechanization and manpower are intense, financial supply and demand are high. The data of 23 companies in this sector covering the period of 2010-2020 were analyzed by panel data analysis method. Two models were determined in order to see the effects of financial risks on firm value. In these models, Tobin Q and Market value/Ledger value are used to represent firm value. We use credit, currency, liquidity, interest and capital risk as risk factors. In the Tobin Q model, it was determined that while exchange rate risk and liquidity risk had a significant effect on firm value, liquidity risk was negative and currency risk was positive. In the market value/book value model, on the other hand, credit and exchange rate risk has a significant effect, and it has been determined that the exchange rate risk is negative.
- Publication
Omer Halisdemir Universitesi Iktisadi ve Idari Bilimler Fakültesi Dergisi, 2022, Vol 15, Issue 2, p419
- ISSN
2564-6931
- Publication type
Article
- DOI
10.25287/ohuiibf.1075437