Özet:

In this study, it was aimed to examine the effect of selected variables on firm value before COVID 19 and during the pandemic. For this purpose, the data of 144 manufacturing companies traded in Borsa Istanbul, which reported their financial statements ten times on a quarterly basis between October 2018 and March 2021, were used. The data were analyzed by multiple linear regression analysis. In the study, market value, market value / book value, value according to cost difference, firm value calculated with multipliers and Tobin Q ratio as dependent variables; growth rate, current ratio, firm size, leverage ratio, equity turnover rate, return on equity, dividend distribution policy, inflation and GDP ratio are used as independent variables. In the study, 5 different models were created. In the light of the findings, it has been found that the current ratio and the turnover rate of the equity capital have a positive effect on the firm value, while the return on equity and the leverage ratio have a negative effect on the firm value.