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Bu çalışmada Borsa İstanbul’da ihmal edilmiş firma etkisi anomalisinin geçerliliği panel regresyon analizi ile araştırılmıştır. Çalışma kapsamında 2015-2019 yılları arasındaki 20 çeyrek dönemde hisse senetlerini halka arz etmiş 330 firmanın verileri panel veri regresyon yöntemiyle analiz edilmiştir. Analiz sonucunda, aktif karlılık oranı ve kaldıraç oranının hisse senedi getirilerini anlamlı ve pozitif etkilediği bulunmuştur. Bunun yanında, asıl araştırma konusu olan ihmal edilmiş firma etkisinin de hisse senedi getirilerini anlamlı ve pozitif olarak etkilediği belirlenmiştir. Bu sonuçlar ışığında, ilgili dönem ve veri seti itibariyle Borsa İstanbul’da ihmal edilmiş firma etkisi anomalisinin geçerli olduğu sonucuna ulaşılmıştır.
In this study, the validity of an anomaly of company impact neglected in Borsa Istanbul was investigated by panel regression analysis. In the framework of the study, the data of 330 companies that made their shares public in the 20th quarter period between 2015-2019 were analyzed using the panel data regression method. The analysis found that the active profitability rate and the lifting rate significantly and positively affected the return on the stock. In addition, it has been found that the neglected company’s impact, which is the main subject of the research, also significantly and positively affects the return on stock. In light of these findings, the relevant period and data set have come to the conclusion that the company’s impact anomaly, which has been neglected in the Stock Exchange in Istanbul, is valid.
This study aims to research the validity of neglected firm effect anomaly in BİST (Istanbul Stock Exhange) by using panel regression analysis. In this study, the quarterly data of 330 firms included in BİST between 2015 and 2019 is analysed by using panal data regression method. As a result of the analysis, statistically significant and positive effects of return on asset ratio and leverage ratio on quarterly stock returns are found. Besides, as the main reseach topic, statistically significant and positive effect of neglected firm effect on quarterly stock returns is found. In the light of this result, neglected firm effect anomaly has been found to be valid for BİST within the period and the data set given.
Field : Sosyal, Beşeri ve İdari Bilimler
Journal Type : Uluslararası
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