This study analyzes the success of growth opportunities measures in predicting the growth of Turkish companies. Panel data set of 282 firms whose stocks are traded in Borsa Istanbul (BIST) is used in the analysis. Market value/book value, Tobin’s Q, earnings/price and capital investment expenditures/total assets ratios are used as growth opportunities measures. Realized growth is measured with the percentage change in sales revenue, percentage change in total assets and change in earnings per share/total assets ratio for three years and for five years. As a result of the panel regression analysis, it is found that market value/book value ratio has a statistical positive effect on percentage change in sales and percentage change in total assets over five years. Tobin’s Q ratio has a positive relationship with change in sales for three years and five years, in addition to the change in total assets for five years. Earnings/price ratio has a negative effect on the rate of change in sales for five years and the rate of change in total assets for three years and for five years. Capital investment expenditures/total assets ratio does not have any significant relationship with the realized growth measures.
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