Özet:

There are many macro and micro factors that influence stock prices. Some of these factors influence investors’ decisions and change the stock price. One of the key elements that shape investors’ investment decisions in this direction is the financial reports of companies. The purpose of this study is to identify the impact of the accounting profits obtained using the profitability criteria found through ratioes from the financial reports of companies on the stock price. For this purpose, data were obtained from the financial statements and stock prices of companies constantly listed in the Borsa Istanbul 100 Index between 2009 and 2017. The data obtained from companies was analyzed through panel data analysis, regression analysis and Granger causality test.  The analysis found that the accounting profit affected the stock prices. It is understood that the active profit, which represents the accounting profit in literature, has a positive impact on the stock price. On the other hand, the net profit margin has also appeared as another variable that affects the stock price in a positive direction. The results of the study were in line with literature and expectations.

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