Yabancı pay sahipliği oranı ve kârlılık oranı ilişkisi: Borsa İstanbul örneği

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Thesis Type: Postgraduate

Institution Of The Thesis: Anadolu University, LİSANSÜSTÜ EĞİTİM ENSTİTÜSÜ, İŞLETME ANABİLİM DALI, Turkey

Approval Date: 2024

Thesis Language: Turkish

Student: AHMET YUMUK

Supervisor: Aslı Afşar

Open Archive Collection: AVESIS Open Access Collection

Abstract:

The concept of foreign ownership covers any foreign private investment in a foreign country that gives control and ownership over a resource. Ownership here includes technology, capital, management and financial expertise, etc. In general, foreign ownership is considered to have a positive impact on firm performance, especially in underdeveloped and developing economies. Foreign ownership refers to the proportion of foreign investors in the ownership structure of the firm. It is stated that the relationship between foreign ownership and firm financial performance is positive. The examination of this situation within BIST firms constitutes the subject of this study. The study aims to examine the relationship between foreign ownership and return on assets (ROA), return on equity (ROE) and return on operations (FAVOK) of 15 firms operating in BIST sub-sectors. For this purpose, data for the period 2016-2022 are analyzed using panel data analysis techniques. In the study, horizontal cross-section dependence and homogeneity tests were conducted. Accordingly, the stationarity of the series is analyzed with Levin, Lin and Chu, Im, Pesaran and Shin, ADF-Fisher and PP-Fisher unit root tests. Then, the relationship between the variables is analyzed with the panel ARDL technique. According to the findings, there is a positive and significant relationship between foreign ownership and return on assets (ROA) and return on equity (ROE). However, there is no significant relationship between foreign ownership and operational profitability (FAVOK). Keywords: Foreign Ownership, ROA, ROE, FAVOK, Panel ARDL