运用面板数据分析和多准则决策技术研究营运资金管理对盈利能力的影响

IF 0.5 Q4 ECONOMICS
E. Korkmaz, Turgut Karabulut, M. Güner
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引用次数: 0

摘要

目的:本研究基于2012-2020年在伊斯坦布尔证券交易所(BIST)上市的旅游行业公司的年度财务报表数据,旨在通过不同的分析方法揭示和比较营运资金管理对资产收益率的影响。本研究旨在揭示包括在模型变量不是营运资金管理的一个元素的缺点。方法:以公司财务报表数据为基础,采用面板数据分析、层次分析法和模糊层次分析法揭示营运资金管理变量对资产收益率的影响。结果:通过分析发现,利用资产实现收益率的排名与AHP和FAHP的排名之间存在显著的关系,而面板数据分析得出的排名之间没有显著的关系。结论:在面板数据分析中,将模型中的一些变量作为营运资金管理变量,可能会导致对实际营运资金变量对资产收益率的影响的误解。在对AHP和FAHP方法得到的模型进行检验时,根据专家的意见,将资产周转率和财务杠杆率变量确定为对资产收益率影响最小的比率,作为营运资金管理的要素。
本文章由计算机程序翻译,如有差异,请以英文原文为准。
Investigation of the effect of working capital management on profitability by panel data analysis and multi-criteria decision making techniques
Purpose: The aim of this study is to reveal and compare the effect of working capital management on return on assets with different analysis methods, based on the annual financial statement data of companies in the tourism sector traded in Borsa Istanbul (BIST) in the period 2012-2020. This study aimed to reveal the drawbacks of including in the model variables that are not an element of working capital management. Methodology: Panel data analysis, the analytical hierarchy process and the fuzzy analytical hierarchy process were used to reveal the effect of working capital management variables on return on assets based on the financial statement data of the companies. Results: As a result of the analysis, a significant relationship was identified between the rankings made by using the realized return on assets ratios and the rankings obtained by AHP and FAHP, while no significant relationship was found between the rankings obtained by panel data analysis. Conclusion: Including some variables in the model as a working capital management variable in panel data analysis may cause misinterpretation of the effects of real working capital variables on return on assets. When the model that emerged according to the AHP and FAHP methods was examined, the asset turnover rate and financial leverage ratio variables were determined as the ratios with the lowest effect on return on assets, as the elements of working capital management in the weighting made according to the opinions of the experts.
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Ekonomski Vjesnik
Ekonomski Vjesnik ECONOMICS-
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