WSEAS Transactions on Business and Economics
Print ISSN: 1109-9526, E-ISSN: 2224-2899
Volume 15, 2018
Determining the Impact of Financial Characteristics on Firm Profitability: An Empirical Analysis on Borsa Istanbul Energy Firms
Authors: ,
Abstract: In this study, the effect of financial ratios of liquidity, financial structure, productivity and profitability of the energy sector firms on the return on assets was examined. For this purpose, quarterly financial data (2008:Q1-2015:Q4) of the 10 Energy firms whose shares are quoted on BIST (Borsa İstanbul) have been used. For the empirical analysis of the data set, Panel Data Analysis was implemented. In the analysis, The Asset Turnover Ratio and Liquidity Ratio were found to be statistically significant and positive. Financial Leverage Ratio, Tangible Fixed Asset/Assets, and Long-Term Debt/Assets ratios were found to have a negative impact on the Return on Assets. However, in empirical analysis, it was determined that there was no significant relationship between Return on Asset with Equity Turnover Ratio and Net Working Capital Turnover ratios.
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Pages: 547-559
WSEAS Transactions on Business and Economics, ISSN / E-ISSN: 1109-9526 / 2224-2899, Volume 15, 2018, Art. #56