The Effect of Financial Risks of Companies Listed in the BIST Sustainability Index on Stock Prices

descriptionPublicationkeyboard_double_arrow_right Article 02 Jul 2022 Turkey Publisher:Pamukkale UniversityJournal:Pamukkale Üniversitesi İşletme Araştırmaları Dergisi, volume 9, pages 107-125 (eissn: 2757-7260,

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Authors: Samuray KARACA; Kemalettin ÇONKAR;

doi: 10.47097/piar.1114136

handle: 11499/54282

The Effect of Financial Risks of Companies Listed in the BIST Sustainability Index on Stock Prices

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Abstract

This study is aimed to investigate the impact of the financial risks of the enterprises in the sustainability index on the value of the stock. In line with this objective, financial risk values were calculated with the Altman Zskor model by using the financial statement data of the enterprises for the 2011-2020 periods. The impact of the financial risks of the enterprises in the sustainability index on the stock value was perused by panel data analysis in the study. As a result of econometric analysis, it was determined that the financial risk values of the enterprises affect the stock return rates negatively. In other words, as the financial risks of the enterprises decreased, the stock return rate increased.

Country

Turkey

Related Organizations

Pamukkale University
Turkey
Afyon Kocatepe University
Turkey

Keywords

Sustainability;Financial Risk;Panel Data Analysis;Altman Model, Finans, HF5001-6182, financial risk, Sürdürülebilirlik;Finansal Risk;Panel veri Analizi;Altman Modeli, sustainability, sürdürülebilirlik, altman model, panel veri analizi, finansal risk, altman modeli, Business, panel data analysis, Finance

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