2008 Global Financial Crisis on Borsa Istanbul Impact on Traded Company Profits
DOI:
https://doi.org/10.5281/zenodo.10401008Keywords:
Crisis, Stock Market, Profitability, Leverage, DuPountAbstract
Purpose – The aim of this study is to determine the effects of the 2008 Global Financial Crisis on the profitability of companies traded in the BIST, by taking into account the profitability ratios of the indexes. In addition, the determinants of return on equity capital before and after the 2008 crisis were determined using the DuPount method.
Design/data/methodology – The study was carried out on the data of 257 companies traded in BIST. The data set consists of 11 years, including the years 2004-2014. Equity profitability and factors affecting profitability were determined using the DuPount method.
Findings – It was determined that the return on equity of the indices excluding the Trade Index was affected by the crisis in 2008, while the Electricity and Energy Index, Transportation Index and Construction Index were positively affected. Indices with higher return on equity after the crisis than before the crisis, on the other hand, consist of Electricity and Energy Index, Transportation Index, Construction Index, Food Index, Chemistry Index, Mining Index and Sports Index. It was determined that none of the remaining indices could catch up with the pre-crisis equity profitability figures after the crisis.
Originality/value – This study is one of the first and unique studies that deals with the effects of the 2008 Global Financial Crisis on the profitability of companies traded on the BIST on an index basis.
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