Finansal Derinleşmenin Borsa İstanbul Teknoloji Sektöründe Yer Alan Firmaların Katma Değerine Etkisi: 2012-2020
The Impact on Value Added of Firms in Stock Market Istanbul Technology Sector of Financial Deepening : 2012-2020

Summary/Abstract: Purpose – The fundamental aim of businesses is to maximize the market value of the business. This research, it is investigated the impact on market value added, which is a value-based performance dimension approach with financial deepening, which measures the development of financial markets. The purpose of the research is to catch out the effect of the market value added of firms on the financial deepening in Turkey. Design/Methodology/Approach – The study covers firms in the Stock Market Istanbul Technology sector information Technologies firms and the years 2012-2020. The throughput set related to financial deepening used in the research was obtained than the Central Bank Electronic Throughput Distribution Framework. Fixed capital investments, foreign trade and the throughput used in the computation of the market value added were obtained from the financial statements of the firms. Data were observed at a quarterly frequency. As a method in the study were used ARDL bounds test, cointegration coefficients and error correction model. Findings – According to the findings of the study, it was determined statistically significant relationship between financial deepening and the added value of the technology sector. In this framework, it emerged a cointegrated relationship between the variables in the short and long term. While affect negatively the value added fixed capital investments (FDI) and openness (DA) in the short run, financial deepening (FD) affects positively. In the long run, openness (DA) and fixed capital investments (FDI) have a positive and significant effect on value added. According to the result of the error correction model, it has been determined that will be corrected in the long term in the next period the imbalances that will occur in the short term. All the operations related to the analysis were done with Eviews11. Discussions – The increase in the share in GDP of domestic loans(YIK) used in the study in gross domestic product(GDP) has a positive effect on the market value added. This study investigates the effect on IT companies belonging to the similar technology sector of financial deepening, the this effect examines also in the short and long term. In addition, revealing the financial deepening in the relevant period, it will make an important contribution to the relevant field examining the effect of this deepening on the sector companies with high added value creation capacity

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