Ekonomik Katma Değer (EVA) ile İşletme Sermayesi Etkinliği Arasındaki İlişki: 2008 Küresel Finansal Kriz Dönemine İlişkin Bulgular

Year 2019, Issue: 112, 95 - 118, 29.10.2019

Ali İhsan Akgün

https://doi.org/10.33203/mfy.491229

Cited By: 2

Abstract

Literatürde işletme performansının değerlendirilmesinde kullanılan Ekonomik Katma Değerin (EVA) ortaya çıkmasından bu yana, kurumsal yapının en belirgin ölçütü haline gelmiştir. EVA, ekonomik katma değer anlamına gelir ve sermaye maliyetinin getirdiği getirinin yatırım yapılan sermayeyi aşması olarak tanımlanmaktadır. Bu çalışmada, Borsa İstanbul-BİST 100’de faaliyet gösteren işletmelerin 2003-2012 yılları arasındaki EVA'larının işletme sermayesi etkinliğinde kullanılan nakit dönüşüm döngüsü ve unsurlarına ilişkin oranlar arasındaki ilişki incelenmiştir. Bu çalışmanın amacı, EVA'nın benimsenmesinin işletme sermayesi etkinliği arasındaki ilişkiyi araştırmaktır. Araştırmanın bulgularına göre, EVA ile işletme sermayesinin etkinliğine ilişkin unsurlara ait rasyolar arasında anlamlı ilişki olduğu sonucuna varılmıştır.

Keywords

Ekonomik Katmadeğer, İşletme Sermayesi Etkinliği, Performans Ölçüsü

Relationship Between Economic Value Added (EVA) and Efficiency of Working Capital: Evidence from 2008 Global Financial Crisis Period

Abstract

Since the advent of Economic Added Value (EVA) in the literature used evaluation of business performance, it has become the most
prominent measure of corporate structure. EVA is defined as stands for economic added value and the excess of the cost of capital brought by
the invested capital. These study was examined as an examination of the relationship between the EVA and its components ratios and ratio of the
cash conversion cycle in the operating on listed firms in İstanbul Stock Exhance-BIST 100 companies from 2003 to 2012. The purpose of this
study is to investigate the relationship between EVA and working capital efficiency during the global financial crisis. According to the research
findings that it is concluded that there is a significant relationship between EVA and ratios of compenents of working capital efficiency.

Keywords

Economic Value Added, Efficiency of Working Capital, Performance Measurement, Global Financial Crisis

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