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YÜKSEK TEMETTÜ GETİRİSİ COVİD-19 ÇÖKÜŞÜ SIRASINDA FİRMA DEĞERİNİ KORUYABİLİR Mİ? TÜRK FİRMALARINDAN KANITLAR

Year 2021, Volume: 19 Issue: 2, 334 - 352, 30.06.2021

Ömer Faruk Tan , Hakan Cavlak , Yasin Cebeci , Necati Güneş

https://doi.org/10.11611/yead.915018

Abstract

Bu çalışmada, yüksek temettü getirisine sahip olmanın, COVID-19 kargaşası döneminde hisse senedi fiyatları üzerinde katalizör etkisi olup olmadığı araştırılmıştır. Borsa İstanbul'daki 164 imalatçı firma, son beş yıllık (2015-2019) ortalamalarına göre temettü getirisi yüksek ve düşük olan firmalar olarak sınıflandırılmıştır. Analiz sonuçları, yüksek temettü getirisi olan firmaların hisse senedi getirilerinin COVID-19 çöküşünden daha az etkilendiğini göstermektedir. Aynı şekilde, temettü ödemesi sıklığı yüksek olan firmalar, yapmayanlara göre daha az etkilenmektedir. Bu çalışma, yüksek temettü getirisi olan firmaların, COVID-19'un neden olduğu bu çöküşte yatırımcılar tarafından güvenli liman olarak görüldüğünü ortaya koymaktadır.

Keywords

COVID-19 Temettü Getirisi Borsa İstanbul Firma Değeri Günlük Vakalar Günlük Ölümler

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CAN HIGH DIVIDEND YIELD SUSTAIN FIRM VALUE DURING THE COVID-19 CRASH? EVIDENCE FROM TURKISH FIRMS

Year 2021, Volume: 19 Issue: 2, 334 - 352, 30.06.2021

Ömer Faruk Tan , Hakan Cavlak , Yasin Cebeci , Necati Güneş

https://doi.org/10.11611/yead.915018

Abstract

In this study, we want to investigate whether having a high dividend yield has a catalyst effect on stock prices during the COVID-19 turmoil period. 164 manufacturing firms in Borsa Istanbul are classified as firms with high and low dividend yield according to their last five-years’ (2015-2019) averages. The analysis results show that the stock returns of firms with high dividend yield are less impacted in this COVID-19 crash. Likewise, firms with a high frequency of dividend payouts are less affected than those who do not. This study reveals that firms with high dividend yield are regarded as safe havens by investors in this crash caused by COVID-19.

Keywords

COVID-19 Dividend Yield Borsa Istanbul Firm Value Daily Cases Daily Deaths

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There are 100 citations in total.

Details

Primary Language English
Subjects Finance
Journal Section Articles
Authors

Ömer Faruk Tan 0000-0002-8875-4696

Hakan Cavlak 0000-0002-5891-7722

Yasin Cebeci 0000-0002-0110-8625

Necati Güneş 0000-0002-2390-4868

Publication Date June 30, 2021
Published in Issue Year 2021 Volume: 19 Issue: 2

Cite

APA Tan, Ö. F., Cavlak, H., Cebeci, Y., Güneş, N. (2021). CAN HIGH DIVIDEND YIELD SUSTAIN FIRM VALUE DURING THE COVID-19 CRASH? EVIDENCE FROM TURKISH FIRMS. Journal of Management and Economics Research, 19(2), 334-352. https://doi.org/10.11611/yead.915018
AMA Tan ÖF, Cavlak H, Cebeci Y, Güneş N. CAN HIGH DIVIDEND YIELD SUSTAIN FIRM VALUE DURING THE COVID-19 CRASH? EVIDENCE FROM TURKISH FIRMS. Journal of Management and Economics Research. June 2021;19(2):334-352. doi:10.11611/yead.915018
Chicago Tan, Ömer Faruk, Hakan Cavlak, Yasin Cebeci, and Necati Güneş. “CAN HIGH DIVIDEND YIELD SUSTAIN FIRM VALUE DURING THE COVID-19 CRASH? EVIDENCE FROM TURKISH FIRMS”. Journal of Management and Economics Research 19, no. 2 (June 2021): 334-52. https://doi.org/10.11611/yead.915018.
EndNote Tan ÖF, Cavlak H, Cebeci Y, Güneş N (June 1, 2021) CAN HIGH DIVIDEND YIELD SUSTAIN FIRM VALUE DURING THE COVID-19 CRASH? EVIDENCE FROM TURKISH FIRMS. Journal of Management and Economics Research 19 2 334–352.
IEEE Ö. F. Tan, H. Cavlak, Y. Cebeci, and N. Güneş, “CAN HIGH DIVIDEND YIELD SUSTAIN FIRM VALUE DURING THE COVID-19 CRASH? EVIDENCE FROM TURKISH FIRMS”, Journal of Management and Economics Research, vol. 19, no. 2, pp. 334–352, 2021, doi: 10.11611/yead.915018.
ISNAD Tan, Ömer Faruk et al. “CAN HIGH DIVIDEND YIELD SUSTAIN FIRM VALUE DURING THE COVID-19 CRASH? EVIDENCE FROM TURKISH FIRMS”. Journal of Management and Economics Research 19/2 (June 2021), 334-352. https://doi.org/10.11611/yead.915018.
JAMA Tan ÖF, Cavlak H, Cebeci Y, Güneş N. CAN HIGH DIVIDEND YIELD SUSTAIN FIRM VALUE DURING THE COVID-19 CRASH? EVIDENCE FROM TURKISH FIRMS. Journal of Management and Economics Research. 2021;19:334–352.
MLA Tan, Ömer Faruk et al. “CAN HIGH DIVIDEND YIELD SUSTAIN FIRM VALUE DURING THE COVID-19 CRASH? EVIDENCE FROM TURKISH FIRMS”. Journal of Management and Economics Research, vol. 19, no. 2, 2021, pp. 334-52, doi:10.11611/yead.915018.
Vancouver Tan ÖF, Cavlak H, Cebeci Y, Güneş N. CAN HIGH DIVIDEND YIELD SUSTAIN FIRM VALUE DURING THE COVID-19 CRASH? EVIDENCE FROM TURKISH FIRMS. Journal of Management and Economics Research. 2021;19(2):334-52.