Examination of the Relationship between Stock Management and Profitability in Businesses: An Application on Borsa Istanbul Manufacturing Companies

Yıl 2022, Cilt: 7 Sayı: 4, 839 - 854, 31.12.2022

Ayşegül Ertuğrul Ayrancı , Gizem Arı

https://doi.org/10.30784/epfad.1145818

Öz

This study aims to investigate whether there is a significant relationship between inventory management and the profitability of enterprises operating in the manufacturing sector. The primary purpose of businesses is to maximize firm value. For this purpose, they want to determine the most accurate method to increase profitability by using their assets efficiently. The practical and efficient use of asset stocks with the least liquidity among current assets is thought to affect their profitability positively. The financial ratios of companies in the manufacturing sector traded on the BIST between 2019-2021 have been taken as data, and multiple regression analysis is used as the analysis method. The findings show a significant negative relationship between the stock/current assets ratio and profitability for all three years. A positive relationship is found with the 2019 net sales growth rate and a negative relationship with stock holding time. A positive and significant relationship is found between profitability and net sales rate for 2020. In summary, it can be said that businesses can increase their profitability by reducing their stocks.

Anahtar Kelimeler

Financial Performance, Stock Management, Regression Analysis

İşletmelerde Stok Yönetimi ile Kârlılık İlişkisinin İncelenmesi: BIST İmalat Şirketleri Üzerine Bir Uygulama

Öz

Bu çalışmanın amacı imalat sektöründe faaliyet gösteren işletmelerin stok yönetimi ile karlılıkları arasında anlamlı bir ilişki olup olmadığının araştırılmasıdır. İşletmelerin temel amacı firma değerini maksimize etmektir. Bu hedefler doğrultusunda varlıklarını verimli şekilde kullanmak ve böylece karlılıklarını artırmak için en doğru yöntemi belirlemek isterler. Dönen varlıklar arasında en az likiditeye sahip olan stokların etkin ve verimli kullanımının firma karlılığı üzerinde olumlu yönde etkisi olduğu düşünülmektedir. BİST'te işlem gören imalat sektöründe faaliyet gösteren şirketlerin 2019-2021 yılları arasındaki finansal oranları veri olarak alınmış ve analiz yöntemi olarak çoklu regresyon analizi kullanılmıştır. Elde edilen bulgularda, stok/dönen varlıklar oranı ile karlılık arasında her üç yıl için anlamlı bir negatif ilişki bulunurken, 2019 net satış büyüme oranı ile pozitif, stokta bekleme süresi ile negatif bir ilişki bulunmuştur. 2020 yılı için karlılık ile net satış oranı arasında pozitif ve anlamlı bir ilişki bulunmuştur. Özetle işletmelerin stoklarını azaltarak karlılıklarını artırabilecekleri söylenebilir.

Anahtar Kelimeler

Finansal Performans, Stok Yönetimi, Regresyon Analizi

Kaynakça

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