Yıl 2017, Cilt: 1 Sayı : 3 Sayfalar 40 - 55 2017-09-30
Determination of the Variables Affecting the Price Earning Ratios of Deposit Banks in Turkey by Mars Method
Serhat YÜKSEL,İsmail CANÖZ,Zafer ADALI
31 261

Öz In this study, it is aimed to identify the factors influencing the price-earnings ratio of deposit banks in Turkey. In this context, quarterly cumulative data of 10 deposit banks traded in Istanbul Stock Exchange for the periods between 2002:4 and 2017:1 is analyzed by using MARS method. According to the analysis results, it is concluded that if the ROE of the banks is higher than 5.92%, it affects price-earning ratio positively. However, this effect will be negative when ROE exceeds 21.12%. This indicates that investors are willing to pay more for the stocks of the banks when their profitability is increasing. Besides, it is also identified that there is an adverse relationship between the market interest rate and NPL of the banks with the price-earnings ratio. In case of any raise in the interest rate and NPL of the banks, investors' expectation of the future profitability of the banks will be negative. As a result, it is understood that the investors are reluctant to pay more amounts to their bank shares. 

Anahtar Kelimeler

MARS, Banking, Price-Earning Ratio, MARS
Anderson, K., & Brooks, C. (2005). Decomposing The Price-Earnings Ratio. Journal Of Asset Management, 6(6), 456-469.
Birincil Dil
Konular Sosyal
Yayımlanma Tarihi 30 Eylül 2017
Bölüm Makaleler

Yayımlanma Tarihi : 30 Eylül 2017

Makalenin Yazarları
İsmail CANÖZ