REKLAM HARCAMALARININ ŞİRKETİN PİYASA DEĞERİNE OLAN ETKİSİ

Finans literatürü incelendiğinde, şirketlerin piyasa değerini etkileyen faktörler üzerine çok sayıda çalışma vardır. Buna karşın, şirketlerin piyasa değeri ile şirketin reklam harcamaları arasındaki ilişkiyi açıklayan çalışmalar son derece sınırlıdır. Amacımız, literatürdeki bu sınırlı alana katkıda bulunmaktır. Araştırma kapsamında, İMKB Sınai Endeksine kayıtlı 142 şirket inlenmiştir. Uygulama aşamasında klasik en küçük kareler yöntemi (KEKK) kullanılmıştır. Elde edilen sonuçlar literatüre uygun olarak yorumlanmıştır.

Anahtar Kelimeler:

Şirketin piyasa değeri, reklam harcaması, İstanbul Menkul Kıymetler Borsası

The Effects of the Advertising Expenditure on Firm’s Market Value

When the finance literature is analyzed, it may be seen that there are a lot of studies about the factors which affect the firms’ market values. However, the studies explaining the relationship between the market value and efficiency level of the firms are limited. Our aim is to make contributions to this limited area. Within the research framework, 142 enterprises which are registered to the Istanbul Stock Exchange Industrial Index were analysed. During the application phase the Ordinary Least Squares method (OLS) was used. The acquired results were interpreted according to the literature.

Keywords:

Firm market value, advertising expenditure, Istanbul Stock Exchange,

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