KOBİ’LERDE ENTELEKTÜEL SERMAYENİN FİRMA PERFORMANSI ÜZERİNE ETKİLERİ

Bu çalışmanın temel amacı, İMKB’ye kayıtlı olan KOBİ’lerin entelektüel sermayelerinin firma performanslarına etkisini araştırmaktır. 2008-2010 yılları arasında İMKB’ye kayıtlı olarak faaliyet gösteren AB kriterlerine göre KOBİ niteliği taşıyan firmaların verileri kullanılmıştır. Bu firmaların raporları bağımsız denetime tabi olduğu için araştırmanın sağlığı açısından güvenilir bulunmuştur. Çalışmada, Ante Pulic tarafından geliştirilen entelektüel sermaye katsayısı (VAIC) yöntemi kullanılmıştır. Firma performans ölçümü için; firma piyasa değeri (MB), verimlilik ölçüsü olarak varlık devir hızı (ATO), kârlılık ölçüleri olarak varlık kârlılığı (ROA) ve öz sermaye kârlılığı (ROE) kabul edilmiştir. İstatistiksel metotolarak çoklu regresyon ve korelasyon kullanılmıştır. Çalışmamızda, KOBİ’lerde VAIC ve bileşenlerinin, performans göstergeleri olan piyasa değeri ve Kârlılık üzerinde önemli etkileri görülmüştür

Anahtar Kelimeler:

Entelektüel Sermaye, KOBİ, Entelektüel Sermaye katsayısı(VAİC), İMKB

IMPACT OF INTELLECTUAL CAPITAL ON BUSINESS PERFORMANCE OF SME’S

The purpose of the paper is to obtain measure of the intellectual capital (IC) performance of SMEs which are quoted firms on the Istanbul Stock Exchange Market (ISE) in Turkey for the period 2008-2010 and test the effect of the intellectual capital on performance of SMEs. Data required for calculating intellectual capital efficiencies were obtained from the ISE according to SME’s definiton of European Union for the period 2008-2010. The authors measured the intellectual capital performance of firms using the

Keywords:

İntellectual capital, sme, value added of ıntellectual coefficiency (VAIC), Istanbul stock exchange market (ISE),

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