Target P/E ratio determinants in the Turkish Stock Market: Earning volatility effect

Autor:	Halil ARSLAN, Yuksel ILTAS, Temur KAYHAN
Jazyk:	angličtina
Rok vydání:	2017
Předmět:	PE earning volatility dividend yield working capital leverage Business HF5001-6182 Economic theory. Demography HB1-3840 Economics as a science HB71-74
Zdroj:	Theoretical and Applied Economics, Vol XXIV, Iss 4, Pp 65-74 (2017)
Druh dokumentu:	article
ISSN:	1841-8678 1844-0029
Popis:	This paper investigates that what are the determinants of target PE in the case of Turkish Stock Market. The general outputs: i) Projected dividend yield is the dominant factor on PE. ii) Boosted investments and growing top-line raise PE ratio. iii) PE ratios come down as companies’ financial leverage and working capital needs grow. iv) Although stabilizing foreign exchange risks and gross profit margins with the aid of hedge tools and product diversity of the companies decreases the acceleration of profitability, it eventually augments PE ratio. Data from Borsa İstanbul covering 2000-2014 term have been modeled by GMM.
Databáze:	Directory of Open Access Journals
Externí odkaz:	https://doaj.org/article/f861378d4ffe4bb8bfc86fc8f400542d Zobrazit plný text záznamu View record in DOAJ Plný text ve formátu PDF