How does leverage affect the value relevance? evidence from Turkey

Basit Öğe Kaydı
dc.authoridMelik Ertuğrul / 0000-0003-2068-2080en_US
dc.authorscopusidMelik Ertuğrul / 57201323895
dc.authorwosidMelik Ertuğrul / L-5129-2018
dc.contributor.authorErtuğrul, Melik
dc.date.accessioned2020-10-19T11:41:29Z
dc.date.available2020-10-19T11:41:29Z
dc.date.issued2020en_US
dc.departmentİstinye Üniversitesi, İktisadi, İdari ve Sosyal Bilimler Fakültesi, Ekonomi Bölümüen_US
dc.description.abstractHigh-levered firms have serious concerns related to avoiding covenant violations and meeting the needs of their creditors. Accounting information of those firms should be less value relevant for market participants. Based on a sample of Turkish listed firms over 2009–2018, we analyse whether the value relevance of accounting information is significantly lower for high-levered firms. For this purpose, we group observations with no net debt and divide the rest into quintiles based on leverage levels. We conclude that the value relevance of both earnings and book value of equity is lower for the high-levered quintile than the rest. Moreover, the value relevance of earnings is moderated more than the value relevance of book value of equity for the high-levered quintile. Last, book value of equity is more dominant in the valuation of the high-levered quintile than the valuation of the rest.en_US
dc.identifier.citationErtugrul, M. (2020). How does leverage affect the value relevance? Evidence from Turkey. Spanish Journal of Finance and Accounting/Revista Española de Financiación y Contabilidad, 1-22.en_US
dc.identifier.doi10.1080/02102412.2020.1786946en_US
dc.identifier.scopus2-s2.0-85092348878en_US
dc.identifier.scopusqualityN/Aen_US
dc.identifier.urihttps://doi.org/10.1080/02102412.2020.1786946
dc.identifier.urihttps://hdl.handle.net/20.500.12713/1143
dc.identifier.wosWOS:000578388200001en_US
dc.identifier.wosqualityQ4en_US
dc.indekslendigikaynakWeb of Scienceen_US
dc.indekslendigikaynakScopusen_US
dc.institutionauthorErtuğrul, Melik
dc.language.isoenen_US
dc.publisherRoutledgeen_US
dc.relation.ispartofRevista Espanola de Financiacion y Contabilidaden_US
dc.relation.publicationcategoryMakale - Uluslararası Hakemli Dergi - Kurum Öğretim Elemanıen_US
dc.rightsinfo:eu-repo/semantics/closedAccessen_US
dc.subjectAccounting Informationen_US
dc.subjectCapital Structureen_US
dc.subjectLeverageen_US
dc.subjectTurkeyen_US
dc.subjectValue Relevanceen_US
dc.titleHow does leverage affect the value relevance? evidence from Turkeyen_US
dc.typeArticleen_US

Dosyalar

Orijinal paket
Listeleniyor 1 - 1 / 1
Küçük Resim Yok
İsim:
a.pdf
Boyut:
9.98 MB
Biçim:
Adobe Portable Document Format
Açıklama:
Tam Metin / Full Text
İndir
Lisans paketi
Listeleniyor 1 - 1 / 1
Küçük Resim Yok
İsim:
license.txt
Boyut:
1.44 KB
Biçim:
Item-specific license agreed upon to submission
Açıklama:
İndir

Koleksiyon

Scopus İndeksli Yayınlar Koleksiyonu
Ekonomi Bölümü Makale Koleksiyonu
WoS İndeksli Yayınlar Koleksiyonu