Scopus
🔓 Açık Erişim YÖKSİS Eşleşti
The effect of marketing and R&D expenditures on firm profitability and stock return: Evidence from BIST
International Journal of Optimization and Control: Theories and Applications · Ocak 2023
YÖKSİS Kayıtları
The effect of marketing and R&D expenditures on firm profitability and stock return: Evidence from BIST
International Journal of Optimization and Control: Theories and Applications · 2023 Scopus
DOÇENT GAMZE ŞEKEROĞLU →
Makale Bilgileri
DergiInternational Journal of Optimization and Control: Theories and Applications
Yayın TarihiOcak 2023
Cilt / Sayfa13 · 35-45
Scopus ID2-s2.0-85148586440
Erişim🔓 Açık Erişim
Özet
This study aims to determine the effects of R&D and marketing expenditures of companies that force marketing and finance to act together on stock return, return on assets, and return on equity. To this end, the quarterly frequency data of nine companies that were continuously traded in the BIST Technology Index between March 2009 and December 2020 were examined with panel-data analysis. In line with the purpose of the research, analyzes were carried out in three different models. First of all, we determined which tests should be performed on the models based on the cross-sectional dependence, homogeneity/heterogeneity, and panel unit root test results obtained for the established models. The results of panel least squares test carried out to determine the effect of R&D and marketing expenditures on stock return showed that the effect of R&D expenditures on stock return was not statistically significant while marketing expenditures had a positive and significant effect on stock return. Analyzes should be continued with cointegration tests according to the characteristics of the two models established to determine the effect of R&D and marketing expenditures on return on assets and return on equity. The results implied a positive and significant relationship between R&D expenditures and return on both assets and equity. While no statistically significant relationship was found between marketing expenditures and return on assets, there was a positive and significant relationship between marketing expenditures and return on equity.
Yazarlar (2)
1
Gamze Śekeroglu
2
Kazım Karaboğa
ORCID: 0000-0002-4365-1714
Anahtar Kelimeler
Marketing expenditures
Panel-data analysis
Profitability
R&D expenditures
Stock return
Kurumlar
Necmettin Erbakan Üniversitesi
Meram Turkey
Selçuk Üniversitesi
Selçuklu Turkey