73rd International Atlantic Economic Conference

March 28 - 31, 2012 | Istanbul, Turkey

Factors affecting the relationship between capital structure and stock return

Saturday, 31 March 2012: 9:30 AM
Nevin Yoruk, Prof.Dr. , Business Administration, University of Turkish Aeronautical Association , Ankara, Turkey
Ismail Tuna, Lecturer , Vocational High Scholl, Gaziosmanpasa University, Tokat, Turkey
Mahmut Hekim, Ass.Prof. , Vocational High Scholl, Gaziosmanpasa University, Tokat, Turkey
S.Serdar Karaca, Ass.Prof. , Faculty of Economics and administrative Sciences, Gaziosmanpasa University, Tokat, Turkey
To date, the financial success or failures of companies thought to be effective in many studies have been conducted to determine the factors that affect the capital structure.

In this study, the factors affecting the capital structures of companies with the need for examining the relationship between stock returns of companies and investors wishing to invest in financial instruments in predicting the possibility of finding and assessment options that could achieve the intended results. For this purpose, the ISE-100 index of industrial companies within the capital structure of the balance sheet and income statement items related to the financial ratios obtained from the relationship between the rates of return on equity ANFIS (Adaptive Neuro-Fuzzy Inference System) is explained by examining the method.

ISE 100 index from 2003-2007 in the industrial companies operating in the balance sheet and income statement bulunarak explained the 40 units the company has been involved in research. These companies, 14 input variables and 1 output variable was the subject of research. Return on Equity Ratio as a result of all tests made ​​to estimate using the ANFIS model, were significant enough to use 4 input variable.