The Profitability Impact on Market Value Added of Tourism Corporations: A Study on Turkish Tourism Index

Authors : Seda Süer, Kaan Kasaroğlu, Halil Karatekin

Pages : 351-367

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Publication Date : 2024-12-26

Article Type : Research Paper

Abstract :The present study purposed to explore the impact of profitability metrics on the market value added (MVA) of tourism corporations trading in Borsa Istanbul (BIST) in Turkey. In this context, secondary data were utilized to compute profitability metrics and the market value added of seven corporations represented on the BIST Index of Tourism (XTRZM) for the years 2012-2022. The impact of ROA, ROE, NPM, and GPM values on MVA values of the tourism corporations was dissected through the panel data regression analysis method referred to as the pooled OLS regression model with Driscoll-Kraay standard errors approach. In conclusion, it was determined that these variables as a whole demonstrated a significant impact on the MVA values of tourism corporations.
Keywords : Türk Turizm İşletmeleri, Piyasa Katma Değeri, Kârlılık, Panel Veri Regresyon Analizi