Ar-Ge Harcamalarinin Fi̇nansal Performansa Yansimasi: Havacilik Sektörü Örneği̇

Abstract

The aim of this study is to investigate the affect of R&D spending in the Turkish aviation sector on the financial performance of the sector. Three research models were established in the study covering the 2008-2021 period and analyzing annual sector data. The models use dependent variables; return on assets (ROA), return on equity (ROE) and return on sales (ROS), and independent variable; R&D intensity and control variables; financial leverage ratio, liquidity ratio and sector size. 14-year data of the aviation industry were analyzed with multiple linear regression analysis. As a result of the analysis, the R&D spending in the aviation sector had a statistically significant and positive affect on the financial performance of the sector. On the other hand, financial leverage ratio which were the control variables in the model, had a negative affect on the ROS of the aviation sector, while the liquidity ratio and the size of the sector had a positive affect on the financial performance.

Exploring the Relationship between R&D Investment and Business Performance—An Empirical Analysis of Chinese ICT SMEs

“…Turning to EU countries, Nunes [31] and Tilică [23] also confirm the existence of this positive link. When analyzing Turkish companies, Ergun [24] also affirmed the role of R&D investment in promoting corporate profitability. However, the conclusion is refuted by other studies on Chinese SMEs.…”

“…He proposed that one dollar of R&D spending increases the company's revenue by 22%. In the research on the European Union's enterprises, the positive impact of R&D investment on corporate performance is also significant [20][21][22][23][24]. Kılıç [25] also found a significant positive correlation between them in a study of IT companies in Istanbul.…”

“…Thus, multiple regression is applied to determine the relationship between firm R&D investment and performance in this research. After reading the previous literature [24], the most basic multiple regression model is:…”