Foreign Exchange Risk and Financial Performance: The Case of Turkey

Parlak, Deniz; İlhan, Hüseyin

doi:10.18825/irem.37893

Cited by 9 publications

(5 citation statements)

References 8 publications

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“…The decisions of individual investors, to buy, sell or keep a specific firm's stock, are usually influenced by the changes in exchange rates. Exchange rate is defined as "the changing level of the price of one nation's currency when compared with another nation's currency" (Parlak and Ilhan, 2016). Changes in exchange rate influence the financial performance of domestic (local) companies involved in importing and exporting activities as well as multinational companies (Hyde, 2007).…”

Section: ‫ال‬ ‫مجلة‬ ‫المحاسبية‬ ‫بحوث‬ ‫اﻻ‬ ‫العدد‬ ‫مارس‬ ‫ول‬ ٣ ٢٠٢mentioning

confidence: 99%

The Use of Financial Statements’ Information and Other Information in Investors’ Decisions

Ganna¹

2023

مجلة البحوث المحاسبیة

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This paper aims to study the ability of financial statements information and other information to predict stock returns, especially in times of uncertainty. This study uses the company size (measured in total assets), the debt ratio (leverage), Operating Cash Flow (OCF), Earnings Per Share, (EPS), and net profit as measures that reflect financial statements' information. On the other hand, nonfinancial statements' information (i.e., other information) is proxied by dollar component that reflects the firms' involvement in international trading activities or not. The study uses data from 86 firms registered in the Egyptian Stock Exchange from all non-financial institutions. The study covers the financial statements and stock return information from March 2021 to March 2022. The results revealed that company size and dollar components (non-financial statement information) have a significant and positive relationship with stock return. On the other side, the other financial statement's information revealed nonsignificant relation with stock return .‫ال‬ ‫مجلة‬ ‫المحاسبية‬ ‫بحوث‬ ‫اﻻ‬ ‫العدد‬ ‫مارس‬ ‫ول‬ ٣ ٢٠٢

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Section: ‫ال‬ ‫مجلة‬ ‫المحاسبية‬ ‫بحوث‬ ‫اﻻ‬ ‫العدد‬ ‫مارس‬ ‫ول‬ ٣ ٢٠٢mentioning

confidence: 99%

The Use of Financial Statements’ Information and Other Information in Investors’ Decisions

Ganna¹

2023

مجلة البحوث المحاسبیة

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“…However, the present study centres on the industrial sector of the Nigerian economy, exhibiting a greater emphasis on indigenous factors compared to the previous study, which had a foreign-oriented perspective. Parlak and Ilhan (2016) [24] conducted a study to investigate the impact of foreign exchange open positions on the financial performance of industrial and service sector enterprises in Turkey. A sample of thirty (30) organisations was utilised for the duration spanning from the third quarter of 2012 to the second quarter of 2015.…”

Section: Empirical Reviewmentioning

confidence: 99%

Hedge accounting and the value of manufacturing firms in Nigeria

Ukpong,

Akpan,

Ukpong

et al. 2023

Asian J. Manage. Commerce

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The study was conducted to examine the influence of hedge accounting variables on firm value of listed manufacturing firms in Nigeria. This was conceived due to the fact that the business environment is volatile, complex, multifaceted and risky and uncertainties being the order of the day, since most of the assets and liabilities of manufacturing companies in Nigeria have derivative features. Ex-post facto research design was adopted in the study using Secondary data obtained from the annual reports of the 42 sampled listed manufacturing firms for the period 2013 to 2022, the nature of the data was panel. Market value of the firms was the dependent variable, while exchange rate, interest rate, and leverage were the independent variables. Data were analyzed using Ordinary Least Squares (OLS) regression technique. Results revealed that exchange rate and interest rate were statistically significant (P-value 0.0005 and 0.0072) while leverage was not (P-value 0.5509). The coefficient of variation was 0.9603%, meaning the variables of the study account for 96.03% of the variation in firm value while 3.97% by other variables not captured in the model. It was concluded that, hedge accounting practices influence firm value of listed manufacturing companies in Nigeria. It was recommended that hedge accounting practices be standardized to reduce incidences of incurring excessive losses.

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“…Studies examining the effects of exchange rate risk on firm performance and firm value are Runo (2013), Parlak and İlhan (2016), Héricourt and Poncet (2015), and Kuchin (2019).…”

Section: Literaturementioning

confidence: 99%

Kur Riski ve Kur Riski Yönetiminin Firma Performansına Etkisi

Şenol¹

2021

Ekonomi, Politika &Amp; Finans Araştırmaları Dergisi

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Gelişen ekonomilerde hem ülke boyutunda hem de firma boyutunda ekonomik ya da finansal büyümenin gerçekleştirilebilmesi için dövize dayalı işlemlere sıkça başvurulduğu bilinen bir gerçektir. Dövize dayalı yapılan işlemlerin sonucu olarak hem ülkeler hem de firmalar kur riski ile karşılaşırlar. Bu çalışmada Metal Eşya, Makine, Elektrikli Cihazlar ve Ulaşım Araçları Sektöründe kur riski ve kur riski yönetiminin firma performansı üzerine etkileri araştırılmaktadır. Çalışmada 2007-2019 yıllarına ait yıllık veriler kullanılmıştır. Yapılan panel veri analizi sonuçlarına göre kur riski ve kur riski yönetiminin firma karlılığını azalttığı buna karşılık firma değerini etkilemediği ortaya çıkmıştır. Çalışmada ayrıca büyüme, likidite, kaldıraç ve aktif devir hızının kur riski ve kur riski yönetiminin belirleyicileri olduğu tespit edilmiştir. Aynı sonuçlara ulaşıldığı için, firmaların kur riski ile kur riski yönetimleri arasında farklılıkların pek olmadığı, yani döviz kurundan kaynaklı riskleri yeterince yönetmedikleri anlaşılmaktadır. Sonuçlar, firma yöneticilerinin kur risklerini daha iyi yönetmeleri gerektiğini göstermektedir. Ayrıca Merkez Bankası ve ekonomi yönetimlerinin döviz kurlarında oynaklığı azaltacak, istikrarı artıracak politikaları uygulamaları önem taşımaktadır.

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Foreign Exchange Risk and Financial Performance: The Case of Turkey

Cited by 9 publications

References 8 publications

The Use of Financial Statements’ Information and Other Information in Investors’ Decisions

The Use of Financial Statements’ Information and Other Information in Investors’ Decisions

Hedge accounting and the value of manufacturing firms in Nigeria

Kur Riski ve Kur Riski Yönetiminin Firma Performansına Etkisi

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