- Journal of Tourism Theory and Research
- Vol: 8 Issue: 1
- Determinants of price to earnings ratio: Evidence from Turkish tourism companies
Determinants of price to earnings ratio: Evidence from Turkish tourism companies
Authors : Ömer Iskenderoğlu, Erdinç Karadeniz
Pages : 1-4
Doi:10.24288/jttr.1027187
View : 9 | Download : 3
Publication Date : 2022-01-31
Article Type : Research
Abstract :This study tried to determine firm-specific variables that affect the price-to-earnings ratios of the listed tourism companies at Borsa Istanbul in Turkey over the period 2012q3 - 2020q3. For this purpose, the quarterly financial data of tourism companies were analyzed by using the Generalized Moments Method (GMM). As a result of the analysis, it was determined that a positive relationship existed between Tobin’s Q ratio and price-to-earnings ratio, whereas a negative relationship existed between leverage ratio as well as stock price volatility and price-to-earnings ratio. It was determined that no statistically significant relationship existed between sales size and price-to-earnings ratio.Keywords : Price to earnings ratio, Tobin, Leverage, Stock price volatility, Tourism