Determination of factors affecting stock returns in bıst: Static and dynamic panel data analysis

BIST ensures the continuity of the manufacturing sector during the study period and 113 firm information accessible within the company and outside factors that affect stock returns, 2002:Q1 - 2011 :Q3 for the period investigated in this study used panel data analysis. According to the results of static and dynamic panel data analysis; While it was obtained significant relationship between Acid Test Ratio, Beta, Size, Gross Profit Margin, Current Rat io, Book Value/Market Value, Economic Value Added, Value Added Intellectual Capital, Earnings/Price, Cash Flow, Debt/Equity, Internationalization, Exchange Rate, Interest Rate and Money Supply variables with stock returns, not found significant relationsh ip with Return on Assets, Share of the Largest Shareholder, Free Float, Dividend Per Share, Tobin s Q, Manager Ownership, Gold Price, Balance of Trade, Industrial Production Index and Foreign Portfolio Investments variables.