Borsa İstanbul' da işlem gören finansal olmayan firmalarda sahiplik yapısının sermaye yapısı üzerindeki etkileri

In this thesis, the impact of companies' ownership structure on their capital structure was investigated. The panel data for 20 years between 1995-2014 obtained from non-financial firms listed on BIST were used. With the model set up in the study, how capital structure is affected was measured with the changes in ownership structure. The study resulted as; there is a meaningful statistical relationship between the ownership structure variables and the capital structure. In ceteris paribus situation, the increase of the major shareholders percentage, affected the company's debtness negatively; on the other hand the increase of the three other shareholders percentage affects positively the company's debtness. When only one person becomes the management of the company, companies get into lesser debt or usage of capital structure resources increases. In accordance with the theoretical expectations the increase of profitability of the company means a decrease indebtness and increase resources. The increase of the size of a company would affect debt to equity effect negatively. In short, the ownership structures of the business have an effect on the capital structures. Key words: Ownership Structure, Capital Structure, BorsaIstanbul