İnovasyon performansının finansal performans ve firma değeri üzerine etkisi: Borsa İstanbul'da bir uygulama

The main purpose of this study is to investigate the relationship between innovation performances, financial performances and firm values of companies. Within the scope of the study, among the companies that made the most R&D expenditures in 2018, 30 companies traded in BIST were selected and data were collected from financial reports and Finnet infrastructure on their websites. In accordance with the results obtained with factor analysis, regression and correlation analysis, it was found that the innovation performance of companies has statistically significant and positive relationship with the financial performance. However, a relationship between innovation performance and firm value could not be determined. In addition, it was observed that other financial performance indicators of companies excluding return on equity have a negative relationship with price / earnings ratio. According to the findings, it was concluded that the investments made in research and development activities were the most important factor in determining innovation performance, but the impact of the number of projects was the least.