THE EFFECTS OF GLOBAL FINANCIAL CRISIS ON THE CAPITAL STRUCTURE OF AUTOMOTIVE SECTOR TRADED IN ISTANBUL STOCK EXCHANGE (BIST)

Financial crisises is one of the important issues which attract both financiers and economists' attention. many theoretical and empirical work has been done on this subject. this study aims to measure the effects of the 2008 financial crisis on automotive sector traded in istanbul stock exchange (bist) by examining the change in the capital structure of the company pre and post crisis. this paper is decomposed from the other studies by examining pre and post crisis businesses' capital structures' differentiation. in addition, periods of the 2008 crisis and 2001 crisis is compared. in this paper by using the financial statements of the businesses in the automotive sector, in a total of four groups including liquidity, leverage, activity and profitability 20 ratios are calculated for a period of 14 years. then, t-tests is done with the data obtained to determine how the change of the capital structure before and after the crisis.