Vol. 14 No. 3 (2026): Business & Management Studies: An International Journal
Articles

Determinants of the short-term liabilities ratio and the role of profitability across different inflationary periods: Panel data evidence from the BIST textile sector

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  • Selda Özbey
Selda Özbey
Dr., Istanbul Esenyurt University, Istanbul, Türkiye
Bio

Published 2026-09-25

Keywords

  • Short-Term Liabilities Ratio, Return on Assets, Inflation, Panel Data Analysis, Textile Sector
  • Kısa Vadeli Yabancı Kaynak Oranı, Aktif Kârlılığı, Enflasyon, Panel Veri Analizi, Tekstil Sektörü

How to Cite

Determinants of the short-term liabilities ratio and the role of profitability across different inflationary periods: Panel data evidence from the BIST textile sector. (2026). Business & Management Studies: An International Journal, 14(3), 1644-1660. https://doi.org/10.15295/bmij.v14i3.2798

Copyright (c) 2026 Selda Özbey

Creative Commons License

This work is licensed under a Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International License.

How to Cite

Determinants of the short-term liabilities ratio and the role of profitability across different inflationary periods: Panel data evidence from the BIST textile sector. (2026). Business & Management Studies: An International Journal, 14(3), 1644-1660. https://doi.org/10.15295/bmij.v14i3.2798

Abstract

This study examines the determinants of the short-term liabilities ratio in the BIST textile sector during high inflation periods, focusing on the relationship between firm-level financial indicators and the short-term liabilities ratio. A balanced panel dataset covering 2016–2025 and 200 firm-year observations for 20 firms is employed. Because ΔlnSIZE is calculated as a first difference, the regression models are estimated using 180 observations for the 2017–2025 period. Based on the Hausman test, a fixed effects model with White cross-section robust standard errors is employed. ROA is negatively and significantly associated with the short-term liabilities ratio, while HTV is positively and statistically significantly associated with the short-term liabilities ratio. CPI and its interaction with ROA are statistically insignificant; this result is confirmed using ENF. These findings indicate that, within the sample and model specifications examined, ROA and HTV are significantly associated with the short-term liabilities ratio, whereas no statistically significant association is detected between the inflation variable and the short-term liabilities ratio.

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