Araştırma Makalesi
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FINANCIAL REPORT TRANSPARENCY AND FINANCIAL PERFORMANCE: A RESEARCH ON BORSA ISTANBUL

Yıl 2021, Cilt: 39 Sayı: 3, 379 - 390, 29.09.2021
https://doi.org/10.17065/huniibf.808007

Öz

Transparency in financial reports is seen as a critical element that makes it possible to evaluate the current financial performance of companies and is also necessary for the effective functioning of capital markets. This study investigates the relationship between financial report transparency and financial performance of company. For this purpose, 359 firm/year data obtained from non-financial institutions traded in Borsa Istanbul Corporate Governance Index between 2007 and 2019 are analyzed with the fixed effects model. The public disclosure and transparency score is used to measure financial report transparency. Research results indicate that there is no statistically significant relationship between financial report transparency and financial performance of company.

Kaynakça

  • Adiloglu, B., B. Vuran (2012), “The Relationship Between The Financial Ratios and Transparency Levels of Financial Information Disclosures within The Scope of Corporate Governance: Evidence from Turkey”, Journal of Applied Business Research, 28(4), 543-554.
  • Adiloglu, B., N. Gungor, G. Yucel (2018), “The Link Between Financial Transparency and Key Financial Ratios: A Case From Turkey”, Press Academia Procedia, 4 th Global Business Research Congress, Istanbul, Turkey, PAP- V. 7-2018(25), 155-158. https://dergipark.org.tr/tr/download/article-file/53276, E.T.: 13.07.2020.
  • Ahmed, S. (2015), “Determinants of The Quality of Disclosed Earnings and Value Relevance Across Transitional Europe”, Journal of Accounting in Emerging Economies, 5(3), 325-349.
  • ALghusin, N. A. S. (2015), “Do Financial Leverage, Growth and Size Affect Profitability of Jordanian Industrial Firms Listed?”, The International Journal of Academic Research in Business and Social Sciences, 5(4), 385-398.
  • Alzharani, A. M., A. Che-Ahmad, K. S. Aljaaidi (2012), “Factors Assocıated wıth Fırm Performance: Empırıcal Evıdence From The Kıngdom of Saudı Arabıa”, Accounting & Taxation, 4(2), 49-56.
  • Aksu, M. (2006), “Transparency & Disclosure in The Istanbul Stock Exchange: Did IFRS Adoption and Corporate Governance Principles Make a Difference”, SSRN, https://papers.ssrn.com/sol3/papers.cfm?abstract_id=965301, E.T.: 02.06.2020.
  • Aksu, M., A. Kosedag (2006a), “İstanbul Menkul Kıymetler Borsası Şirketlerinin Şeffaflık ve Kamuyu Bilgilendirme Bakımından Derecelendirilmesi”, ISMMMO -TURMOB-Yeminli Mali Müşavirler Odası Konferans Tutanakları, 58, 217-242, people.sabanciuniv.edu/~maksu/papers/ISMMMO06.doc, E.T.: 02.06.2020.
  • Aksu, M., A. Kosedag (2006b), “Transparency & Disclosure Scores and Their Determinants in The Istanbul Stock Exchange”, SSRN, https://papers.ssrn.com/sol3/papers.cfm?abstract_id=852224, E.T.: 04.06.2020.
  • Arioglu, E., K. Tuan (2014), “Speed of Adjustment: Evidence from Borsa Istanbul”, Borsa Istanbul Review, 14(2), 126-131.
  • Arsov, S., V. Bucevska (2017), “Determinants of Transparency and Disclosure-Evidence from Post-Transition Economies”, Economic Research-Ekonomska Istraživanja, 30(1), 745-760, DOI: 10.1080/1331677X.2017.1314818, E.T.: 02.06.2020.
  • Arsoy Poroy, A. (2008), “Kurumsal Şeffaflık ve Muhasebe Standartları”, Afyon Kocatepe Üniversitesi, İ.İ.B.F. Dergisi, 10(2), 17-35.
  • Ashbaugh-Skaife, H. A., D. W. Collins, R. LaFond (2004), “Corporate Governance and The Cost of Equity Capital”, SSRN, 1-52. https://papers.ssrn.com/sol3/papers.cfm?abstract_id=639681, E.T.: 16.06.2020.
  • Barth, M. E., K. Schipper (2008), “Financial Reporting Transparency”, Journal of Accounting, Auditing & Finance, 23(2), 173-190. https://doi.org/10.1177/0148558X0802300203, E.T.: 02.06.2020.
  • Bai, C.-E., Q. Liu, J. Z. Lu, F. M. Song, J. Zhang (2003), “Corporate Governance and Market Valuation in China”, William Davidson Working Paper Number 564, The William Davidson Institute at The University of Michigan Business School, 1-43. https://papers.ssrn.com/sol3/papers.cfm?abstract_id=393440, E.T.: 16.06.2020.
  • Baltagi, B. H. (2005), “Econometric Analysis of Panel Data” 3th edn., New York: John Wiley & Sons Ltd.
  • Bayyurt, N. (2007), “İşletmelerde Performans Değerlendirmenin Önemi ve Performans Göstergeleri Arasındaki İlişkiler”, Sosyal Siyaset Konferansları Dergisi, 53, 577-592.
  • Berglöf, E., A. Pajuste (2005), “What Do Firms Disclose and Why? Enforcing Corporate Governance and Transparency in Central and Eastern Europe”, Oxford Review of Economic Policy, 21, 178-197.
  • Bushman, R. M., A. J. Smith (2003), “Transparency, Financial Accounting Information and Corporate Governance”, Economic Policy Review, 65-87.
  • Bushman R., J. Piotroski, A. Smith (2004), “What Determines Corporate, Transparency?”, Journal of Accounting Research, 42(2), 207-252.
  • Brown, L. D., M. L. Caylor (2004), “Corporate Governance and Firm Performance”, SSRN, 1-52. https://papers.ssrn.com/sol3/papers.cfm?abstract_id=586423, E.T.: 02.06.2020.
  • Ciftci, I., E. Tatoglu, G. Wood, M. Demirbag, S. Zaim (2019), “Corporate Governance and Firm Performance in Emerging Markets: Evidence From Turkey”, International Business Review, 28(1), 90-103. https://doi.org/10.1016/J.IBUSREV.2018.08.004, E.T.: 22.07.2020.
  • Edeigba, J., F. Amenkhienan (2017), “The Influence of IFRS Adoption on Corporate Transparency and Accountability: Evidence from New Zealand”, Australasian Accounting Business and Finance Journal, 11(3), 3-19. doi:10.14453/aabfj.v11i3.2, E.T.: 16.06.2020.
  • Ergin, E. (2012), “Corporate Governance Ratings and Market-Based Financial Performance: Evidence from Turkey”, International Journal of Economics and Finance, 4(9), 61-68.
  • Farhi, E., J. Lerner, J. Tirole (2013), “Fear of Rejection? Tiered Certification and Transparency”, The Rand Journal of Economics, 44, 610-631.
  • Gujarati, D. N. (2004), “Basic Econometrics”, 4th edn. New Delhi: Tata McGraw-Hill.
  • Hanifa, M. H., H-M. Ab. Rashid (2005), “The Determinants of Voluntary Disclosures in Malaysia: The Case of Internet Financial Reporting”, Unitar E-Journal, 2, 22-42.
  • Hermalin, B., M. Weisbach (2007), “Transparency and Corporate Governance”, NBER Working Papers, 12875. Cambridge, MA: National Bureau of Economic Research.
  • Hunton, J., R. Libby, C. L. Mazza (2006), “Financial Reporting Transparency and Earrings Management”, The Accounting Review, 81, 135-157.
  • Jahanshad, A., F. Heidarpoor, Y. Valizadeh (2014), “Relationship Between Financial Information Transparency and Financial Performance of Listed Companies in Tehran Stock Exchange”, Research Journal of Recent Sciences, 3(3), 27-32.
  • Kalaycı, E., R. Özpeynirci (2014), “Kurumsal Yönetim Anlayışı Temelinde Kamuyu Aydınlatma ve Şeffaflık İlkelerinin Muhasebe Bilgi Sistemine Yansımaları”, International Conference on Eurasian Economies, Skopje- Macedonia.
  • Kallamu, B. S., N. A. M. Saat (2015), “Audit Committee Attributes and Firm Performance: Evidence From Malaysian Finance Companies”, Asian Review of Accounting, Emerald Group Publishing, 23(3), 206-231, September. Kara, E., D. Erdur Acar, L. Karabıyık (2015), “Effects of Corporate Governance Level on The Financial Performance of Companies: A Research on BIST Corporate Governance Index (XKURY)”, Ege Akademik Bakış / Ege Academic Review, 15(2), 265-274.
  • Karamustafa, O., İ. Varıcı, B. Er (2009), “Kurumsal Yönetim ve Firma Performansı: İMKB Kurumsal Yönetim Endeksi Kapsamındaki Firmalar Üzerinde Bir Uygulama”, Kocaeli Üniversitesi Sosyal Bilimler Enstitüsü Dergisi, 17, 100-119.
  • Kılcı, H. (2017), “Kurumsal Yönetimde Kamuyu Aydınlatma ve Şeffaflık İlkesinin Yeri ve Önemi”, Journal of Emerging Economies And Policy, 2(1), 48-54.
  • Kothari, S. P., X. Li, J. E. Short (2009), “The Effect of Disclosures by Management, Analysts, and Business Press on Cost of Capital, Return Volatility, and Analyst Forecasts: A Study Using Content Analysis”, The Accounting Review, 84(5), 1639-1670, http://www.jstor.org/stable/27784235, E.T.: 16.06.2020.
  • Kumar, J. (2004), “Does Ownership Structure Influence Firm Value? Evidence from India”, Basel meetings, EFMA.
  • Lai, S., C. Liu, T. Wang (2014), “Increased Disclosure and Investment Efficiency”, Asia-Pacific Journal of Accounting & Economics, 21, 308-327.
  • Lin, Y.-C., S. Y. Huang, Y.-F. Chang, C.-H. Tseng (2007), “The Relationship Between Information Transparency and The Informativeness of Accounting Earnings”, Journal of Applied Business Research (JABR), 23(3), https://doi.org/10.19030/jabr.v23i3.1388, E.T.: 22.07.2020. Mazumdar, S. C., A. Sarin, P. Sengupta (2002), “To Tell or Not to Tell: The Value of Corporate Disclosure”, Research Gate, 1-28,
  • https://www.researchgate.net/publication/228558621_To_tell_or_not_to_tell_the_value_of_corporate_disclosure/link/57cfd4f208ae83b3746307db/download, E.T.: 22.07.2020.
  • Madhani, P. M. (2007), “Role of Voluntary Disclosure and Transparency in Financial Reporting”, The Accounting World, 7(6), 63-66.
  • Myring, M., R. T. Shortridge (2010), “Corporate Governance and The Quality of Financial Disclosures”, International Business & Economics Research Journal (IBER), 9(6), 103-110, https://doi.org/10.19030/iber.v9i6.589, E.T.: 02.06.2020.
  • Pamukçu, F. (2011), “Finansal Raporlama ile Kamuyu Aydınlatma ve Şeffaflıkta Kurumsal Yönetimin Önemi”, Muhasebe ve Finansman Dergisi, Muhasebe ve Finansman Öğretim Üyeleri Bilim ve Araştırma Derneği, 50, 133-148.
  • Sayyar, H., R. Basiruddin, S. Z. A. Rasid (2014), “Mandatory Audit Firm and Audit Partner Rotation”, European Journal of Business and Management, 6(26), 352-389.
  • Shleifer, A., D. Wolfenzon (2002), “Investor Protection and Equity Markets”, Journal of Financial Economics, 66, 3-27, https://scholar.harvard.edu/files/shleifer/files/ip_equitymarkets.pdf, E.T.: 16.06.2020.
  • Shin, H. S. (2003), “Disclosures and Asset Returns”, The Econometric Society, JStor, 71(1), 105-133, https://www.jstor.org/stable/3082042?seq=1, E.T.: 22.07.2020.
  • Sermaye Piyasası Kurulu (SPK), (2005). Kurumsal Yönetim İlkeleri. Ankara.
  • Tükenmez, M., A. G. Gençyürek, M. İ. Karakelleoğlu (2017), “Kurumsal Yönetim Derecelendirme Notlarının Şirketlerin Finansal Performansı Üzerindeki Etkisi”, Ege Stratejik Araştırmalar Dergisi, 8(1), 1-18.
  • Verrecchia, R. (2001), “Essays on Disclosure”, Journal of Accounting and Economics, 32(1-3), 97-180.
  • Wanjau, B. M., W. M. Muturi, P. Ngumi (2018), “Effect of Financial Transparency on Financial Performance of Companies Listed in East Africa Securities Exchanges”, Research Journal of Finance and Accounting, ISSN 2222-1697 (Paper) ISSN 2222-2847 (Online), 9(4), 7-10, https://core.ac.uk/download/pdf/234632243.pdf, E.T.: 22.07.2020.
  • Yu, F. (2005), “Accounting Transparency and The Term Structure of Credit Spreads”, Journal of Financial Economics, 75(1), 55-84.

FİNANSAL RAPOR ŞEFFAFLIĞI VE FİNANSAL PERFORMANS: BORSA İSTANBUL’DA BİR ARAŞTIRMA

Yıl 2021, Cilt: 39 Sayı: 3, 379 - 390, 29.09.2021
https://doi.org/10.17065/huniibf.808007

Öz

Finansal raporlarda şeffaflık, şirketlerin mevcut finansal performanslarının değerlendirilebilmesini mümkün kılan ve sermaye piyasalarının etkin işleyişi için de gerekli olan kritik bir unsur olarak görülmektedir. Bu çalışma, finansal rapor şeffaflığı ile şirketin finansal performansı arasındaki ilişkiyi araştırmaktadır. Bu amaç doğrultusunda, 2007-2019 yılları arasında Borsa İstanbul Kurumsal Yönetim Endeksi’nde işlem gören finansal olmayan kuruluşlardan elde edilen 359 şirket/yıl verisi sabit etkiler modeli ile analiz edilmiştir. Finansal rapor şeffaflığının ölçülmesinde şirketin almış olduğu kamuyu aydınlatma ve şeffaflık puanından yararlanılmıştır. Araştırma sonuçları, finansal rapor şeffaflığı ile şirketin finansal performansı arasında istatistiksel olarak anlamlı bir ilişki olmadığına işaret etmektedir.

Kaynakça

  • Adiloglu, B., B. Vuran (2012), “The Relationship Between The Financial Ratios and Transparency Levels of Financial Information Disclosures within The Scope of Corporate Governance: Evidence from Turkey”, Journal of Applied Business Research, 28(4), 543-554.
  • Adiloglu, B., N. Gungor, G. Yucel (2018), “The Link Between Financial Transparency and Key Financial Ratios: A Case From Turkey”, Press Academia Procedia, 4 th Global Business Research Congress, Istanbul, Turkey, PAP- V. 7-2018(25), 155-158. https://dergipark.org.tr/tr/download/article-file/53276, E.T.: 13.07.2020.
  • Ahmed, S. (2015), “Determinants of The Quality of Disclosed Earnings and Value Relevance Across Transitional Europe”, Journal of Accounting in Emerging Economies, 5(3), 325-349.
  • ALghusin, N. A. S. (2015), “Do Financial Leverage, Growth and Size Affect Profitability of Jordanian Industrial Firms Listed?”, The International Journal of Academic Research in Business and Social Sciences, 5(4), 385-398.
  • Alzharani, A. M., A. Che-Ahmad, K. S. Aljaaidi (2012), “Factors Assocıated wıth Fırm Performance: Empırıcal Evıdence From The Kıngdom of Saudı Arabıa”, Accounting & Taxation, 4(2), 49-56.
  • Aksu, M. (2006), “Transparency & Disclosure in The Istanbul Stock Exchange: Did IFRS Adoption and Corporate Governance Principles Make a Difference”, SSRN, https://papers.ssrn.com/sol3/papers.cfm?abstract_id=965301, E.T.: 02.06.2020.
  • Aksu, M., A. Kosedag (2006a), “İstanbul Menkul Kıymetler Borsası Şirketlerinin Şeffaflık ve Kamuyu Bilgilendirme Bakımından Derecelendirilmesi”, ISMMMO -TURMOB-Yeminli Mali Müşavirler Odası Konferans Tutanakları, 58, 217-242, people.sabanciuniv.edu/~maksu/papers/ISMMMO06.doc, E.T.: 02.06.2020.
  • Aksu, M., A. Kosedag (2006b), “Transparency & Disclosure Scores and Their Determinants in The Istanbul Stock Exchange”, SSRN, https://papers.ssrn.com/sol3/papers.cfm?abstract_id=852224, E.T.: 04.06.2020.
  • Arioglu, E., K. Tuan (2014), “Speed of Adjustment: Evidence from Borsa Istanbul”, Borsa Istanbul Review, 14(2), 126-131.
  • Arsov, S., V. Bucevska (2017), “Determinants of Transparency and Disclosure-Evidence from Post-Transition Economies”, Economic Research-Ekonomska Istraživanja, 30(1), 745-760, DOI: 10.1080/1331677X.2017.1314818, E.T.: 02.06.2020.
  • Arsoy Poroy, A. (2008), “Kurumsal Şeffaflık ve Muhasebe Standartları”, Afyon Kocatepe Üniversitesi, İ.İ.B.F. Dergisi, 10(2), 17-35.
  • Ashbaugh-Skaife, H. A., D. W. Collins, R. LaFond (2004), “Corporate Governance and The Cost of Equity Capital”, SSRN, 1-52. https://papers.ssrn.com/sol3/papers.cfm?abstract_id=639681, E.T.: 16.06.2020.
  • Barth, M. E., K. Schipper (2008), “Financial Reporting Transparency”, Journal of Accounting, Auditing & Finance, 23(2), 173-190. https://doi.org/10.1177/0148558X0802300203, E.T.: 02.06.2020.
  • Bai, C.-E., Q. Liu, J. Z. Lu, F. M. Song, J. Zhang (2003), “Corporate Governance and Market Valuation in China”, William Davidson Working Paper Number 564, The William Davidson Institute at The University of Michigan Business School, 1-43. https://papers.ssrn.com/sol3/papers.cfm?abstract_id=393440, E.T.: 16.06.2020.
  • Baltagi, B. H. (2005), “Econometric Analysis of Panel Data” 3th edn., New York: John Wiley & Sons Ltd.
  • Bayyurt, N. (2007), “İşletmelerde Performans Değerlendirmenin Önemi ve Performans Göstergeleri Arasındaki İlişkiler”, Sosyal Siyaset Konferansları Dergisi, 53, 577-592.
  • Berglöf, E., A. Pajuste (2005), “What Do Firms Disclose and Why? Enforcing Corporate Governance and Transparency in Central and Eastern Europe”, Oxford Review of Economic Policy, 21, 178-197.
  • Bushman, R. M., A. J. Smith (2003), “Transparency, Financial Accounting Information and Corporate Governance”, Economic Policy Review, 65-87.
  • Bushman R., J. Piotroski, A. Smith (2004), “What Determines Corporate, Transparency?”, Journal of Accounting Research, 42(2), 207-252.
  • Brown, L. D., M. L. Caylor (2004), “Corporate Governance and Firm Performance”, SSRN, 1-52. https://papers.ssrn.com/sol3/papers.cfm?abstract_id=586423, E.T.: 02.06.2020.
  • Ciftci, I., E. Tatoglu, G. Wood, M. Demirbag, S. Zaim (2019), “Corporate Governance and Firm Performance in Emerging Markets: Evidence From Turkey”, International Business Review, 28(1), 90-103. https://doi.org/10.1016/J.IBUSREV.2018.08.004, E.T.: 22.07.2020.
  • Edeigba, J., F. Amenkhienan (2017), “The Influence of IFRS Adoption on Corporate Transparency and Accountability: Evidence from New Zealand”, Australasian Accounting Business and Finance Journal, 11(3), 3-19. doi:10.14453/aabfj.v11i3.2, E.T.: 16.06.2020.
  • Ergin, E. (2012), “Corporate Governance Ratings and Market-Based Financial Performance: Evidence from Turkey”, International Journal of Economics and Finance, 4(9), 61-68.
  • Farhi, E., J. Lerner, J. Tirole (2013), “Fear of Rejection? Tiered Certification and Transparency”, The Rand Journal of Economics, 44, 610-631.
  • Gujarati, D. N. (2004), “Basic Econometrics”, 4th edn. New Delhi: Tata McGraw-Hill.
  • Hanifa, M. H., H-M. Ab. Rashid (2005), “The Determinants of Voluntary Disclosures in Malaysia: The Case of Internet Financial Reporting”, Unitar E-Journal, 2, 22-42.
  • Hermalin, B., M. Weisbach (2007), “Transparency and Corporate Governance”, NBER Working Papers, 12875. Cambridge, MA: National Bureau of Economic Research.
  • Hunton, J., R. Libby, C. L. Mazza (2006), “Financial Reporting Transparency and Earrings Management”, The Accounting Review, 81, 135-157.
  • Jahanshad, A., F. Heidarpoor, Y. Valizadeh (2014), “Relationship Between Financial Information Transparency and Financial Performance of Listed Companies in Tehran Stock Exchange”, Research Journal of Recent Sciences, 3(3), 27-32.
  • Kalaycı, E., R. Özpeynirci (2014), “Kurumsal Yönetim Anlayışı Temelinde Kamuyu Aydınlatma ve Şeffaflık İlkelerinin Muhasebe Bilgi Sistemine Yansımaları”, International Conference on Eurasian Economies, Skopje- Macedonia.
  • Kallamu, B. S., N. A. M. Saat (2015), “Audit Committee Attributes and Firm Performance: Evidence From Malaysian Finance Companies”, Asian Review of Accounting, Emerald Group Publishing, 23(3), 206-231, September. Kara, E., D. Erdur Acar, L. Karabıyık (2015), “Effects of Corporate Governance Level on The Financial Performance of Companies: A Research on BIST Corporate Governance Index (XKURY)”, Ege Akademik Bakış / Ege Academic Review, 15(2), 265-274.
  • Karamustafa, O., İ. Varıcı, B. Er (2009), “Kurumsal Yönetim ve Firma Performansı: İMKB Kurumsal Yönetim Endeksi Kapsamındaki Firmalar Üzerinde Bir Uygulama”, Kocaeli Üniversitesi Sosyal Bilimler Enstitüsü Dergisi, 17, 100-119.
  • Kılcı, H. (2017), “Kurumsal Yönetimde Kamuyu Aydınlatma ve Şeffaflık İlkesinin Yeri ve Önemi”, Journal of Emerging Economies And Policy, 2(1), 48-54.
  • Kothari, S. P., X. Li, J. E. Short (2009), “The Effect of Disclosures by Management, Analysts, and Business Press on Cost of Capital, Return Volatility, and Analyst Forecasts: A Study Using Content Analysis”, The Accounting Review, 84(5), 1639-1670, http://www.jstor.org/stable/27784235, E.T.: 16.06.2020.
  • Kumar, J. (2004), “Does Ownership Structure Influence Firm Value? Evidence from India”, Basel meetings, EFMA.
  • Lai, S., C. Liu, T. Wang (2014), “Increased Disclosure and Investment Efficiency”, Asia-Pacific Journal of Accounting & Economics, 21, 308-327.
  • Lin, Y.-C., S. Y. Huang, Y.-F. Chang, C.-H. Tseng (2007), “The Relationship Between Information Transparency and The Informativeness of Accounting Earnings”, Journal of Applied Business Research (JABR), 23(3), https://doi.org/10.19030/jabr.v23i3.1388, E.T.: 22.07.2020. Mazumdar, S. C., A. Sarin, P. Sengupta (2002), “To Tell or Not to Tell: The Value of Corporate Disclosure”, Research Gate, 1-28,
  • https://www.researchgate.net/publication/228558621_To_tell_or_not_to_tell_the_value_of_corporate_disclosure/link/57cfd4f208ae83b3746307db/download, E.T.: 22.07.2020.
  • Madhani, P. M. (2007), “Role of Voluntary Disclosure and Transparency in Financial Reporting”, The Accounting World, 7(6), 63-66.
  • Myring, M., R. T. Shortridge (2010), “Corporate Governance and The Quality of Financial Disclosures”, International Business & Economics Research Journal (IBER), 9(6), 103-110, https://doi.org/10.19030/iber.v9i6.589, E.T.: 02.06.2020.
  • Pamukçu, F. (2011), “Finansal Raporlama ile Kamuyu Aydınlatma ve Şeffaflıkta Kurumsal Yönetimin Önemi”, Muhasebe ve Finansman Dergisi, Muhasebe ve Finansman Öğretim Üyeleri Bilim ve Araştırma Derneği, 50, 133-148.
  • Sayyar, H., R. Basiruddin, S. Z. A. Rasid (2014), “Mandatory Audit Firm and Audit Partner Rotation”, European Journal of Business and Management, 6(26), 352-389.
  • Shleifer, A., D. Wolfenzon (2002), “Investor Protection and Equity Markets”, Journal of Financial Economics, 66, 3-27, https://scholar.harvard.edu/files/shleifer/files/ip_equitymarkets.pdf, E.T.: 16.06.2020.
  • Shin, H. S. (2003), “Disclosures and Asset Returns”, The Econometric Society, JStor, 71(1), 105-133, https://www.jstor.org/stable/3082042?seq=1, E.T.: 22.07.2020.
  • Sermaye Piyasası Kurulu (SPK), (2005). Kurumsal Yönetim İlkeleri. Ankara.
  • Tükenmez, M., A. G. Gençyürek, M. İ. Karakelleoğlu (2017), “Kurumsal Yönetim Derecelendirme Notlarının Şirketlerin Finansal Performansı Üzerindeki Etkisi”, Ege Stratejik Araştırmalar Dergisi, 8(1), 1-18.
  • Verrecchia, R. (2001), “Essays on Disclosure”, Journal of Accounting and Economics, 32(1-3), 97-180.
  • Wanjau, B. M., W. M. Muturi, P. Ngumi (2018), “Effect of Financial Transparency on Financial Performance of Companies Listed in East Africa Securities Exchanges”, Research Journal of Finance and Accounting, ISSN 2222-1697 (Paper) ISSN 2222-2847 (Online), 9(4), 7-10, https://core.ac.uk/download/pdf/234632243.pdf, E.T.: 22.07.2020.
  • Yu, F. (2005), “Accounting Transparency and The Term Structure of Credit Spreads”, Journal of Financial Economics, 75(1), 55-84.
Toplam 49 adet kaynakça vardır.

Ayrıntılar

Birincil Dil Türkçe
Bölüm Hacettepe Üniversitesi İktisadi ve İdari Bilimler Fakültesi Dergisi
Yazarlar

Bilal Zafer Berikol 0000-0001-5870-5407

Koray Tuan 0000-0002-2168-6481

Yayımlanma Tarihi 29 Eylül 2021
Gönderilme Tarihi 8 Ekim 2020
Yayımlandığı Sayı Yıl 2021 Cilt: 39 Sayı: 3

Kaynak Göster

APA Berikol, B. Z., & Tuan, K. (2021). FİNANSAL RAPOR ŞEFFAFLIĞI VE FİNANSAL PERFORMANS: BORSA İSTANBUL’DA BİR ARAŞTIRMA. Hacettepe Üniversitesi İktisadi Ve İdari Bilimler Fakültesi Dergisi, 39(3), 379-390. https://doi.org/10.17065/huniibf.808007
AMA Berikol BZ, Tuan K. FİNANSAL RAPOR ŞEFFAFLIĞI VE FİNANSAL PERFORMANS: BORSA İSTANBUL’DA BİR ARAŞTIRMA. Hacettepe Üniversitesi İktisadi ve İdari Bilimler Fakültesi Dergisi. Eylül 2021;39(3):379-390. doi:10.17065/huniibf.808007
Chicago Berikol, Bilal Zafer, ve Koray Tuan. “FİNANSAL RAPOR ŞEFFAFLIĞI VE FİNANSAL PERFORMANS: BORSA İSTANBUL’DA BİR ARAŞTIRMA”. Hacettepe Üniversitesi İktisadi Ve İdari Bilimler Fakültesi Dergisi 39, sy. 3 (Eylül 2021): 379-90. https://doi.org/10.17065/huniibf.808007.
EndNote Berikol BZ, Tuan K (01 Eylül 2021) FİNANSAL RAPOR ŞEFFAFLIĞI VE FİNANSAL PERFORMANS: BORSA İSTANBUL’DA BİR ARAŞTIRMA. Hacettepe Üniversitesi İktisadi ve İdari Bilimler Fakültesi Dergisi 39 3 379–390.
IEEE B. Z. Berikol ve K. Tuan, “FİNANSAL RAPOR ŞEFFAFLIĞI VE FİNANSAL PERFORMANS: BORSA İSTANBUL’DA BİR ARAŞTIRMA”, Hacettepe Üniversitesi İktisadi ve İdari Bilimler Fakültesi Dergisi, c. 39, sy. 3, ss. 379–390, 2021, doi: 10.17065/huniibf.808007.
ISNAD Berikol, Bilal Zafer - Tuan, Koray. “FİNANSAL RAPOR ŞEFFAFLIĞI VE FİNANSAL PERFORMANS: BORSA İSTANBUL’DA BİR ARAŞTIRMA”. Hacettepe Üniversitesi İktisadi ve İdari Bilimler Fakültesi Dergisi 39/3 (Eylül 2021), 379-390. https://doi.org/10.17065/huniibf.808007.
JAMA Berikol BZ, Tuan K. FİNANSAL RAPOR ŞEFFAFLIĞI VE FİNANSAL PERFORMANS: BORSA İSTANBUL’DA BİR ARAŞTIRMA. Hacettepe Üniversitesi İktisadi ve İdari Bilimler Fakültesi Dergisi. 2021;39:379–390.
MLA Berikol, Bilal Zafer ve Koray Tuan. “FİNANSAL RAPOR ŞEFFAFLIĞI VE FİNANSAL PERFORMANS: BORSA İSTANBUL’DA BİR ARAŞTIRMA”. Hacettepe Üniversitesi İktisadi Ve İdari Bilimler Fakültesi Dergisi, c. 39, sy. 3, 2021, ss. 379-90, doi:10.17065/huniibf.808007.
Vancouver Berikol BZ, Tuan K. FİNANSAL RAPOR ŞEFFAFLIĞI VE FİNANSAL PERFORMANS: BORSA İSTANBUL’DA BİR ARAŞTIRMA. Hacettepe Üniversitesi İktisadi ve İdari Bilimler Fakültesi Dergisi. 2021;39(3):379-90.

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