Measuring banks' earnings quality by market based methods: evidence from BIST

Abstract

The aim of this study is to measure the earnings quality of the Turkish banking sector within the framework of market-based models. For this purpose, 9 banks that are included in the BIST Banking Index (XBANKA) and whose data can be accessed completely were examined. In the study, financial statements of the relevant banks for the quarter periods of 2010Q1 - 2020Q2 and historical share price data were used. In the measurement of earnings quality, conservatism, value relationship and timeliness measurement models, which are among the market-based models, were examined. According to the analysis results of the study; surveyed banks have a conservative attitude in terms of earnings quality; The results show that the level of value relationship, which is defined as the ability of banks to explain the market prices of their earnings, is low and the banking sector has a positive attitude in terms of timeliness.

Keywords

• Turkish banking sector
• Conservatism
• Value relevance
• Timeliness

Bankaların kazanç kalitesinin piyasa temelli yöntemlerle ölçülmesi: BİST’ten kanıtlar

Abstract

Bu çalışmanın amacı, Türk bankacılık sektörünün kazanç kalitesini, piyasa temelli yöntemler çerçevesinde ölçmektir. Bu amaç doğrultusunda BİST Bankacılık Endeksinde (XBANKA) yer alan ve verilerine eksiksiz ulaşılabilen 9 banka incelenmiştir. Çalışmada ilgili bankaların, 2010Q1 - 2020Q2 çeyrek dönemlerine ait finansal tabloları ve tarihi pay senedi fiyat verilerden yararlanılmıştır. Kazanç kalitesinin ölçümünde piyasa temelli yöntemlerden muhafazakârlık, değer ilişkisi ve zamanlılık ölçüm modelleri incelenmiştir. Çalışmanın analiz sonuçlarına göre; incelenen bankaların kazanç kalitesi çerçevesinde muhafazakâr bir tutuma sahip olduğu; bankaların kazançlarının piyasa fiyatlarını açıklama kabiliyeti olarak tanımlanan değer ilişkisi düzeyinin düşük olduğu ve zamanlılık açısından bankacılık sektörünün pozitif bir tutum izlediği sonuçları elde edilmiştir.

Keywords

• Türk bankacılık sektörü
• Muhafazakârlık
• Değer ilişkisi
• Zamanlılık

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