The Effect of Companies' Internal Control Structures on Their Financial Performance: An Application on BIST-30

Yıl 2024, Cilt: 16 Sayı: 31, 537 - 552, 28.11.2024

Özge Özkan , Merve Bakan , Ahmet Şit

https://doi.org/10.20990/kilisiibfakademik.1509964

Öz

Purpose: The aim of this study was to investigate the effect of internal control structures on the financial performance of firms included in the BIST-30 Index.
Design/Methodology: The data of the firms for the period 2018-2022 were used annually. Return On Equity and Market value to book value were used in the study to represent profitability as dependent variables. The independent variables were the number of audit committee members, the number of internal control reports, the number of audit committee meetings, the number of audit committee reports, and the rate of graduates in the audit board. GMM which is a dynamic panel data analysis technique and Driscoll Kray Regression were used as the method.
Findings: As a result of the findings, it is seen that the ratio of postgraduates on the audit committee, the number of audit committee members and the number of audit committee reports may have an effect on both ROA and PBRD, while the audit firm being a large firm may have an effect only on PBRD.
Limitations: The reason is that the study was applied only to Türkiye and no country comparison was made.
Originality/Value: There are a limited number of studies examining the impact of companies' internal control structures on their financial performance. This study is original in terms of both variables and method.

Anahtar Kelimeler

Internal Control, Financial Performance, BIST-30, GMM, Driscoll Kray Regression Analysis

Firmaların İç Kontrol Yapılarının Finansal Performansları Üzerine Etkisi: BISt-30 Üzerine Bir Uygulama

Öz

Amaç: Bu çalışmanın amacı, BIST-30 Endeksi'nde yer alan firmaların iç kontrol yapılarının finansal performansı üzerindeki etkisini araştırmaktır.
Tasarım/Yöntem: Firmaların 2018-2022 dönemine ait verileri yıllık olarak kullanılmıştır. Çalışmada karlılığı bağımlı değişken olarak temsil etmek için Özsermaye Getirisi ve Piyasa değerinin defter değerine oranı kullanılmıştır. Bağımsız değişkenler ise denetim komitesi üye sayısı, iç kontrol rapor sayısı, denetim komitesi toplantı sayısı, denetim komitesi rapor sayısı ve denetim kurulu mezunlarının oranıdır. Yöntem olarak dinamik panel veri analiz tekniği olan GMM ve Driscoll Kray Regresyon kullanılmıştır.
Bulgular: Bulgular sonucunda denetim firmasının büyük bir şirket olması yanında, denetim komitesindeki lisansüstü öğrencilerin oranının, denetim komitesi üye sayısının ve denetim komitesi rapor sayısının hem ROA hem de PBRD üzerinde etkili olabileceği görülmektedir. Firmanın yalnızca PBRD üzerinde etkisi olabilir.
Sınırlılıklar: Çalışmanın sadece Türkiye üzerine uygulanmış olması ve ülke karşılaştırması yapılmamasıdır.
Özgünlük/Değer: Firmaların iç kontrol yapılarının finansal performansları üzerine etkisi inceleyen sınırlı sayıda çalışma bulunmaktadır. Bu çalışma hem değişkenler açısından hem de yöntem açısından özgünlük taşımaktadır.

Anahtar Kelimeler

İç Kontrol, Finansal Performans, BIST-30, GMM, Driscoll Kray Regresyon Analizi

Kaynakça

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