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BAĞIMSIZ DENETİM KALİTESİNİN FİNANSAL PERFORMANS ÜZERİNDEKİ ETKİSİNİN İNCELENMESİ: BORSA İSTANBUL’DA BİR UYGULAMA

Year 2017, Volume: 9 Issue: 19, 171 - 197, 30.06.2017
https://doi.org/10.20875/makusobed.323891

Abstract











Bu çalışmanın amacı, 2010-2014 yılları arasında Borsa
İstanbul (BIST) imalat sektöründe faaliyet gösteren 90 şirketin verilerini
kullanarak bağımsız denetim kalitesinin finansal performans üzerindeki etkisini
incelemektir. Bu kapsamda şirketlerin bağımsız denetim kalitesini temsilen dört
büyük denetim firması ve denetim görüşü değişkenleri; şirketlerin finansal
performanslarını temsilen ise Tobin Q, Aktif Kârlılık (ROA) ve Özsermaye Kârlılığı (ROE) oranları dikkate alınarak çoklu regresyon analiziyle test edilmiştir. Yapılan
analize göre, genel olarak bağımsız denetim kalitesinin finansal performans
üzerindeki etkisinin istatistiksel açıdan anlamlı ve pozitif yönde olduğu
tespit edilmiştir.



References

  • Abdullah, Fahad- Shah, Attaullah- Khan, Safi Ullah (2012), “Firm Performance and The Nature Of Agency Pathan Problems İn Insiders-Controlled Firms: Evidence From Pakistan”, The Pakistan Development Review, Vol: 51, No: 4, (161-183).
  • Afza, Talat- Nazir, Mian Sajid (2014), “Audit Quality and Firm Value: A Case of Pakistan”, Research Journal of Applied Sciences, Engineering and Technology, Vol: 7, No:9, (1803-1810).
  • Al Ani, Mawih Kareem and Dhofar, Zaroug Mohamed (2015), “Audit Quality Firm Performance Quality: Omani Experience”, European Journal of Economies, Finance and Administrative Sciences, Vol:74, (13-23).
  • Aledvan, Baker A.- Yaseen, Ahmad A. Bani- Alkubisi, Abdulsttar (2015), “The Role Of Audit Quality On The Relationship Between Auditor’s And Financial Performance Quality Of Selected Cement Firm In Jordan”, International Journal of Business and Social Science, Vol:6, No:12, (138-146).
  • Ardiana, Putu Agus (2014), “The Role of External Audit in Improving Firm’s Value: Case of Indonesia”, December, 21, The 5th International Conference Of The Japanese Accounting Review, (1-15), http://www.rieb.kobe-u.ac.jp/tjar/conference/5th/CA-1_PutuAgusARDIANA.pdf, (18.09.2016).
  • Becker, Connie L.- Mark L. Defond- Jiambalvo, James- K.R. Subramanyam, (1998), “The Effect Of Audit Quality On Earnings Management”, Contemporary Accounting Research, Vol:15, No:1, (1-24).
  • Bouaziz, Zied (2012), “The Impact Of The Presence Of Audit Committees On The Financial Performance Of Tunisian Companies”, International Journal of Management & Business Studies, Vol: 2, No:4, (57- 64).
  • Canbaş, Serpil- Doğukanlı Hatice- Düzakın, Hatice-İskenderoğlu, Ömer (2005), “Performans Ölçümünde Tobin Q Oranının Kullanılması: Hisse Senetleri İMKB'de İşlem Gören Sanayi İşletmeleri Üzerinde Bir Deneme”, Muhasebe ve Finansman Dergisi, Sayı: 28, (24-36).
  • Çetenak, Emin Hüseyin (2012), İşletme Grubu İlişkisinin Firma Performansına Etkisi: İMKB’de Bir Uygulama, Doktora Tezi, Çukurova Üniversitesi, Sosyal Bilimler Enstitüsü, Adana.
  • Chan, Kam C., Farrell, Barbara, Healy, Patricia and Lee, Picheng (2011), “Firm Performance Following Auditor Changes For Audit Fee Savings”, Journal of Business & Economics Research, Vol: 7, No: 10, (17-26).
  • Chen, Yohn Shir- Hsu, Joseph- Huang, Mei Ting- Yang, Ping Sen (2013), “Quality, Size And Performance Of Audit Firms”, The International Journal of Business and Finance Research, Vol: 7, No: 5, (89-105).
  • Cheng, Yu Shu- Chen, Yahn Shir-Chen, Yu Cheng (2013), “Direct And Mediating Effects Of Auditor Quality On Auditor Size And Performance”, International Business Research, Vol:6, No:11, (134-148).
  • Cheong, Pei. Ching- Teh, Boon Heng- Ong, Tze. San-Hong, Yong Hoe (2015), “The Relationship Among Audit Quality, Earnings Management, and Financial Performance Of Malaysian Public Listed Companies” International Journal of Economics and Management, Vol: 9, No:1, (211-229).
  • DeAngelo, Linda Elizabeth. (1981), “Auditors Size And Audit Quality”, Journal of Accounting and Economics, Vol:3, No: 3, (183-199).
  • Erhardt, Niclas L.- Werbel, James D.- Shrader, Charles B. (2003), “Board of Director Diversity and Firm Financial Performance”, Corporate Governance An International Review, Vol:1, No:2, (102-111).
  • Eshitemi, Peter Bulimo-Omwenga, Jane (2016), “Effect of Audit Quality on The Financial Performance Of Listed Parastatals In Nairobi Securities Exchange” Social Science and Humanities Journal, DOI: 10.1234.67/sshj.1015, (186-199).
  • Fargher, Neil L-Jiang, Liwei (2008), "Changes In The Audit Environment And Auditors’ Propensity to Issue Going-Concern Opinions", Auditing: a Journal of Practice & Theory, Vol:27, No: 2,
  • Fooladi, Masood, ve Shukor, Zaleha Abdul (2012), “Board Of Directors, Audit Quality And Firm Performance: Evidence From Malaysia” In National Research & Innovation Conference for Graduate Students in Social Sciences, December 7-9, ISBN 978 983 2408 086, (87-96).
  • Francis, Jere R. (2004), “What do we know about audit quality?”, British Accounting Review, Vol:36, (345-368). Fuerman, Ross D. (2006), “Comparing The Auditor Quality Of Arthur Andersen To That Of The Big 4”, Accounting and the Public Interest, Vol: 6, No:1, (135-161).
  • Gendron, Yves, Suddaby, Roy-Lam, Helen (2006), "An Examination of the Ethical Commitment of Professional Accountants to Auditor Independence", Journal of Business Ethics, Vol:64, No:1, DOI 10.1007/s10551-005-3095-7, (169-193).
  • Hansson, Jonas-Eriksson, Henrik (2002), “The Impact Of TQM On Financial Performance”, Measuring Business Excellence, Vol:6, No: 4, (44-54).
  • Hassan, Shehu Usman-Farouk, Musa Adeiza (2014), “Audit Quality And Financial Performance Of Quoted Cement Firms In Nigeria”, European Journal of Business and Management, Vol:6, No:28, (73-82).
  • Heil, Dion (2012), The Influence Of The Auditor On The Earnings Quality Of Their Clients, Masters Thesis Department of Accounting, Auditing and Control, Erasmus University, Rotterdam.
  • Ibrahim, Haslindar- Samad, Fazilah Abdul (2014), “Corporate Governance Mechanisms And Performance Of Public-Listed Family-Ownership In Malaysia”, International Journal of Economics and Finance, Vol: 3, No:1, (105-115).
  • ISB (2000), “A Conceptual Framework for Auditor Independence”, Independence Standards Board (DM 00-1). Jusoh, Mohd Abdullah and Ahmad, Ayoib Che (2014), "Equity Ownership, Audit Quality and Firm Performance in Malaysia using Generalized Least Square Estimations Technique”, Journal of Emerging Issues in Economics, Finance and Banking (JEIEFB) An Online International Monthly Journal, Vol: 3, No:1, (976-991).
  • Kyereboah-Coleman, Antony (2007), “Corporate Governance and Firm Performance in Africa: A Dynamic Panel Analysis”, International Conference on Corporate Governance in Emerging Markets, Global Corporate Governance Forum (GCGF) and Asian Institute of Corporate Governance (AICG), 15th-17th November, 2007, Sabancı University, Istanbul, Turkey.
  • Miettinen, J. (2011). The role of audit quality on the relationship between auditee’s agency problems and financial information quality. Paper presented at the Department of Accounting and Finance, University of Vaasa, Finland.
  • Miettinen, Johanna (2007), “Audit Quality and the Relationship between Auditee’s Agency Problems And Financial Information Quality: Research Proposal”, Department of Accounting and Finance University of Vaasa, 1-33.
  • Moutinho, Vânia- Cerqueira, Antonio-Brandao, Elisio (2012), “Audit Fees And Firm Performance”, November, Social Science Resarch Network, DOI: 10.2139/ssrn.2180020 (1-30).
  • Pathan, Shams- Faff, Robert (2013), “Does Board Structure in Banks Really Affect Their Performance?”, Journal of Banking & Finance, Vol: 37, No: 5, (1573-1589).
  • Sayyar, Hamed- Basiruddin, Rohaida, Rasid, Sidi Zaleha Abdul-Elhabib, Mohamed A. (2015), “The Impact Of Audit Quality On Firm Performance: Evidence From Malaysia”, International Business School, University Teknology Malaysia, June, (1-19),
  • Sim, Chia Hua- Daw, Tin Hla - Abu Hassan, Md Isa (2016), “Malaysia Financial Reporting Practices And Audit Quality Promote Financial Success :The Case Of Malaysian Construction Sector” UNIMAS Review of Accounting and Finance, Vol:1, No: 1, ISSN ISBN 978-1-85449-733-8.
  • Siong, Ken (2010), “Audit Quality: An IAASB Perspective”, International Auditing and Assurance Standards Board, Main Agenda Item 9-B, December, (1-9).
  • Sulong, Zunaidah- Fauzias, Mat Nor (2010), “Corporate Governance Mechanisms and Firm Aluation In Malaysian Listed Firms: A Panel Data Analysis”, Journal of Modern Accounting and Auditing, Vol:6, No:1, (1-18).
  • Sulong, Zunaidah- Gardner, John C.- Hussin, Amariah Hanum- Sanusi, Zuraidah Mohd- Mcgowan, Carl B., Jr. (2013), “Managerial Ownership, Leverage And Audit Quality Impact On Firm Performance: Evidence From The Malaysian ACE Market”, Accounting & Taxation, Vol:5, No:1, (59-70).
  • Uadile, Olayinka Marte (2010), “The Impact of Board Structure on Corporate Financial Performance in Nigeria”, International Journal of Business and Management, Vol:5, No:10, (155-166).
  • Watts, Ross L.- Zimmermen, Jerold L. (1986), “Positive Accounting Theory”, Engle wood Cliffs: Prentice Hall. Ziaee, Morteza (2014), “The Effect Of Audit Quality On The Performance Of Listed Companies In Tehran Stock Exchange”, International Letters of Social and Humanistic Sciences, Vol:21, (36-44).
  • Zureigat, Mohammad (2011), “The Effect Of Ownership Structure On Audit Quality: Evidence From Jordan”, June, International Journal Of Business And Social Science, Vol: 2, No: 10, (38-46).
Year 2017, Volume: 9 Issue: 19, 171 - 197, 30.06.2017
https://doi.org/10.20875/makusobed.323891

Abstract

References

  • Abdullah, Fahad- Shah, Attaullah- Khan, Safi Ullah (2012), “Firm Performance and The Nature Of Agency Pathan Problems İn Insiders-Controlled Firms: Evidence From Pakistan”, The Pakistan Development Review, Vol: 51, No: 4, (161-183).
  • Afza, Talat- Nazir, Mian Sajid (2014), “Audit Quality and Firm Value: A Case of Pakistan”, Research Journal of Applied Sciences, Engineering and Technology, Vol: 7, No:9, (1803-1810).
  • Al Ani, Mawih Kareem and Dhofar, Zaroug Mohamed (2015), “Audit Quality Firm Performance Quality: Omani Experience”, European Journal of Economies, Finance and Administrative Sciences, Vol:74, (13-23).
  • Aledvan, Baker A.- Yaseen, Ahmad A. Bani- Alkubisi, Abdulsttar (2015), “The Role Of Audit Quality On The Relationship Between Auditor’s And Financial Performance Quality Of Selected Cement Firm In Jordan”, International Journal of Business and Social Science, Vol:6, No:12, (138-146).
  • Ardiana, Putu Agus (2014), “The Role of External Audit in Improving Firm’s Value: Case of Indonesia”, December, 21, The 5th International Conference Of The Japanese Accounting Review, (1-15), http://www.rieb.kobe-u.ac.jp/tjar/conference/5th/CA-1_PutuAgusARDIANA.pdf, (18.09.2016).
  • Becker, Connie L.- Mark L. Defond- Jiambalvo, James- K.R. Subramanyam, (1998), “The Effect Of Audit Quality On Earnings Management”, Contemporary Accounting Research, Vol:15, No:1, (1-24).
  • Bouaziz, Zied (2012), “The Impact Of The Presence Of Audit Committees On The Financial Performance Of Tunisian Companies”, International Journal of Management & Business Studies, Vol: 2, No:4, (57- 64).
  • Canbaş, Serpil- Doğukanlı Hatice- Düzakın, Hatice-İskenderoğlu, Ömer (2005), “Performans Ölçümünde Tobin Q Oranının Kullanılması: Hisse Senetleri İMKB'de İşlem Gören Sanayi İşletmeleri Üzerinde Bir Deneme”, Muhasebe ve Finansman Dergisi, Sayı: 28, (24-36).
  • Çetenak, Emin Hüseyin (2012), İşletme Grubu İlişkisinin Firma Performansına Etkisi: İMKB’de Bir Uygulama, Doktora Tezi, Çukurova Üniversitesi, Sosyal Bilimler Enstitüsü, Adana.
  • Chan, Kam C., Farrell, Barbara, Healy, Patricia and Lee, Picheng (2011), “Firm Performance Following Auditor Changes For Audit Fee Savings”, Journal of Business & Economics Research, Vol: 7, No: 10, (17-26).
  • Chen, Yohn Shir- Hsu, Joseph- Huang, Mei Ting- Yang, Ping Sen (2013), “Quality, Size And Performance Of Audit Firms”, The International Journal of Business and Finance Research, Vol: 7, No: 5, (89-105).
  • Cheng, Yu Shu- Chen, Yahn Shir-Chen, Yu Cheng (2013), “Direct And Mediating Effects Of Auditor Quality On Auditor Size And Performance”, International Business Research, Vol:6, No:11, (134-148).
  • Cheong, Pei. Ching- Teh, Boon Heng- Ong, Tze. San-Hong, Yong Hoe (2015), “The Relationship Among Audit Quality, Earnings Management, and Financial Performance Of Malaysian Public Listed Companies” International Journal of Economics and Management, Vol: 9, No:1, (211-229).
  • DeAngelo, Linda Elizabeth. (1981), “Auditors Size And Audit Quality”, Journal of Accounting and Economics, Vol:3, No: 3, (183-199).
  • Erhardt, Niclas L.- Werbel, James D.- Shrader, Charles B. (2003), “Board of Director Diversity and Firm Financial Performance”, Corporate Governance An International Review, Vol:1, No:2, (102-111).
  • Eshitemi, Peter Bulimo-Omwenga, Jane (2016), “Effect of Audit Quality on The Financial Performance Of Listed Parastatals In Nairobi Securities Exchange” Social Science and Humanities Journal, DOI: 10.1234.67/sshj.1015, (186-199).
  • Fargher, Neil L-Jiang, Liwei (2008), "Changes In The Audit Environment And Auditors’ Propensity to Issue Going-Concern Opinions", Auditing: a Journal of Practice & Theory, Vol:27, No: 2,
  • Fooladi, Masood, ve Shukor, Zaleha Abdul (2012), “Board Of Directors, Audit Quality And Firm Performance: Evidence From Malaysia” In National Research & Innovation Conference for Graduate Students in Social Sciences, December 7-9, ISBN 978 983 2408 086, (87-96).
  • Francis, Jere R. (2004), “What do we know about audit quality?”, British Accounting Review, Vol:36, (345-368). Fuerman, Ross D. (2006), “Comparing The Auditor Quality Of Arthur Andersen To That Of The Big 4”, Accounting and the Public Interest, Vol: 6, No:1, (135-161).
  • Gendron, Yves, Suddaby, Roy-Lam, Helen (2006), "An Examination of the Ethical Commitment of Professional Accountants to Auditor Independence", Journal of Business Ethics, Vol:64, No:1, DOI 10.1007/s10551-005-3095-7, (169-193).
  • Hansson, Jonas-Eriksson, Henrik (2002), “The Impact Of TQM On Financial Performance”, Measuring Business Excellence, Vol:6, No: 4, (44-54).
  • Hassan, Shehu Usman-Farouk, Musa Adeiza (2014), “Audit Quality And Financial Performance Of Quoted Cement Firms In Nigeria”, European Journal of Business and Management, Vol:6, No:28, (73-82).
  • Heil, Dion (2012), The Influence Of The Auditor On The Earnings Quality Of Their Clients, Masters Thesis Department of Accounting, Auditing and Control, Erasmus University, Rotterdam.
  • Ibrahim, Haslindar- Samad, Fazilah Abdul (2014), “Corporate Governance Mechanisms And Performance Of Public-Listed Family-Ownership In Malaysia”, International Journal of Economics and Finance, Vol: 3, No:1, (105-115).
  • ISB (2000), “A Conceptual Framework for Auditor Independence”, Independence Standards Board (DM 00-1). Jusoh, Mohd Abdullah and Ahmad, Ayoib Che (2014), "Equity Ownership, Audit Quality and Firm Performance in Malaysia using Generalized Least Square Estimations Technique”, Journal of Emerging Issues in Economics, Finance and Banking (JEIEFB) An Online International Monthly Journal, Vol: 3, No:1, (976-991).
  • Kyereboah-Coleman, Antony (2007), “Corporate Governance and Firm Performance in Africa: A Dynamic Panel Analysis”, International Conference on Corporate Governance in Emerging Markets, Global Corporate Governance Forum (GCGF) and Asian Institute of Corporate Governance (AICG), 15th-17th November, 2007, Sabancı University, Istanbul, Turkey.
  • Miettinen, J. (2011). The role of audit quality on the relationship between auditee’s agency problems and financial information quality. Paper presented at the Department of Accounting and Finance, University of Vaasa, Finland.
  • Miettinen, Johanna (2007), “Audit Quality and the Relationship between Auditee’s Agency Problems And Financial Information Quality: Research Proposal”, Department of Accounting and Finance University of Vaasa, 1-33.
  • Moutinho, Vânia- Cerqueira, Antonio-Brandao, Elisio (2012), “Audit Fees And Firm Performance”, November, Social Science Resarch Network, DOI: 10.2139/ssrn.2180020 (1-30).
  • Pathan, Shams- Faff, Robert (2013), “Does Board Structure in Banks Really Affect Their Performance?”, Journal of Banking & Finance, Vol: 37, No: 5, (1573-1589).
  • Sayyar, Hamed- Basiruddin, Rohaida, Rasid, Sidi Zaleha Abdul-Elhabib, Mohamed A. (2015), “The Impact Of Audit Quality On Firm Performance: Evidence From Malaysia”, International Business School, University Teknology Malaysia, June, (1-19),
  • Sim, Chia Hua- Daw, Tin Hla - Abu Hassan, Md Isa (2016), “Malaysia Financial Reporting Practices And Audit Quality Promote Financial Success :The Case Of Malaysian Construction Sector” UNIMAS Review of Accounting and Finance, Vol:1, No: 1, ISSN ISBN 978-1-85449-733-8.
  • Siong, Ken (2010), “Audit Quality: An IAASB Perspective”, International Auditing and Assurance Standards Board, Main Agenda Item 9-B, December, (1-9).
  • Sulong, Zunaidah- Fauzias, Mat Nor (2010), “Corporate Governance Mechanisms and Firm Aluation In Malaysian Listed Firms: A Panel Data Analysis”, Journal of Modern Accounting and Auditing, Vol:6, No:1, (1-18).
  • Sulong, Zunaidah- Gardner, John C.- Hussin, Amariah Hanum- Sanusi, Zuraidah Mohd- Mcgowan, Carl B., Jr. (2013), “Managerial Ownership, Leverage And Audit Quality Impact On Firm Performance: Evidence From The Malaysian ACE Market”, Accounting & Taxation, Vol:5, No:1, (59-70).
  • Uadile, Olayinka Marte (2010), “The Impact of Board Structure on Corporate Financial Performance in Nigeria”, International Journal of Business and Management, Vol:5, No:10, (155-166).
  • Watts, Ross L.- Zimmermen, Jerold L. (1986), “Positive Accounting Theory”, Engle wood Cliffs: Prentice Hall. Ziaee, Morteza (2014), “The Effect Of Audit Quality On The Performance Of Listed Companies In Tehran Stock Exchange”, International Letters of Social and Humanistic Sciences, Vol:21, (36-44).
  • Zureigat, Mohammad (2011), “The Effect Of Ownership Structure On Audit Quality: Evidence From Jordan”, June, International Journal Of Business And Social Science, Vol: 2, No: 10, (38-46).
There are 38 citations in total.

Details

Journal Section Research Articles
Authors

Selim Cengiz This is me

Yusuf Dinç

Selim Güngör

Publication Date June 30, 2017
Submission Date June 28, 2017
Acceptance Date April 20, 2017
Published in Issue Year 2017 Volume: 9 Issue: 19

Cite

APA Cengiz, S., Dinç, Y., & Güngör, S. (2017). BAĞIMSIZ DENETİM KALİTESİNİN FİNANSAL PERFORMANS ÜZERİNDEKİ ETKİSİNİN İNCELENMESİ: BORSA İSTANBUL’DA BİR UYGULAMA. Mehmet Akif Ersoy Üniversitesi Sosyal Bilimler Enstitüsü Dergisi, 9(19), 171-197. https://doi.org/10.20875/makusobed.323891