TÜRKİYE’DE ÖZEL VE KAMU SERMAYELİ BANKALARIN ENTEGRE RAPOR KALİTELERİNİN KARŞILAŞTIRMALI ANALİZİ

Abstract

Bu çalışmanın amacı, Türkiye’de 2020-2022 yılları arasında faaliyet gösteren özel ve kamu sermayeli bankaların entegre rapor kalitelerinin karşılaştırılmasıdır. Çalışmada, beş özel ve dört kamu sermayeli bankanın, entegre raporlarının, entegre rapor kalite puanları, Cooray ve diğerleri (2020) tarafından geliştirilen “Entegre Rapor Kalitesi Endeksi” kullanılarak belirlenmiştir. Bankaların raporlama kaliteleri, TOPSIS yöntemi kullanılarak analiz edilmiştir. Daha sonra özel ve kamu sermayeli bankaların entegre raporlama puanları, Mann-Withney U testi kullanılarak karşılaştırılmıştır. Çalışmanın sonuçlarına göre, özel ve kamu sermayeli bankaların entegre raporlama kaliteleri arasında anlamlı bir fark olduğu ve özel bankalara ait entegre raporların, kamu bankalarına göre daha yüksek raporlama kalitesine sahip oldukları tespit edilmiştir.

Keywords

• Entegre Raporlama
• Entegre Raporlama Kalitesi
• Özel ve Kamu Sermayeli Bankalar
• TOPSIS

COMPARATIVE ANALYSIS OF INTEGRATED REPORTING QUALITY OF PRIVATE AND PUBLIC BANKS IN TURKIYE

Abstract

The aim of this study is to compare the quality of integrated reports of private and public banks operating in Turkiye between 2020 and 2022. The integrated reporting quality scores of five private and four public bankswere measured by the “Integrated Reporting Quality Index” developed by Cooray et al. (2020) and were analyzed using the TOPSIS method. Then, the scores of private and public banks were compared using the Mann- Whitney U test. The results show that the integrated reports of private banks have a significantly higher reporting quality than those of public banks.

Keywords

• Integrated Reporting
• Integrated Reporting Quality
• Private and Public Banks
• TOPSIS

References

1. Ackers, B., & Adeboya, A. (2022). The adoption of integrated reporting by state-owned enterprises (SOEs) – an international comparison. Social Responsibility Journal, 18(8), 1587-1612. https://doi.org/10.1108/SRJ-05-2021-0194
2. Adegboyegun, A. E., Alade, M. E., Ben-Caleb, E., Ademola, A. O., Eluyela, D. F., & Oladipo, O. A. (2020). Integrated reporting and corporate performance in Nigeria: Evidence from the banking industry. Cogent Business & Management, 7(1). https://doi.org/10.1080/23311975.2020.1736866
3. Aziz, A. (2015). Sosyal bilimlerde araştırma ve yöntem teknikleri. Ankara: Nobel Akademik Yayıncılık Eğitim Danışmanlık.
4. Barth M. E., Cahan, S.F., Chen, L., & Venter E. R. (2017). The economic consequences associated with integrated report quality: Capital market and real effects. Accounting, Organizations and Society, 62, 43-64. http://dx.doi.org/10.1016/j.aos.2017.08.005
5. Bebbington, J., & Thomson, I. (2013). Sustainable development, management, and accounting: boundary crossing. Management Accounting Research, 24(4), 277-318. http://dx.doi.org/10.1016/j.mar.2013.09.002
6. Brown, N., & Deegan, C. (1998). The public disclosure of environmental performance information-a dual test of media agenda setting theory and legitimacy theory. Accounting and Business Research, 29(1), 21-41. https://doi.org/10.1080/00014788.1998.9729564
7. Caruana, J., & Grech, I. (2019). Tweaking public sector reporting with integrated reporting (IR) concepts. Public Money & Management, 39(6), 409-417. https://doi.org/10.1080/09540962.2019.1583911
8. Chouaibi, S., Chouaibi, Y., & Zouari, G. (2022). Board characteristics and integrated reporting quality: evidence from ESG European Company. EuroMed Journal of Business, 17(4), 425-447. https://doi.org/10.1108/EMJB-11-2020-0121

9. Cooray, T., Gunarathne, A. D. N., & Senaratne, S. (2020). Does corporate governance affect the quallity of integrated reporting? Sustainability, 12(4262), 1-30. https://doi.org/10.3390/su12104262
10. Conway, E. (2019). Quantitative impacts of mandatory integrated reporting. Journal of Financial Reporting and Accounting, 17(4), 604-634. https://doi.org/10.1108/JFRA-08-2018-0066
11. Crous, C., Battisti, E., & Leonidou, E. (2022). Non-financial reporting and company financial performance: a systematic literature review and integrated framework. EuroMed Journal of Business, 17(4), 652-676.
12. Deegan, C. (2002). Introduction-the legitimising effect of social and enviromental disclosures-a theoretical foundation. Accounting, Auditing and Accountability Journal, 15(3), 282-311.
13. Demsetz, H., & Lehn, K. (1985). The structure of corporate ownership: Causes and consequences. The Journal of Political Economy, 93(6). http://www.jstor.org/stable/1833178
14. Donaldson, T., & Preston, L. E. (1995). The stakeholder theory of the corporation: Concepts, evidence, and implications. Academy of Management Review, 20(1), 65-91. https://doi.org/10.2307/258887
15. Doni, F., Larsen, M., Martini, S. B., & Corvino, A. (2019). Exploring integrated reporting in the banking industry: the multiple capitals approach. Journal of Intellectual Capital, 20(1), 165-188. https://doi.org/10.1108/JIC-11-2017-0146
16. Eccles, R. G., Krzus, M. P., & Tapscott, D. (2010). One report ıntegrated reporting for sustainable strategy. New Jersey: John Wiley & Sons, Inc.
17. Eisenhardt, K. M. (1989). Agency theory: An assessment and review. Academy of Management Review, 14(1), 57-74. https://doi.org/10.2307/258191
18. Emir, S., Aracı, Ö. N. K., & Kıymık, H. (2021). Entegre Raporlama anlayışının Camels Analı̇zı̇ ile fı̇nansal performans üzerı̇ndekı̇ etkı̇sı̇nı̇n değerlendı̇rı̇lmesı̇: Bankacılık sektöründe bı̇r uygulama. Muhasebe ve Denetime Bakış, 20(62), 259-284. https://dergipark.org.tr/tr/download/article- file/1228526
19. Erin, O., & Adegboye, A. (2022). Do corporate attributes impact integrated reporting quality? An empirical evidence. Journal of Financial Reporting and Accounting, 20(3/4), 416-445. https://doi.org/10.1108/JFRA-04-2020-0117
20. Freeman, R. E. (1984). Strategic management: A stakeholder approach. Pitman.
21. Garegnani, G. M., Merlotti, E. P., & Russo, A. (2015). Scoring firms' codes of ethics: An explorative study of quality drivers. Journal of Business Ethics, 126(4), 541-557. https://www.jstor.org/stable/24702768
22. Gerwansk4, J., Kordsach4a O., & Velte, P. (2019). Determ4nants of mater4al4ty d4sclosure qual4ty 4n ıntegrated report4ng: Emp4r4cal ev4dence from an 4nternat4onal sett4ng. Bus_ness Strategy and The Env_ronment, 28, 750–770. https://do4.org/10.1002/bse.2278
23. Gökoğlu, H. H., & Tutkavul, K. (2022). Özel ve kamu sermayel4 bankaların yayımladıkları entegre raporların sermaye öğeler4 bazında karşılaştırmalı olarak 4ncelenmes4. Muhasebe B_l_m Dünyası Derg_s_, 24(1), 199-233. https://do4.org/10.31460/mbdd.908407.
24. Gray, R., Owen, D., & Adams, C. (1996). Account_ng and accountab_l_ty: Changes and challenges _n corporate soc_al and env_ronmental report_ng. Prent4ce Hall.
25. Iacuzz4, S., Garlatt4, A., Fedele, P., & Lombrano, A. (2020). Integrated report4ng and change: ev4dence from publ4c un4vers4t4es. Journal of Publ_c Budget_ng, Account_ng & F_nanc_al Management, 32(2), 291- 310. https://do4.org/10.1108/JPBAFM-08-2019-0120
26. IIRC. (2013). Uluslararası entegre raporlama çerçevesi. http:// integratedreporting.org/wp‐ content/uploads/2013/12/13‐12‐08‐THE‐ INTERNATIONAL‐IR‐FRAMEWORK‐2‐1.pdf
27. Irelede, O. O. (2019). Exam4n4ng the assoc4at4on between qual4ty of 4ntegrated reports and corporate character4st4cs. Hel_yon, 5, 1-8. https://do4.org/10.1016/j.hel4yon.2019.e01932
28. Islam, M. S. (2021). Invest4gat4ng the relat4onsh4p between 4ntegrated report4ng and f4rm performance 4n a voluntary d4sclosure reg4me: 4ns4ghts from Bangladesh. As_an Journal of Account_ng Research, 6(2), 228-245. https://do4.org/10.1108/AJAR-06-2020-0039
29. Jensen, M. C. (1994). Self‐4nterest, altru4sm, 4ncent4ves, and agency theory. Journal of Appl_ed Corporate F_nance, 7(2), 40-45. https://do4.org/10.1111/j.1745-6622.1994.tb00404.x
30. Jensen, M. C., & Meckl4ng, W. H. (1976). Theory of the f4rm: Manager4al behav4or, agency costs, and ownersh4p structure. Journal of F_nanc_al Econom_cs, 3(4), 305-360. https://do4.org/10.1016/0304- 405X(76)90026-X
31. Karad4m4tr4ou, S. M., & Marshall E. (2024). Mann Wh4tney U Test. Sheff_eld Hallam Un_vers_ty Mathemat_cs and Stat_st_cs Support. 1, 1–4.
32. Karataş, Z. (2015). Sosyal b4l4mlerde n4tel araştırma yöntemler4. Manev_ Temell_ Sosyal H_zmet Araştırmaları Derg_s_, 1(1), 62-80. https://s4lo.t4ps/download/manev-temell-sosyal- hzmet#google_v4gnette
33. Kevser, M. (2020). Entegre raporlama ve kamu bankalarında uygulanab4l4rl4ğ4 üzer4ne karşılaştırmalı b4r araştırma. İşletme Araştırmaları Derg_s_, 12(4), 4231-4251. https://do4.org/10.20491/4sarder.2020.1102
34. Koçel, T. (2020). İşletme yönet_c_l_ğ_ (18. Baskı). İstanbul.
35. Lee, K. W., & Yeo, G. H. H. (2016). The assoc4at4on between 4ntegrated report4ng and f4rm valuat4on. Rev_ew of Quant_tat_ve F_nance and Account_ng, 47, 1221-1250. https://do4.org/10.1007/s11156- 015-0536-y
36. L4efner, I. (2003). Fund4ng resource allocat4on, and performance 4n h4gher educat4on systems. H_gher Educat_on, 46(4), 477. https://do4.org/10.1023/A:1027381906977
37. Lodh4a, S. (2015). Explor4ng the trans4t4on to 4ntegrated report4ng through a pract4ce lens: An Austral4an customer owned bank perspect4ve. Journal of Bus_ness Et_cs, 129, 585-598. https://do4.org/10.1007/s10551-014-2194-8
38. Malola, A., & Maroun, W. (2019). The measurement and potent4al dr4vers of 4ntegrated report qual4ty: Ev4dence from a p4oneer 4n 4ntegrated report4ng. South Afr_can Journal of Account_ng Research, 33(2), 114-144. https://do4.org/10.1080/10291954.2019.1647937
39. Mansor, N., Mahmud, R., Hal4d, S., & Rahman, R. A. (2021). Integrated report4ng and env4ronmental, soc4al and governance: A study on Malays4an bank4ng sector. Internat_onal Journal of Academ_c Research _n Account_ng F_nance and Management Sc_ences, 11(3), 644-660. http://creat4vecommons.org/l4cences/by/4.0/legalcode
40. Mellon4, G., Cagl4o, A., & Perego, P. (2017). Say4ng more w4th less? D4sclosure conc4seness, completeness and balance 4n Integrated Reports. Journal of Account_ng and Publ_c Pol_cy, 36(3), 220-238. https://do4.org/10.1016/j.jaccpubpol.2017.03.001
41. Mervelskemper, L., & Stre4t, D. (2017). Enhanc4ng market valuat4on of ESG performance: 4s 4ntegrated report4ng keep4ng 4ts prom4se? Bus_ness Strategy and the Env_ronment, 26(4), 536-549. https://do4.org/10.1002/bse.1935
42. M4nut4ello, V., & Tettamanz4, P. (2022). The qual4ty of nonf4nanc4al voluntary d4sclosure: A systemat4c l4terature network analys4s on susta4nab4l4ty report4ng and 4ntegrated report4ng. Corporate Soc_al Respons_b_l_ty and Env_ronmental Management. 29(1), 1–18. https://do4.org/10.1002/csr.2195
43. M4tchell, R. K., Agle, B. R., & Wood, D. J. (1997). Toward a theory of stakeholder 4dent4f4cat4on and sal4ence: Def4n4ng the pr4nc4ple of who and what really counts. Academy of Management Rev_ew, 22(4), 853-886.
44. Muttak4n, M. B., M4hret, D., Lemma, T. T., & Khan, A. (2020). Integrated report4ng, f4nanc4al report4ng qual4ty and cost of debt. Internat_onal Journal of Account_ng & Informat_on Management, 28(3), 517-534. https://do4.org/10.1108/IJAIM-10-2019-0124
45. Onder, E., & Dag, S. (2013). Comb4n4ng Analyt4cal H4erarchy Process and Tops4s Approaches for suppl4er select4on 4n a cable company. Journal of Bus_ness, Econom_cs & F_nance, 2(2), 56-74. https://derg4park.org.tr/en/download/art4cle-f4le/374596
46. Pavlopoulos, A., Magn4s, C., & Iatr4d4s, G. E. (2019). Integrated report4ng: An account4ng d4sclosure tool for h4gh qual4ty f4nanc4al report4ng. Research _n Internat_onal Bus_ness and F_nance, 49, 13- 40. https://do4.org/10.1016/j.r4baf.2019.02.007
47. Permatasar4, I., & Tjahjad4, B. (2023). A closer look at 4ntegrated report4ng qual4ty: A systemat4c rev4ew and agenda of future research. Med_tar_ Accountancy Research, 32(3), 661-692. https://do4.org/10.1108/MEDAR-08-2022-1782
48. P4ston4, A., Song4n4, L., & Bavagnol4, F. (2018). Integrated report4ng qual4ty: An emp4r4cal analys4s. Corporate Soc_al Respons_b_l_ty and Env_ronmental Management, 25(4), 489-507. https://do4.org/10.1002/csr.1474
49. Sm4th, S. S. (2015). Account4ng, governance and stakeholder report4ng, and econom4c. Journal of Appl_ed Bus_ness and Econom_cs, 76-80.
50. Sof4an, I., & Dum4tru, M. (2017). The compl4ance of the 4ntegrated reports 4ssued by European f4nanc4al compan4es w4th the 4nternat4onal 4ntegrated report4ng framework. Susta_nab_l_ty. 9(8), 13-19. https://do4.org/10.3390/su9081319
51. Song4n4, L., P4ston4, A., Tettamanz4, P., Frat4n4, F., & M4nut4ello, V. (2022). Integrated report4ng qual4ty and BoD character4st4cs: an emp4r4cal analys4s. J Manag Gov, 26, 579-620. https://do4.org/10.1007/s10997-021-09568-8
52. Spence, L., & R4nald4, L. (2014). Governmental4ty 4n account4ng and accountab4l4ty: A case of embedd4ng susta4nab4l4ty 4n a supply cha4n. Account_ng, Organ_sat_on and Soc_ety, 39(6), 433-453.
53. Suchman, M. C. (1995). Manag4ng leg4t4macy: Strateg4c and 4nst4tut4onal approaches. Academy of Management Rev_ew, 20(3), 571-610. https://do4.org/10.5465/amr.1995.9508080331
54. Uluslararası Entegre Raporlama Konsey4 (IIRC) (2013). Uluslararası çerçeves4, http://4ntegratedreport4ng.org/resource/4nternat4onal-4r-framework
55. W4lson, M. (2003). Corporate Susta4nab4l4ty: What ı̇s ı̇t and where does 4t come from? Ivey Bus_ness Journal, https://4veybus4nessjournal.com/4bj_4ssue/march-apr4l-2003/
56. Velte, P. (2022). Arch4val research on 4ntegrated report4ng: a systemat4c rev4ew of ma4n dr4vers and the 4mpact of 4ntegrated report4ng on f4rm value. Journal of Management and Governance, 26(3), 997- 1061. https://do4.org/10.1007/s10997-021-09582-w
57. V4tolla F, Ra4mo N., & Rub4no M. (2020). Board character4st4cs and 4ntegrated report4ng qual4ty: an agency theory perspect4ve. Corp Soc Resp Env Ma, 27, 1152–1163. https://do4.org/10.1002/csr.1879
58. V4tolla F, Ra4mo N, Rub4no M., & Garzon4, A. (2019a). The determ4nants of 4ntegrated report4ng qual4ty 4n f4nanc4al 4nst4tut4ons. Corporate Governance, 20(3): 429–444. https://do4.org/10.1108/CG-07- 2019-0202
59. Vitolla, F., Salvi, A., Raimo, N., Petruzzella F., & Rubino, M. (2019b). The impact on the cost of equity capital in the effects of integrated reporting quality. Business Strategy and The Environment, 29, 519–529. https://doi.org/10.1002/bse.2384
60. Vitolla, F., Raimo, N., Rubino, M., & Garzoni, A. (2019c). The impact of national culture on integrated reporting quality: A stakeholder theory approach. Business Strategy and the Environment, 28(8), 1558-1571. https://doi.org/10.1002/bse.2332
61. Velte, P., & Stawinoga, M. (2017). Integrated reporting: The current state of empirical research, limitations and future research implications. Journal of Management Control, 28, 275-320. https://doi.org/10.1007/s00187-016-0235-4
62. Yücenurşen, M. (2022). Türkiye’de yayınlanan entegre raporların kalitesi ve firma değeri ilişkisi. KMÜ Sosyal ve Ekonomik Araştırmalar Dergisi, 23(41), 343-358.