BORSA İSTANBUL ŞİRKETLERİNDE UFRS ETKİSİ: FİNANSAL BİLGİNİN İHTİYACA UYGUNLUĞU

Abstract

Bu çalışmada, UFRS’nin Borsa İstanbul’da (BIST) işlem gören şirketlerin finansal tabloları aracılığı ile sundukları finansal bilginin ihtiyaca uygunluğu üzerindeki etkisi incelenmiştir. Bu bağlamda, UFRS öncesi (2000-2004) ve sonrası (2005-2010) dönemler için yapılan çalışmadan elde edilen sonuçlara göre, işletmelerin finansal tablolarında sunduğu finansal bilginin ihtiyaca uygunluğunda, UFRS’ye geçişten sonra anlamlı düzeyde bir artış meydana gelmiştir. Dolayısıyla, UFRS’den sonra ülkemizde yapısal bir kırılmanın gerçekleştiği ve UFRS’ye göre hazırlanan finansal tablolarda sunulan finansal bilginin piyasayı daha iyi yansıttığı sonucuna ulaşılmıştır.

Keywords

• UFRS,İhtiyaca Uygunluk,Finansal Tablolar,Finansal Bilgi

THE EFFECT OF IFRS ON THE FINANCIAL STATEMENTS OF COMPANIES TRADED ON BORSA ISTANBUL: THE VALUE RELEVANCE OF FINANCIAL INFORMATION

Abstract

In 2005, International Financial Reporting Standards (IFRS) is a revolutionary event for reporting value relevant, high quality financial information for the financial statement users especially the investors. In this study, the impact of IFRS on the value relevance of financial information for the listed companies on Borsa Istanbul (BIST) is examined. For this purpose,according to the results of this study conducted for pre-IFRS (2000-2004) and post-IFRS (2005-2010) periods, the value relevance of financial information increased after the adoption of IFRS for Turkish listed companies. The study concludes that, in Turkey a structural break came into existence with IFRS so as the financial information based on IFRS has a superior reflection of market value.

Keywords

• IFRS,Value Relevance,Financial Statements,Financial Information

References

1. Amir, E., T.S. Harris ve E.K. Venuti. 1993. “A Comparison of the Value-relevance of US versus Non-US GAAP Accounting Measures Using Form 20-F Reconciliations”, Journal of Accounting Research, 31, (Supplement).
2. Athanasios, B., T. Kanellos ve P. Konstantinos. 2007. “The Consequences of Applying International Accounting Standards (IAS) to the Financial Statements of Greek Companies”, 30th Annual Congress of European Accounting Association, Lisbon-Portugal.
3. Ball, R. ve P. Brown. 1968. “An Empirical Evaluation of Accounting Income Numbers”, Journal of Accounting Research, 6(2).
4. Barth, M.E. 2000. “Valuation-based Accounting Research:Implications for Financial Reporting and Opportunities for Future Research”, Accounting and Finance, 40.
5. Barth, M.E., W.R. Landsman ve M.H. Lang. 2008. “International Accounting Standards and Accounting Quality”, Journal of Accounting Research, 46(3).
6. Beaver, W.H. 1968. “The Information Content of Annual Earnings Announcements”, Journal of Accounting Research.
7. Bushman, R.M. ve A.J. Smith. 2001. “Financial Accounting Information and Corporate Governance”, Journal of Accounting and Economics, 32.
8. Callao, S., J. Jarne ve J. Lainez. 2007. “Adoption of IFRS in Spain: Effect on the Comparability and Relevance of Financial Reporting”, Journal of International Accounting, Auditing and Taxation, 16.

9. Capkun, V., A.C. Jenny, T. Jeanjean ve L.A. Weiss. 2008. “Earnings Management and Value Relevance during the Mandatory Transition from Local GAAPs to IFRS in Europe”, Working Paper, HEC, ESSEC and Georgetown University.
10. Clarkson P., J.D. Hanna, G.D. Richardson ve R. Thompson. 2011. “The Impact of IFRS Adoption on the Value Relevance of Book Value and Earnings”, Journal of Contemporary Accounting & Economics, 7.
11. Devalle A., E. Onali ve R. Magarini. 2010. “Assessing the Value Relevance of Accounting Data After the Introduction of IFRS in Europe”, Journal of International Financial Management and Accounting, 21.
12. Easton, P. D. ve T. S. Harris. 1991. “Earnings as an Explanatory Variable for Returns”, Journal of Accounting Research, 29(1).
13. Gaston S.C., C.F. Garcia, J.I. Jarne ve J.A.L. Gadea. 2010. “IFRS Adoption in Spain and the United Kingdom: Effects on Accounting Numbers and Relevance”, Advances in Accounting, Incorporating Advances in International Accounting.
14. Hellstrom, K. 2006. “The Value Relevance of Financial Accounting Information in a Transition Economy: The Case of the Czech Republic”, European Accounting Review, 15(3).
15. Hung, M. ve K.R. Subramanyam. 2007. “Financial Statement Effects of Adopting International Accounting Standards: The Case of Germany”, Review of Accounting Studies, 12(4).
16. Iatridis, G. 2010. “IFRS Adoption and Financial Statement Effect: The UK Case”, International Research Journal of Finance and Economics, 38.
17. Iatridis, G. ve S. Rouvolis. 2010. “The Post-Adoption Effects of the Implementation of International Financial Reporting Standards in Greece”, Journal of International Accounting, Auditing and Taxation, 19.
18. Kargın, S. 2013. “The Impact of IFRS on the Value Relevance of Accounting Information: Evidence from Turkish Firms”, International Journal of Economics and Finance, 5(4).
19. Karunarathne, W.V.A.D. ve R.M.D.A.P. Rajapakse. 2010. “The Value Relevance of Financial Statements’ Information: with special reference to the listed Companies in Colombo Stock Exchange”, ICBI 2010 - University of Kelaniya, Sri Lanka.
20. Kothari, S. P. ve J. L. Zimmerman. 1995. “Price and return models”, Journal of Accounting and Economics, 20(2).
21. Ohlson J.A. 1995. “Earnings, Book Values, and Dividends in Equity Valuation”, Contemporary Accounting Research, 11.
22. Schiebel, A. 2006 ve 2007. “Value Relevance of German GAAP and IFRS Consolidated Financial Reporting: An Empirical Analysis on the Frankfurt Stock Exchange”, Working paper.
23. Stergious A., V. Athanasios ve D.Nikolaos. 2007. “Financial Statement Effects of Adopting International Accounting Standards: The Case of Greece”.
24. Suadiye, G. 2012. “Value Relevance of Book Value & Earnings Under the Local GAAP and IFRS: Evidence from Turkey”, Ege Akademik Bakış, 12(3).
25. Türel, A. 2009. “The Value Relevance of IFRS: The Case of Turkey”, Finance and Banking, Economica.
26. Türker, İ. 2009. Türkiye’de UFRS Paralelinde Yapılan Düzenlemelerin Finansal Tablo Kullancıları Üzerindeki Muhtemel Etkileri. Doktora Tezi. İstanbul Üniversitesi: 26.