Unveiling the Effects of Key Audit Matters on Stock Market Indicators: The Effectiveness of PCA and Curvilinear Regression

Abstract

This study examines the effects of key audit matters on the stock market performance of 95 companies traded on Borsa Istanbul. Key audit matters such as Tangible Fixed Assets, Intangible Fixed Assets, Inventories, Revenue, Trade Receivables, Trade Payables and Cash are associated with the price-earnings ratio, market value/book value ratio and earnings per share. Due to the high correlation between key audit matters, dimensionality reduction has been performed using PCA. As a result of linear and curvilinear regression analyses, it has been determined that the curvilinear model provided higher accuracy and fit with lower MSE and MAE values and significant p-values.

Keywords

• Key Audit Matters
• Dimensionality Reduction
• Regression Models

Kilit Denetim Konularının Borsa Göstergeleri Üzerindeki Etkilerinin Ortaya Çıkarılması: PCA ve Eğrisel Regresyonun Etkinliği

Abstract

Bu çalışma, Borsa İstanbul’da işlem gören 95 şirketin kilit denetim konularının borsa performansı üzerindeki etkilerini incelemektedir. Maddi Duran Varlıklar, Maddi Olmayan Duran Varlıklar, Stoklar, Hasılat, Ticari Alacaklar, Ticari Borçlar ve Nakit gibi kilit denetim konuları, fiyat kazanç oranı, piyasa değeri/defter değeri oranı ve hisse başına kazanç ile ilişkilendirilmiştir. Kilit denetim konuları arasındaki yüksek korelasyon nedeniyle PCA ile boyut azaltımı yapılmıştır. Doğrusal ve eğrisel regresyon analizleri sonucunda, eğrisel modelin daha düşük MSE ve MAE değerleri ve anlamlı p-değerleri ile daha yüksek doğruluk ve uyum sağladığı tespit edilmiştir.

Keywords

• Kilit Denetim Konuları
• Boyutsallık Azaltma
• Regresyon Modelleri

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