Entegre Raporlamanın Halka Açık Bankaların Hisse Senedi Fiyatları Üzerine Etkisi: Borsa İstanbul’da Bir Uygulama

Year 2024, Volume: 27 Issue: 2, 588 - 596, 29.11.2024

Tolga Tümer , Ali Rıza Zafer Sayar

https://doi.org/10.29249/selcuksbmyd.1523703

Abstract

Finansal olmayan bilgiler, günümüzde işletmelerin paydaşları tarafından yüksek talep görmektedir. Muhasebe bilimi, entegre raporlama aracılığıyla finansal olmayan bilgilerin, finansal bilgilerle birlikte işletmelerin paydaşlarına iletişimini sağlamaya başlamıştır. İşletmelere değer katması beklenen entegre raporlama olgusu Türkiye'de yeni gelişmektedir ve halka açık bankalar entegre raporlamanın öncüleri arasındadır. Bu çalışmada entegre rapor hazırlamanın ve yayımlanmış entegre raporların Türkiye'deki halka açık bankaların hisse senedi fiyatları ve hisse başı kazançları üzerindeki etkisi En Küçük Kareler (EKK) tahmincisi ile ampirik olarak araştırılmıştır. Araştırmanın bulguları, entegre rapor hazırlamanın; halka açık bankaların hisse başı kazançları üzerinde olumlu bir etkiye sahip olduğunu, ancak hisse senedi fiyatları üzerinde olumlu bir etkiye sahip olmadığını göstermektedir. Diğer yandan çalışmada, yayımlanmış entegre raporların halka açık bankaların hisse senedi fiyatları ve hisse başı kazançları üzerinde olumlu bir etkisinin olmadığı belirlenmiştir. Sonuç olarak, araştırma bulgularına göre; entegre raporlama Türkiye'deki halka açık bankalara sınırlı da olsa değer katmaktadır, ancak borsa yatırımcılarının finansal okuryazarlığının artması gerekmektedir.

Keywords

Entegre Raporlama, Bankacılık Sektörü, Hisse Senedi Fiyatları, Hisse Başı Kazanç, Borsa İstanbul (BİST)

The Effect of Integrated Reporting on the Stock Prices of Publicly Held Banks: An Application in Borsa Istanbul

Abstract

Today, non-financial information is highly sought-after by stakeholders of businesses. Accordingly, the accounting science had started communicating non-financial information together with financial information to stakeholders of businesses with the emergence of integrated reporting. The phenomena of integrated reporting, which is expected to add value to businesses, is still rather new in Türkiye and the publicly held banks are among the pioneers of integrated reporting. In this paper, we utilized the Ordinary Least Squares (OLS) estimator to test the effect of preparing integrated reports and the effect of published integrated reports on the stock prices and earnings per share of publicly held banks in Türkiye. The results of our analyses showed that preparing integrated reports has a positive impact on the earnings per share of publicly held banks, but not on their stock prices. Moreover, we found that published integrated reports have a positive impact neither on the earnings per share nor on the stock prices of publicly held banks. In conclusion, our findings suggest that integrated reporting does add value to publicly held banks in Türkiye, but the financial literacy of stock market investors must increase.

Keywords

Integrated Reporting, Banking Industry, Stock Prices, Earnings per Share, Borsa Istanbul (BIST)

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