26.KAZANÇ, NAKİT AKIMI VE TAHAKKUKLARIN SÜREĞENLİĞİ: BORSA İSTANBUL ÜZERİNE BİR ARAŞTIRMA

Yıl 2015, Sayı: 43, 0 - 0, 20.06.2015

Nasıf Özkan M. Mesut Kayalı

Öz

The purpose of the study is to examine the persistence of earnings in Turkey and whether earnings persistence is more attributable to cash flow or accrual component of earnings. In accordance with this purpose, the persistence of earnings and its components of 158 firms traded in Borsa Istanbul between the years of 2005-2010 are tested using panel data analysis methodology. The results of the study indicate that earnings are persistent in Borsa Istanbul. Moreover, the total accrual component of earnings has a weak effect on the persistence of earnings in comparison with the cash flow component of earnings. This is mainly due to abnormal accrual component of earnings

Anahtar Kelimeler

Earnings, Earnings Persistence, Cash Flows, Accruals

26.KAZANÇ, NAKİT AKIMI VE TAHAKKUKLARIN SÜREĞENLİĞİ: BORSA İSTANBUL ÜZERİNE BİR ARAŞTIRMA

Öz

Çalışmanın amacı, Türk şirketlerinin kazançlarının süreğenliğini ve bu süreğenliğin, kazancın nakit akımı ya da tahakkuk bileşenlerinin hangisinden daha çok etkilendiğini incelemektir. Bu amaç doğrultusunda, Borsa İstanbul’da 2005-2010 yılları arasında işlem gören 158 şirketin kazanç ve bileşenlerinin süreğenliği panel veri analizi metodolojisi ile test edilmektedir. Çalışmanın ampirik bulguları, Borsa İstanbul’da kazançların süreğen olduğunu göstermektedir. Ancak kazancın süreğenlik katsayısı gelişmiş ülke şirketleriyle karşılaştırıldığında daha düşüktür. Ampirik bulgular, gelişmiş ülke piyasalarında yapılan araştırmalarla uyumlu olarak kazanç performansının süreğenliğinin kazancın toplam tahakkuk bileşeninden çok, kazancın nakit akımı bileşeninden etkilendiğini ortaya koymaktadır. Ayrıca ampirik bulgular, toplam tahakkukların nakit akımlarına göre düşük süreğenlik göstermesinin anormal tahakkuklardan kaynaklandığını işaret etmektedir

Anahtar Kelimeler

Kazanç, Kazançların Süreğenliği, Nakit Akımı, Tahakkuklar

Kaynakça

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