DENETİM KOMİTESİ VE FİRMA DEĞERİ: AMPİRİK BİR ARAŞTIRMA

Öz

Bu çalışmanın amacı, denetim komitesinin firma değeri üzerindeki etkilerini araştırmaktır. 2011-2019 yılları arasında Borsa İstanbul'da işlem gören imalat sanayinde faaliyet gösteren 141 firmaya ait veriler kullanılmıştır. Panel veri analizinin sonuçlarına göre, denetim komitesi üyelerinin muhasebe ve finans uzmanlığı, denetim komitesi büyüklüğü ve denetim komitesi toplantılarının sıklığı firma değerini olumlu yönde etkilemektedir. Bu çalışma, Borsa İstanbul'da işlem gören imalat sanayinde faaliyet gösteren firmalarının değerinin, denetim komitesi özelliklerinden önemli ölçüde etkilendiğini göstermektedir. Gelişmekte olan ekonomiler bağlamında, bu çalışma firma değeri ile denetim komitesi arasındaki ilişki hakkında yeni perspektifler sunmaktadır. Analizin sonuçları düzenleyici kurumlar, kreditörler ve yatırımcılar için de önemli çıkarımlar sağlamaktadır.

Anahtar Kelimeler

• Denetim Komitesi
• Firma Değeri
• Vekalet Teorisi

AUDIT COMMITTEE AND FIRM VALUE: AN EMPIRICAL INVESTIGATION

Öz

The objective of this paper is to analyze the impacts of audit committee on firm value. Employing panel data on a sample that consists of 141 manufacturing firms whose shares are traded on Borsa Istanbul during the period between 2011 and 2019, this paper found that the inclusion of audit committee members with accounting and finance background, audit committee size and the number of audit committee meetings positively influence firm value. This paper demonstrates that the value of manufacturing firms listed on Borsa Istanbul is significantly affected by audit committee characteristics. In the context of emerging economies, this paper offers new perspectives on the association between firm value and audit committee. The results of empirical analysis also provide important implications for policymakers, creditors and shareholders.

Anahtar Kelimeler

• Audit Committee
• Firm Value
• Agency Theory

Kaynakça

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