Araştırma Makalesi
BibTex RIS Kaynak Göster

EXAMINING THE RELATIONSHIP BETWEEN THE TRANSPARENCY SCORES IN BANKING AND FINANCIAL PERFORMANCE INDICATORS

Yıl 2015, Cilt: 17 Sayı: 2, 305 - 330, 30.06.2015

Öz

The purpose of this study is to examine the relationship between the transparency scores of banks and financial performance indicators. This study covers 10 banks which are listed in BIST for the period of 2005-2013. The data is analyzed by using panel data analysis. The transparency scores of banks are divided into three categories: transparency scores for ownership structure, transparency scores of financial transparency, transparency scores for board and management structure. According to the findings it is determined that
transparency scores of financial transparency and transparency scores for board have negative relationship with the Tobin’s q. Similarly, transparency scores for ownership structure and transparency scores for management structure have negative relationship with the accounting-based performance indicators; return on assets and return on equity.

Kaynakça

  • Abreu, M. and M. Victor. 2001. Commercial Bank Interest Margins and Profitability: Evidence for Some EU Countries, http://pascal.iseg.utl.pt/~cief/uk/conf/session2_CIEF2.pdf (Erişim Tarihi: 05.06.2013).
  • Acar, D. ve M. Mortaş. 2011. “İşletmelerin Hesap Verebilirlikleri İle Performans Oranları İlişkisi: İMKB-30 Endeksinde Yer Alan İşletmeler Üzerine Bir Araştırma”, KMÜ Sosyal ve Ekonomik Araştırmalar Dergisi, 13 (21).
  • Aksu, M. ve A. Kösedağ. 2005. İstanbul Menkul Kıymetler Borsası Şirketlerinin Şeffaflık ve Kamuyu Bilgilendirme Bakımından Derecelendirilmesi, http://research.sabanciuniv.edu/1284/ (Erişim Tarihi: 10.05.2014).
  • Al-Modahki, J. S. 1996. An Empirical Study of Accounting Transparency Development in the Kingdom of Saudi Arabia, Hull University Unpublished PhD. Thesis.
  • Alsaeed, K. 2006. “The Association Between Firm Specific Characteristics and Disclosure: The Case of Suudi Arabia”, Managerial Auditing Journal,21(5).
  • Ashbaugh, S.H., D.W. Collins ve R. Lafond. 2004. Corporate Governance and the Cost of Equit Capital.https://Tippie.Uiowa.Edu/Accounting/Mcgladrey/Workingpapers/Equity_Cap.Pdf (Erişim Tarihi: 20.06.2014).
  • Bashir M.A.H. ve M.H.Kabir. 2003. Determinants of Islamic Banking Profitability. Paper, Presented at The Economic Research Forum (ERF) Annual Conference, Marrakesh, Morocco, http://www.nzibo.com/IB2/Determinants.pdf (Erişim Tarihi: 02.06.2013).
  • Ben Naceur, S. ve M. Goaied. 2008. “The Determinants of Commercial Bank Interest Margin and Profitability: Evidence from Tunisia”, Frontiers in Finance and Economics, 5 (1).
  • Berle, A. ve G. Means. 1932. The Modern Corporation and Private Property, New York: Macmillan.
  • Black, B. S., I. Love ve A. Rachinsky. 2006. “Corporate Governance and Firms’ Market Values: Time Series Evidence from Russia”, Emerging Markets Review, 7.
  • Bollen, L., H. Hassink ve G. Bozic. 2006. “Measuring and Explaining the Quality of Internet Investor Relations Activities: A Multinational Empirical Analysis”, International Journal of Accounting Information Systems.
  • Botosan, C.A. 1997. “Disclosure Level and the Cost of Equity Capital”, The Accounting Review, 72 (3).
  • Brigham E. F. ve J.F. Houston. 2001. Fundamentals of Financial Management, Concise Edition.
  • Chow, C., W. Wong ve A. Boren. 1987. “Voluntary Financial Disclosure By Mexican Corporations”, Accounting Review, 62 (3).
  • Clarkson, M. 1994. A Risk Based Model of Stakeholder Theory. Proceedings of the Second Toronto Conference On Stakeholder Theory, Toronto Centre for Social Performance and Ethics, University of Toronto.
  • Cooke, T.E. 1992. “The Impact of Size, Stock Market Listing and Industry Type on Disclosure in the Annual Reports of Japanese Listed Corporations”, Accounting & Business Research, Vol. 22, Issue 87.
  • Cooke, T.E. 1993. “Disclosure in Japanese Corporate Annual Reports” Journal of Business Finance and Accounting, 20 (4).
  • Cooke, T.E. ve K. Camffermann. 2002. “An Analysis of Disclosure in the Annual Reports of U.K. and Dutch Companies”, Journal of International Accounting Research, 1.
  • Cormier, D., M. Ledoux ve M. Magnan. 2009. “The Use of Web Sites as a Disclosure Platform for Corporate Performance”, International Journal of Accounting Information Systems, 10 (1).
  • Çürük, T. 2001. An Analysis of Factors Influencing Accounting Disclosure in Turkey, İstanbul: IMKB Yayını.
  • Efecik, G. 2006. Firma Değeri ve Kamuyu Aydınlatma İlişkisi: İMKB’de Bir Uygulama. Ankara Üniversitesi Sosyal Bilimler Enstitüsü Yayınlanmamış Yüksek Lisans Tezi.
  • Firth, M.A. 1979. “The Effect of Size, Stock Market Listings, and Auditors on Voluntary Disclosure in Corporate Annual Reports”, Accounting & Business Research, 9 (36).
  • Flamini V., C. McDonald C. ve L. Schumacher. 2009. “The Determinants of Commercial Bank Profitability in Sub-Saharan Africa”, IMF Working Papers, https://www.imf.org/external/pubs/ft/wp/2009/wp0915.pdf (29.05.2014).
  • Frost, C.A., E.A. Gordon ve A.F. Hayes. 2002. “Stock Exchange Disclosure and Market Liquidity: An Analysis of 50 International Exchanges”, file:///C:/Users/%C3%A7%C3%B6z%C3%BCm/Downloads/SSRN-id355361.pdf (Erişim Tarihi: 25.05.2014).
  • Gandia, J. 2008. “Determinants of Internet-Based Corporate Governance Disclosure by Spanish Listed Companies”, Online Information Review, 32 (6).
  • Gomes, A., G. Gorton ve L. Madureıra. 2004. “Sec Regulation Fair Disclosure, Information, and Cost of Capital”, Journal of Corporate Finance, 13.
  • Gompers, P.A., J.L. Ishii ve A.Metrick. 2003. “Corporate Governance and Equity Prices”, Quarterly Journal of Economics, 118 (1).
  • Gore, A. 2004. “Does Mandatory Disclosure Reduce the Cost of Capital? Evidence from Bonds”, University Of Oregon. Working Paper. http://www.researchgate.net/publication/228165842_Does_Mandatory_Disclosure_Red uce_the_Cost_of_Capital_Evidence_from_Bonds (Erişim Tarihi: 05.05.2014).
  • http://www.yenittk.com/tr/kurumsal-yonetim-kurumsallasma-kurumsalyonetim-kurumsal-yonetim-ilkeleri-spk-kurumsal-yonetim-ilkeleriek-sermaye-piyasasi-kurulu-kurumsal-yonetim-lkeleri-2-kamuyuaydinlatma-ve-seffaflik.html (Erişim Tarihi: 10.06.2014).
  • Huafang, X. ve Y.Jianguo. 2007. “Ownership Structure, Board Composition and Corporate Voluntary Disclosure: Evidence From Listed Companies in China”, Managerial Auditing Journal, 22 (6).
  • Javaid, S., J. Anwar, K. Zaman ve A. Gafoor. 2011. “Determinants of Bank Profitability in Pakistan: Internal Factor Analysis”, Mediterranean Journal of Social Sciences, 2(1).
  • Jensen, M.C. ve W.H. Meckling. 1976. “Theory of the Firm: Managerial Behavior, Agency Costs And Ownership Structure”, Journal of Financial Economics, 3.
  • Klapper, L. ve I. Love. 2004. “Corporate Governance, Investor Protection and Performance in Emerging Markets”, Journal of Corporate Finance, 10.
  • Kosmidou, K. 2008. “The Determinants of Banks’ Profits in Greece during the Period of EU Financial Integration”, Managerial Finance , 34 (3).
  • Lang, M.H. ve R.J. Lundholm. 1993. “Cross-Sectional Determinants of Analyst Ratings Of Corporate Disclosures”, Journal of Accounting Research, 31 (2).
  • Liu J. ve I.A. Eddie. 2007. “Determinants of Disclosures of A-, B- and H-Share Companies”, Asian Review of Accounting, 15 (1).
  • Molyneux, P. ve T. Jhon. 1992. “Determinants of European Bank Profitability: A Note”, Journal of Banking and Finance, 16.
  • Naser, K., K. Al-khatib ve Y. Karbhari. 2002. “Empirical Evidence on the Depth of Corporate Information Disclosure in Developing Countries: The Case of Jordan”, International Journal of Commerce & Management, 12(3/4).
  • Okka, O. 2009. Analitik Finansal Yönetim. 1. Baskı, Ankara: Nobel Yayınevi.
  • Özbay, E. 2007. İstanbul Menkul Kıymetler Borsası’nda İşlem Gören Şirketlerin Yıllar İtibariyle Şeffaflık Düzeyleri İle Likiditeleri Arasındaki İlişki (1995-2005). İstanbul Teknik Üniversitesi Sosyal Bilimler Enstitüsü Yayınlanmamış Yüksek Lisans Tezi.
  • Pamukçu, F. 2011. “Finansal Raporlama ile Kamuyu Aydınlatma ve Şeffaflıkta Kurumsal Yönetimin Önemi”, Muhasebe Finansman Dergisi, 50.
  • Richardson, A.J. ve M. Welker. 2001. “Social Disclosure, Financial Disclosure and the Cost Of Equity Capital” Accounting, Organisations and Society, 26.
  • Sayar, A.R.Z. 2003. Bankaların Halka Açılması ve Banka Yatırımcılarının Korunması. Ankara: SPK Yayınları.
  • Sengupta, P. 1998. “Corporate Disclosure Quality and the Cost of Debt”, The Accounting Review, 73 (4).
  • Sevinç, V. 2013. “Türkiye’ye Gelen Yabancı Turist Sayısı, Amerikan Doları Kuru ve Ekonomik Kriz Yılları Arasında Bir Granger Nedensellik İlişkisi Analizi”, Ekonomik ve Sosyal Araştırmalar Dergisi, Cilt:9, Sayı:2.
  • Soh, C.S. 1996. Factors Influencing Company Information Disclosure: An Empirical Study of Companies Listed on the KLSE, UK,University of Warwick Unpublished PhD. Thesis.
  • Taliyev, R. 2011. Kamuyu Aydınlatma Ve Firma Değeri; Rusya Menkul Kıymetler Borsasında Bir Uygulama. Ankara Üniversitesi Sosyal Bilimler Enstitüsü İsletme Anabilim Dalı Yayınlanmamış Doktora Tezi.
  • Tatoğlu Y.F. 2013. İleri Panel Veri Analizi. 2. Baskı, İstanbul: Beta Yayıncılık. TBB Bankacılık ve Araştırma Grubu. 2002. Şeffaflığın Önemi Üzerine Bir Değerlendirme, Türkiye Bankalar Birliği.
  • Tunay, K.B. ve A.M. Silpar. 2006. Türk Ticari Bankacılık Sektöründe Karlılığa Dayalı Performans Analizi-I, Türkiye Bankalar Birliği Araştırma Tebliğleri Serisi, Research Papers , No:1.
  • Wallace, R.S.O. 1998. “Corporate Financing Reporting in Nigeria” Accounting and Business Research, Vol.18, Issue: 72.
  • Wallace, R.S.O., K. Naser ve A. Mora. 1994. “The Relationship Between the Comprehensiveness of Corporate Annual Reports and Firm Characteristics in Spain”, Accounting and Business Research, Vol.25, Issue: 97.

BANKALARIN ŞEFFAFLIK DÜZEYLERİ İLE FİNANSAL PERFORMANS GÖSTERGELERİ ARASINDAKİ İLİŞKİNİN TEST EDİLMESİ

Yıl 2015, Cilt: 17 Sayı: 2, 305 - 330, 30.06.2015

Öz

Bu araştırmanın amacı bankaların şeffaflık düzeyleri ile finansal performans göstergeleri arasındaki ilişkiyi incelemektir. Bu amaçla, hisse senetleri Borsa İstanbul’da (BİST) işlem gören 10 bankanın 2005–2013 yılları arasındaki panel verileri kullanılmıştır. Bankaların şeffaflık düzeyleri; mülkiyet yapısı şeffaflık düzeyi, finansal şeffaflık düzeyi ve yönetim yapısı şeffaflık düzeyi olmak üzere 3 kategoriye ayrılmıştır. Çalışma sonucunda piyasa esaslı performans göstergesi Tobin’s q ile bankaların finansal ve yönetim yapısı şeffaflık
düzeyi arasında negatif ve istatistiksel olarak oldukça anlamlı sonuçlar tespit edilmiştir. Benzer şekilde mülkiyet yapısı ve yönetim yapısı şeffaflık düzeyi ile muhasebe esaslı performans göstergeleri olan varlık karlılığı ve öz sermaye karlılığı arasında negatif ilişkiler belirlenmiştir.

Kaynakça

  • Abreu, M. and M. Victor. 2001. Commercial Bank Interest Margins and Profitability: Evidence for Some EU Countries, http://pascal.iseg.utl.pt/~cief/uk/conf/session2_CIEF2.pdf (Erişim Tarihi: 05.06.2013).
  • Acar, D. ve M. Mortaş. 2011. “İşletmelerin Hesap Verebilirlikleri İle Performans Oranları İlişkisi: İMKB-30 Endeksinde Yer Alan İşletmeler Üzerine Bir Araştırma”, KMÜ Sosyal ve Ekonomik Araştırmalar Dergisi, 13 (21).
  • Aksu, M. ve A. Kösedağ. 2005. İstanbul Menkul Kıymetler Borsası Şirketlerinin Şeffaflık ve Kamuyu Bilgilendirme Bakımından Derecelendirilmesi, http://research.sabanciuniv.edu/1284/ (Erişim Tarihi: 10.05.2014).
  • Al-Modahki, J. S. 1996. An Empirical Study of Accounting Transparency Development in the Kingdom of Saudi Arabia, Hull University Unpublished PhD. Thesis.
  • Alsaeed, K. 2006. “The Association Between Firm Specific Characteristics and Disclosure: The Case of Suudi Arabia”, Managerial Auditing Journal,21(5).
  • Ashbaugh, S.H., D.W. Collins ve R. Lafond. 2004. Corporate Governance and the Cost of Equit Capital.https://Tippie.Uiowa.Edu/Accounting/Mcgladrey/Workingpapers/Equity_Cap.Pdf (Erişim Tarihi: 20.06.2014).
  • Bashir M.A.H. ve M.H.Kabir. 2003. Determinants of Islamic Banking Profitability. Paper, Presented at The Economic Research Forum (ERF) Annual Conference, Marrakesh, Morocco, http://www.nzibo.com/IB2/Determinants.pdf (Erişim Tarihi: 02.06.2013).
  • Ben Naceur, S. ve M. Goaied. 2008. “The Determinants of Commercial Bank Interest Margin and Profitability: Evidence from Tunisia”, Frontiers in Finance and Economics, 5 (1).
  • Berle, A. ve G. Means. 1932. The Modern Corporation and Private Property, New York: Macmillan.
  • Black, B. S., I. Love ve A. Rachinsky. 2006. “Corporate Governance and Firms’ Market Values: Time Series Evidence from Russia”, Emerging Markets Review, 7.
  • Bollen, L., H. Hassink ve G. Bozic. 2006. “Measuring and Explaining the Quality of Internet Investor Relations Activities: A Multinational Empirical Analysis”, International Journal of Accounting Information Systems.
  • Botosan, C.A. 1997. “Disclosure Level and the Cost of Equity Capital”, The Accounting Review, 72 (3).
  • Brigham E. F. ve J.F. Houston. 2001. Fundamentals of Financial Management, Concise Edition.
  • Chow, C., W. Wong ve A. Boren. 1987. “Voluntary Financial Disclosure By Mexican Corporations”, Accounting Review, 62 (3).
  • Clarkson, M. 1994. A Risk Based Model of Stakeholder Theory. Proceedings of the Second Toronto Conference On Stakeholder Theory, Toronto Centre for Social Performance and Ethics, University of Toronto.
  • Cooke, T.E. 1992. “The Impact of Size, Stock Market Listing and Industry Type on Disclosure in the Annual Reports of Japanese Listed Corporations”, Accounting & Business Research, Vol. 22, Issue 87.
  • Cooke, T.E. 1993. “Disclosure in Japanese Corporate Annual Reports” Journal of Business Finance and Accounting, 20 (4).
  • Cooke, T.E. ve K. Camffermann. 2002. “An Analysis of Disclosure in the Annual Reports of U.K. and Dutch Companies”, Journal of International Accounting Research, 1.
  • Cormier, D., M. Ledoux ve M. Magnan. 2009. “The Use of Web Sites as a Disclosure Platform for Corporate Performance”, International Journal of Accounting Information Systems, 10 (1).
  • Çürük, T. 2001. An Analysis of Factors Influencing Accounting Disclosure in Turkey, İstanbul: IMKB Yayını.
  • Efecik, G. 2006. Firma Değeri ve Kamuyu Aydınlatma İlişkisi: İMKB’de Bir Uygulama. Ankara Üniversitesi Sosyal Bilimler Enstitüsü Yayınlanmamış Yüksek Lisans Tezi.
  • Firth, M.A. 1979. “The Effect of Size, Stock Market Listings, and Auditors on Voluntary Disclosure in Corporate Annual Reports”, Accounting & Business Research, 9 (36).
  • Flamini V., C. McDonald C. ve L. Schumacher. 2009. “The Determinants of Commercial Bank Profitability in Sub-Saharan Africa”, IMF Working Papers, https://www.imf.org/external/pubs/ft/wp/2009/wp0915.pdf (29.05.2014).
  • Frost, C.A., E.A. Gordon ve A.F. Hayes. 2002. “Stock Exchange Disclosure and Market Liquidity: An Analysis of 50 International Exchanges”, file:///C:/Users/%C3%A7%C3%B6z%C3%BCm/Downloads/SSRN-id355361.pdf (Erişim Tarihi: 25.05.2014).
  • Gandia, J. 2008. “Determinants of Internet-Based Corporate Governance Disclosure by Spanish Listed Companies”, Online Information Review, 32 (6).
  • Gomes, A., G. Gorton ve L. Madureıra. 2004. “Sec Regulation Fair Disclosure, Information, and Cost of Capital”, Journal of Corporate Finance, 13.
  • Gompers, P.A., J.L. Ishii ve A.Metrick. 2003. “Corporate Governance and Equity Prices”, Quarterly Journal of Economics, 118 (1).
  • Gore, A. 2004. “Does Mandatory Disclosure Reduce the Cost of Capital? Evidence from Bonds”, University Of Oregon. Working Paper. http://www.researchgate.net/publication/228165842_Does_Mandatory_Disclosure_Red uce_the_Cost_of_Capital_Evidence_from_Bonds (Erişim Tarihi: 05.05.2014).
  • http://www.yenittk.com/tr/kurumsal-yonetim-kurumsallasma-kurumsalyonetim-kurumsal-yonetim-ilkeleri-spk-kurumsal-yonetim-ilkeleriek-sermaye-piyasasi-kurulu-kurumsal-yonetim-lkeleri-2-kamuyuaydinlatma-ve-seffaflik.html (Erişim Tarihi: 10.06.2014).
  • Huafang, X. ve Y.Jianguo. 2007. “Ownership Structure, Board Composition and Corporate Voluntary Disclosure: Evidence From Listed Companies in China”, Managerial Auditing Journal, 22 (6).
  • Javaid, S., J. Anwar, K. Zaman ve A. Gafoor. 2011. “Determinants of Bank Profitability in Pakistan: Internal Factor Analysis”, Mediterranean Journal of Social Sciences, 2(1).
  • Jensen, M.C. ve W.H. Meckling. 1976. “Theory of the Firm: Managerial Behavior, Agency Costs And Ownership Structure”, Journal of Financial Economics, 3.
  • Klapper, L. ve I. Love. 2004. “Corporate Governance, Investor Protection and Performance in Emerging Markets”, Journal of Corporate Finance, 10.
  • Kosmidou, K. 2008. “The Determinants of Banks’ Profits in Greece during the Period of EU Financial Integration”, Managerial Finance , 34 (3).
  • Lang, M.H. ve R.J. Lundholm. 1993. “Cross-Sectional Determinants of Analyst Ratings Of Corporate Disclosures”, Journal of Accounting Research, 31 (2).
  • Liu J. ve I.A. Eddie. 2007. “Determinants of Disclosures of A-, B- and H-Share Companies”, Asian Review of Accounting, 15 (1).
  • Molyneux, P. ve T. Jhon. 1992. “Determinants of European Bank Profitability: A Note”, Journal of Banking and Finance, 16.
  • Naser, K., K. Al-khatib ve Y. Karbhari. 2002. “Empirical Evidence on the Depth of Corporate Information Disclosure in Developing Countries: The Case of Jordan”, International Journal of Commerce & Management, 12(3/4).
  • Okka, O. 2009. Analitik Finansal Yönetim. 1. Baskı, Ankara: Nobel Yayınevi.
  • Özbay, E. 2007. İstanbul Menkul Kıymetler Borsası’nda İşlem Gören Şirketlerin Yıllar İtibariyle Şeffaflık Düzeyleri İle Likiditeleri Arasındaki İlişki (1995-2005). İstanbul Teknik Üniversitesi Sosyal Bilimler Enstitüsü Yayınlanmamış Yüksek Lisans Tezi.
  • Pamukçu, F. 2011. “Finansal Raporlama ile Kamuyu Aydınlatma ve Şeffaflıkta Kurumsal Yönetimin Önemi”, Muhasebe Finansman Dergisi, 50.
  • Richardson, A.J. ve M. Welker. 2001. “Social Disclosure, Financial Disclosure and the Cost Of Equity Capital” Accounting, Organisations and Society, 26.
  • Sayar, A.R.Z. 2003. Bankaların Halka Açılması ve Banka Yatırımcılarının Korunması. Ankara: SPK Yayınları.
  • Sengupta, P. 1998. “Corporate Disclosure Quality and the Cost of Debt”, The Accounting Review, 73 (4).
  • Sevinç, V. 2013. “Türkiye’ye Gelen Yabancı Turist Sayısı, Amerikan Doları Kuru ve Ekonomik Kriz Yılları Arasında Bir Granger Nedensellik İlişkisi Analizi”, Ekonomik ve Sosyal Araştırmalar Dergisi, Cilt:9, Sayı:2.
  • Soh, C.S. 1996. Factors Influencing Company Information Disclosure: An Empirical Study of Companies Listed on the KLSE, UK,University of Warwick Unpublished PhD. Thesis.
  • Taliyev, R. 2011. Kamuyu Aydınlatma Ve Firma Değeri; Rusya Menkul Kıymetler Borsasında Bir Uygulama. Ankara Üniversitesi Sosyal Bilimler Enstitüsü İsletme Anabilim Dalı Yayınlanmamış Doktora Tezi.
  • Tatoğlu Y.F. 2013. İleri Panel Veri Analizi. 2. Baskı, İstanbul: Beta Yayıncılık. TBB Bankacılık ve Araştırma Grubu. 2002. Şeffaflığın Önemi Üzerine Bir Değerlendirme, Türkiye Bankalar Birliği.
  • Tunay, K.B. ve A.M. Silpar. 2006. Türk Ticari Bankacılık Sektöründe Karlılığa Dayalı Performans Analizi-I, Türkiye Bankalar Birliği Araştırma Tebliğleri Serisi, Research Papers , No:1.
  • Wallace, R.S.O. 1998. “Corporate Financing Reporting in Nigeria” Accounting and Business Research, Vol.18, Issue: 72.
  • Wallace, R.S.O., K. Naser ve A. Mora. 1994. “The Relationship Between the Comprehensiveness of Corporate Annual Reports and Firm Characteristics in Spain”, Accounting and Business Research, Vol.25, Issue: 97.
Toplam 51 adet kaynakça vardır.

Ayrıntılar

Birincil Dil Türkçe
Konular İşletme
Bölüm ANABÖLÜM
Yazarlar

Mesut Doğan Bu kişi benim

Bilge Leyli Elitaş Bu kişi benim

Gülsevil Mecek Bu kişi benim

Yayımlanma Tarihi 30 Haziran 2015
Gönderilme Tarihi 25 Şubat 2015
Yayımlandığı Sayı Yıl 2015 Cilt: 17 Sayı: 2

Kaynak Göster

APA Doğan, M., Elitaş, B. L., & Mecek, G. (2015). BANKALARIN ŞEFFAFLIK DÜZEYLERİ İLE FİNANSAL PERFORMANS GÖSTERGELERİ ARASINDAKİ İLİŞKİNİN TEST EDİLMESİ. Muhasebe Bilim Dünyası Dergisi, 17(2), 305-330.