Factors Affecting the Timeliness of Financial Reports: The Case of Borsa İstanbul

Yıl 2021, , 187 - 196, 30.04.2021

Tuba Toksoz , Fevzi Serkan Özdemir

https://doi.org/10.29249/selcuksbmyd.892459

Öz

Financial reporting aims to reveal the financial position and performance of the reporting entities so that this useful information enables stakeholders to make and evaluate their economic decisions. The qualitative characteristics that financial information should possess are listed in the conceptual framework. Although financial information must have qualitative characteristics in theory, it is an important research question whether the reports presented to public have these qualities, in practice. Therefore, there are many studies in the literature that investigate this question. This study explores the determinants of financial reporting timeliness, one of the secondary qualitative characteristics of financial information. More specifically, this study aims to examine the factors affecting the date when the financial reports are disclosed to the public with a sample of annual financial reports (with 680 observations) of 136 companies traded in Borsa Istanbul Industrials Index (BIST: XUSIN) continuously between 2015 and 2019. Empirical findings show that financial reporting delay is decreasing in firm size, higher liquidity, receiving an unqualified audit opinion, being audited by one of the Big4 accounting firm and experiencing earnings growth. Consistent with prior studies, reporting a loss in the current period, preparing a consolidated financial statement and earnings management appear to lead to an increase in reporting delay.

Anahtar Kelimeler

Financial Reporting Delay, Timeliness of Financial Information, Borsa Istanbul

Destekleyen Kurum

Bulunmuyor

Finansal Raporların Zamanlılığına Etki Eden Faktörler: Borsa İstanbul Örneği

Öz

Finansal raporlamada amaç, raporlayan işletmenin finansal durumunu ve performansını ortaya koymak; bu suretle tüm paydaşların ekonomik kararlarına yarar sağlayacak nitelikli finansal bilgiyi sunmaktır. Nitekim kavramsal çerçevede finansal bilginin taşıması gereken niteliksel özellikler sıralanmıştır. Teorik olarak finansal bilginin niteliksel özellikleri taşıması bir gereklilik olsa da pratikte kamuoyu ile paylaşılmış olan raporların belirtilen bu nitelikleri gerçekten haiz olup olmadığı önemli bir araştırma sorusu olmaktadır ve literatürde de bu soruya cevap arayan çok sayıda çalışma yer almaktadır. Bu çalışmanın amacı da ikincil niteliksel özelliklerden biri olan zamanlılık bağlamında, 2015 – 2019 yılları arasında Borsa İstanbul (BIST) Sınai Endeks’te kesintisiz olarak işlem gören 136 şirketin anılan 5 hesap dönemindeki, yıllık finansal raporlarından oluşan örneklem ile (680 gözlem ile) finansal raporların kamuoyuna açıklandığı tarih üzerinde etkili olan faktörlerin incelenmesi ve bu suretle finansal raporlamanın zamanlılığına etki eden faktörlerin belirlenmesidir. Ampirik bulgular; firma büyüklüğü, yüksek likidite, olumlu denetim görüşü almış olmak, 4 büyük bağımsız denetim firması tarafından denetlenmiş olmak ve karlılıktaki artış finansal raporlamadaki gecikmeyi kısaltan etkenler olarak belirlenmiştir. Buna karşın, cari dönemi zararla kapatmış olmak ve finansal tabloların konsolidasyona tabi tutulması zorunluluğunun literatürde de belirtildiği gibi raporlamada gecikme süresini arttırdığı tespit edilmiştir.

Anahtar Kelimeler

Finansal Raporlamada Gecikme, Finansal Bilginin Zamanlılığı, Borsa İstanbul

Kaynakça

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