TFRS’NİN FİNANSAL RAPORLARA ETKİSİNİN DEĞER İLGİSİ İLE TESPİTİ: BİST İMALAT SANAYİ SEKTÖRÜNDE BİR UYGULAMA

Yıl 2019, Cilt: 10 Sayı: 23, 99 - 107, 28.02.2019

İnci Çisil Oral İsmail Bekci

https://doi.org/10.21076/vizyoner.503976

Cited By: 1

Öz

Bu çalışma Türkiye’de Türkiye Finansal Raporlama Standartları (TFRS) uygulamalarının öncesi ve sonrası dönem için finansal raporlardan elde edilen ve bilanço ve gelir tablosunda yer alan muhasebe verilerinin değer ilgisi düzeyini incelemektedir. Çalışma, TFRS uygulamasından önceki altı yıllık (1999 - 2004) ve TFRS uygulamasından sonraki on iki yıllık dönem (2005 - 2016) üzerine odaklanmıştır. Bu amaçla Borsa İstanbul’da imalat sanayi sektöründe işlem gören 40 işletmenin verileri panel veri analizi yöntemi ile analiz edilmiştir. Çalışma sonunda özkaynak defter değeri ile işletmelerin piyasa değeri arasındaki ilişkinin TFRS sonrası dönem için arttığı tespit edilmiştir. Ayrıca net kardaki değişim ile hisse senedi getirisi arasındaki ilişki de TFRS öncesi ve sonrası dönemler için test edilmiştir. Yapılan analizler sonunda yatırımcıların hisse senedi getirilerini analiz ederken net kardaki değişimden faydalanmayı tercih ettikleri gözlemlenmiştir.

Anahtar Kelimeler

UFRS, TFRS, Değer İlgisi

THE DETERMINATION OF THE EFFECT OF TFRS ON FINANCIAL REPORTS WITH VALUE RELEVANCE: AN APPLICATION IN BIST MANUFACTURING SECTOR

Öz

The research examines the level of value relevance of accounting data in the pre and post Turkish Financial Reporting Standards (TFRS) period in Turkey. The study focuses on six year period (1999 - 2004) before TFRS and twelve year period (2005 - 2016) after TFRS application. For this purpose, data of 40 firms traded in the manufacturing industry sector in İstanbul Stock Exchange are analyzed. The evidence derived from the study suggested that the relationship between the book value of equity and the market value of the companies has increased for the post TFRS period. By conducting further analysis, the relationship between stock return – change in net profit is investigated for the pre and post TFRS adoption periods. As a result, it is observed that investors prefer to utilize the change in net profit while evaluating the stock returns. 

Anahtar Kelimeler

IFRS, TFRS, Value Relevance

Kaynakça

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