SavedAdd your journal

Journals / Journal of Yasar University / 2014 / Cilt: 9 - Sayı: 34

A comparative study of relationship between stok returns and financial ratios in accordance with uniform chart of accounts and ifrs: An applicaton on bist

Tek düzen hesap planı ve ufrs'ye göre elde edilen finansal oranların hisse getirileri ile ilişkisinin karşılaştırmalı incelenmesi: Bist'te bir uygulama

İSRAFİL ZOR
RIFAT KARAKUŞ
Pages
5870–5886
DOI
—
🏛️Bibliographic metadata and full text access for this article are provided via DergiPark.
DergiPark Record ↗
✨

AI Summary & Key Takeaways

AI Insight
⚡ TL;DR(Too Long; Didn't Read)

Results of the analysis reveal that although there is a statistically significant relationship between stock returns and financial ratios calculated according to domestic accounting standards, there is no relationship according to IFRS.

📌 3 Key Takeaways

🎯
Objective & Hypothesis:The worldwide use of International Financial Reporting Standards which is posed by economic globalization as a need led to comparisons between these standards and domestic accounting standards which were used before IFRS.
📊
Key Findings & Data:For this purpose, data of 141 companies between 1999/9 and 2003/6 terms according to domestic accounting standards and data of 182 companies between 2005/9 and 2011/6 term according to IFRS are used and panel data analysis is performed by these data.
💡
Conclusion & Impact:Results of the analysis reveal that although there is a statistically significant relationship between stock returns and financial ratios calculated according to domestic accounting standards, there is no relationship according to IFRS.
🔬Design:Research Article
📍Scope:2003 Verileri
⚙️Variables:Domain Parameters

Abstract

The worldwide use of International Financial Reporting Standards which is posed by economic globalization as a need led to comparisons between these standards and domestic accounting standards which were used before IFRS. This study aims to compare the relationship between stock returns and financial ratios that are calculated according to IFRS or domestic accounting standards. For this purpose, data of 141 companies between 1999/9 and 2003/6 terms according to domestic accounting standards and data of 182 companies between 2005/9 and 2011/6 term according to IFRS are used and panel data analysis is performed by these data. Results of the analysis reveal that although there is a statistically significant relationship between stock returns and financial ratios calculated according to domestic accounting standards, there is no relationship according to IFRS.

Özet

Ekonomik küreselleşmenin bir ihtiyaç olarak ortaya çıkardığı Uluslararası Finansal Raporlama Standartları’nın birçok ülkede kullanılır hale gelmesi, bu standartlar ile öncesinde kullanılan yerel standartların farklı açılardan karşılaştırılmasına neden olmuştur. Bu çalışmada da; Tek Düzen Hesap Planı’na göre düzenlenen mali tablolardan elde edilen finansal oranlar ile hisse getirileri ilişkisinin, UFRS’ye uyumlu olarak hazırlanan mali tablolardan elde edilen finansal oranlar ile hisse getirileri ilişkisiyle karşılaştırmalı olarak incelenmesi amaçlanmaktadır. Bu amaç doğrultusunda 1999/9 ile 2003/6 dönemleri arasında Tek Düzen Hesap Planı’na göre mali rapor hazırlayan 141 şirket ile 2005/9 ile 2011/6 dönemleri arasında UFRS’ye uyumlu mali tablo düzenleyen 182 şirketin verileri kullanılarak panel veri analizi uygulanmıştır. Yapılan analiz sonucunda, Tek Düzen Hesap Planı’na göre düzenlenen tablolardan elde edilen oranlar ile hisse getirileri arasında istatistiksel olarak anlamlı ilişkiler tespit edilmiş, UFRS’ye uyumlu olarak hazırlanan mali tablolardan elde edilen finansal oranlar ile hisse getirileri arasındaki ilişki ise istatistiksel olarak anlamsız bulunmuştur

🔖

Cite This Article

ZOR, İ., KARAKUŞ, R. (2014). A comparative study of relationship between stok returns and financial ratios in accordance with uniform chart of accounts and ifrs: An applicaton on bist. Journal of Yasar University, Cilt: 9 - Sayı: 34, 5870–5886. https://ajindex.com/articles/212754

📄 Full Text PDF Viewer

📄

PDF görüntüleyici hazırlanıyor...

References (11)

  1. Ağca A., Aktaş R. (2007). First Time Application of IFRS and Its Impact on Financial Ratios: A Study on Turkish Listed Firms. Problems and Perspectives in Management, 5(2), 99-112.
  2. Akdoğan N., Tenker N. (2007). Finansal Tablolar ve Mali Analiz Teknikleri. Ankara:Gazi Kitabevi.
  3. Ataman B., Özden E. A. (2009). Tek Düzen Hesap Planına Göre Hazırlanan Finansal Tabloların UFRS'ye Uyarlanması ve Rasyo Yöntemi ile Analizi. Muhasebe ve Finansman Dergisi, 44, 59-73.
  4. Atmaca M. (2010). Uluslararası Muhasebe ve Finansal Raporlama Standartlarının İşletmelerinin Finansal Analizine Etkilerini Değerlendirmeye Yönelik Bir Çalışma. Marmara Üniversitesi İİBF Dergisi, 28(1), 523-548.
  5. Atmaca M., Çelenk H. (2011). Uluslararası Muhasebe Ve Finansal Raporlama Standartlarının Finansal Analize Etkilerinin Regresyon Analizi İle Ölçülmesine Yönelik Bir Araştırma. Muhasebe Ve Finansman Dergisi, 49, 113-125.
  6. Atwood T.J., Drake M.S., Myers J.N., Myers L.A. (2011). Do Earnings Reported Under IFRS Tell Us More About Future Earnings And Cash Flows?. Journal of Accounting and Public Policy, 30, 103–121 Balcı B.R. (2012). TFRS’lerin Oran Analizine Etkileri. Journal of Yasar University, 28(7), 4687 – 4707. Ball R. (2006). International Financial Reporting Standards (IFRS): Pros And Cons For Investors. Accounting and Business Research, 36(1), 5-27.
  7. Bellas A., Toudas K., Papadatos K. (2007). What International Accounting Standards (IAS) bring about to the financial statements of Greek Listed Companies? The case of the Athens Stock Exchange. Journal of Economics and Business, 57(3), 54-77.
  8. Blanchette M., Racicot F.,Girard J. (2011). The Effects of IFRS on Financial Ratios: Early Evidence in Canada. Certified General Accountants Association of Canada Paper, http://www.cga-canada.org/enca/ResearchReports/ca_rep_2011-03_IFRS_early_adopters.pdf.
  9. Büyükşalvarcı A., Uyar S. (2012). Farklı Muhasebe Düzenlemelerine Göre Hazırlanan Mali Tablolardan Elde Edilen Finansal Oranlar İle Şirketlerin Hisse Senedi Getirileri Ve Piyasa Değerleri Arasındaki İlişki. Muhasebe ve Finansman Dergisi, 53, 25-48.
  10. Damodaran A. (2001). Investment Valuation. New York: Wiley. Daske H.(2006). Economic Benefits of Adopting IFRS or US-GAAP – Have the Expected Cost of Equity Capital Really Decreased?. Journal of Business Finance & Accounting, 33(3-4), 329–373. Frees E.W. (2004). Longitudinal and Panel Data: Analysis and Applications in the Social Sciences. New York: Cambridge University Press.
  11. Hsiao C. (2003). Analysis of Panel Da