Araştırma Makalesi
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Türkiye’de Yayınlanan Entegre Raporların Kalitesi ve Firma Değeri İlişkisi

Yıl 2022, Cilt: 24 Sayı: 42, 343 - 358, 27.06.2022

Öz

Bu çalışmanın amacı, Türkiye’de yayınlanan entegre raporların kalitesi ve firma değeri arasındaki ilişkiyi ve bu ilişkinin firma özelliklerine göre sistematik olarak değişip değişmediğini incelemek olarak belirlenmiştir. Çalışmada, Türkiye’de 2016-2020 yılları arasında yayınlanan Entegre Raporlara ulaşılmış ve entegre raporlama skorları tespit edilmiştir. Bu bağlamda, elde edilen verilere tanımlayıcı istatistikler ile korelasyon analizi ve çoklu regresyon analizi uygulanmıştır. Elde edilen bulgular, entegre raporlama kalitesinin firma değeri üzerinde anlamlı ve pozitif bir etkisi olduğunu göstermektedir. Çalışma sonuçlarına göre, entegre raporların firmalara sağladığı faydasının maliyetinden daha yüksek olduğu ve entegre raporlamanın karmaşık işletim ve bilgi ortamına sahip firmalarda bilgi işlem maliyetlerini azalttığı görülmektedir. Ayrıca daha yüksek dış finansman ihtiyacı olan firmaların daha yüksek entegre rapor skorlarına sahip olduğu tespit edilmiştir.

Kaynakça

  • Abeysekera, I. (2013). A Template for Integrated Reporting. Journal of Intellectual Capital, 14(2), 227-245.
  • Adegboyegun, A. E., Alade, M. E., Ben-Caleb, E., Ademola, A. O., Eluyela, D. F. ve Oladipo, O. A. (2020). Integrated Reporting and Corporate Performance in Nigeria: Evidence from the Banking Industry. Cogent Business & Management, 7(1), 1-12.
  • Adhariani, D. ve Villiers, C. d. (2019). Integrated Reporting: Perspectives of Corporate Report Preparers and Other Stakeholders. Sustainability Accounting, Management and Policy Journal, 10(1), 183-207.
  • Albitar, K., Hussainey, K., Kolade, N. ve Gerged, A. M. (2020). ESG Disclosure and Firm Performance Before and After IR: The Moderating Role of Governance Mechanisms. International Journal of Accounting & Information Management, 28(3), 429-444.
  • Aras, G. ve Sarıoğlu, G. U. (2015). Kurumsal Raporlamada Yeni Dönem: Entegre Raporlama. İstanbul: TÜSİAD.
  • Barac, K. ve Moloi, T. (2010). Assessment of Corporate Governance Reporting in the Annual Reports of South African Listed Companies. Southern African Journal of Accountability and Auditing Research, 10, 19-31.
  • Barth, M. E., Cahan, S. F., Chen, L. ve Venter, E. R. (2017, Nisan). The Economic Consequences Associated with Integrated Report Quality: Capital Market and Real Effects. Stanford Business: https://www.gsb.stanford.edu/faculty-research/working-papers/economic-consequences-associated-integrated-report-quality-capital adresinden alındı
  • Beyer, A., Cohen, D. A., Lys, T. Z. ve Walther, B. R. (2010). The Financial Reporting Environment: Review of the Recent Literature. Journal of Accounting and Economics, 50(2-3), 296-343.
  • Burke, J. J. ve Clark, C. E. (2016). The Business Case for Integrated Reporting: Insights from Leading Practitioners, Regulators, and Academics. Business Horizons(59), 273-283.
  • Caglio, A., Melloni, G. ve Perego, P. (2019). Informational Content and Assurance of Textual Disclosures: Evidence on Integrated Reporting. European Accounting Review, 29(1), 55-83.
  • Cheng, M., Green, W., Conradie, P., Konishi, N. ve Romi, A. (2014). The International Integrated Reporting Framework: Key Issues and Future Research Opportunities. ournal of International Financial Management & Accounting, 25(1), 90-119.
  • Churet, C. ve Eccles, R. G. (2014). ntegrated Reporting, Quality of Management, and Financial Performance. Journal of Applied Corporate Finance, 26(1), 56-64.
  • Cohen, L. ve Lou, D. (2012). Complicated Firms. Journal of Financial Economics, 104(2), 383-400.
  • Cortesi, A. ve Vena, L. (2019). Disclosure Quality Under Integrated Reporting: A Value Relevance Approach. Journal of Cleaner Production(220), 745-755.
  • Daryani, S. M. ve Amini, A. (2016). Management and Organizational Complexity. Procedia - Social and Behavioral Sciences, 230, 359-366.
  • de Villiers, C., Rinaldi, L. ve Unerman, J. (2014). Integrated Reporting: Insights, Gaps and An Agenda for Future Research. Accounting, Auditing & Accountability Journal, 27(7), 1042-1067.
  • Dey, P. K. (2020). Value Relevance of Integrated Reporting: A Study of the Bangladesh Banking Sector. International Journal of Disclosure and Governance(17), 195-207.
  • Dumay, J., Bernardi, C., Guthrie, J. ve Demartini, P. (2016). Integrated Reporting: A Structured Literature Review. Accounting Forum(40), 166-185.
  • Eccles, R. G. ve Krzus, M. P. (2010). One Report - Integrated Reporting for a Sustainable Strategy. New Jersey: Jon Wiley & Sons, Inc.
  • Eccles, R. G., Krzus, M. P. ve Ribot, S. (2015). Meaning and Momentum in the Integrated Reporting Movement. Journal of Applied Corporate Finance, 27(2), 8-17.
  • Fatemi, A., Glaum, M. ve Kaiser, S. (2018). ESG Performance and Firm Value: The Moderating Role of Disclosure. Global Finance Journal(38), 45-64.
  • Gal, G., ve Akisik, O. (2020). The Impact of Internal Control, External Assurance, and Integrated Reports on Market Value. Corporate Social Responsibility and Environmental Management, 27(3), 1227-1240.
  • Hammond, K. ve Miles, S. (2004). Assessing Quality Assessment of Corporate Social Reporting: UK Perspectives. Accounting Forum, 28(1), 61-79.
  • James, M. L. (2014). The Benefits of Sustainability and Integrated Reporting: An Investigation of Accounting Majors' Perceptions. Journal of Legal, Ethical and Regulatory Issues, 17(2), 93-113.
  • Kaya, P. (2015). Entegre Raporlama Sisteminin Ortaya Çıkış Sebepleri ve Şirketlere Sağlayacağı Faydalar. Muhasebe ve Denetime Bakış(Haziran), 113-130.
  • Landau, A., Rochell, J., Klein, C. ve Zwergel, B. (2020). Integrated Reporting of Environmental, Social, and Governance and Financial Data: Does the Market Value Integrated Reports? Business Strategy and Environment, 29(4), 1750-1763.
  • Lee, K.-W. ve Yeo, G. H.-H. (2016). The Association Between Integrated Reporting and Firm Valuation. Review of Quantitative Finance and Accounting(47), 1221-1250.
  • Mervelskemper, L. ve Streit, D. (2017). Enhancing Market Valuation of ESG Performance: Is Integrated Reporting Keeping its Promise? Business Strategy and the Environment, 26(4), 536-549.
  • Moloi, T. ve Iredele, O. (2020). Firm Value and Integrated Reporting Quality of South African Listed Firms. Academy of Strategic Management Journal, 19(1), 1-12.
  • Muttakin, M. B., Mihret, D., Lemma, T. T. ve Khan, A. (2020). Integrated Reporting, Financial Reporting Quality and Cost of Debt. International Journal of Accounting & Information Management, 28(3), 517-534.
  • Naveen, L. (2006). Organizational Complexity and Succession Planning. Journal of Financial and Quantitative Analysis, 41(3), 661-683.
  • Pavlopoulos, A., Magnis, C. ve Iatridis, G. E. (2017). Integrated Reporting: Is it the Last Piece of the Accounting Disclosure Puzzle? Journal of Multinational Financial Management(41), 23-46.
  • Pistoni, A., Songini, L. ve Bavagnoli, F. (2018). Integrated Reporting Quality: An Empirical Analysis. Corporate Social Responsibility and Environmental Management(25), 498-507.
  • Roth, H. P. (2014). Is Integrated Reporting in the Future? The CPA Journal, 84(3), 62-67.
  • Salvi, A., Vitolla, F., Giakoumelou, A., Raimo, N. ve Rubino, M. (2020). Intellectual Capital Disclosure in Integrated Reports: The Effect on Firm Value. Technological Forecasting & Social Change(160), 1-8.
  • Serafeim, G. (2015). Integrated Reporting and Investor Clientele. Journal of Applied Corporate Finance, 27(2), 34-51.
  • Simnett, R. ve Huggins, A. L. (2015). Integrated Reporting and Assurance: Where Can Research Add Value? Sustainability Accounting, Management and Policy Journal, 6(1), 29-53.
  • Velte, P. (2021). Archival Research on Integrated Reporting: A Systematic Review of Main Drivers and the Impact of Integrated Reporting on Firm Value. Journal of Management and Governance(Mayıs).
  • Verrecchia, R. E. (1983). Discretionary Disclosure. Journal of Accounting and Economics, 5, 179-194.
  • Vitolla, F. ve Raimo, N. (2018). Adoption of Integrated Reporting: Reasons and Benefits—A Case Study Analysis. International Journal of Business and Management, 13(12), 244-250.
  • Wahl, A., Charifzadeh, M. ve Diefenbach, F. (2020). Voluntary Adopters of Integrated Reporting–Evidence on Forecast Accuracy and Firm Value. Business Strategy and the Environment(29), 2542-2556.
  • Yücenurşen, M. (2021). Entegre Raporlama ve Sermaye Maliyeti İlişkisi. 6th International EMI Entrepreneurship & Social Sciences Congress (s. 329-338). Aksaray: Dilkur Academy.
  • Zozik, A. ve Doğan, Z. (2021). Türkiye'de Entegre Raporlama Sürecinde Karşılaşılabilecek Sorunların Tespitine İlişkin Bir Araştırma. Muhasebe ve Denetime Bakış(63), 83-110.

The Relationship Between the Quality of The Integrated Reports Published in Turkey and The Firm Value

Yıl 2022, Cilt: 24 Sayı: 42, 343 - 358, 27.06.2022

Öz

The aim of this study is to examine the relationship between the quality of integrated reports published in Turkey and firm value and whether this relationship changes systematically according to firm characteristics. In the study, Integrated Reports published in Turkey between 2016-2020 were reached and integrated reporting scores were determined. In this context, descriptive statistics, correlation analysis and multiple regression analysis were applied to the obtained data. The findings show that integrated reporting quality has a significant and positive effect on firm value. According to the results of the study, it is seen that the benefit of the integrated reports to the companies is higher than the cost and that the integrated reporting reduces the information processing costs in the companies with a complex operating and information environment. In addition, it has been determined that companies with higher external financing needs have higher integrated report scores.

Kaynakça

  • Abeysekera, I. (2013). A Template for Integrated Reporting. Journal of Intellectual Capital, 14(2), 227-245.
  • Adegboyegun, A. E., Alade, M. E., Ben-Caleb, E., Ademola, A. O., Eluyela, D. F. ve Oladipo, O. A. (2020). Integrated Reporting and Corporate Performance in Nigeria: Evidence from the Banking Industry. Cogent Business & Management, 7(1), 1-12.
  • Adhariani, D. ve Villiers, C. d. (2019). Integrated Reporting: Perspectives of Corporate Report Preparers and Other Stakeholders. Sustainability Accounting, Management and Policy Journal, 10(1), 183-207.
  • Albitar, K., Hussainey, K., Kolade, N. ve Gerged, A. M. (2020). ESG Disclosure and Firm Performance Before and After IR: The Moderating Role of Governance Mechanisms. International Journal of Accounting & Information Management, 28(3), 429-444.
  • Aras, G. ve Sarıoğlu, G. U. (2015). Kurumsal Raporlamada Yeni Dönem: Entegre Raporlama. İstanbul: TÜSİAD.
  • Barac, K. ve Moloi, T. (2010). Assessment of Corporate Governance Reporting in the Annual Reports of South African Listed Companies. Southern African Journal of Accountability and Auditing Research, 10, 19-31.
  • Barth, M. E., Cahan, S. F., Chen, L. ve Venter, E. R. (2017, Nisan). The Economic Consequences Associated with Integrated Report Quality: Capital Market and Real Effects. Stanford Business: https://www.gsb.stanford.edu/faculty-research/working-papers/economic-consequences-associated-integrated-report-quality-capital adresinden alındı
  • Beyer, A., Cohen, D. A., Lys, T. Z. ve Walther, B. R. (2010). The Financial Reporting Environment: Review of the Recent Literature. Journal of Accounting and Economics, 50(2-3), 296-343.
  • Burke, J. J. ve Clark, C. E. (2016). The Business Case for Integrated Reporting: Insights from Leading Practitioners, Regulators, and Academics. Business Horizons(59), 273-283.
  • Caglio, A., Melloni, G. ve Perego, P. (2019). Informational Content and Assurance of Textual Disclosures: Evidence on Integrated Reporting. European Accounting Review, 29(1), 55-83.
  • Cheng, M., Green, W., Conradie, P., Konishi, N. ve Romi, A. (2014). The International Integrated Reporting Framework: Key Issues and Future Research Opportunities. ournal of International Financial Management & Accounting, 25(1), 90-119.
  • Churet, C. ve Eccles, R. G. (2014). ntegrated Reporting, Quality of Management, and Financial Performance. Journal of Applied Corporate Finance, 26(1), 56-64.
  • Cohen, L. ve Lou, D. (2012). Complicated Firms. Journal of Financial Economics, 104(2), 383-400.
  • Cortesi, A. ve Vena, L. (2019). Disclosure Quality Under Integrated Reporting: A Value Relevance Approach. Journal of Cleaner Production(220), 745-755.
  • Daryani, S. M. ve Amini, A. (2016). Management and Organizational Complexity. Procedia - Social and Behavioral Sciences, 230, 359-366.
  • de Villiers, C., Rinaldi, L. ve Unerman, J. (2014). Integrated Reporting: Insights, Gaps and An Agenda for Future Research. Accounting, Auditing & Accountability Journal, 27(7), 1042-1067.
  • Dey, P. K. (2020). Value Relevance of Integrated Reporting: A Study of the Bangladesh Banking Sector. International Journal of Disclosure and Governance(17), 195-207.
  • Dumay, J., Bernardi, C., Guthrie, J. ve Demartini, P. (2016). Integrated Reporting: A Structured Literature Review. Accounting Forum(40), 166-185.
  • Eccles, R. G. ve Krzus, M. P. (2010). One Report - Integrated Reporting for a Sustainable Strategy. New Jersey: Jon Wiley & Sons, Inc.
  • Eccles, R. G., Krzus, M. P. ve Ribot, S. (2015). Meaning and Momentum in the Integrated Reporting Movement. Journal of Applied Corporate Finance, 27(2), 8-17.
  • Fatemi, A., Glaum, M. ve Kaiser, S. (2018). ESG Performance and Firm Value: The Moderating Role of Disclosure. Global Finance Journal(38), 45-64.
  • Gal, G., ve Akisik, O. (2020). The Impact of Internal Control, External Assurance, and Integrated Reports on Market Value. Corporate Social Responsibility and Environmental Management, 27(3), 1227-1240.
  • Hammond, K. ve Miles, S. (2004). Assessing Quality Assessment of Corporate Social Reporting: UK Perspectives. Accounting Forum, 28(1), 61-79.
  • James, M. L. (2014). The Benefits of Sustainability and Integrated Reporting: An Investigation of Accounting Majors' Perceptions. Journal of Legal, Ethical and Regulatory Issues, 17(2), 93-113.
  • Kaya, P. (2015). Entegre Raporlama Sisteminin Ortaya Çıkış Sebepleri ve Şirketlere Sağlayacağı Faydalar. Muhasebe ve Denetime Bakış(Haziran), 113-130.
  • Landau, A., Rochell, J., Klein, C. ve Zwergel, B. (2020). Integrated Reporting of Environmental, Social, and Governance and Financial Data: Does the Market Value Integrated Reports? Business Strategy and Environment, 29(4), 1750-1763.
  • Lee, K.-W. ve Yeo, G. H.-H. (2016). The Association Between Integrated Reporting and Firm Valuation. Review of Quantitative Finance and Accounting(47), 1221-1250.
  • Mervelskemper, L. ve Streit, D. (2017). Enhancing Market Valuation of ESG Performance: Is Integrated Reporting Keeping its Promise? Business Strategy and the Environment, 26(4), 536-549.
  • Moloi, T. ve Iredele, O. (2020). Firm Value and Integrated Reporting Quality of South African Listed Firms. Academy of Strategic Management Journal, 19(1), 1-12.
  • Muttakin, M. B., Mihret, D., Lemma, T. T. ve Khan, A. (2020). Integrated Reporting, Financial Reporting Quality and Cost of Debt. International Journal of Accounting & Information Management, 28(3), 517-534.
  • Naveen, L. (2006). Organizational Complexity and Succession Planning. Journal of Financial and Quantitative Analysis, 41(3), 661-683.
  • Pavlopoulos, A., Magnis, C. ve Iatridis, G. E. (2017). Integrated Reporting: Is it the Last Piece of the Accounting Disclosure Puzzle? Journal of Multinational Financial Management(41), 23-46.
  • Pistoni, A., Songini, L. ve Bavagnoli, F. (2018). Integrated Reporting Quality: An Empirical Analysis. Corporate Social Responsibility and Environmental Management(25), 498-507.
  • Roth, H. P. (2014). Is Integrated Reporting in the Future? The CPA Journal, 84(3), 62-67.
  • Salvi, A., Vitolla, F., Giakoumelou, A., Raimo, N. ve Rubino, M. (2020). Intellectual Capital Disclosure in Integrated Reports: The Effect on Firm Value. Technological Forecasting & Social Change(160), 1-8.
  • Serafeim, G. (2015). Integrated Reporting and Investor Clientele. Journal of Applied Corporate Finance, 27(2), 34-51.
  • Simnett, R. ve Huggins, A. L. (2015). Integrated Reporting and Assurance: Where Can Research Add Value? Sustainability Accounting, Management and Policy Journal, 6(1), 29-53.
  • Velte, P. (2021). Archival Research on Integrated Reporting: A Systematic Review of Main Drivers and the Impact of Integrated Reporting on Firm Value. Journal of Management and Governance(Mayıs).
  • Verrecchia, R. E. (1983). Discretionary Disclosure. Journal of Accounting and Economics, 5, 179-194.
  • Vitolla, F. ve Raimo, N. (2018). Adoption of Integrated Reporting: Reasons and Benefits—A Case Study Analysis. International Journal of Business and Management, 13(12), 244-250.
  • Wahl, A., Charifzadeh, M. ve Diefenbach, F. (2020). Voluntary Adopters of Integrated Reporting–Evidence on Forecast Accuracy and Firm Value. Business Strategy and the Environment(29), 2542-2556.
  • Yücenurşen, M. (2021). Entegre Raporlama ve Sermaye Maliyeti İlişkisi. 6th International EMI Entrepreneurship & Social Sciences Congress (s. 329-338). Aksaray: Dilkur Academy.
  • Zozik, A. ve Doğan, Z. (2021). Türkiye'de Entegre Raporlama Sürecinde Karşılaşılabilecek Sorunların Tespitine İlişkin Bir Araştırma. Muhasebe ve Denetime Bakış(63), 83-110.
Toplam 43 adet kaynakça vardır.

Ayrıntılar

Birincil Dil Türkçe
Bölüm Araştırma Makaleleri
Yazarlar

Mehmet Yücenurşen

Erken Görünüm Tarihi 21 Haziran 2022
Yayımlanma Tarihi 27 Haziran 2022
Yayımlandığı Sayı Yıl 2022 Cilt: 24 Sayı: 42

Kaynak Göster

APA Yücenurşen, M. (2022). Türkiye’de Yayınlanan Entegre Raporların Kalitesi ve Firma Değeri İlişkisi. Karamanoğlu Mehmetbey Üniversitesi Sosyal Ve Ekonomik Araştırmalar Dergisi, 24(42), 343-358.

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