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Finansal tablolarda şerefiye ve maddi olmayan duran varlıkların değer ilişkisi ve güvenilirliği: İstanbul Menkul Kıymetler Borsası uygulaması

Value relevance and reliability of goodwill and intangibles on financial statements: the case of Istanbul Stock Exchange

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Abstract (2. Language): 
Failure in reflecting the impact of intangibles on financial statements on the current and future market value of the company leads an investor that financial statements are insufficient to present an unbiased (true and fair) view of the firm's financial position. In that context the aim of this study is to examine financial reporting reliability of goodwill and intangibles and value relevance of financial reports. To observe the effects of accounting variables on market value of equity Feltham and Ohlson Model (1995) is employed and panel data method is applied which handles both cross sections and time series. Results indicate that the abnormal operating earnings is the main market value driver whereas the coefficients of goodwill and intangibles imply that there is lack of reliability in financial reporting.
Abstract (Original Language): 
Finansal tablolarda maddi olmayan duran varlıkların işletmelerin mevcut ve gelecekteki piyasa değerini yansıtmada yetersiz kalması, yatırımcılara işletmenin finansal durumunun tarafsız (doğru ve adil) bir şekilde sunulamamasına neden olmaktadır. Bu kapsamda, çalışmada finansal raporlamada güvenilirliğin ve başta şerefiye ve maddi olmayan duran varlıklar olmak üzere finansal tablolardaki değer ilişkisinin incelenmesi amaçlanmıştır. Muhasebe değişkenlerinin özsermayenin piyasa değeri üzerindeki etkisini incelemek amacıyla Feltham ve Ohlson Modeli’nden (1995) hareket edilmiş ve yatay kesit ve zaman serilerini birlikte ele alabilen panel data yöntemi uygulanmıştır. Sonuçlar, şerefiye ve maddi olmayan duran varlık kalemlerinin finansal raporlamada güvenilirliğinin eksikliğine işaret ederken, artık faaliyet karının (abnormal operating earnings) piyasa değerinin esas belirleyicisi olduğunu göstermektedir.

REFERENCES

References: 

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