Research Article
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MUHASEBE MANİPÜLASYONUNU ETKİLEYEN ŞİRKETE ÖZGÜ FAKTÖRLERİN ANALİZİ: BİST SINAİ ŞİRKETLERİNDE BİR UYGULAMA

Year 2023, Volume: 23 Issue: 70, 69 - 88, 15.09.2023
https://doi.org/10.55322/mdbakis.1239522

Abstract

Bu çalışmanın amacı, muhasebe manipülasyonunu etkileyen şirkete özgü faktörlerin analiz edilmesidir.
Çalışmanın örneklemini, Borsa İstanbul (BİST) Sınai Endeksi’nde işlem gören ve 2011-2021 yılları arasında finansal verilerine kesintisiz olarak ulaşılabilen 100 şirket oluşturmaktadır. Çalışmanın bağımlı değişkeni olan muhasebe manipülasyonu Beneish (1999) modeli ile hesaplanmıştır. Çalışmanın bağımsız değişkenleri; cari oran, alacak devir hızı oranı, finansal kaldıraç oranı, aktif karlılık oranı, aktif büyüme oranı ve şirket büyüklüğü şirkete özgü faktörler olmak üzere kullanılmıştır. Çalışmanın analizi, tesadüfi etkili panel lojistik regresyon yöntemi ile gerçekleştirilmiştir. Analiz bulguları, muhasebe manipülasyonu ile alacak devir hızı oranı ve aktif büyüme oranı arasında pozitif yönde ve istatistiksel olarak anlamlı bir ilişki olduğunu, şirket büyüklüğü ile ise arasında negatif yönde ve istatistiksel olarak anlamlı bir ilişki olduğunu göstermektedir.

References

  • Akay, E. Ç. (2018). Panel ikili nitel tercih modelleri. S. Güriş (Ed.). Uygulamalı panel veri ekonometrisi (s. 203- 223). Der Yayınları.
  • Akdoğan, N., & Tenker, N. (2007). Finansal tablolar ve mali analiz teknikleri. Gazi Kitabevi.
  • Alexander, N., & Hengky, H. (2017). Factors affecting earnings management in the Indonesian stock exchange. Journal of Finance and Banking Review, 2(2), 8-14.
  • Ali, U., Noor, M. A., Khurshid, M. K., & Mahmood, A. (2015). Impact of firm size on earnings management; a study of textile sector of Pakistan. European Journal of Business and Management, 7(28), 47-56. doi:10.2139/ ssrn.2698317
  • Aslanoğlu, S., Cengiz, S., Dinç, Y., & Dilsiz, M. (2016). Yaratıcı muhasebe uygulamalarının bağımsız denetim kalitesi üzerine etkisi: BİST’de bir uygulama. Muhasebe ve Finansman Dergisi(69), 1-24. doi:10.25095/mu-fad.396655
  • Asteriou, D., & Hall, S. G. (2011). Applied econometrics. Palgra& Macmillan.
  • Bassiouny, S. W. (2016). The impact of firm characteristics on earnings management: an empirical study on the listed firms in Egypt. Journal of Business and Retail Management Research (JBRMR), 10(3), 34-45.
  • Bayazıtlı, E., Çelik, O., & Gürdal, K. (2015). Genel muhasebe. Siyasal Kitabevi.
  • Beneish, M. D. (1999). The detection of earnings manipulation. Financial Analysts Journal, 55(5), 24-36. doi:10.2469/faj.v55.n5.2296
  • Cameron, A. C., & Triverdi, P. K. (2009). Microeconometrics using stata . Stata Press Publication .
  • Cengiz, S., Gör, Y., & Terzi, S. (2016). Kurumsal yönetim ve kazanç yönetimi arasındaki ilişki: borsa istanbul’da işlem gören şirketler üzerine uygulama. Uluslararası Yönetim İktisat ve İşletme Dergisi (ICAFR 16 Özel Sayısı), 756-770.
  • Charfeddine, L., Riahi, R., & Omri, A. (2013). The determinants of earnings management in developing count-ries:a study in the Tunisian context. The IUP Journal of Corporate Governance, 12(1), 35-49.
  • Copeland, R. M. (1968). Income smoothing. Journal of Accounting Research, 6, 101-116. doi:10.2307/2490073.
  • Cuong, N. T., & Ha, T. (2018). Influence of financial ratios on earnings management: evidence from Vietnam stock exchange market. Journal of Insurance and Financial Management, 4(1), 57-77.
  • DeAngelo, L. E. (1986). Accounting numbers as market valuation substitutes: a study of management buyouts of public stockholders. The Accounting Review, 61(3), 400-420.
  • Dechow, P. M., Sloan, R. G., & Sweeney, A. P. (1995). Detecting earnings management. The Accounting Review, 70(2), 193-225.
  • Demirhan, A. (2019). Panel logit modelleri: bankacılık sektörü üzerine bir uygulama. Maliye ve Finans Yazıla-rı(111), 341-356. doi:10.33203/mfy.525586.
  • Ghazali, A. W., Shafie, N. A., & Sanusi, Z. M. (2015). Earnings management: an analysis of opportunistic beha-viour, monitoring mechanism and financial distress. Procedia Economics and Finance, 28, 190-201. doi:10.1016/ S2212-5671(15)01100-4 .
  • Gozali, E. O., Hamzah, R. S., C. N., & Octari, M. (2021). Firm characteristics and earnings management in listed Singaporean corporations. Jurnal Riset Akuntansi Kontemporer, 13(2), 72-81. doi:10.23969/jrak.v13i2.4102 Gujarati, D. N. (2003). Basic econometrics. McGraw- Hill/Irwin.
  • Healy, P. M. (1985). The effect of bonus schemes on accounting decisions. Journal of Accounting and Economics, 7, 85-107.
  • Healy, P., & Wahlen, J. (1999). A review of the earnings management literature and its implications for standard setting. Accounting Horizons, 13(4), 365-383.
  • Jones, J. J. (1991). Earnings management during import relief investigations. Journal of Accounting Research, 29(2), 193-228.
  • Jones, M. J. (2011). Creative accounting, fraud and ınternational accounting scandals. John Wiley & Sons. Jonick, C. (2017). Principles of financial accounting. University of North Georgia Press.
  • Kara, M. (2022). Kazanç yönetimi ile likidite oranları arasındaki ilişki: BİST 30 uygulaması. İnönü Üniversitesi Uluslararası Sosyal Bilimler Dergisi , 11(1), 139-154. doi:10.54282/inijoss.1069291.
  • Khanh, H. T., & Khuong, N. V. (2018). International journal of economics and financial issues audit quality, firm characteristics and real earnings management: the case of listed Vietnamese firms. International Journal of Eco¬nomics and Financial Issues, 8(4), 243-249.
  • Kothari, S., Leone, A. J., & Wasley, C. E. (2005). Performance matched discretionary accrual measures. Journal of Accounting and Economics, 39, 163-197. doi:10.1016/j.jacceco.2004.11.002.
  • Körpi, M., Civan, M., & Kara, E. (2016). Hileli finansal raporlama riskini ortaya çıkaran faktörler: BIST’da bir uygulama. Journal of Accounting, Finance and Auditing Studies , 2(3), 271-291.
  • Leuz, C., Nanda, D., & Wysocki, P. D. (2003). Earnings management and investor protection: an international comparison. Journal of Financial Economics, 69(3), 505-527. doi:10.1016/S0304-405X(03)00121-1.
  • Marchellina, V., & Firnanti, F. (2021). Financial ratio and company characteristics effect on earnings manage-ment. Proceedings of the Ninth International Conference on Entrepreneurship and Business Management (ICEBM 2020). 174, s. 178-183. Atlantis Press. doi:10.2991/aebmr.k.210507.027.
  • Memiş, M. Ü., & Çetenak, E. H. (2012). Kurumsal yönetimin kazanç yönetimi uygulamaları üzerine etkisi İMKB de işlem gören şirketler üzerine uygulama. Çukurova Üniversitesi Sosyal Bilimler Enstitüsü Dergisi, 21(3), 205- 224.
  • Moore, M. L. (1973). Management changes and discretionary accounting decisions. Journal of Accounting Rese¬arch, 11(1), 100-107.
  • Mulford, C. W., & Comiskey, E. E. (2002). The financial numbers game: detecting creative accounting practices. John Wiley & Sons, Inc.
  • Okka, O. (2009). Analitik finansal yönetim: teori ve problemler. Nobel Yayın Dağıtım.
  • Rakshit, D., & Paul, A. (2020). Earnings management and financial distress: an analysis of Indian textile compa¬nies. Nmims Journal of Economics and Public Policy(5), 40-53.
  • Rely, G. (2022). The effect of firm size and leverage on profit management with ownership structure as a mode-rating. International Journal of Economics, Social Science,Entrepreneurship and Technology (IJESET) , 1(2), 108-134. doi:10.55983/ijeset.v1i2.121.
  • Saleh, I., Afifa, M. A., & Haniah, F. (2020). Financial factors affecting earnings management and earnings qu-ality: new evidence from an emerging market. ACRN Journal of Finance and Risk Perspectives, 9(1), 198-216. doi:10.35944/jofrp.2020.9.1.014.
  • Schilit, H. M., & Perler, J. (2010). Financial shenanigans: how to detect accounting gimmicks &fraud in financial reports (3. b.). McGraw-Hill. Schipper, K. (1989). Commentary on earnings management. Accounting Horizons, 3(4), 91-102.
  • Schober, P., Boer, C., & Schwarte, L. A. (2018). Correlation coefficients: appropriate use and interpretation. Anest¬hesia and Analgesia, 126(5), 1763-1768. doi:10.1213/ANE.0000000000002864.
  • Sevilengül, O. (2003). Genel muhasebe. Gazi Kitabevi.
  • Spathis, C. T. (2002). Detecting false financial statements using published data: some evidence from Greece. Ma¬nagerial Auditing Journal, 17(4), 179-191. doi:0.1108/02686900210424321.
  • Stolowy, H., & Breton, G. (2000, Haziran 28). A framework for the classification of accounts manipulations. HEC Accounting and Management Control Working Paper No. 708/2000. doi:10.2139/ssrn.263290.
  • Stolowy, H., & Breton, G. (2004). Accounts manipulation: a literature review and proposed conceptual framework. Review of Accounting and Finance, 3(1), 5-92. doi:10.1108/eb043395.
  • Suadiye, G. (2021). Kazanç yönetiminin motivasyon kaynakları ve kurumsal yönetim: borsa İstanbul’da işlem gören şirketler üzerine ampirik bir inceleme. Muhasebe ve Denetime Bakış, 21(63), 223-248.
  • Swastika, D. L. (2013). Corporate governance, firm size, and earning management: evidence in Indonesia stock exchange . IOSR Journal of Business and Management, 10(4), 77-82. doi:10.9790/487X-1047782.
  • Şen,S.(2016,Kasım10).Kategorik veri analizi. https://sedatsen.files.wordpress.com/2016/11/10-sunum.pdf
  • Tatoğlu, F. Y. (2020). Panel veri ekonometrisi: stata uygulamalı. Beta Basım Yayım.
  • Trussel, J. (2003). Assessing potential accounting manipulation: the financial characteristics of charitable orga-nizations with higher than expected program-spending ratios. Nonprofit and Voluntary Sector Quarterly, 32(4), 616-634. doi:10.1177/0899764003257459.
  • Uwuigbe, U., Uwuigbe, O. R., & Bernard, O. (2015). Assessment of the effects of firms’ characteristics on earnin-gs management of listed firms in Nigeria. Asian Economic and Financial Review, 5(2), 218-228. doi:10.18488/ journal.aefr/2015.5.2/102.2.218.228.
  • Varıcı, İ., & Er, B. (2013). Muhasebe manipülasyonu ve firma performansı ilişkisi: İMKB uygulaması. Ege Aka-demik Bakış, 13(1), 43-52.
  • Watts, R. L., & Zimmerman, J. L. (1990). Positive accounting theory: a ten year perspective. The Accounting Re-view, 65(1), 131-156.
  • Wuryani, E. (2012). Company size in response to earnings management and company performance. Journal of Economics, Business, and Accountancy Ventura, 15(3), 491-506.
  • Zor, İ., & Korga, S. (2020). Türkiye muhasebe ve finansal raporlama standartlarının kazanç yönetimi uygulamala¬rına etkisi. Muhasebe ve Finansman Dergisi, 86, 1-24. doi:10.25095/mufad.710060.
Year 2023, Volume: 23 Issue: 70, 69 - 88, 15.09.2023
https://doi.org/10.55322/mdbakis.1239522

Abstract

References

  • Akay, E. Ç. (2018). Panel ikili nitel tercih modelleri. S. Güriş (Ed.). Uygulamalı panel veri ekonometrisi (s. 203- 223). Der Yayınları.
  • Akdoğan, N., & Tenker, N. (2007). Finansal tablolar ve mali analiz teknikleri. Gazi Kitabevi.
  • Alexander, N., & Hengky, H. (2017). Factors affecting earnings management in the Indonesian stock exchange. Journal of Finance and Banking Review, 2(2), 8-14.
  • Ali, U., Noor, M. A., Khurshid, M. K., & Mahmood, A. (2015). Impact of firm size on earnings management; a study of textile sector of Pakistan. European Journal of Business and Management, 7(28), 47-56. doi:10.2139/ ssrn.2698317
  • Aslanoğlu, S., Cengiz, S., Dinç, Y., & Dilsiz, M. (2016). Yaratıcı muhasebe uygulamalarının bağımsız denetim kalitesi üzerine etkisi: BİST’de bir uygulama. Muhasebe ve Finansman Dergisi(69), 1-24. doi:10.25095/mu-fad.396655
  • Asteriou, D., & Hall, S. G. (2011). Applied econometrics. Palgra& Macmillan.
  • Bassiouny, S. W. (2016). The impact of firm characteristics on earnings management: an empirical study on the listed firms in Egypt. Journal of Business and Retail Management Research (JBRMR), 10(3), 34-45.
  • Bayazıtlı, E., Çelik, O., & Gürdal, K. (2015). Genel muhasebe. Siyasal Kitabevi.
  • Beneish, M. D. (1999). The detection of earnings manipulation. Financial Analysts Journal, 55(5), 24-36. doi:10.2469/faj.v55.n5.2296
  • Cameron, A. C., & Triverdi, P. K. (2009). Microeconometrics using stata . Stata Press Publication .
  • Cengiz, S., Gör, Y., & Terzi, S. (2016). Kurumsal yönetim ve kazanç yönetimi arasındaki ilişki: borsa istanbul’da işlem gören şirketler üzerine uygulama. Uluslararası Yönetim İktisat ve İşletme Dergisi (ICAFR 16 Özel Sayısı), 756-770.
  • Charfeddine, L., Riahi, R., & Omri, A. (2013). The determinants of earnings management in developing count-ries:a study in the Tunisian context. The IUP Journal of Corporate Governance, 12(1), 35-49.
  • Copeland, R. M. (1968). Income smoothing. Journal of Accounting Research, 6, 101-116. doi:10.2307/2490073.
  • Cuong, N. T., & Ha, T. (2018). Influence of financial ratios on earnings management: evidence from Vietnam stock exchange market. Journal of Insurance and Financial Management, 4(1), 57-77.
  • DeAngelo, L. E. (1986). Accounting numbers as market valuation substitutes: a study of management buyouts of public stockholders. The Accounting Review, 61(3), 400-420.
  • Dechow, P. M., Sloan, R. G., & Sweeney, A. P. (1995). Detecting earnings management. The Accounting Review, 70(2), 193-225.
  • Demirhan, A. (2019). Panel logit modelleri: bankacılık sektörü üzerine bir uygulama. Maliye ve Finans Yazıla-rı(111), 341-356. doi:10.33203/mfy.525586.
  • Ghazali, A. W., Shafie, N. A., & Sanusi, Z. M. (2015). Earnings management: an analysis of opportunistic beha-viour, monitoring mechanism and financial distress. Procedia Economics and Finance, 28, 190-201. doi:10.1016/ S2212-5671(15)01100-4 .
  • Gozali, E. O., Hamzah, R. S., C. N., & Octari, M. (2021). Firm characteristics and earnings management in listed Singaporean corporations. Jurnal Riset Akuntansi Kontemporer, 13(2), 72-81. doi:10.23969/jrak.v13i2.4102 Gujarati, D. N. (2003). Basic econometrics. McGraw- Hill/Irwin.
  • Healy, P. M. (1985). The effect of bonus schemes on accounting decisions. Journal of Accounting and Economics, 7, 85-107.
  • Healy, P., & Wahlen, J. (1999). A review of the earnings management literature and its implications for standard setting. Accounting Horizons, 13(4), 365-383.
  • Jones, J. J. (1991). Earnings management during import relief investigations. Journal of Accounting Research, 29(2), 193-228.
  • Jones, M. J. (2011). Creative accounting, fraud and ınternational accounting scandals. John Wiley & Sons. Jonick, C. (2017). Principles of financial accounting. University of North Georgia Press.
  • Kara, M. (2022). Kazanç yönetimi ile likidite oranları arasındaki ilişki: BİST 30 uygulaması. İnönü Üniversitesi Uluslararası Sosyal Bilimler Dergisi , 11(1), 139-154. doi:10.54282/inijoss.1069291.
  • Khanh, H. T., & Khuong, N. V. (2018). International journal of economics and financial issues audit quality, firm characteristics and real earnings management: the case of listed Vietnamese firms. International Journal of Eco¬nomics and Financial Issues, 8(4), 243-249.
  • Kothari, S., Leone, A. J., & Wasley, C. E. (2005). Performance matched discretionary accrual measures. Journal of Accounting and Economics, 39, 163-197. doi:10.1016/j.jacceco.2004.11.002.
  • Körpi, M., Civan, M., & Kara, E. (2016). Hileli finansal raporlama riskini ortaya çıkaran faktörler: BIST’da bir uygulama. Journal of Accounting, Finance and Auditing Studies , 2(3), 271-291.
  • Leuz, C., Nanda, D., & Wysocki, P. D. (2003). Earnings management and investor protection: an international comparison. Journal of Financial Economics, 69(3), 505-527. doi:10.1016/S0304-405X(03)00121-1.
  • Marchellina, V., & Firnanti, F. (2021). Financial ratio and company characteristics effect on earnings manage-ment. Proceedings of the Ninth International Conference on Entrepreneurship and Business Management (ICEBM 2020). 174, s. 178-183. Atlantis Press. doi:10.2991/aebmr.k.210507.027.
  • Memiş, M. Ü., & Çetenak, E. H. (2012). Kurumsal yönetimin kazanç yönetimi uygulamaları üzerine etkisi İMKB de işlem gören şirketler üzerine uygulama. Çukurova Üniversitesi Sosyal Bilimler Enstitüsü Dergisi, 21(3), 205- 224.
  • Moore, M. L. (1973). Management changes and discretionary accounting decisions. Journal of Accounting Rese¬arch, 11(1), 100-107.
  • Mulford, C. W., & Comiskey, E. E. (2002). The financial numbers game: detecting creative accounting practices. John Wiley & Sons, Inc.
  • Okka, O. (2009). Analitik finansal yönetim: teori ve problemler. Nobel Yayın Dağıtım.
  • Rakshit, D., & Paul, A. (2020). Earnings management and financial distress: an analysis of Indian textile compa¬nies. Nmims Journal of Economics and Public Policy(5), 40-53.
  • Rely, G. (2022). The effect of firm size and leverage on profit management with ownership structure as a mode-rating. International Journal of Economics, Social Science,Entrepreneurship and Technology (IJESET) , 1(2), 108-134. doi:10.55983/ijeset.v1i2.121.
  • Saleh, I., Afifa, M. A., & Haniah, F. (2020). Financial factors affecting earnings management and earnings qu-ality: new evidence from an emerging market. ACRN Journal of Finance and Risk Perspectives, 9(1), 198-216. doi:10.35944/jofrp.2020.9.1.014.
  • Schilit, H. M., & Perler, J. (2010). Financial shenanigans: how to detect accounting gimmicks &fraud in financial reports (3. b.). McGraw-Hill. Schipper, K. (1989). Commentary on earnings management. Accounting Horizons, 3(4), 91-102.
  • Schober, P., Boer, C., & Schwarte, L. A. (2018). Correlation coefficients: appropriate use and interpretation. Anest¬hesia and Analgesia, 126(5), 1763-1768. doi:10.1213/ANE.0000000000002864.
  • Sevilengül, O. (2003). Genel muhasebe. Gazi Kitabevi.
  • Spathis, C. T. (2002). Detecting false financial statements using published data: some evidence from Greece. Ma¬nagerial Auditing Journal, 17(4), 179-191. doi:0.1108/02686900210424321.
  • Stolowy, H., & Breton, G. (2000, Haziran 28). A framework for the classification of accounts manipulations. HEC Accounting and Management Control Working Paper No. 708/2000. doi:10.2139/ssrn.263290.
  • Stolowy, H., & Breton, G. (2004). Accounts manipulation: a literature review and proposed conceptual framework. Review of Accounting and Finance, 3(1), 5-92. doi:10.1108/eb043395.
  • Suadiye, G. (2021). Kazanç yönetiminin motivasyon kaynakları ve kurumsal yönetim: borsa İstanbul’da işlem gören şirketler üzerine ampirik bir inceleme. Muhasebe ve Denetime Bakış, 21(63), 223-248.
  • Swastika, D. L. (2013). Corporate governance, firm size, and earning management: evidence in Indonesia stock exchange . IOSR Journal of Business and Management, 10(4), 77-82. doi:10.9790/487X-1047782.
  • Şen,S.(2016,Kasım10).Kategorik veri analizi. https://sedatsen.files.wordpress.com/2016/11/10-sunum.pdf
  • Tatoğlu, F. Y. (2020). Panel veri ekonometrisi: stata uygulamalı. Beta Basım Yayım.
  • Trussel, J. (2003). Assessing potential accounting manipulation: the financial characteristics of charitable orga-nizations with higher than expected program-spending ratios. Nonprofit and Voluntary Sector Quarterly, 32(4), 616-634. doi:10.1177/0899764003257459.
  • Uwuigbe, U., Uwuigbe, O. R., & Bernard, O. (2015). Assessment of the effects of firms’ characteristics on earnin-gs management of listed firms in Nigeria. Asian Economic and Financial Review, 5(2), 218-228. doi:10.18488/ journal.aefr/2015.5.2/102.2.218.228.
  • Varıcı, İ., & Er, B. (2013). Muhasebe manipülasyonu ve firma performansı ilişkisi: İMKB uygulaması. Ege Aka-demik Bakış, 13(1), 43-52.
  • Watts, R. L., & Zimmerman, J. L. (1990). Positive accounting theory: a ten year perspective. The Accounting Re-view, 65(1), 131-156.
  • Wuryani, E. (2012). Company size in response to earnings management and company performance. Journal of Economics, Business, and Accountancy Ventura, 15(3), 491-506.
  • Zor, İ., & Korga, S. (2020). Türkiye muhasebe ve finansal raporlama standartlarının kazanç yönetimi uygulamala¬rına etkisi. Muhasebe ve Finansman Dergisi, 86, 1-24. doi:10.25095/mufad.710060.
There are 52 citations in total.

Details

Primary Language Turkish
Subjects Business Administration
Journal Section Research Articles
Authors

İsrafil Zor 0000-0001-6073-7571

Evren Yanya 0000-0001-5275-833X

Publication Date September 15, 2023
Submission Date January 19, 2023
Acceptance Date May 12, 2023
Published in Issue Year 2023 Volume: 23 Issue: 70

Cite

APA Zor, İ., & Yanya, E. (2023). MUHASEBE MANİPÜLASYONUNU ETKİLEYEN ŞİRKETE ÖZGÜ FAKTÖRLERİN ANALİZİ: BİST SINAİ ŞİRKETLERİNDE BİR UYGULAMA. Muhasebe Ve Denetime Bakış, 23(70), 69-88. https://doi.org/10.55322/mdbakis.1239522