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4
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245
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106
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.
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 companies traded in the manufacturing industry sector in the Istanbul 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.
Alan : Sosyal, Beşeri ve İdari Bilimler
Dergi Türü : Uluslararası
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