Researcher:
Toksöz, Tuba

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Tuba

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Toksöz

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Toksöz, Tuba

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2021 - 20222

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Researcher Of Publications: search.filters.isAuthorOfPublication.69cf9756-e638-4398-a0f1-6435b8b672a8

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    An investigation of how volatile financial analyst recommendations may affect managerial behaviour and financial reporting quality
    (Inderscience Publishers, 2022) Georgoula, Elizabeth; Department of Business Administration; Department of Business Administration; Iatridis, Georgios Emmanouil; Toksöz, Tuba; Other; Faculty Member; Department of Business Administration; College of Administrative Sciences and Economics; College of Administrative Sciences and Economics; N/A; 219582
    This study investigates how the volatility in analyst buy recommendations in the UK may affect managerial behaviour. It examines whether the adoption of earnings manipulation and other opportunistic behaviours, such as managing the reporting tone of press releases, financial statement complexity and CEO overconfidence, may lead to volatile buy recommendations. This study shows that the use of earnings manipulation, especially when companies' current performance differs from the forecast, is likely to result in volatile buy recommendations. Volatile buy recommendations are linked to greater financial statement complexity and higher tonal disagreement between press releases and media articles. Analysts issue less buy recommendations when financial statements are complex or when overconfident CEO behaviour is reported. Companies with volatile buy recommendations are more likely to experience greater stock price crash risk, especially when accompanied by CEO overconfidence and tonal disagreement.
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    Factors affecting the timeliness of financial reports: the case of Borsa Istanbul
    (Selçuk Üniversitesi Sosyal Bilimler Meslek Yüksekokulu, 2021) Özdemir, Fevzi Serkan; Department of Business Administration; Toksöz, Tuba; Faculty Member; Department of Business Administration; College of Administrative Sciences and Economics; 219582
    Financial reporting aims to reveal the financial position and performance of the reporting entities so that this useful information enables stakeholders to make and evaluate their economic decisions. The qualitative characteristics that financial information should possess are listed in the conceptual framework. Although financial information must have qualitative characteristics in theory, it is an important research question whether the reports presented to public have these qualities, in practice. Therefore, there are many studies in the literature that investigate this question. This study explores the determinants of financial reporting timeliness, one of the secondary qualitative characteristics of financial information. More specifically, this study aims to examine the factors affecting the date when the financial reports are disclosed to the public with a sample of annual financial reports (with 680 observations) of 136 companies traded in Borsa Istanbul Industrials Index (BIST: XUSIN) continuously between 2015 and 2019. Empirical findings show that financial reporting delay is decreasing in firm size, higher liquidity, receiving an unqualified audit opinion, being audited by one of the Big4 accounting firm and experiencing earnings growth. Consistent with prior studies, reporting a loss in the current period, preparing a consolidated financial statement and earnings management appear to lead to an increase in reporting delay. / Finansal raporlamada amaç, raporlayan işletmenin finansal durumunu ve performansını ortaya koymak; bu suretle tüm paydaşların ekonomik kararlarına yarar sağlayacak nitelikli finansal bilgiyi sunmaktır. Nitekim kavramsal çerçevede finansal bilginin taşıması gereken niteliksel özellikler sıralanmıştır. Teorik olarak finansal bilginin niteliksel özellikleri taşıması bir gereklilik olsa da pratikte kamuoyu ile paylaşılmış olan raporların belirtilen bu nitelikleri gerçekten haiz olup olmadığı önemli bir araştırma sorusu olmaktadır ve literatürde de bu soruya cevap arayan çok sayıda çalışma yer almaktadır. Bu çalışmanın amacı da ikincil niteliksel özelliklerden biri olan zamanlılık bağlamında, 2015 – 2019 yılları arasında Borsa İstanbul (BIST) Sınai Endeks’te kesintisiz olarak işlem gören 136 şirketin anılan 5 hesap dönemindeki, yıllık finansal raporlarından oluşan örneklem ile (680 gözlem ile) finansal raporların kamuoyuna açıklandığı tarih üzerinde etkili olan faktörlerin incelenmesi ve bu suretle finansal raporlamanın zamanlılığına etki eden faktörlerin belirlenmesidir. Ampirik bulgular; firma büyüklüğü, yüksek likidite, olumlu denetim görüşü almış olmak, 4 büyük bağımsız denetim firması tarafından denetlenmiş olmak ve karlılıktaki artış finansal raporlamadaki gecikmeyi kısaltan etkenler olarak belirlenmiştir. Buna karşın, cari dönemi zararla kapatmış olmak ve finansal tabloların konsolidasyona tabi tutulması zorunluluğunun literatürde de belirtildiği gibi raporlamada gecikme süresini arttırdığı tespit edilmiştir.