BİLGİYE ERİŞİM MERKEZİ NE YENİ GELEN YAYINLAR:

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1 1144 KKAASSI IIM CCUUMAA SSAAYYI II: : BİLGİYE ERİŞİM MERKEZİ NE YENİ GELEN YAYINLAR: Üstün, Rıfat. İmalat işletmelerinde çözümlü yönetim muhasebesi problemleri. İstanbul : Bilim Teknik Yayınevi, 1998 Bu eser dört bölümden oluşmaktadır. Çalışmanın birinci bölümünde imalat işletmelerinin muhasebe analizi, ikinci bölümde planlaması, üçüncü bölümde kontrolü, dördüncü bölümde ise özel yönetim kararlarına ilişkin teknikler çözümlü örnek sorular ile anlatılmıştır. İİ SS MM MM MM OO BB i l gg i yy ee EE rr i şş im i MM ee rr kk ee zz i 1

2 Resmi Gazete YÜRÜTME VE İDARE BÖLÜMÜ BAKANLAR KURULU KARARLARI 2008/14255 Hayvancılığın Desteklenmesi Hakkında Kararda Değişiklik Yapılmasına İlişkin Karar 2008/14265 Tütün Üretiminden Vazgeçip Alternatif Ürün Yetiştiren Üreticilerin Desteklenmesine Dair Karar 2008/14266 Tarımsal Faaliyette Kullanılan Mazot ve Kimyevi Gübre İçin Çiftçilere 2009 Yılında Alan Bazlı Destekleme Ödemesi Yapılmasına Dair Karar 2008/14267 Çiftlik Muhasebe Veri Ağı Katılım Desteğine Dair Karar 2008/14268 Çevre Amaçlı Tarımsal Arazilerin Korunması Programını Tercih Eden Üreticilerin Desteklenmesine İlişkin Karar 2008/14296 İstanbul İli, Büyükçekmece İlçesi, Hadımköy Mevkiinde Bulunan Bazı Taşınmazların, Hadımköy Tem Üstgeçit Köprü Genişletilmesi Yol, Kavşak Uygulama Projesi Kapsamında Kalmaları Nedeniyle İstanbul Büyükşehir Belediyesi Tarafından Acele Kamulaştırılması Hakkında Karar YÖNETMELİKLER Devlet Malzeme Ofisi Mal Alımları Denetim, Muayene ve Tesellüm Yönetmeliği Kamu Kurum ve Kuruluşlarının Devlet Malzeme Ofisinden Yapacakları Mal ve Malzeme Taleplerine İlişkin Yönetmelik Devlet Malzeme Ofisi Basım Müessesesi Müdürlüğü Satınalma Yönetmeliğinin Yürürlükten Kaldırılmasına Dair Yönetmelik Devlet Malzeme Ofisi Basım Müessesesi Müdürlüğü Satış Yönetmeliğinin Yürürlükten Kaldırılmasına Dair Yönetmelik Devlet Malzeme Ofisi Satınalma Yönetmeliği Devlet Malzeme Ofisi Satış Yönetmeliği Başkent Üniversitesi Tıp Fakültesi Eğitim-Öğretim ve Sınav Yönetmeliği TEBLİĞ Zorunlu Deprem Sigortası Tarife ve Talimatında Değişiklik Yapılmasına İlişkin Tarife ve Talimat Yabancı Kitap Ve Süreli Yayınlar The International Journal of Accounting Volume 43, Issue 2, Pages (2008) The impact of the Multi-jurisdiction Disclosure System on audit fees of cross-listed Canadian firms Pages Joseph H. Callaghan, Mohinder Parkash, Rajeev Singhal Abstract The Multi-jurisdiction Disclosure System (MJDS), a treaty between Canada and the United States (U.S.), was intended to facilitate the cross-listing of a firm's securities in the neighboring country. Under this system, eligible Canadian companies are allowed to use home-country documents to meet U.S. disclosure requirements and these documents are generally not reviewed by the Securities and Exchange Commission İİ SS MM MM MM OO BB i l gg i yy ee EE rr i şş im i MM ee rr kk ee zz i 2

3 (SEC). We posit that the single-reporting requirement and lower SEC scrutiny may result in lower audit fees for MJDS firms. Based on audit-fee disclosures mandated by the SEC rule-making authority granted by the Sarbanes Oxley Act of 2002, we find a negative association between audit fees paid by U.S. cross-listed Canadian companies and their use of the MJDS. This result suggests that the lower audit fees provide an economic incentive to use the MJDS. Thus, our study provides evidence that the implementation of the MJDS may help facilitate cross-border listings by reducing audit costs. Additionally, this study confirms, for Canadian firms, some of the audit-fee determinants reported in earlier studies. 2. Background and research hypothesis 3. Research design and empirical results 3.1. Research design 3.2. Sample 3.3. Regression results 3.4. Additional analyses 4. Concluding remarks Market perceptions of discretionary accruals by debt renegotiating firms during economic downturn Pages Kamran Ahmed, Jayne M. Godfrey, Norman M. Saleh Abstract This study addresses how a stock market prices earnings components around a sudden and severe economic downturn. In particular, the study examines the market valuation of discretionary accruals for debt renegotiating Malaysian firms during the Asian financial crisis. Our analysis shows that negative discretionary accruals for debt renegotiating firms are associated with higher market values of equity and are not related to the firms' future earnings. These findings are consistent with investors placing İİ SS MM MM MM OO BB i l gg i yy ee EE rr i şş im i MM ee rr kk ee zz i 3

4 a positive value on the probability that negative accruals increase the likelihood that concessions can be extracted from lenders during renegotiation. In contrast, discretionary accruals for a control sample of non-debt renegotiating firms are not significantly associated with stock prices but are positively associated with future earnings. 2. Institutional background: financial crisis and corporate debt during the economic crisis in Malaysia 3. Hypothesis development 4. Research design and sample selection 4.1. The valuation model 4.2. Computation of discretionary accruals 4.3. Sample selection 5. Results 5.1. Analysis of discretionary accruals 5.2. Descriptive statistics and correlations 5.3. Regression results 5.4. Additional tests 6. Discretionary accruals and future performance 7. Summary and conclusions Acknowledgements Do auditing standards improve the accounting disclosure and information environment of public companies? Evidence from the emerging markets in China Pages Heibatollah Sami, Haiyan Zhou Abstract In this paper, we investigate the impact of the implementation of a set of new auditing standards in 1996 on the information environment in the emerging markets in China. İİ SS MM MM MM OO BB i l gg i yy ee EE rr i şş im i MM ee rr kk ee zz i 4

5 Because the implementation of such standards can increase the quality and/or quantity of accounting disclosures, it can be conceptualized as an improvement in the information environment of public companies. We investigate the improvement in accounting disclosure and information environment from both the market perspective and the accounting perspective. First, consistent with the information economics literature (e.g., [Holthausen, R., & Verrecchia, R., (1990). The effect of informedness and consensus on price and volume behavior. The Accounting Review, 65, ]), we find that companies experience a significant increase in trading volume and price volatility subsequent to the implementation of the standards. Second, consistent with the literature on earnings management (e.g., [Chen, C. W. K., & Yuan, H. Q., (2004). Earnings management and capital resource allocation: evidence from China's accounting-based regulation of right issue. The Accounting Review, 79, , Jian, M., & Wong, T. J., (2004). Earnings management and tunneling through related party transactions: evidence from Chinese corporate groups. Working Paper, Nanyang Technological University and Hong Kong University of Science and Technology]), we find a decrease in earnings management and, hence, an increase in quality of earnings. Finally, we find a decrease in the synchronicity of stock prices and, hence, an increase in the quality of firm-specific information available to investors, which is consistent with the literature on price synchronicity (e.g., [Morck, R., Yeung, B., & Yu, W., (2000). The information content of stock markets: why do emerging markets have synchronous stock price movements? Journal of Financial Economics, 58, ]). Our results have significant implications for standard setters, regulators, researchers, managers, and investors in general and those in the emerging markets in particular. 2. Institutional background of Chinese stock markets and disclosure practice 3. Literature review and hypotheses development 4. Research design 4.1. Investigating the impact on the information precision Trading volume model Price volatility model 4.2. Investigating the impact on earnings quality İİ SS MM MM MM OO BB i l gg i yy ee EE rr i şş im i MM ee rr kk ee zz i 5

6 4.3. Investigating the impact on the quality of firm-specific information 5. Empirical results 5.1. The impact of increased disclosure on information precision Long window tests Short window tests 5.2. The impact on earnings quality 5.3. The impact on the quality of firm-specific information 5.4. Robustness check 6. Conclusions and implications Acknowledgements Discussant comments for Do auditing standards improve the accounting disclosure and information environment of public companies? Evidence from the emerging markets in China Pages In-Mu Haw 2. Do auditing standards matter in China? 3. Are increased trading volume and price volatility the result of the new auditing standards? 4. Is a decrease in earnings management due to the new auditing standards? 5. Can the B-share market serve as a control for the A-share market? 6. Summary of discussion Reply to discussant comments on Do auditing standards improve the accounting disclosure and information environment of public companies? Evidence from the emerging markets in China Pages Heibatollah Sami, Haiyan Zhou İİ SS MM MM MM OO BB i l gg i yy ee EE rr i şş im i MM ee rr kk ee zz i 6

7 2. Do auditing standards matter in China? 3. Are increased trading volume and price volatility the result of new auditing standards? 4. Is the decrease in earnings management due to the new auditing standards? 5. Can the B-share market serve as a control for the A-share market? 6. Conclusion Incentives for risk reporting A discretionary disclosure and cheap talk approach Pages Michael Dobler Abstract This paper adopts and reviews discretionary disclosure and cheap talk models to analyze risk reporting incentives and their relation to regulation. Given its inherent discretion, risk reporting depends on disclosure incentives. To assess these incentives the analytical models consider risk reporting as an endogenous feature, thereby providing a benchmark to discuss regulatory attempts. Particularly, discretionary disclosure models refer to verified disclosure, e.g., on risk factors or risk management, whereas cheap talk models refer to unverified disclosure, like managerial forecasts on the impact of risk factors. This provides an analytically-based framework for discussion. Unlike prior literature, which focuses on disclosure cost, I argue that uncertainty of information endowment and issues of credible communication can explain restricted risk reporting observed empirically. Linking regulatory attempts to these restrictions implies that regulation may mitigate the incentives-driven restrictions to some extent, but can have adverse effects on risk reporting. I particularly discuss the link between effective risk monitoring and the precision of risk reporting; the ex post assessment and usefulness of managerial forecasts on impacts of risk factors; the claimed decreasing cost of capital by mandatory risk reporting; and the threat of selffulfilling prophecies. While the discussion has implications for both specific risk İİ SS MM MM MM OO BB i l gg i yy ee EE rr i şş im i MM ee rr kk ee zz i 7

8 reporting requirements and empirical research, overall results suggest that we should not overestimate the informativeness of risk reporting even in a regulated environment. 2. Background 2.1. Characterization of risk reporting 2.2. Disclosure rules 2.3. Empirical evidence 3. Discretionary disclosure and cheap talk models on risk reporting 3.1. Characteristics and structure 3.2. Discretionary disclosure models on verified risk reporting Disclosure cost Uncertainty of information availability 3.3. Cheap talk models on unverified risk reporting Single-period cheap talk Multi-period cheap talk 4. Implications and discussion 4.1. Incentives versus regulation revisited 4.2. Endowment of risk information 4.3. Enforcement of risk reporting 4.4. Mandating risk reporting 4.5. Specific risk reporting requirements 5. Conclusion Acknowledgements İİ SS MM MM MM OO BB i l gg i yy ee EE rr i şş im i MM ee rr kk ee zz i 8