Bilgiye Erişim Merkezi ne Yeni Gelen Yayınlar

Transkript

1 2277 MAARRTT CCUUMAA SSAAYYI II: : Bilgiye Erişim Merkezi ne Yeni Gelen Yayınlar Atlı, Sibel. Basel II kapsamında kredi riski kavramı ve Türkiye de krizlerin kredi kredisine etkileri (Yüksek Lisans Tezi). İstanbul: Haliç Üniversitesi Sosyal Bilimler Enstitüsü, ÖZ Dört bölümden oluşan çalışmanın birinci bölümünde, Basel I ve Basel II nin oluşum süreçlerinden, Türkiye için öneminden ve firmalara getireceği avantajlardan bahsedilmiştir. İkinci bölümde kredi riski, piyasa riski, operasyonel risk kredi riski ve kredi riskini etkileyen faktörler, Basel II nin bankacılık açısından değerlendirilmesinden bahsedilmiştir. Üçüncü bölümde, kriz kavramı ve kredi riski ilişkisinden bahsedilmiştir. Dördüncü ve son bölümde, Basel I ve II nin Türkiye açısından önemine değinilmiştir. 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 TEBLİĞLER Kamu Sosyal Tesislerine İlişkin Tebliğ (Sayı: ) Çiftlik Muhasebe Veri Ağı Sistemine Dahil Olan Tarımsal İşletmelere Katılım Desteği Ödemesi Yapılmasına Dair Tebliğ (No: 2009/35) Gürcistan Menşeli Bazı Tarım ve İşlenmiş Tarım Ürünleri İthalatında Tarife Kontenjanı Uygulanmasına İlişkin Tebliğ'de Değişiklik Yapılması Hakkında Tebliğ Kimyasal Silahlar Sözleşmesi Ekinde Yer Alan Kimyasal Maddelerin İthaline İlişkin İthalat 2009/17 Sayılı Tebliğ de Değişiklik Yapılması Hakkında Tebliğ 4703 Sayılı Ürünlere İlişkin Teknik Mevzuatın Hazırlanması ve Uygulanmasına Dair Kanunla Düzenlenmiş Olan İdari Para Cezalarının Yeni Değerlerinin Duyurulmasına İlişkin Tebliğ (No: 2009/27) YARGI BÖLÜMÜ SAYIŞTAY KARARI Sayıştay Genel Kurulu İçtihadı Birleştirme Kararı (E.No: 2009/1, K.No: 5244/3) Yabancı Kitap Ve Süreli Yayınlar Journal of Accounting and Public Policy Volume 26, Issue 2, Pages (March-April 2007) Audit firm tenure and financial restatements: An analysis of industry specialization and fee effects Pages Jonathan D. Stanley, F. Todd DeZoort This study investigates the relation between audit firm tenure and clients financial restatements. Specifically, we extend the audit tenure literature by assessing restatement-based reporting failures using dimensions of auditor expertise and independence previously assumed to underlie short and long audit tenure problems. Short tenure expertise and independence effects are hypothesized using audit firm industry specialization and audit fees as proxies. Long tenure independence effects are hypothesized using nonaudit fees as a proxy. Using matched-sample logistic regression and 382 companies with and without financial restatements during , the results support prior findings by indicating a negative relation between the length of the auditor client relationship and the likelihood of restatement. For short tenure engagements, we find that auditor industry specialization and audit fees are negatively related to the likelihood of restatement. This result is consistent with concerns about 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 reduced audit quality due to a lack of client-specific knowledge and low audit fees on new audit engagements. Alternatively, the long tenure results indicate an insignificant relation between nonaudit fees and the likelihood of restatement. This finding contradicts independence concerns about nonaudit fees paid to entrenched auditors. 2. Literature and hypothesis development 2.1. Audit tenure effects 2.2. Audit firm expertise 2.3. Audit firm independence 3. Design and sample 3.1. Model specification 3.2. Sample development 4. Results 4.1. Overall tenure results 4.2. Short tenure results 4.3. Long tenure results 4.4. Sensitivity analysis 5. Discussion and conclusion Does implementation guidance affect opportunistic reporting and value relevance of earnings? Pages Jeff P. Boone, K.K. Raman In recent years, both the SEC (2003) and the FASB (2004) [Securities and Exchange Commission, Study Pursuant to Section 108(d) of the Sarbanes-Oxley Act of 2002 on the Adoption by the United States Financial Reporting System of a Principles- Based Accounting System. Securities and Exchange Commission, Washington, DC; the Financial Accounting Standards Board, On the road to an objectives-oriented 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 accounting system. Financial Accounting Series: The FASB Report (August 31), 1 5.] have indicated a need for accounting standards where principles are balanced by implementation guidance (i.e., a framework for exercising professional judgment). In this study, we take advantage of a jurisdictional split during whereby the same economic event (i.e., an impairment in oil and gas assets) in the extractive petroleum industry was accounted for by full cost firms under a SEC standard (Regulation SX 4-10) which provides extensive implementation guidance, and by successful efforts firms under a FASB standard (SFAS No. 121) that provided relatively little guidance for implementing the standard. We utilize this jurisdictional split (which provides a natural quasi-experiment) to evaluate whether the differential guidance for recognizing impairment losses provided by Reg. SX (for full cost firms) and SFAS No. 121 (for successful efforts firms) is associated with differences in opportunistic reporting (as proxied by an association between the reported write-downs and managerial incentives to report opportunistically) and differences in the value relevance of the write-downs (as proxied by their association with stock returns). Our findings are inconclusive as to whether implementation guidance limits opportunistic reporting, but are broadly consistent with the notion that such guidance potentially undermines the value relevance of accounting information. Collectively, our findings provide accounting policy makers with an additional piece of evidence with which to evaluate the role of implementation guidance in standard setting. 2. Accounting background and related research 2.1. Accounting background 2.2. Prior research 3. Research design 3.1. Opportunistic reporting Economic factors Incentive factors 3.2. Value relevance 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 4. Data and findings 4.1. Sample selection 4.2. Characteristics of the sample 4.3. Tests of opportunistic reporting 4.4. Tests of value relevance 4.5. Additional analysis 5. Concluding remarks Electric utility deregulation: Stranded costs vs. stranded benefits Pages Karen Nunez This study re-examines the electric utility market value-book value relation in light of the changing regulatory climate. The change in the market value-book value relation is examined by comparing the market-to-book ratio in the post-regulatory period to the regulatory period. Additionally, this paper compares the stock market s valuation of electric utility stranded costs (above market costs) to stranded benefits (below market costs). This paper demonstrates that electric utility market value and book value are no longer aligned. Additionally, this paper extends the research on deregulatory effects by documenting a differential market response to estimated stranded costs versus stranded benefits. 2. Background 2.1. Industry overview 2.2. Stranded costs and stranded benefits 3. Research methodology 3.1. Market values 3.2. Stranded costs vs. stranded benefits 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 3.3. Sample and data sources 4. Results 4.1. Market values 4.2. Stranded costs vs. stranded benefits 5. Conclusions Client importance and non-big 5 auditors reporting decisions Pages Allen K. Hunt, Ayalew Lulseged In this paper, we examine the effect of the trade-off between economic dependence and reputation protection on the link between client size and the audit reporting decisions of non-big 5 auditors. We find that non-big 5 auditors, like Big 5 auditors, do not allow their larger clients greater leeway to manage earnings. In fact, there is some evidence that non-big 5 auditors treat their larger clients more strictly. In addition, non-big 5 auditors, like Big 5 auditors, are at least as likely to issue a going-concern report to their potentially financially distressed larger clients as they are to their otherwise smaller clients. 2. Accounting accruals 2.1. Hypothesis development 2.2. The empirical model Dependent variable Independent variables 2.3. Data and descriptive statistics 2.4. Results from the accrual model Litigation risk Negative and positive discretionary accruals 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 Difference of variance test results 2.5. Additional analysis 3. The going-concern opinion decision 3.1. Hypothesis development 3.2. The empirical model 3.3. Data and descriptive statistics 3.4. Results from the logistic regression model Litigation risk 3.5. Additional analyses 4. Summary and conclusions Boards, ownership structure, and involuntary delisting from the New York Stock Exchange Pages Andreas Charitou, Christodoulos Louca, Nikos Vafeas This study examines whether the likelihood of becoming involuntarily delisted from NYSE is associated with a firm s board of directors and ownership characteristics. To this end we compare 161 firms that were delisted from NYSE between 1998 and 2004 to a set of industry and size-matched control firms. Consistent with our expectations, we find that the likelihood of delisting is related to a firm s governance characteristics. Our results on the importance of the board of directors are new to this setting and add to a large body of evidence linking corporate boards and ownership characteristics to corporate performance. 2. Background and research hypotheses 3. Data and methodology 3.1. Dataset 3.2. Methodology 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 4. Empirical results 5. Conclusions 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