Bilgiye Erişim Merkezi ne Yeni Gelen Yayınlar

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1 1155 EEKKİ İİM PPEERRŞŞEEMBBEE SSAAYYI II: : Bilgiye Erişim Merkezi ne Yeni Gelen Yayınlar 6-Sigma kılavuzu. İstanbul: İstanbul Sanayi Odası, 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 Yenilikçilik ve Ar-Ge destekleri. İstanbul: İstanbul Sanayi Odası, Resmi Gazete YÜRÜTME VE İDARE BÖLÜMÜ BAKANLAR KURULU KARARI 2009/15462 Kültür ve Turizm Bakanlığının Taşra Teşkilatında Yer Alan Bursa Gemlik İlçe Halk Kütüphanesi Müdürlüğünün Kaldırılması Hakkında Karar BAŞBAKANLIĞA VEKÂLET ETME İŞLEMİ Başbakanlığa, Devlet Bakanı ve Başbakan Yardımcısı Bülent ARINÇ ın Vekâlet Etmesine Dair Tezkere BAKANLIKLARA VEKÂLET ETME İŞLEMİ Devlet Bakanı Mehmet Zafer ÇAĞLAYAN a, Kültür ve Turizm Bakanı Ertuğrul GÜNAY ın Vekâlet Etmesine Dair Tezkere Milli Savunma Bakanlığına, Devlet Bakanı Hayati YAZICI nın Vekâlet Etmesine Dair Tezkere Dışişleri Bakanlığına, Devlet Bakanı ve Başbakan Yardımcısı Ali BABACAN ın Vekâlet Etmesine Dair Tezkere Bayındırlık ve İskan Bakanlığına, Sanayi ve Ticaret Bakanı Nihat ERGÜN ün Vekâlet Etmesine Dair Tezkere Sağlık Bakanlığına, Çalışma ve Sosyal Güvenlik Bakanı Ömer DİNÇER in Vekâlet Etmesine Dair Tezkere Ulaştırma Bakanlığına, Maliye Bakanı Mehmet ŞİMŞEK in Vekâlet Etmesine Dair Tezkere Tarım ve Köyişleri Bakanlığına, Milli Eğitim Bakanı Nimet ÇUBUKÇU nun Vekâlet Etmesine Dair Tezkere Enerji ve Tabii Kaynaklar Bakanlığına, Devlet Bakanı Faruk Nafız ÖZAK ın Vekâlet Etmesine Dair Tezkere Çevre ve Orman Bakanlığına, Devlet Bakanı Faruk ÇELİK in Vekalet Etmesine Dair Tezkere 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 YÖNETMELİKLER 2009/15465 Merkezi Kayıt Kuruluşunun Kuruluş, Faaliyet, Çalışma ve Denetim Esasları Hakkında Yönetmelikte Değişiklik Yapılmasına Dair Yönetmelik 2009/15468 VHF ve UHF Bandında Çalışan Amatör Telsiz Cihazlarının Performans Standartları Hakkında Yönetmelik (TGM- ST-008) in Yürürlükten Kaldırılmasına Dair Yönetmelik TEBLİĞLER İşkolu Tespit Kararı (No: 2009/50) İşkolu Tespit Kararı (No: 2009/51) YARGI BÖLÜMÜ YARGITAY KARARLARI Yargıtay 2. Hukuk Dairesine Ait Kararlar Yabancı Süreli Yayınlar The International Journal of Accounting Volume 44, Issue 3, Pages (September 2009) Value relevance of conservative and non-conservative accounting information Pages Dimitrios V. Kousenidis, Anestis C. Ladas, Christos I. Negakis Abstract The present paper examines effects of reporting conservatism on the value relevance of accounting earnings of a sample of Greek firms over the period from 1989 to The results of the paper indicate that conservatism is a salient feature of the Greek Accounting System. Moreover, the results depict that the level of conservatism has increased after the market crisis of 1999, potentially as a result of the additional regulation, imposed by the market authorities during the post-crisis period. Finally, the results show that there is a non-linear association between conservative reporting and value relevance of earnings. In particular, value relevance increases when moving from low-conservative firms to medium-conservative firms and decreases when moving further to high-conservative firms. Overall, the results of the paper lend empirical support to the theoretical underpinnings of Watts (2003a) who, on the one hand, report a number of arguments in favor of conservatism but, on the other hand, questions the practice of excessive conservative reporting as being a potential cause of the distortion of the earnings-returns relation. Article Outline 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 1. Introduction 2. The conservative nature of the Greek accounting system 3. Methodological issues 3.1. The models Measuring conservatism Measuring the value relevance of accounting information Modeling cross-sectional dependence and heterogeneity 3.2. Research design Portfolio formation Research hypotheses 4. The data 5. Empirical findings 5.1. Estimation methods 5.2. Empirical results using pooled OLS 5.3. Empirical results using the pooled CCE estimator of Pesaran 5.4. The performance of the hedge portfolio 6. Conclusions and implications for further research Acknowledgements References The effectiveness of the auditor's going-concern evaluation as an external governance mechanism: Evidence from loan defaults Pages Alnoor Bhimani, Mohamed Azzim Gulamhussen, Samuel Lopes Abstract When there is significant doubt about a firm's ability to continue as a going concern, professional standards require independent auditors to disclose the uncertainty in their report. This study assesses the influence of the independent auditor's going-concern evaluation by examining default following the release of the auditor's report. We use a proprietary sample maintained by the Portuguese Central Bank on 12,199 audit reports relating to approximately 2000 firms that are liable by law to have their accounts audited on an annual basis. Empirical estimation of a logit model controlling for accounting cash- flow-related and nonaccounting variables shows that the likelihood of default for firms that received going concern opinion is times that of firms that 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 received a clean opinion. Likelihood ratio tests for omitted variable also confirm the incremental predictive ability of going-concern opinion over and above accounting and nonaccounting variables for the estimation and hold-out samples. In the nondefaulting group, the average default rate is 6.05%, in the defaulting group it is 17.78%. The default rate for firms in the nondefaulting group that received a going-concern opinion is 9.92% and for firms that received a clean opinion it is 5.96%. In the defaulting group, the rate for firms that received a going-concern opinion is 35.49% and for firms that received a clean opinion it is 16.96%. Checks for robustness across different asset classes, age, industries, and regions indicate that firms that receive a going-concern opinion on average default more than those that receive a clean opinion. Article Outline 1. Introduction 2. Hypotheses and variables 2.1. Going-concern opinion 2.2. Accounting controls 2.3. Nonaccounting controls 2.4. Industry and region controls 3. Data and method 4. Empirical findings 5. Conclusions References Strategy, performance-measurement systems, and performance: A study of Chinese firms Pages Damon M. Fleming, Chee W. Chow, Gongmeng Chen Abstract Numerous studies in developed Western countries have shown that firms' strategic choices are responsive to attributes of their external environment. In turn, performancemeasurement systems are used to support strategy implementation, which then affect firm performance. However, institutional factors may limit the extent to which these linkages exist in the transitional Chinese economy. We analyze survey and publicly 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 available data for 104 listed Chinese manufacturing firms and find that, despite a number of identifiable impediments, these firms' strategic emphasis on growth is responsive to the competition and uncertainty that they face. In the case of uncertainty, the relationship goes in the opposite direction to that found in Western firms. Like their Western counterparts, Chinese firms with greater emphasis on growth also tend to make greater use of balanced/integrated performance measurement systems, and, in turn, they perform at a higher level. Article Outline 1. Introduction 2. Background and hypothesis development 2.1. Institutional characteristics of China's emerging economy 2.2. Effects of environmental characteristics on competitive strategy 2.3. Effect of growth strategy on performance-measurement systems 2.4. Effect of a balanced/integrated PMS on firm performance 3. Research method 3.1. Sample selection 3.2. Survey design 3.3. Independent and dependent variables Competition and uncertainty Growth strategy Use of a balanced/integrated PMS Strategic performance 4. Analysis and results 4.1. Descriptive statistics and preliminary analysis 4.2. Hypotheses tests Environmental factors and competitive strategy (H1) Competitive strategy and PMS (H2) PMS and performance (H3) 5. Summary and discussion References 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 The impact of securities regulation on the earnings properties of European crosslisted firms Pages María T. Cabán-García Abstract The objective of this study was to determine if the securities regulation in a foreign country is related to the earnings quality of European firms cross-listed in Europe. The study compared the post-listing earnings quality of 112 European firms cross-listed in 13 European stock exchanges during to those of a controlled sample of noncross-listed firms. Earnings quality was assessed by the use of reporting discretion to manage earnings. The regulatory strictness was represented by three indices of securities regulation. Empirical results provide some support to a positive association between earnings quality and the foreign securities regulation, suggesting that the foreign regulatory requirements have little or no effect on the reported earnings of European firms crosslisted in European exchanges. Article Outline 1. Introduction 2. Literature review and hypotheses development 2.1. Current cross-listing trends 2.2. Hypotheses development 3. Research design 3.1. Test variable: regulatory/disclosure strictness 3.2. Test of Hypothesis Test of Hypothesis 2 4. Sample 5. Results 5.1. Descriptive statistics of the sample firms 5.2. Univariate tests of Hypothesis Univariate tests of Hypothesis Multivariate tests of Hypothesis 2 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 5.5. Additional tests Controlling for other firm-specific differences Earnings quality before and after cross-listing Multivariate tests with a U.S. cross-listed sample 6. Conclusions References 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