Bilgiye Erişim Merkezi ne Yeni Gelen Yayınlar

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1 1133 MAARRTT CCUUMAA SSAAYYI II: : Bilgiye Erişim Merkezi ne Yeni Gelen Yayınlar Altındağ, Mehmet. Gelir vergisi beyanname düzenleme rehberi. İstanbul: İSMMMO, 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 2009/14681 Gaziosmanpaşa Üniversitesi Rektörlüğüne Bağlı Olarak Mühendislik ve Doğa Bilimleri Fakültesi ile Güzel Sanatlar Fakültesi Kurulması Hakkında Karar 2009/14697 Yeni Uydu Temini Amacıyla Türksat Uydu Haberleşme Kablo TV ve İşletme Anonim Şirketine Yetki Verilmesine İlişkin Karar 2009/14737 Bakanlıklararası Ortak Kültür Komisyonunun Çalışma Esas ve Usulleri ile Bu Komisyon Tarafından Yurtdışında Yapılmasına Görevlendirilecek Personelin Nitelikleri ile Hak ve Yükümlülüklerinin Belirlenmesine İlişkin Kararda Değişiklik Dair Karar 2009/14763 Koç Üniversitesi Rektörlüğüne Bağlı Olarak Tıp Fakültesi Kurulması Hakkında Karar BAKANLIĞA VEKÂLET ETME İŞLEMİ Devlet Bakanı Mehmet ŞİMŞEK e, Devlet Bakanı ve Başbakan Yardımcısı Nazım EKREN in Vekâlet Etmesine Dair Tezkere ATAMA KARARLARI 2009/14692 Tütün ve Alkol Piyasası Düzenleme Kurulunda Boş Bulunan Başkanlığa ve Başkan Vekilliğine Yapılan Atamalar Hakkında Karar 2009/14782 Sermaye Piyasası Kurulunda Boş Bulunan Başkanlık ve Üyeliğe Atama Yapılması Hakkında Karar Başbakanlık ile Millî Savunma, Maliye, Millî Eğitim, Sağlık ve Tarım ve Köyişleri Bakanlıklarına Ait Atama Kararları YÖNETMELİKLER Öğretmenler Günü Kutlama Yönetmeliğinde Değişiklik Yapılmasına Dair Yönetmelik Tapu ve Kadastro Genel Müdürlüğü Sicil Amirleri Yönetmeliğinde Değişiklik Yapılmasına Dair Yönetmelik 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 Tapu ve Kadastro Genel Müdürlüğü Disiplin Amirleri Yönetmeliğinde Değişiklik Yapılmasına Dair Yönetmelik TEBLİĞ İşkolu Tespit Kararı (No: 2009/9) Yabancı Kitap Ve Süreli Yayınlar Journal of Accounting and Public Policy Volume 25, Issue 1, Pages (January-February 2006) Information transparency and pricing in the municipal bond secondary market Pages 1-31 Jacqueline L. Reck, Earl R. Wilson Abstract This study examines whether the proliferation of new information sources about municipal issuers during the 1990s, including annual financial disclosures required by the SEC under its revised Rule 15c2-12, has resulted in greater information transparency and improved pricing in the municipal bond secondary market. Unlike the corporate equity and bond markets, the secondary market for municipal bonds has suffered from a lack of frequent and timely disclosures of issuer-specific information. Prior accounting research, using data from the 1980s (e.g., Ingram, R.W., Raman, K.K., Wilson, E.R., The information in governmental annual reports: A contemporaneous price reaction approach. The Accounting Review 64 (2), ; Ingram, R.W., Wilson, E.R., Information intermediation and seasoned municipal bond yields. Research in Governmental and Nonprofit Accounting 10, 1 31; Reck, J.L., Wilson, E.R., Gotlob, D., Lawrence, C., Governmental capital markets research in accounting: A review, extension, and directions for future research. Research in Governmental and Nonprofit Accounting 11, 1 33), found that the prices of seasoned bonds (those already trading in the secondary market) primarily adjust to information disclosed at the time of subsequent new bond issues of the same entity. Our comparative empirical analysis using data from both the 1990s and 1980s suggests that seasoned bond prices now impound information throughout the year rather than just adjusting to information disclosed in connection with new issues. This finding is consistent with the rapid proliferation of alternative information sources during the past 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 decade. Our results provide no direct evidence, however, that secondary market prices react to the disclosures required by the SEC since Article Outline 1. Introduction 2. Background 2.1. Need for disclosure 2.2. Sources of information 2.3. SEC Rule 15c Development of hypotheses 3.1. Increased information disclosures 3.2. Information asymmetry and increased market disclosures 4. Method 4.1. Sample selection and data 4.2. Model development 4.3. Testing procedures and regression models 5. Results 5.1. Univariate tests 5.2. Descriptive statistics for regression variables 5.3. Regression results 5.4. Additional analyses 6. Conclusions Acknowledgements References The economic value of regulated disclosure: Evidence from the banking sector Pages Solomon Tadesse Abstract The study examines the economic consequences of regulated disclosure in the banking sector, focusing on its impacts on the stability of banking systems. In a cross-country study of banking systems across 49 countries in the 90s, I find that banking crises are 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 less likely in countries with greater regulated disclosure and transparency. Specifically, banking systems are less vulnerable to crisis if supported by financial reporting regimes characterized by (i) more comprehensive disclosure, (ii) more timely financial reporting, (iii) more informative reporting, and (iv) more credible financial disclosure. To the extent that banking crises are costly, the paper documents the positive impact of accounting information to the real sector of the economy. Article Outline 1. Introduction 2. Disclosure regulations and banking system stability: theory 3. Data and methodology 3.1. Methodology 3.2. Variables 3.3. Sample selection 4. Results 4.1. Bank transparency and banking crises 4.2. Regulated disclosure quality, private information acquisition, information dissemination and banking crises 4.3. Regulated disclosure and banking crises: a closer look 5. Robustness checks 6. Conclusion Appendix A. Systemic banking crises in 1990s Appendix B. Definition of main variables References Earnings quality decline and the effect of industry specialist auditors: An analysis of the late 1990s Pages David S. Jenkins, Gregory D. Kane, Uma Velury Abstract This study investigates whether earnings quality declined during the late 1990s, a period marked by extraordinary stock market activity, and whether industry specialist auditors were effective in stemming any such decline. Specifically, we examine 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 whether the magnitude of discretionary accruals increased and the Earnings Response Coefficient (ERC) decreased in the period relative to those of the period. Our findings are as follows. First, we find a significant increase in the magnitude of discretionary accruals and a significant decrease in ERC in our sample, which suggests an overall decrease in earnings quality across the periods. Next, both the increase in discretionary accruals and the decrease in ERC are shown to be significantly smaller for clients of industry specialist auditors. Finally, it is shown that the effectiveness of industry specialist auditors was limited and that they were associated with some earnings quality decline. Collectively, these results imply a pervasive earnings quality decline during the late 1990s that even high quality auditing was insufficient to fully prevent. Article Outline 1. Introduction 2. Background 2.1. Earnings quality in the late 1990s 2.2. Industry specialist auditors and changes in earnings quality associated with the period 3. Methodology 3.1. Selection of periods 3.2. Measurement of variables Industry specialist auditors The reporting of discretionary accruals Returns-earnings relationship 3.3. Sample selection 4. Empirical results 4.1. DA study results Descriptive statistics Increase in discretionary accruals 4.2. ERC study results Descriptive statistics Decline in the returns-earnings relation 4.3. Ex-post analyses 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 Period I analysis Unqualified opinions only Limitations of the study related to proxy measures 5. Conclusion References Effects of professional and non-professional investors perceptions of board effectiveness on their judgments: An experimental study Pages Divesh S. Sharma Abstract This paper investigates the effects of investors perceptions of the effectiveness of the board of directors on their judgments. I hypothesize that investors perceptions of the effectiveness of the board will be negatively related to their judgments of investment risk and positively related to the amount they are willing to invest. I also hypothesize that the association between effectiveness of the board and investment judgments will be moderated by investor type such that professional investors will be less conservative than non-professional investors. Forty non-professional investors and 33 professional investors participated in the experiment. Generally, the results of the study are consistent with the hypothesized effects. The results suggest that even in the context of sound financial performance, investors perceptions of the effectiveness of the board are a key determinant of their investment judgments. This association is moderated by investor type and suggests professional investors are less conservative than nonprofessional investors. Such evidence is consistent with agency theory, use of the house money hypothesis and recent anecdotal scandals involving professional investors. Overall, the results provide evidence that investors are more confident in firms with effective corporate boards and support regulatory reforms strengthening corporate boards. Article Outline 1. Introduction 2. Hypotheses development 2.1. Effectiveness of the board and investment judgments 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 2.2. Professional versus non-professional investors 3. Research design and method 3.1. Participants 3.2. Research instrument and judgment task Experimental materials Judgment task 4. Results 4.1. Summary statistics 4.2. Hypotheses tests Effects of perceptions of EFFBOD on INVRISK and PROPINV Professional vs non-professional investors Sensitivity analyses 5. Discussion and conclusion Acknowledgements Appendix A. A.1. Extract of task condition strong governance A.2. Extract of task condition weak governance 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