Beneish modeli ile finansal bilgi manipülasyonu araştırması: Bist alt pazar uygulaması
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2022
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İnsan var olduğundan beri ekonomi var olmuştur. Kıt kaynaklar rasyonel şekilde kullanılmaya çalışılmıştır. Şirketler faaliyetlere başlamak ve devam ettirebilmek için sermayeye ihtiyaç duyar. Sermayeyi sağlayacak fon sahibi için önemli olan, verdiği fonu en yüksek kar ile birlikte tahsil etmektir. Şirket ise fonu olabildiğince ucuza temin etmek ister. Yine şirketin hisse senetlerine yatırım yapan kişiler için de yaptığı yatırımdan kar etmek birinci amaçtır. Şirket ile çalışan bir tedarikçi için yaptığı hizmet ve teslimin bedelini teslim almak, müşteri için ise; siparişinin tam ve zamanında teslimi önemlidir. Bir çalışan için ise; emeğini kiralayan şirketin, bu hizmetin karşılığı olan ücretini zamanında ödeyebilmesi yaşamsal önemdedir. Kamu otoritesi için ise; tüm ekonomik ve sosyal denge için şirketin faaliyetlerini değerlendirmek, gerekirse desteklemek ve vergi tahsilatını zamanında ve tam olarak yapmak önemlidir. Tüm çıkar grupları için şirketin kendilerine sunacağı finansal tablolar kilit önemdedir. Çıkar gruplarının istek ve beklentileri ile bu beklentilerin gerçekleşme olasılığı bu finansal kaynaklara göre alacakları kararlar sonucundadır. İşte bu kararlar ekonomik denge için önemli olup, şirket finansal tablolarında çıkar çatışmasından kaynaklı olabilecek hileleri ortaya çıkarabilmek için denetim sürekli gelişmektedir. Bu çalışmada; 2020 yılında Borsa İstanbul Alt Pazarında işlem gören 86 şirketin verileri analiz edilerek, finansal bilgi manipülasyonun varlığı, Beneish (1999) Modeli ile tahmin edilmeye çalışılmıştır. Alt pazarda işlem gören 86 şirketin 24 tanesi, SPK bültenleri ve KAP açıklamalarından hareketle manipülatör şirket olarak, 29 şirket kontrol şirketi olarak gruplandırılmıştır. 23 şirket ise; bulundukları sektör veya açıklanmış finansal verilerin model veri seti ihtiyacını karşılayamaması nedeni ile analiz dışında bırakılmıştır.
The economy has existed since the man has existed. Humans have tried to use scarce resources rationally. Companies need capital to start and continue on their operations. The important thing for the fund owner, who will provide the capital, is to collect the fund back with the highest profit. The company, on the other hand, wants to obtain the fund as cheaply as possible. Similarly, for those who invest in the company's stocks, the primary goal is to make a profit from their investment. It is important for the company's supplier to receive the price of its service and delivery and, for the company's customer, to receive his order completely and on time. On the other hand, it is vital for an employee that the company that hires its labor can pay for this service on time. It is important for the public authority to evaluate the company's activities , to support it if necessary, and to collect taxes in a timely and complete manner in order for entire economic and social balance. Financial statements that the company will present are of key importance for all interest groups. Wishes and expectations of these interest groups and the probability of realization of such expectations are based on their decisions that they will take according to such financial resources and these decisions are important for the economic balance, and therefore the audits are constantly developing in order to reveal the frauds that may arise from the conflict of interest in the financial statements of the company. The data of 86 companies being traded in Low-End Market of Istanbul Stock Exchange in 2020 have been analyzed in this study and it is tried to estimate the existence of financial information manipulation by using Beneish (1999) Model. 24 of these 86 companies were grouped as manipulating companies, based on CMB bulletins and Public Disclosure Platform announcements, and 29 of them were grouped as control companies. On the other hand, 23 companies were excluded from the analysis because of the industry, in which they operate, and the failure of their financial data to meet the requirements of model data set.
The economy has existed since the man has existed. Humans have tried to use scarce resources rationally. Companies need capital to start and continue on their operations. The important thing for the fund owner, who will provide the capital, is to collect the fund back with the highest profit. The company, on the other hand, wants to obtain the fund as cheaply as possible. Similarly, for those who invest in the company's stocks, the primary goal is to make a profit from their investment. It is important for the company's supplier to receive the price of its service and delivery and, for the company's customer, to receive his order completely and on time. On the other hand, it is vital for an employee that the company that hires its labor can pay for this service on time. It is important for the public authority to evaluate the company's activities , to support it if necessary, and to collect taxes in a timely and complete manner in order for entire economic and social balance. Financial statements that the company will present are of key importance for all interest groups. Wishes and expectations of these interest groups and the probability of realization of such expectations are based on their decisions that they will take according to such financial resources and these decisions are important for the economic balance, and therefore the audits are constantly developing in order to reveal the frauds that may arise from the conflict of interest in the financial statements of the company. The data of 86 companies being traded in Low-End Market of Istanbul Stock Exchange in 2020 have been analyzed in this study and it is tried to estimate the existence of financial information manipulation by using Beneish (1999) Model. 24 of these 86 companies were grouped as manipulating companies, based on CMB bulletins and Public Disclosure Platform announcements, and 29 of them were grouped as control companies. On the other hand, 23 companies were excluded from the analysis because of the industry, in which they operate, and the failure of their financial data to meet the requirements of model data set.
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İşletme, Muhasebe hata ve hileleri, Business Administration, Proforma finansal tablolar, Accounting mistakes and frauds, Proforma financial tables, Yaratıcı muhasebe, Creative accounting