KAKİLLİ ACARAVCI, Songül Mustafa Kemal Üniversitesi - İktisadi ve İdari Bilimler Fakültesi (İİBF), Turkey

FINANCIAL RATIOS - STOCK RETURN NEXUS: AN APPLICATON ON BIST

40382

Since 2005 stocks traded companies on the Stock Exchange to prepare two different financial reports in accordance with uniform chart of accounts and IFRS has been made mandatory in Turkey. These two systems have different in terms of principles and their financial statements are different, therefore comparison of two systems is investigated. The purpose of this study is to research as econometric the relationship between stock returns of companies and financial ratios which obtained from financial statements prepared with national accounting regulations and IFRS, and also to determine about whether these relations differ from each other. According to results, the financial ratios obtained from the financial statements prepared in IFRS period have more contribution on describing the stock returns than the financial ratios obtained from the financial statements prepared in uniform chart of accounts period.

263

IFRS , Financial Statements , Stock Return , Panel Data Analysis

Mustafa Kemal University Journal Of Graduate School Of Social Sciences

275