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Makroekonomik İstikrar Üzerinde Muhasebe ve Denetim Standartları ve Kurumsal Yönetimin Etkileri İçin Ampirik Bir Analiz

Year 2021, Volume: 8 Issue: 2, 101 - 114, 04.08.2021

Hülya Kesici Çalışkan , Ayşe Atılgan Sarıdoğan

Abstract

Makroekonomik istikrar, bir ülkenin sürdürülebilir ekonomik büyümesi ve sosyal refahı için önemlidir. Sektörel, ulusal ve uluslararası düzeyde makroekonomik istikrarı etkileyen birçok ekonomik ve politik faktör söz konusudur. Ülkelerin, sürdürülebilir ekonomik büyümelerini ve sosyal refahlarını korumak için makroekonomik istikrarı etkileyen ekonomik ve politik faktörleri yakından izlemesi hayati önem taşımaktadır. Makroekonomik istikrarı olumsuz etkileyebilecek makroekonomik ve finansal göstergelerdeki oynaklık ve dalgalanmaları fark ederek önlem almak önemlidir. Finansal sistemde, yatırımcılar, firmalara tasarruflarını borç verirken, firmaların mali tablolardaki performans göstergelerine göre karar vermektedirler. Ancak, firmaların mali tablolarındaki bilgilerin, doğruluğu ve güvenilirliği, bir yandan, muhasebe ve denetim standartlarındaki gelişme düzeyine, diğer yandan ise kurumsal yönetim kapasitesine bağlıdır. Firma yöneticileri ve firmaya yatırım yapmak isteyen yatırımcılar arasında, firmanın mali bilgilerinin doğruluğu ile ilgili olarak, asimetrik bilgi söz konusudur. Bu asimetrik bilgi, yatırımcıların yanlış seçimler yapmasına neden olarak, finansal ve ekonomik istikrarın bozulmasını tetikleyebilir. Bu bağlamda, asitmetrik bilgi probleminin çözülmesi ve makroekonomik istikrarın korunmasında, muhasebe ve denetim standartları ve kurumsal yönetim düzeyindeki gelişmeler önemli rol oynamaktadır.
Bu bağlamda, bu çalışmanın temel amacı, muhasebe ve denetim standartları ile kurumsal yönetimin makroekonomik istikrar üzerindeki etkilerini ampirik olarak analiz etmektir. Çalışmada kullanılan veriler, 141 ülke ve 2019 yılı için WEF Küresel Rekabet Endeksi veri setinden alınmıştır. Çalışmada kullanılan yöntem, OLS tahmincisi ile çoklu regresyon analizidir. Çalışmanın sonuçlarına göre; açıklayıcı değişkenler, Kurumsal yönetim ile muhasebe ve denetimi standartlarının gelişim düzeyi, bağımlı değişkeni aynı yönde etkilemektedir. Muhasebe ve Denetim standartlarının ve Kurumsal Yönetim ortamının iyileştirilmesi sadece firmaların ve sektörlerin güçlendirilmesi için değil, aynı zamanda ulusal makroekonomik istikrar için de önemlidir. Sonuç olarak, ekonomik politika tasarımlarında muhasebe ve denetim standartlarının ve kurumsal yönetişimin geliştirilmesine yeterince önem verilmesi, makroekonomik istikrarın korunmasına ve güçlendirilmesine katkı sağlayacaktır.

Keywords

Makroekonomi İstikrar Kurumsal Yönetim Muhasebe Denetim

Supporting Institution

yok

Project Number

yok

Thanks

yok

References

  • Agenor, P. R., & Pereira da Silva, L. A. (2012). Macroeconomic stability, fnancial stability, and monetary policy rules. International Finance, 15(2), 205-224. google scholar
  • Arnis, N., Karamanis, K., & Kolias, G. (2019). Detecting creative accounting in businesses in financial distress. Accounting and Finance Research, 8(2), 232. google scholar
  • Arnold, P. J. (2009). Global financial crisis: The challenge to accounting research. Accounting, organizations and Society, 34(6-7), 803-809. google scholar
  • Bezemer, D. J. (2010). Understanding financial crisis through accounting models. Accounting, organizations and society, 35(7), 676-688. google scholar
  • Bilan, Y., Raisiene, A. G., Vasilyeva, T., Lyulyov, O., & Pimonenko, T. (2019). Public Governance efficiency and macroeconomic stability: Examining convergence of social and political determinants. Public Policy and Administration, 18(2), 241-255. google scholar
  • Bischof, J., Laux, C., & Leuz, C. (2019). Accounting for financial stability: Lessons from the financial crisis and future challenges. CFS Working Paper, No. 622 google scholar
  • Bleaney, M. F. (1996). Macroeconomic stability, investment and growth in developing countries. Journal of development economics, 48(2), 461-477. google scholar
  • Cecchetti, S. G., & Krause, S. (2001). Financial structure, macroeconomic stability and monetary policy (No. w8354). National Bureau of Economic Research. google scholar
  • Clarida, R., Gali, J., & Gertler, M. (2000). Monetary policy rules and macroeconomic stability: evidence and some theory. The Quarterly journal of economics, 115(1), 147-180. google scholar
  • Corsetti, G., Kuester, K., Meier, A., & Müller, G. J. (2013). Sovereign risk, fiscal policy, and macroeconomic stability. The Economic Journal, 123(566), F99-F132. google scholar
  • Dornbusch, R. (1980). Exchange rate rules and macroeconomic stability. NBER Working Paper, (w0473). google scholar
  • Figlioli, B., Lemes, S., & Lima, F. G. (2017). IFRS, synchronicity, and financial crisis: the dynamics of accounting information for the Brazilian capital market. Revista Contabilidade & Finanças, 28(75), 326-343. google scholar
  • Fischer, S. (1992). Macroeconomic stability and growth. Cuadernos de Econom^a, 29(87), 171-186. google scholar
  • Gai, P., Kapadia, S., Millard, S., & Perez, A. (2008). Financial innovation, macroeconomic stability and systemic crises. The Economic Journal, 118(527), 401-426. google scholar
  • Gali, J. (1994). Government size and macroeconomic stability. European Economic Review, 38(1), 117-132. google scholar
  • Houben, A., Kakes, J. & Schinasi, G. (2004). Towards a framework for safeguarding financial stability. IMF Working Paper, 04/101. google scholar
  • Huizinga, H., & Laeven, L. (2012). Bank valuation and accounting discretion during a financial crisis. Journal of Financial Economics, 106(3), 614-634. google scholar
  • Kaufman, G. G. (2004). Macroeconomic Stability, Bank Soundness, and Designing Optimum Regulatory Structures. Multinational Finance Journal, 8(3/4), 141-171. google scholar
  • Kothari, S. P., & Lester, R. (2012). The role of accounting in the financial crisis: Lessons for the future. Accounting Horizons, 26(2), 335-351. google scholar
  • Kucera, D., Galli, R., & Al-Hussami, F. (2013:290). Keeping up with the Joneses or Keeping One’s Head above Water? Inequality and the Post-2007 Crisis. In Beyond Macroeconomic Stability (pp. 288-325). Palgrave Macmillan, London. google scholar
  • Le Fort Varela, G., Gallardo, B., & Bustamante, F. (2020). Macroeconomic stability and economic growth: myths and realities. CEPAL Review. google scholar
  • Magnan, M. L. (2009). Fair value accounting and the financial crisis: messenger or contributor?. Accounting perspectives, 8(3), 189-213. google scholar
  • Makri, V., & Papadatos, K. (2014). How accounting information and macroeconomic environment determine credit risk? Evidence from Greece. International Journal of Economic Sciences and Applied Research, 7(1). google scholar
  • Menicucci, E., & Paolucci, G. (2017). Fair Value Accounting within a Financial Crisis: An Examination of Implications and Perspectives. International Journal of Business and Social Science, 8(2), 41-56. google scholar
  • Mishkin, F. S. (1992). Anatomy of a financial crisis. Journal of evolutionary Economics, 2(2), 115-130. google scholar
  • Sangnier, M. (2013). Does trust favor macroeconomic stability?. Journal of Comparative Economics, 41(3), 653668. google scholar
  • Subramanian, A., & Satyanath, S. (2004). What determines long-run macroeconomic stability?Democratic institutions. IMF Working Paper No. 04/215 google scholar
  • Sutherland, D., & Hoeller, P. (2012). Debt and macroeconomic stability: An overview of the literature and some empirics. OECD Economic Department Working Papers, (1006), 0_1. google scholar
  • World Economic Forum Global Competitiveness Index, 2019 google scholar
  • Yevdokimov, Y., Melnyk, L., Lyulyov, O., Panchenko, O., & Kubatko, V. (2018). Economic freedom and democracy: Determinant factors in increasing macroeconomic stability. Problems and Perspectives in Management, 16(2), 279-290. google scholar

n Empirical Analysis for the Effects of Accounting and Auditing Standards and Corporate Governance on Macroeconomic Stability

Year 2021, Volume: 8 Issue: 2, 101 - 114, 04.08.2021

Hülya Kesici Çalışkan , Ayşe Atılgan Sarıdoğan

Abstract

Macroeconomic stability is important for a country’s sustainable economic growth and social welfare. There are many economic and political factors affecting macroeconomic stability at sectoral, national and international levels. In financial system, while investors lend their savings to companies, they decide according to performance indicators of companies in financial statements. However, accuracy and reliability of information in financial statements of companies depends on level of development in accounting and auditing standards on one hand, and on corporate management capacity on other. There is asymmetrical information about accuracy of financial information of firm between company managers and investors who want to invest in company. This asymmetrical information can cause investors to make wrong choices, triggering financial and economic instability. In this context, developments in accounting and auditing standards and corporate governance level play an important role in solving asymmetric information problem and maintaining macroeconomic stability. In this context, main purpose of this study is to analyse empirically effects of accounting and auditing standards and corporate governance on macroeconomic stability. According to results of study; explanatory variables, Corporate governance and Strength auditing accounting standards affect dependent variable in same direction. The improvement of Accounting and Auditing standards and Corporate Governance climate is important not only for strengthening of firms and sectors, but also for national macroeconomic stability. As a result, giving sufficient importance to development of accounting and auditing standards and corporate governance in economic policy designs will contribute to preservation and strengthening of macroeconomic stability. 

Keywords

Macroeconomy Stability Corporate Governance Accounting Auditing

Project Number

yok

References

  • Agenor, P. R., & Pereira da Silva, L. A. (2012). Macroeconomic stability, fnancial stability, and monetary policy rules. International Finance, 15(2), 205-224. google scholar
  • Arnis, N., Karamanis, K., & Kolias, G. (2019). Detecting creative accounting in businesses in financial distress. Accounting and Finance Research, 8(2), 232. google scholar
  • Arnold, P. J. (2009). Global financial crisis: The challenge to accounting research. Accounting, organizations and Society, 34(6-7), 803-809. google scholar
  • Bezemer, D. J. (2010). Understanding financial crisis through accounting models. Accounting, organizations and society, 35(7), 676-688. google scholar
  • Bilan, Y., Raisiene, A. G., Vasilyeva, T., Lyulyov, O., & Pimonenko, T. (2019). Public Governance efficiency and macroeconomic stability: Examining convergence of social and political determinants. Public Policy and Administration, 18(2), 241-255. google scholar
  • Bischof, J., Laux, C., & Leuz, C. (2019). Accounting for financial stability: Lessons from the financial crisis and future challenges. CFS Working Paper, No. 622 google scholar
  • Bleaney, M. F. (1996). Macroeconomic stability, investment and growth in developing countries. Journal of development economics, 48(2), 461-477. google scholar
  • Cecchetti, S. G., & Krause, S. (2001). Financial structure, macroeconomic stability and monetary policy (No. w8354). National Bureau of Economic Research. google scholar
  • Clarida, R., Gali, J., & Gertler, M. (2000). Monetary policy rules and macroeconomic stability: evidence and some theory. The Quarterly journal of economics, 115(1), 147-180. google scholar
  • Corsetti, G., Kuester, K., Meier, A., & Müller, G. J. (2013). Sovereign risk, fiscal policy, and macroeconomic stability. The Economic Journal, 123(566), F99-F132. google scholar
  • Dornbusch, R. (1980). Exchange rate rules and macroeconomic stability. NBER Working Paper, (w0473). google scholar
  • Figlioli, B., Lemes, S., & Lima, F. G. (2017). IFRS, synchronicity, and financial crisis: the dynamics of accounting information for the Brazilian capital market. Revista Contabilidade & Finanças, 28(75), 326-343. google scholar
  • Fischer, S. (1992). Macroeconomic stability and growth. Cuadernos de Econom^a, 29(87), 171-186. google scholar
  • Gai, P., Kapadia, S., Millard, S., & Perez, A. (2008). Financial innovation, macroeconomic stability and systemic crises. The Economic Journal, 118(527), 401-426. google scholar
  • Gali, J. (1994). Government size and macroeconomic stability. European Economic Review, 38(1), 117-132. google scholar
  • Houben, A., Kakes, J. & Schinasi, G. (2004). Towards a framework for safeguarding financial stability. IMF Working Paper, 04/101. google scholar
  • Huizinga, H., & Laeven, L. (2012). Bank valuation and accounting discretion during a financial crisis. Journal of Financial Economics, 106(3), 614-634. google scholar
  • Kaufman, G. G. (2004). Macroeconomic Stability, Bank Soundness, and Designing Optimum Regulatory Structures. Multinational Finance Journal, 8(3/4), 141-171. google scholar
  • Kothari, S. P., & Lester, R. (2012). The role of accounting in the financial crisis: Lessons for the future. Accounting Horizons, 26(2), 335-351. google scholar
  • Kucera, D., Galli, R., & Al-Hussami, F. (2013:290). Keeping up with the Joneses or Keeping One’s Head above Water? Inequality and the Post-2007 Crisis. In Beyond Macroeconomic Stability (pp. 288-325). Palgrave Macmillan, London. google scholar
  • Le Fort Varela, G., Gallardo, B., & Bustamante, F. (2020). Macroeconomic stability and economic growth: myths and realities. CEPAL Review. google scholar
  • Magnan, M. L. (2009). Fair value accounting and the financial crisis: messenger or contributor?. Accounting perspectives, 8(3), 189-213. google scholar
  • Makri, V., & Papadatos, K. (2014). How accounting information and macroeconomic environment determine credit risk? Evidence from Greece. International Journal of Economic Sciences and Applied Research, 7(1). google scholar
  • Menicucci, E., & Paolucci, G. (2017). Fair Value Accounting within a Financial Crisis: An Examination of Implications and Perspectives. International Journal of Business and Social Science, 8(2), 41-56. google scholar
  • Mishkin, F. S. (1992). Anatomy of a financial crisis. Journal of evolutionary Economics, 2(2), 115-130. google scholar
  • Sangnier, M. (2013). Does trust favor macroeconomic stability?. Journal of Comparative Economics, 41(3), 653668. google scholar
  • Subramanian, A., & Satyanath, S. (2004). What determines long-run macroeconomic stability?Democratic institutions. IMF Working Paper No. 04/215 google scholar
  • Sutherland, D., & Hoeller, P. (2012). Debt and macroeconomic stability: An overview of the literature and some empirics. OECD Economic Department Working Papers, (1006), 0_1. google scholar
  • World Economic Forum Global Competitiveness Index, 2019 google scholar
  • Yevdokimov, Y., Melnyk, L., Lyulyov, O., Panchenko, O., & Kubatko, V. (2018). Economic freedom and democracy: Determinant factors in increasing macroeconomic stability. Problems and Perspectives in Management, 16(2), 279-290. google scholar
There are 30 citations in total.

Details

Primary Language English
Subjects Economics
Journal Section Makaleler
Authors

Hülya Kesici Çalışkan 0000-0003-4420-610X

Ayşe Atılgan Sarıdoğan 0000-0001-5160-7687

Project Number yok
Publication Date August 4, 2021
Submission Date February 15, 2021
Published in Issue Year 2021 Volume: 8 Issue: 2

Cite

APA Kesici Çalışkan, H., & Atılgan Sarıdoğan, A. (2021). n Empirical Analysis for the Effects of Accounting and Auditing Standards and Corporate Governance on Macroeconomic Stability. Journal of Economic Policy Researches, 8(2), 101-114.
AMA Kesici Çalışkan H, Atılgan Sarıdoğan A. n Empirical Analysis for the Effects of Accounting and Auditing Standards and Corporate Governance on Macroeconomic Stability. JEPR. August 2021;8(2):101-114.
Chicago Kesici Çalışkan, Hülya, and Ayşe Atılgan Sarıdoğan. “N Empirical Analysis for the Effects of Accounting and Auditing Standards and Corporate Governance on Macroeconomic Stability”. Journal of Economic Policy Researches 8, no. 2 (August 2021): 101-14.
EndNote Kesici Çalışkan H, Atılgan Sarıdoğan A (August 1, 2021) n Empirical Analysis for the Effects of Accounting and Auditing Standards and Corporate Governance on Macroeconomic Stability. Journal of Economic Policy Researches 8 2 101–114.
IEEE H. Kesici Çalışkan and A. Atılgan Sarıdoğan, “n Empirical Analysis for the Effects of Accounting and Auditing Standards and Corporate Governance on Macroeconomic Stability”, JEPR, vol. 8, no. 2, pp. 101–114, 2021.
ISNAD Kesici Çalışkan, Hülya - Atılgan Sarıdoğan, Ayşe. “N Empirical Analysis for the Effects of Accounting and Auditing Standards and Corporate Governance on Macroeconomic Stability”. Journal of Economic Policy Researches 8/2 (August 2021), 101-114.
JAMA Kesici Çalışkan H, Atılgan Sarıdoğan A. n Empirical Analysis for the Effects of Accounting and Auditing Standards and Corporate Governance on Macroeconomic Stability. JEPR. 2021;8:101–114.
MLA Kesici Çalışkan, Hülya and Ayşe Atılgan Sarıdoğan. “N Empirical Analysis for the Effects of Accounting and Auditing Standards and Corporate Governance on Macroeconomic Stability”. Journal of Economic Policy Researches, vol. 8, no. 2, 2021, pp. 101-14.
Vancouver Kesici Çalışkan H, Atılgan Sarıdoğan A. n Empirical Analysis for the Effects of Accounting and Auditing Standards and Corporate Governance on Macroeconomic Stability. JEPR. 2021;8(2):101-14.
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