BORSA İSTANBUL’DAKİ ŞİRKETLERİN FAALİYET RAPORLARININ OKUNABİLİRLİĞİ: FİNANSAL PERFORMANS KAPSAMINDA BİR KARŞILAŞTIRMA

Yıl 2022, Cilt: 5 Sayı: 2, 262 - 274, 31.12.2022

Emin Zeytinoğlu , Nasıf Özkan

https://doi.org/10.46737/emid.1178097

Öz

Bu çalışmanın amacı, Borsa İstanbul 100 endeksinde bulunan şirketlerin yayımladığı faaliyet raporlarının okunabilirliğini ölçerek farklı finansal performansa sahip şirketler arasında okunabilirlik düzeyi açısından anlamlı bir farkın olup olmadığını değerlendirmektir. Bu kapsamda 2020 ve 2021 yıllarına ait faaliyet raporlarının okunabilirliği Ateşman Okunabilirlik İndeksi yardımı ile incelenmiştir. Çalışmada ek olarak finansal performansı yüksek şirketler ile finansal performansı düşük şirketlerin okunabilirlik puanları arasında istatistiksel olarak anlamlı bir farklılık olup olmadığı bağımsız örneklem t testi yoluyla analiz edilmiştir. Çalışma sonucunda her iki yıl için de faaliyet raporlarının genel olarak zor okunabilirlik derecesine sahip olduğu ve okunabilirlik puanı açısından performansı düşük şirketler ile yüksek şirketler arasında istatistiksel olarak anlamlı bir farklılık tespit edilmiştir. Çalışmada ek olarak gizleme hipotezinin varlığını destekleyecek bir kanıta da ulaşılamamıştır. Yapılan araştırma kapsamında hem faaliyet raporlarının okunabilirlik düzeyleri tespit edilerek hem de gizleme hipotezinin varlığı incelenerek literatüre katkıda bulunulmuştur.

Anahtar Kelimeler

Okunabilirlik, Faaliyet Raporu, Gizleme Hipotezi, Finansal Performans

READABILITY OF ANNUAL REPORTS OF COMPANIES LISTED IN BORSA ISTANBUL: A COMPARISON WITHIN THE FINANCIAL PERFORMANCE FRAMEWORK

Öz

This study is intended to measure the readability of annual reports published by companies in the Borsa Istanbul 100 Index and evaluate whether there is a significant difference in readability between companies varying in financial performance. To this end, the readability of the annual reports from the years 2020 and 2021 was examined using Ateşman’s Readability Index. The study also used the independent sample t-test to analyze whether or not there is a statistically significant difference in the readability scores between companies with high financial performance and those with low financial performance. As the result, it was found that the annual reports were generally hard to read in both years and there was a statistically significant difference in the readability score between low and high-performance companies. Nor was any evidence found to support the presence of the obfuscation hypothesis. The study contributes to the literature both by identifying the annual report readability scores and exploring the presence of the obfuscation hypothesis.

Anahtar Kelimeler

Readability, Annual Report, Obfuscation Hypothesis, Financial Performance

Kaynakça

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