Kazanç Yönetimi Uygulamalarının Belirlenmesinde Tahakkuk Esaslı Modellerin Sektörlere Göre İncelemesi

Amaç - Kazanç yönetimi en basit ifadeyle yöneticilerin finansal tablolar üzerinde kuralları çiğnemeden yaptıkları manipülasyon olarak tanımlanabilir. Yöneticilerin bilinçli olarak yaptıkları bu manipülasyonun ilk bakışta tespit edilmesi güçtür. “Tahakkuklar” yoluyla manipülasyonun tespit edilmesi sık başvurulan yöntemlerden bir tanesidir. Bu çalışmada, önceki literatürde geliştirilmiş olan en önemli modeller arasından Jones, Modifiye Edilmiş Jones ve Kothari modelleri seçilmiştir. Bu modellere göre, sektörel sınıflandırmaya gidildiğinde modellerden hangilerinin kazanç yönetimi uygulamalarının belirlenmesinde istatistiksel olarak daha anlamlı olduğunu tespit etmek amaçlanmıştır. Yöntem - Veriler COMPUSTAT veri tabanı aracılığıyla elde edilmiştir. Veri tabanında 1999-2020 yılları arasında aktif statüsü ile yer alan Avrupa Birliği üyesi 26 ülke ve İngiltere’de faaliyet gösteren şirketler taranmış ve sektörel olarak sınıflandırılmıştır. Sektörel sınıflandırmada GIC-SECTOR sınıflandırılması kullanılmıştır. Şirketler yalnızca sektör kodlarına göre sınıflandırılmıştır, bunun dışında herhangi bir sınıflandırma kriteri kullanılmamıştır. Veri seti toplam 28.962 gözlemden oluşmaktadır. Veri seti içinde yer alan uç değerler, toplam örneklemin yaklaşık olar %1’lik dilimine denk gelen büyüklükte oldukları için, genel sonuçlara etki etmeyeceği varsayımı altında örneklemden ayıklanmamışlardır. Bulgular - GIC-SECTOR kodlamasında yer alan 11 sektörler arasından 9 sektör incelenmiştir. Modellerin sektörlere uygulanması sonucu Sağlık ve İletişim sektörlerinde faaliyet gösteren şirketlerin kazanç yönetimi uygulamalarının tespit edilebilmesi için çalışma kapsamındaki modellerden hiçbiri istatiksel olarak anlamlı sonuç vermemiştir. Diğer sektörlerde ise, modellerden en az bir tanesi anlamlı sonuç vermiştir. Seçilen modellerin çalıştırabilmesi için öncelikle modellerde yer alan beta katsayılarının hesaplanması gerekmektedir. Bu çalışmada da beta katsayıları her model için ayrı hesaplanmış, istatistiksel olarak anlamlı olan modellerin katsayıları sunulmuştur. Tartışma - Yapılan çalışma kapsamında kullanılan modeller tahakkuklar yoluyla kazanç yönetimi uygulamasının tespit edilmesinde kullanılan temel modellerdir. Fakat çalışma göstermektedir ki İletişim ve Sağlık sektörlerinde, her ne kadar modeller temel modeller bile olsa, bu konuda bir boşluk bulunmaktadır. Diğer bir deyişle, sözü geçen sektörlerde kazanç yönetimi uygulamalarının belirlenmesine yönelik yeni modeller geliştirilmesi ihtiyacı bulunmaktadır.

Analysis of Accrual Based Models by Sectors in Determining Earnings Management Practices

Purpose - Earnings management can be defined as the manipulation of financial statements by managers without breaking the rules. At first glance, it is difficult to detect this manipulation, which is done consciously by managers. Detecting manipulation through “accruals” is one of the frequently used methods. In this study, Jones, Modified Jones and Kothari models were selected among the most important models developed in the previous literature. According to these models, it is aimed to determine which of the models is statistically more significant in determining earnings management practices when sectoral classification is made. Design/methodology/approach - Data were obtained through the COMPUSTAT database. Companies operating in 26 European Union member countries and England, which were active in the database between 1999 and 2020, were scanned and classified as sectoral. GIC-SECTOR Codes classification was used in the sectoral classification. The companies were classified only according to their sector codes, no other classification criteria were used. The data set consists of a total of 28,962 observations. Since the extreme values in the data set are approximately 1% of the total sample, they were not excluded from the sample under the assumption that they would not affect the overall results. Findings - Among the 11 sectors included in the GIC-SECTOR coding, 9 sectors were examined. As a result of the application of the models to the sectors, none of the models within the scope of the study gave statistically significant results in order to determine the earnings management practices of the companies operating in the Health and Communication sectors. In other sectors, at least one of the models yielded significant results. In order for the selected models to work, first of all, the beta coefficients in the models must be calculated. In this study, beta coefficients were calculated separately for each model, and the coefficients of statistically significant models were presented. Discussion - The models used within the scope of the study are the basic models used in determining the application of earnings management through accruals. However, the study shows that there is a gap in the Communication and Health sectors, even if the models are basic models. In other words, there is a need to develop new models for the determination of earnings management practices in the mentioned sectors.

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