No abstract

This study analyzes the effect of intellectual capital (IC) efficiency on firm value and financial performance indicators for companies in Islamic countries. Sample consists of 1,681 firms from eleven Islamic countries, covering eight years between 2010 and 2017. We use value-added intellectual capital (VAIC) methodology and run OLS regressions with panel data. Findings reveal that IC positively affects firm profitability and liquidity, and negatively affects leverage. Furthermore, both IC and the components of IC positively affect firm value. Lastly, Shariah-compliance has a positive impact on firm value, profitability and liquidity and a negative impact on leverage. This is the first study to analyze the effect of IC efficiency on firm value and on financial performance aspects for a very broad sample covering 11 Islamic countries at the same time. Last, this is the first study to investigate the effect of Shariah-compliance on value and financial performance attributes of firms in Islamic countries.

This study examines the association between the characteristics of the audit committee and the characteristics of the internal auditing function in public companies in Turkey. The motivation for this study stems from the important impact that effective internal auditing has on corporate governance and the limited academic literature and regulatory guidelines that explore the relationship between internal audit work and audit committee characteristics in Turkish companies. We examine the association between the size and activities of an internal audit function and audit committee quality factors, including its membership characteristics and its relationship with the IAF. The results suggest that the independence of the audit committee and audit committee experience in financial executive levels are relative to the amount of time spent on risk management.

The purpose of this article is to review the influence of Atatürk's revolutions, which were made during the period of the foundation of the Turkish Republic, on the modernization of the concept of accounting and accounting applications. The actors of the Republic made an effort to ensure the community attained a contemporary structure through social and administrative reforms, on the one hand, and took measures in order to strengthen the economic infrastructure on the other. The measures included such legislative actions as the Turkish Commercial Code and the Income Tax Code. The new codes and the transition to the Latin alphabet all positively influenced the modernization of accounting practice and education, and the adoption of the double-entry recording method. These laws, by mandating the keeping of records of transactions in Turkish extended the application of accounting throughout the country. In this article, the developments between the years 1926 and 1928, when the relevant legislative regulations were made, are reviewed.