Finansal Risklerin Yönetilmesinde Türev Ürünlerin Kullanımı: Borsa İstanbul (Bist) 100 Endeksi ndeki Şirketler Üzerine Bir Araştırma (Usage Derivatives In Management Financial Risks: A Study On Firms In Borsa Istanbul (Bist) 100 Stock Index)

Aslan, Tunay; Yılmaz, Erdal

doi:10.20491/isader.2016.165

Cited by 8 publications

(9 citation statements)

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“…İncelenen iki çalışmanın (Coşkun & Kök, 2011;Şamiloğlu & Akgün, 2016) yazımı içinde diğer çalışmalara atıfta bulunarak ticari kredi teorilerinden bahsedildiği izlenmiştir. Türk şirketlerinin risk yönetim politikalarını inceleyen üç çalışmada (Yücel, Mandacı & Kurt, 2007;Sabuncu & Çakır, 2015;Yılmaz & Arslan, 2016) BIST 100 endeksi firmalarının mali tablo ve dipnotlarının incelenmesi ile, iki çalışmada ise (Bayraktaroğlu, Sarı & Heybeli, 2012;Akın, Onat, Eser & Dalgar, 2015) yerel firmalara anket uygulanarak elde edilen bilgiler ışığında kredi risk yönetimine ilişkin değerlendirmeler yapılmıştır. Bu çalışmada, ticari alacak kredisini açıklayan teoriler hakkında bilgi verilmiş ve bu teorilerden üçü BİST gıda, içecek ve tütün sektöründe faaliyet gösteren 23 firma üzerinde test edilmiştir.…”

Section: Iskontodan Vazgeçme Maliyeti =unclassified

“…(1988) ise çalışmasında satıcı kredilerinde vergi avantajı olmadığını ve vergi tasarrufunun tedarikçi finansmanı için yeterli bir açıklama olmadığını (Brennan vd, 1988(Brennan vd, , s. 1138 savunmuştur. Meltzer (1960), Brechling ve Lipsey (1963) ve Laffer (1970) BIST 100 endeksinden seçilen şirketlerin bir finansal risk olarak kredi riski yönetimine ait bilgileri raporlama durumunu değerlendiren çalışmalar (Yücel vd., 2007;Sabuncu & Çakır, 2015;Yılmaz & Arslan, 2016) bulunmaktadır. Bu çalışmalardan Yücel vd.…”

Section: Diğer Açıklamalarunclassified

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Firmalar arası Ticari Alacak Kredisini Açıklayan Teoriler: Borsa İstanbul’da bir Uygulama

Şahin

2018

Maliye Finans Yazıları

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Interfirm trade credit that is a lending instrument between firms offers various benefits to the seller and buyer and the literature has presented a number of theories explaining trade credit based on these benefits. It was realized that the validity of these theories for the Turkish real sector has not been examined sufficiently and therefore in this study, it is aimed to give information about the trade credit theories and to test three of these theories on a sample of publicly held companies in the same sector. For this purpose, the characteristics of the seller, which affects the level of trade credit, have been investigated through the variables constructed by the data of the 23 firms determined among the food, beverage and tobacco sector companies listed in BIST. According to the findings of the analysis, firms that are being relatively younger, not receiving collateral for their accounts receivables, having a higher short-term borrowing rate and achieving a higher return on credit sales, extend more trade credits. These results reveal that the firms analysed behave in consistent with the theory of quality indicator and price discrimination theory in terms of trade credit behaviour.

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Section: Iskontodan Vazgeçme Maliyeti =unclassified

Section: Diğer Açıklamalarunclassified

Firmalar arası Ticari Alacak Kredisini Açıklayan Teoriler: Borsa İstanbul’da bir Uygulama

Şahin

2018

Maliye Finans Yazıları

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“…One of the most important tools that companies use for managing their risks is derivatives trading in derivative markets. Derivatives contribute to the reduction of future price fluctuations and the healthy functioning of the market while protecting companies ( [1], p. 663). Highly comprehensive derivative markets also have great benefits in bringing new investment tools to those markets.…”

Section: Introduction and The Rationale Of The Studymentioning

confidence: 99%

Section: Introduction and The Rationale Of The Studymentioning

confidence: 99%

“…Yilmaz and Aslan's [1] article is one of the few studies which provides statistical data on the usage rates of the derivative in Turkey. Yilmaz and Aslan [1] analyzed the companies listed on the BIST100 index in 2013-2014. In this study, they have tried to identify the proportion of firms which use derivatives and companies which use more derivative products in non-financial sectors in Turkey.…”

Section: Introduction and The Rationale Of The Studymentioning

confidence: 99%

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Financial Risks and Derivative Use of Non-financial Companies in Turkey

Yeşildağ

2019

Front. Appl. Math. Stat.

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Companies are exposed to many risks in their life. Derivatives are one of the tools that companies commonly use in order to mitigate these risks. The fluctuations in the markets in recent years have increased companies' need to use derivatives. For this reason, the importance of derivatives is increasing every day. The purpose of this study is to ascertain the financial risks which arise from the activities of non-financial companies in BIST 100 index operating in Turkey and the derivatives used in the management of these risks. In addition, this study aims to determine the differences between companies using derivatives and those not using derivative products. Therefore, the year-end financial reports of 58 companies, which were continuously in the BIST100 index between 2013 and 2018 were analyzed. The study results showed that the risks that the companies were exposed to included credit risk, liquidity risk, interest risk, currency risk and other risks and only half of the companies, on average, used derivatives in the management of these risks. In addition, it was observed that companies rather hedged themselves against currency risks through futures contracts and used more derivatives in the transportation and energy sectors. Besides, it is seen that the companies using derivative products are big and low liquid companies.

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Risk Disclosure on Accounting and Financial Reporting Standards: Content Analysis of Borsa İstanbul (Bist) Manufacturing Sector

GALİP¹,

AYGÜN

2022

Dokuz Eylül Üniversitesi Sosyal Bilimler Enstitüsü Dergisi

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The information and data produced by the accounting system reflects the changes in the economy and the sector, as well as the effects of the decisions taken within the company on the business structure and operating results. The risks that companies face in the market are important for financial information users. The standards established for an international accounting practice in this regard also state that the information to be disclosed to the public should include the risks that companies are exposed to. The aim of this study is to analyze the risk disclosures of companies that prepare their financial statements according to international accounting standards in Turkey and to shed light on the relationship between accounting data and risk. In this context, the risk disclosure of companies in the BIST Manufacturing sector for 2020 were analyzed in terms of content. As a result of the analysis, data on the derivatives in IFRS 9 and the status of hedge accounting in financial statements and the risk types arising from financial instruments in IFRS 7 are presented. Accordingly, it has been determined that 32% of the companies use derivative instruments and 20% apply hedge accounting. In addition, qualitative and quantitative disclosure data of companies regarding credit, liquidity, market and other risk disclosures for 2020 were also analyzed. In the footnotes section of the risks arising from financial instruments, it was determined that the most data was related to the foreign currency risk. It has been observed that 50% of the companies that make credit risk disclosures do not make maturity analysis. Finally, the explanations on interest rate risk, other price risk and capital risk were analyzed in terms of content

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Finansal Risklerin Yönetilmesinde Türev Ürünlerin Kullanımı: Borsa İstanbul (Bist) 100 Endeksi ndeki Şirketler Üzerine Bir Araştırma (Usage Derivatives In Management Financial Risks: A Study On Firms In Borsa Istanbul (Bist) 100 Stock Index)

Cited by 8 publications

References 0 publications

Firmalar arası Ticari Alacak Kredisini Açıklayan Teoriler: Borsa İstanbul’da bir Uygulama

Firmalar arası Ticari Alacak Kredisini Açıklayan Teoriler: Borsa İstanbul’da bir Uygulama

Financial Risks and Derivative Use of Non-financial Companies in Turkey

Risk Disclosure on Accounting and Financial Reporting Standards: Content Analysis of Borsa İstanbul (Bist) Manufacturing Sector

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