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Öğe Bank Performance And Board Structure: Evidence From Turkey(Çanakkale Onsekiz Mart Üniversitesi, 2020-10-30) Topçu, GüneşThis paper examines the impact of board structure on financial performances of the 14 publicly traded commercial banks operating in Turkey over the period 2007 to 2019. Board structure variables are board size, proportion of independent directors on the board, and the proportion of female directors on the board. I used dynamic panel data analysis and estimated the parameters of the regression equation using the two-step generalized method of moments (GMM). Results of the regression analyses show that while board size and proportion of independent directors on the board have significant and positive impacts on banks’ financial performance, proportion of female directors on the board does not have a significant impact on banks’ financial performance. As the policy implications, banks should increase the number of independent directors on the board; however, it is difficult to explain the significance of female participationon the board as the number of women on the boards is very low for the given sample of banks.Öğe Corporate Debt Bias: Reasons and Possible Solutions(Springer Science and Business Media B.V., 2017) Topçu, GüneşThis paper examines the asymmetric taxation of debt and equity and its consequences on the capital structure of companies and the economy as a whole. Policy options, the main ones of which include the restriction or elimination of interest deductibility and the allowance for corporate equity, are proposed as solutions to the corporate debt bias. Country-specific examples of the implementation of policy options to eliminate the tax bias on debt financing are presented. Moreover, information on the availability of tax incentives for the encouragement of equity financing in Turkey is given. © 2017, Springer International Publishing AG.Öğe Does conservatism Influence Earnings Management Activities? The Case of Singapore and Indonesian Firms(Economic Laboratory Transition Research Podgorica-Elit, 2024) Elvina, Vania; Rudiawarni, Felizia arni; Sulistiawan, Dedhy; Topçu, GüneşThis paper aims to evaluate the impact of conservatism on earnings management (EM) in developed and emerging markets, Singapore and Indonesia, respectively. Conservatism is the principle requiring companies to recognize more on bad news than good news. Conditional conservatism (CC) is dependent conservatism that happens after news, but unconditional conservatism (UC) is independent conservatism that results for applying a conservative measure. We analyze both of conservatism towards accrual -based and real EM. The relation of those variables should be different between countries. Our research is based on 544 firms for accrual -based earnings management, 535 firms for real EM in Singapore, 777 firms for accrualbased EM and 654 for real EM in Indonesia from all sectors excluding the financial services industry from 2019 to 2021. We predict that conservatism affects EM, and the impact is different between emerging and developed markets. Earnings is often seen as the performance measure for a firm's analysis and valuation; thus, the conservative accounting choices used may impact the company's actions on EM. We find that CC negatively affects the company's accrual -based and real EM in the Indonesian market. UC firms tend to increase accrual -based EM. While in the Singapore stock exchange, the more conditional (unconditional) conservative the firms, the more likely the company to do more (less) real EM. Firms in Singapore present more real EM than firms in Indonesia. Conversely, firms in Indonesia have higher accrual -based EM. Our findings also provide evidence that the role of conservatism to EM is different between developed or emerging market. Our evidence supports the argument that conservatism limits accrualbased EM. Thus, more conservative firms shift to real EM.Öğe Economic uncertainty and working capital management: evidence from Turkey(Inderscience Publishers, 2023) Topçu, GüneşThe purpose of this paper is to examine the impact of economic uncertainty on the working capital management (WCM) of 96 Borsa Istanbul (BIST)-listed manufacturing firms from 2005Q1 to 2020Q4. A novel economic policy uncertainty (EPU) index for Turkey was used to measure economic uncertainty, and the cash conversion cycle (CCC) was used to measure WCM. Panel data were analysed, and the parameters of regression equations were estimated using fixed or random effects methods. The empirical results obtained indicate that EPU has a negative impact on working capital (WC) efficiency. Specifically, EPU has a significant and increasing impact on the CCC and its components, and the decrease in WC efficiency is demand related. To enhance WC efficiency, managers should maintain credit facilities, better manage the demand side, extend supplier payments, insure credits and reduce accumulated debts.Öğe Entegre Raporlamaya Genel Bir Bakış(Çanakkale Onsekiz Mart Üniversitesi, 2017-10-30) Topçu, GüneşWith the changing business landscape, the need for non-financial information as well as financial information has increased. In order to evaluate a company thoroughly, investors begin to demand all relevant information. Besides, aGer the global financial crisis in 2009, people rely less on corporate information. Analyst presentations, online news and social media are found more reliable. To get rid of those concerns, companies tried to produce more reliable and complete information about themselves. One of the results of this concern is integrated reporting. Integrated reporting is seen as the future of corporate reporting since it includes both financial and non-financial information which reveal a company’s unique value generating power. The aim of this paper is to explain the needs for integrated reporting, its benefits and give information about the implementation of it both in developed and developing countries.Öğe Financing critical mineral processing projects through security token offerings(Nova Science Publishers Inc., 2025) Topçu, GüneşAs traditional energy sources are scarce and environmental concerns gain importance due to climate change, renewable energy is seen as an alternative to fossil fuels and nuclear energy. To utilize renewable energy, critical minerals that are rare in the earth are needed. For example, while for electric vehicle (EV) batteries, lithium, cobalt, and manganese are required, neodymium and dysprosium are in demand for wind turbine generators. However, processing minerals is a tedious thing that requires building new facilities and infrastructure, which are expensive. Therefore, financing the processing of critical minerals is of great importance. With the advancement of technology, new financing methods that will increase efficiency, create a greater portfolio of investors, and minimize costs are available. This chapter aims to propose a new financing method that includes issuing security tokens through security token offerings (STOs) on a blockchain-based platform to finance the processing of critical minerals. The processed minerals will be turned into digital tokens, and when investors buy these tokens, they will have ownership rights of the processed minerals and profits from the sale of the processed minerals once the facilities and necessary infrastructure are built. Investors will redeem their tokens in exchange for the processed minerals they fractionally bought or sell tokens in the secondary market before the critical minerals are processed. © 2025 by Nova Science Publishers, Inc. All rights reserved.Öğe Impact Of Accounting Information Systems (Ais) On Fraud Detection(Çanakkale Onsekiz Mart Üniversitesi, 2019-03-15) Topçu, GüneşThis paper examines whether fraudulent activities in financial statements have decreased with the use of computerized accounting information systems (CAIS) and what can be done by accounting information systems (AIS) to decrease fraud in financial statements. Studies show that using computerized accounting information systems do not decrease fraud each time because top management instead of lower level employees is the one who commits crimes. Although enterprise resource planning systems (ERP) provide controls such as segregation of duties, they may not be sufficient to detect fraud. Instead, data mining techniques such as neural networks, decision trees and Bayesian Belief Networks may be used.Öğe Impact of Economic Policy Uncertainty on Aggregate Consumer Loans: Evidence from an Emerging Economy(Institute of Economics Academia Sinica, 2024) Topçu, Güneş; Farhang, Amir Ali; Mohammadpour, AliThis study aims to examine the impact of economic policy uncertainty (EPU) on aggregate consumer loan demand in Türkiye using a novel Turkish EPU index developed by Topçu and Oran (2021). In addition, we included inflation, interest rate, and gross domestic product (GDP) as explanatory variables. The data covers the period from 2002Q4 to 2021Q2, and the analysis was conducted using an Autoregressive Distributed Lag (ARDL) model. The results demonstrate a significant and negative impact of the lagged EPU index on the demand for consumer loan amount in the short-term, while indicating a significant and positive impact of the EPU index in the long-term. The short-term negative sign is attributed to the precautionary saving motive while the long-term positive sign reflects the influence of government policies. Alternative indices from various regions revealed that Europe, the United States (US), Russia, and global EPU had no impact on aggregate loan demand in Türkiye, except for the Chinese EPU index. In light of the significant impact that Economic Policy Uncertainty (EPU) has on consumer loan demand and given that the Turkish EPU index mainly rises due to political uncertainty and elections, it is imperative to adopt measures that strengthen institutional resilience. This strengthening will ensure that decision-making processes remain robust and effective, even amidst potential governmental changes or disruptions.Öğe IMPACT OF LEGAL AND REGULATORY QUALITIES ON FDI INFLOW: A COMPARISON OF DEVELOPED AND DEVELOPING COUNTRIES(Doğuş Üniversitesi, 2024) Topçu, GüneşThe objective of this research is to determine the impact of legal and regulatory qualities on foreign direct investment (FDI) inflows and explore its impact in developed and developing countries, comparatively. The sample comprises data on FDI inflows from 66 countries, spanning the period 2008 to 2021. To estimate the regression parameters, the quantile regression with fixed effects model proposed by Machado and Santos Silva (2019) was employed. Additionally, the regression results were supported using random effects and fixed effects models with Driscoll-Kraay (1998) standard errors. The results of the quantile regression analysis reveal that legal and regulatory qualities have a positively significant effect on FDI inflows. This impact is greater in developing countries than in developed countries, and the discrepancy increases with higher FDI levels. These findings hold important policy implications for decision-makers. To attract FDI, particularly in developing countries, it is crucial to strengthen legal systems by safeguarding property rights, establishing contractual certainty, and implementing effective dispute resolution mechanisms. More so, efforts should be taken to reduce rent-seeking behavior and prevent powerful groups from receiving unfair advantages. Failure to address these issues may increase the risks and impede a country's economic development in the long run.Öğe Measuring economic policy uncertainty in Turkey(Inderscience Enterprises Ltd., 2021) Topçu, Güneş; Oran, JaleThe purpose of this paper is to construct a monthly news-based economic policy uncertainty index for Turkey. We used the method proposed by Baker et al. (2016a) to construct the news-based index for the period from February 2000 to December 2018. We used the digital archives of five Turkish newspapers to obtain data. The results show that the Turkish EPU index is affected by both domestic and foreign events. It rises mainly with national elections, national political uncertainties, other uncertainties related to US and Turkish central banks, the failed coup attempt in Turkey, the September 11 terror attacks, and the US presidential elections. The results are in line with the expectations from emerging economies, where political instability is high. The implications of this research for emerging economies are that governments should strengthen constitutions and institutions, and that policy makers should implement economic policies that decrease country risk.Öğe The Impact of Accounting Information Systems (AIS) on Fraud Detection(Çanakkale Onsekiz Mart Üniversitesi, 2019) Topçu, GüneşThis paper examines whether fraudulent activities in financial statements have decreased with the use of computerized accounting information systems (CAIS) and what can be done by accounting information systems (AIS) to decrease fraud in financial statements. Studies show that using computerized accounting information systems do not decrease fraud each time because top management instead of lower level employees is the one who commits crimes. Although enterprise resource planning systems (ERP) provide controls such as segregation of duties, they may not be sufficient to detect fraud. Instead, data mining techniques such as neural networks, decision trees and Bayesian Belief Networks may be used.Öğe The transformative potential of smart contracts in airline financing: Aircraft leasing(Nova Science Publishers Inc., 2025) Topçu, GüneşThe airline industry faces financial challenges in the global world due to several factors, such as capital-intensive operations, volatile market conditions, technological changes, and geopolitical and unexpected events, such as the Coronavirus Disease (COVID-19) pandemic. In addition, fluctuations in oil prices directly impact operational costs, including fuel expenses, which are a critical component of lease arrangements in the airline industry. The 21st century has witnessed many technological reforms in various industries, including finance. Specifically, the introduction of blockchain technology allowed the execution of smart contracts that allowed the implementation of new financing methods. Airline financing can also benefit from blockchain technology. This chapter aims to provide an overview of the current research on smart contracts for leasing aircraft and provide insights on this new financing method by evaluating its possible advantages. For this purpose, the existing financing methods for aircraft leasing were first discussed, and then the new financing method was introduced to address the gaps in these conventional methods. The implementation of smart contracts in aircraft leasing will create efficiency gains and enhanced transparency that will have a transformative impact on aircraft financing. © 2025 Nova Science Publishers, Inc. All rights reserved.
