Journal of accounting, finance and auditing studies

1-19

Authors: Ercan ÖZEN, Leyla ŞENYILDIZ, Kenan AKARBULUT

Many academic studies show that the increase in financial savings have a positive impact on economic growth. Therefore, the growth of funds in the financial system has more important, especially in developing countries as Turkey. However, due to the interest in the traditional concept of financial and banking system, some people do not use the market to evaluate their savings because of their religious beliefs. At this point, Noninterest (Islamic) finance system could be a good alternative to current system. Measure the households’ perceptions is important to make this system more effective. The reason to measure perception is that it is one of the most important factor to influence human behavior. Participation banking is one of the leading structures of Islamic finance system in Turkey. Within this direction, the goal of this study is that measure the perceptions of households about the participation banks . In the study, data was collected from over 18 years old 510 people by randomly selected and was analyzed by ANOVA test. The results of this study suggest that the perception of participation banking is low. The study comes out that individuals’ properties such as gender, education, job and income have statistically significant impact on the knowledge level and interest perception of individuals about participation baking. This study will contribute to academicians, participation baking and related institutions to create policies about participation banking.

43-59

Authors: Adeniran Samuel FAKILE, Stephen Aanu OJEKA, Babajide OYEWO

Participation of subordinates in organization is not a new phenomenon. Workers have been participating in industry by virtue of their producing goods and services. But, the involvement of subordinates in budget planning is the focus of this study. The data for this research were collected from primary source through questionnaire. The participants had been in their job position for an average of three years. Each has also been working for their organization for an average of seven years. All statistical analyses were carried out with the aid of the SPSS software (version 21). The hypotheses tested were supported, the study established that subordinate participate in budget planning and that such participation leads to goal clearity and budget goal acceptance.

75-107

Authors: Bilgehan TEKİN

Traditional finance has developed based on two fundamental assumptions, including the expected utility theory and rational choice or decision. However, this hypothesis has been criticized heavily by put forward that are not realistic enough. The basis of behavioral finance theory is based on the “prospect theory”. According to this theory individuals cannot act fully rational, they install more sense to loses than at the same amount of profit and they exhibit risk and loss aversion behaviour. Behavioral finance is intended individuals’ understanding of the reasoning patterns that used in their financial decision-making as a more realistic by including the behavioral and emotional patterns of individuals to the decision making processes. This study has focused on traditional finance and behavioral finance fields and the basics of these two fields. And also these fields are discussed and compared with general principles. This study reflects the terms of a comprehensive view on the subject. The goal of the study is to provide a better understanding of the different viewpoints that put forward by traditional and behavioral finance disciplines as a whole. Also with this study it is aimed to contribute to the theoretical background and conceptual framework that will be used in next studies.

129-141

Authors: Seçkin GÖNEN, Emin YÜREKLİ

The framework to institutionalization and corporate governance is determined by Turkish Commercial Code numbered 6102. In other words, Turkish Commercial Code has arisen as a legal full text of both concepts. Relevant parts of Turkish Commercial Code set the basis for articles about corporate governance pertaining to transparency, equity, responsibility and accountability which are formed within Anglo-Saxon law system. Moreover, in order to increase the opportunities for more and faster credit usage and going to public in capital markets; transparent, clear, comparable and high quality financial reports stands out as principles of new Turkish Commercial Code. So as to present convenient financial reports with International Accounting Standards, businesses should complete their backgrounds for corporate governance. It’s widely known that, principles of corporate governance rests on basis for producing qualified financial reports and quality standards. The aim of this study is to evaluate principles forming corporate governance concept from Turkish Commercial Code’s aspect. Relevant articles in Turkish Commercial Code are scrutinized and inferences about are put forward.

155-171

Authors: Segun AYODELE, Adeyemo K. ADEREMI, Imoleayo F. OBIGBEMI, Stephen A. OJEKAd

This research examines the nature of relationships that exist between corporate governance mechanisms (board composition, audit committee, board size and corporate governance disclosure) and financial performance (return on equity, profit margin and return on asset) in the Nigerian oil and gas industry. Secondary data from the audited financial statements of the fifteen listed oil and gas companies in Nigeria were employed. The test of hypotheses and other analysis of data were done using Pearson Correlation and regression analysis generated from SPSS, version 17. Findings from the study revealed that insignificant but positive relationship does exist between board composition and the performance of oil and gas companies in Nigeria. Evidence also exist that corporate governance disclosure level has a positive and significant impact on the ROE. This study therefore suggests that board of directors and stakeholders of oil and gas companies in Nigeria should pay more attention towards enhancing the independence of their audit committees and the extent of their corporate governance disclosure in order to enhance their level of profitability.

195-217

Authors: Refka MAGHRAOUI, Jameleddine ZIDAI

Given divergent results of studies on the implications of employee ownership on performance and low interest granted to the probability of the existence of an eventual causality. The purpose of this contribution is to check whether there is a causal link between the two presuppositions and if so, whether the causality is unidirectional or bidirectional. Based on the econometrics of panel data, the error correction models and low exogeneity tests, the results of the econometric treatments, on a sample of French companies quoted on the stock exchange 120 over a period running from 2000 to 2012, reveal the existence of two long-term dynamics in a single direction from the performance indicators (ROA and ROE) to employee ownership.