Understanding the Role of Initial Public Offerings in Financial Manipulation: Institutionalization or Cautiousness?

Basit Öğe Kaydı
dc.contributor.authorAydin, Esra
dc.contributor.authorBilgiç, Emre
dc.date.accessioned2025-03-20T09:44:54Z
dc.date.available2025-03-20T09:44:54Z
dc.date.issued2024
dc.departmentİzmir Bakırçay Üniversitesi
dc.description.abstractIn recent years, it is observed that there has been an increase in enterprises that have initial public offerings (IPO)Initial public offerings (IPO) on Istanbul Stock ExchangeStock Exchange (ISE). In IPO process, it is significant for firms to show strong financial position in their prospectuses to be approved by officials and to attract investors. Although it is expected that firms are cautiously and transparently prepare their prospectuses because they are legally responsible for information in prospectuses, they may sometimes manipulate their financial statements in the prospectuses to show strong financial position. On the other hand, it is theoretically assumed that firms become more institutionalized through IPO process and the tendency of institutionalized firms to manipulate financial statements becomes lower. However, it is known that there are institutionalized firms that conducted financial manipulationFinancial manipulation in the past. In this sense, this study aims to analyze how does the financial manipulationFinancial manipulation behavior of firms in Türkiye differs before and after the IPO? To this end, two different samples consisting of Turkish firms were analyzed by Beneish M ScoreBeneish M Score model and differences between 2020, 2021, and 2022 years in terms of financial manipulationFinancial manipulation possibility were investigated by one-way Anova and Kruskal Wallis tests. The tendency of firms to conduct financial manipulationFinancial manipulation is lower in pre-IPO period than in post-IPO period. Also, it can be said that the average of enterprises is below the critical threshold which means that there is no strong evidence indicating that they are manipulator enterprises. © The Author(s), under exclusive license to Springer Nature Singapore Pte Ltd. 2024.
dc.identifier.doi10.1007/978-981-97-4351-3_9
dc.identifier.endpage147
dc.identifier.issn2509-7873
dc.identifier.scopus2-s2.0-85217992686
dc.identifier.scopusqualityQ4
dc.identifier.startpage133
dc.identifier.urihttps://doi.org/10.1007/978-981-97-4351-3_9
dc.identifier.urihttps://hdl.handle.net/20.500.14034/2049
dc.identifier.volumePart F4056
dc.indekslendigikaynakScopus
dc.language.isoen
dc.publisherSpringer Nature
dc.relation.ispartofAccounting, Finance, Sustainability, Governance and Fraud
dc.relation.publicationcategoryKitap Bölümü - Uluslararası
dc.rightsinfo:eu-repo/semantics/closedAccess
dc.snmzKA_Scopus_20250319
dc.subjectBeneish M Score
dc.subjectFinancial manipulation
dc.subjectInitial public offerings
dc.titleUnderstanding the Role of Initial Public Offerings in Financial Manipulation: Institutionalization or Cautiousness?
dc.typeBook Part

Dosyalar

Koleksiyon

Scopus İndeksli Yayınlar Koleksiyonu