Geniş kapsamlı karın değer ile ilişkisi: İstanbul Menkul Kıymetler Borsası (İMKB) uygulaması

ABSTRACTMaster with ThesisThe Value Relevance of Comprehensive Income: An Application at Istanbul StockExchange (ISE)Evrim CIHANGIRDokuz Eylul UniversityInstitute of Social SciencesDepartment of Business Administration (English)In globalizing environment, markets need integrated accounting systems, globalstandards and statements. These global standards and statements help investors to makedecisions in an international basis. As a result of globalization, traditional concepts havechanged and new concepts have emerged. One of these new concepts is ?comprehensiveincome?.The main purpose of this study is to analyze the empirical and the theoretical studieson comprehensive income, then define comprehensive income in a general perspectiveand finally investigate the value relevance of comprehensive income for firms listed inISE. While performing these analyses, it is aimed to find an answer to the questionsabout the superiority of comprehensive income over net income.The first chapter defines comprehensive income concept under alternative measuresof income. The basics and other components of comprehensive income are explained inthe second chapter. In the third chapter, reporting comprehensive income and itsalternative formats are discussed. The value relevance of comprehensive income and itscomponents are discussed in the fourth chapter. Finally, in the fifth chapter, empiricalanalyses are conducted to test the value relevance of comprehensive income.The data is obtained from ISE for the period 2004-2005 and analyses are conductedfor 141 firm-years for non-financial firms.The results show that there is a relationship between change in stock price andcomprehensive income, and net income. However, net income has greater explanatorypower on stock price changes than comprehensive income.Key Words: 1) Comprehensive Income 2) Income 3) Value Relevance 4) ISE 5) StockPrice