Çiğdem

Esin

The main purpose of this study is to cluster production companies operating in Borsa Istanbul based on the most important financial indicators using the k-means clustering method and to find the natural and accurate structure of these companies. Some studies determine the performance of companies and even universities in different sectors by using financial ratios and indicators alongside the k-means clustering method in order to determine their place in the sector.Unlike other studies, this study aims to determine the most appropriate grouping structure by running an algorithm for different initial centers. In other words, it aims to eliminate one of the drawbacks of the k-means clustering analysis, which is the selection of initial centers, by considering different initial centers from inside the dataset. In addition, the natural structure (i.e., grouping structure) of production companies is not well defined, which means that the accurate value of k is not determined. As such, the k-means clustering algorithm is applied for different values of k (e.g., 2, 3, 4, and 5) in order to determine which cluster group is more accurate using the silhouette index and elbow method. Determining the best valueof k provides information about how many clusters similar companies will be grouped into in terms of financial performance similarities of production companies.Due to one of the study’s goals being to understand and determine the natural structure of production companies, having a long enough study period is desired. The study covers 11 years of data. Although Borsa Istanbul had142 different companies operating during this period of analysis, the 42 companies of these that did not operate throughout the entire 11-year period were not included in the study. To discover the similarities between these companies concerning their financial performance, this study needed to examine their financial ratios. Due to variation of the number of financial ratios in the literature, the researcher in this study has decided to select the financial ratios to be used in the analysis based on scientific reasons. This study has examined the literature and resultantly uses 15 financial ratios and two indicators. Four of these show the ability of short-term assets to meet the short-term liabilities of companies, five show the profitability of companies, and three show the ability of a company to effectively used their liabilities. One instance that should not be overlooked in this situation is the possibility of obtaining varied outcomes by grouping these producing organizations with various financial ratios.During the study period, the EREGL and TUPRS listings remained in the same group and showed similarities in terms of financial performance. In Year 2, the ARCLK listing was added to this group and remained in the same group as EREGL and TUPRS for all subsequent years. In Year 3, AEFES was added to this group. Similar to ARCLK, AEFES continued to participate in the same group for all subsequent years after joining the group. In Year 4, the TOASA and VESTL listings were included in this group. In addition, the FROTO listing has been determined to be in the same group as these companies only for Years 6 and 10. ARCLK, ERGL, TUPRS, and AEFES were discovered to be part of the same cluster group for 8 years.As a result of the findings obtained from the study, the financial performance of production companies can be said to have been preserved over time. However, the fact that 40 companies were not included in the study due to data losses may indicate that the resulting cluster groups do not fully reflect reality. Future studies may obtain more effective results by comparingthe results that were obtained using different clustering methods. In addition, which of the cluster groups is more suitablecan be determined using different statistical methods.

Evaluating Production Companies on Borsa Istanbul In Terms of Financial Indicators: Clustering Companies Using K-Means with the Silhouette Index and Elbow Method

Gözde

İrem

As a result of developments in environmental, social, and governance areas, sustainability has become very important in corporate governance. Negative aspects such as the COVID-19 pandemic, climate crises, and waste problems experienced in recent years have resultantly increased enterprises’ governance risks. Sustainability has great importance in terms of economic as well as environmental and social aspects. In this regard, investors want to invest in things with sustainable value. Communication between businesses and financial statement users is provided by reporting, and the need for sustainability reporting in addition to financial reporting increases daily. For this purpose, the International SustainabilityStandards Board (ISSB) published the International Financial Reporting Standards IFRS S1 General Requirements for Disclosure of Sustainability-Related Financial Information (Exposure Draft) Standard and the IFRS S2 Climate-Related Disclosures (Exposure Draft) Standard on March 31, 2022, with the Turkish version of these standards having been made available to users in Türkiye.This study first explains the concept of sustainability and then examines the IFRS S1 and S2 Exposure Draft Standards in detail under the heading of reporting sustainable information. The study’s research includes the 25 enterprises on the BIST Sustainability 25 Index in its analysis. These enterprises have high sustainability performance and high liquidity. The fieldsof activity these enterprises are involved in include transportation, storage, retail, finance, construction, electricity, gas, water, information, and communication. The study examines the financial reports, sustainability reports, annual reports, integrated reports, and assurance reports from these enterprises for 2021. Table 1 shows the distributions of the analyzed reports according to type. In addition, Figure 2 shows the sectoral distributions of the examined enterprises, and Figure 3 shows their total asset sizes, and Figure 4 shows their total net sales.Descriptive and content analyses have been used side by side in the research. The first core process in the IFRS S1 and IFRS S2 (Exposure Draft) Standards is governance. Within the scope of the descriptive analysis in this context, the governance criteria have been divided into 8 sub-criteria by taking into account the governance requirements specified as the information that enterprises need to disclose under the governance heading in the IFRS S1 and IFRS S2 (Exposure Draft) Standards. The presence of each criterion was first examined through the sustainability reports of the 25 enterprises that are the subject of the research. For enterprises that do not have a sustainability report, their annual reports and/or integrated annual reports have been taken into account. Accordingly, each criterion found to be present in the reports was scored as “1”, and each criterion found to be absent was scored as “0”. The total number of criteria that were determined to be present and scored as “1” for each enterprise was calculated as a fraction by proportioning the total number of governance criteria to the total number of criteria.As the second part of the research, the content analysis examined the strategy, risk management, and metrics and targets criteria regarding the IFRS S1 and IFRS S2 (Exposure Draft) Standards. This section only conducted a qualitative content evaluation study. In addition, the 2021 annual financial reports of the enterprises were analyzed using the content analysis method in terms of their financial information disclosures related to sustainability. In this direction, the content analysis was carried out on the enterprises’ financial reports, as well as on their sustainability reports and other reports regarding sustainability disclosures. This was done in an attempt to determine under which section or heading, for which subjects, and to what extent the enterprises included explanations regarding sustainability on their financial reports.

Considerations about Adapting to IFRS S1 and S2 With Regard to Sustainability Reporting: Research Regarding Enterprises on the BIST Sustainability 25 Index

Yusuf

Firms have an important place in countries’ economies and create added value for society. However, they can also cause environmental pollution as a result of their production activities. On the other hand, societal awareness regarding such issues as carbon emissions, climate change, and consumption of natural resources has increased. Thus, stakeholders expect firms to fulfill their environmental, social, and corporate governance responsibilities (Liao et al., 2023). The performances of firms regarding these issues can be described through the components of environmental, social, and corporate governance (ESG).ESG can be explained as a non-financial evaluation system that considers how firms address the environment, society, and corporate governance for supporting their sustainable development and encourages firms to focus on the interests of stakeholders (Chen et al., 2023). ESG activities are important for investors as they represent the risks and opportunitiesfirms face. In addition to financial information, investors can also use non-financial information such as ESG factors when making investment decisions (Limkriangkrai et al., 2017). In this context, firms’ ESG performances also affect the level of their cash holdings (Atif et al., 2022).Cash holding decisions are important for the continuance of a firm’s activities and its ability to overcome extraordinary situations (Li et al., 2021). Therefore, cash holdings have two main benefits: a transaction motive and a precautionary motive. However, managers and shareholders often evaluate the benefits and costs of cash holdings differently. This situation is explained by agency theory (Opler et al., 1999). An effective monitoring mechanism can help resolve agency problem a firm is experiencing. In this context, ESG disclosures may provide firm-specific information to shareholders with regard to monitoring its use of cash holdings (Atif et al., 2022).This study aims to investigate the effect ESG scores have on cash holdings by using panel regression models to estimate the data of firms traded on the BIST Sustainability Index between 2015-2021. The literature reveals a limited studies to have examined the effect of ESG performance on the level of cash holdings (e.g., Atif et al., 2022; Alhares et al., 2023; Liu et al., 2023). This is because most studies in the literature have generally focused on firms’ financial performance, market value, and capital costs (e.g., Velte, 2017; Eliwa et al., 2021; Zhou et al., 2022; Chen et al., 2023). In this regard, the current study is expected to contribute to expanding the studies that estimate the relationship between ESG performance and cash holdings. In addition, this study also enables the impact of both ESG performance and ESG dimensions to be evaluated regarding cash holdings in Türkiye as an emerging market.The study uses cash holdings as the dependent variable and overall ESG score and the individual ESG component scores as the independent variables. The control variables include financial leverage ratio, market-to-book value ratio, net working capital, and retained earnings. As a result, the study has determined the overall ESG score to have a positive and significant effect. In other words, an increase in a firm’s overall ESG performance also increases its cash holdings. At the same time, the individual ESG component scores were also determined to have a positive significant impact on cash holdings. In terms of the control variables, the effect of financial leverage, market-to-book value, and net working capital on the level of cashholdings was found to be positive, while the effect of retained earnings on cash holdings was concluded to be negative. According to the study’s findings, firms can be stated to hold more cash in order to reduce the risk of financial distress, overcome extraordinary situations, and gain a competitive advantage.

The Role of Environmental, Social, and Corporate Governance Activities in Cash Holding Policies: The Case of the BIST Sustainability Index

Working capital involves the simple idea of bridging the gap between a business’ current assets and short-term debt. Having a well-planned working capital is expected to increase profitability and company value. Working capital management is closely related to companies’ basic business activities such as purchasing, production, income generation, receivables collection, and payment management. The concept of working capital covers the activities of good planning and the control of current assets and short-term debts. Each component of working capital (e.g., receivables, inventories, and liabilities) must be properly managed to optimize working capital. In order to achieve this, receivables, stocks, and debt items need tobe to constantly monitored and controlled, and receivables, stocks, and debt levels are not expected to be the same for each business.The international literature shows the subjects that deal with the variable of investment decisions to mainly involve cash flow cycle, dividends, and changes in debts. In terms of working capital management, studies conducted in the national and international literature have been observed to mostly measure the relationship with the variable of firm performance. This study has the feature of being a first due to no study being found regarding working capital management’s effects on investment decisions in the national literature in terms of the variables mentioned above.The research aims to determine the effect of working capital management on the investment decisions of the companies traded on Borsa Istanbul (BIST) using fixed assets to represent investment decisions and the variables of net working capital, receivables turnover, inventory turnover, and cash ratio to represent working capital. The research includes the variables of cash flows from main activities, business size, and growth rate as the control variables.In order to determine the effect of working capital management on the investment decisions of the companies traded in the BIST 50 index, the study uses financial statement data was this published annually at the end of the 2013-2022 period. Relevant data were obtained from the Public Disclosure Platform (PDP). Due to the reporting formats of financial institutions traded on the BIST 50 index differing from the reporting formats of other enterprises, financial institutions have been excluded from the scope of the research. In addition, businesses that started being traded on the BIST 50 index after 2013 were not included in the research in order to arrive at healthy and reliable results. In this context, the research has been carried out with 2,720 pieces of data on 34 enterprises, with the obtained data being analyzed using the panel data method. The research was carried out over one dependent variable (i.e., fixed assets), four independent variables (i.e., net working capital, receivables turnover, inventory turnover, and cash ratio), and three control variables (i.e., cash flows from main activities, business size, and growth rate). Autocorrelation issues related to the research model were tested using the Breusch- Godfrey LM Test, and heteroscedasticity issues were tested using the Breusch-Pagan/Cook-Weisberg Test. The probability value for the autocorrelation problem in the model was determined as p &lt; 0.05. This result shows the presence of an autocorrelation problem among the series in the model. The probability value of whether any variable variance issues occur in the model was determined as p &gt; 0.05. In this case, variable variance problems were concluded to not be present in the model. The Hausman test was used to decide whether the fixed-effects model or random-effects model would be chosen for this study. According to the Hausman test results, the best estimator for the model has been determined as the random effects estimator. The random effects estimator was tested with the Cochrane-Orcutt method, which takes into account the autocorrelation issues among the series in the model.According to the obtained results, the study has determined net working capital to have a significant negative effect and firm size to have a significant positive effect on enterprises’ investment decisions. The probability values for the variables of receivables turnover, inventory turnover, cash ratio, cash flows from main activities, and were determined as p &gt; 0.05. Therefore, these variables have been determined to have no significant effect on enterprises’ investment decisions.

The Effect of Working Capital Management on Businesses’ Investment Decisions

Gürol

Kaan

Nazan

Öğretim Görevlisi Dr.

Kadir

Managing and Reporting Liquidity Risks: Silicon Valley Bank Case

Fatma

Prof.

@JOURNAL_BOX_CURRENT

@JOURNAL_BOX_EARLYVIEW

Sabri

The road to prosperity with the Industrial Revolution was now through production and sale to the world through free trade policies and instruments. Until then, the exploitation of precious metals and the accumulation of commercial capital in the world through international trade had continued to increase since the second half of the century. In fact, the growth rate of industrial production and world trade in the following years had been significantly higher than in previous years and periods.Increased trade with the effect of the industrial revolution has led to the need for trade education. Commercial education, which began with the Industrial Revolution in Europe and the United States, is the foundation of today’s major trade schools. In this study, we examined how business education began in Europe and the United States, the steps it took and how it was taught.Economic growth and development are not the same things, although economic growth is a phenomenon that is followed by almost everyone. Economic growth includes the increase in per capita national income. Development involves both economic growth and structural change. Economic development occurs over a long period of time when there is an increase in the economic welfare of individuals in a country. The idea of a link between development and foreign trade in economic theory is based on classical economists. Adam Smith and David Ricardo, J.S., who were the representatives of the liberal view, who produced their works in the second half of the 18th century and the first half of the 19th century. Classical economists like Mill talk about the dynamic effects of markets. Not only one country will benefit from free foreign trade, but international prosperity and exchange will increase prosperity all over the world. Since the second half of the 19th century and at the beginning of the 20th century, there has been strong criticism of the views of the Classical School.The systematic penetration of trade education into the European and American Education Systems, which is the basis of today’s Faculties of Business and Economics, has been with the Industrial Revolution. These schools, which constitute the foundations of today’s highly respected universities, have given great importance to the merchant sector and they have never denied the material and moral support of these schools both during the establishment and development of these schools. Over time, the educational contents changed, were updated and started to use modern educational techniques required by the era. The main reason for the emergence of these schools was the need for qualified manpower required by the trade. Realizing that economic growth cannot be lasting without economic development, the western world has seen and continued to invest in people who are at the heart of economic growth.In fact, in our country, trade education has started to be given in a way that does not fall behind the Western examples. The Greek nation, which was the best nation in the Ottoman Empire, established the Elen Commerce School in Heybeliada (Halki), the first private business school of the country, in 1831 and began to train traders in need of trade. Following the closure of the Elen School of Commerce for various reasons, the Hamidiye School of Commerce was established in 1883 as the first public school of the country. After school, it became Istanbul Academy of Economic and Commercial Sciences, and gave life to Marmara University which is today one of the biggest universities in the country.

Business Education in Europe and in the United States after the Industrial Revolution

Kevser

Havva

Plagiarism Perception of University Students

@JOURNAL_BOX_FEATURED

Mustafa

Future of the Accounting Profession in Turkey

Mahmut

Murat

Assist. Prof.

Lecturer

The Future of the Accounting Profession in the Light of Digitalization

@JOURNAL_BOX_MOSTREAD

Journal of Accounting Institute - Muhasebe Enstitüsü Dergisi has been an official publication of Institute of Accounting affiliated to Istanbul University Business School since 1975. It is an open access, peer-reviewed, scientific journal published both in print and electronically, two times a year in January and July.

The aim of the Muhasebe Enstitüsü Dergisi – Journal of Accounting Institute is to contribute to dissemination of scientific knowledge about the field of accounting and business administration both at national and international levels by publishing articles in Turkish and English. In line with this objective the journal seeks to publish high quality scholarly papers.

The journal considers ampirical, theoretical or review articles within the defined scope in below and welcomes interdisciplinary studies as well. The target group of the Journal consists of the academics, researchers, students and related vocational or academic institutions and establishments.

Major subject areas of interest include, but are not restricted to the other fields: Accounting, Financial and non-financial reporting, Finance, Financial analysis, Auditing, Institutional management, risk management and internal control, Accounting history, Interdisciplinary studies which are related to the topics: accounting, auditing and finance.

All expenses of the journal are covered by the Istanbul University. Processing and publication are free of charge with the journal. There is no article processing charges or submission fees for any submitted or accepted articles.

RePEc IDEAS

RePEc EconPapers

DOAJ

EBSCO

Cabells Journalytics

@METRIC_VOLUMES

@METRIC_ISSUES

@METRIC_ARTICLES

@METRIC_OPENACCESS

Journal of Accounting Institute

@INFO_TAB_ABOUT

Editor in Chief

Deputy Editor in Chief

Editorial Management Member

English Language Editor

Editorial Board Member

@INFO_TAB_BOARDS

The aim of the Muhasebe Enstitüsü Dergisi – Journal of Accounting Institute is to contribute to dissemination of scientific knowledge about the field of accounting and business administration both at national and international levels by publishing articles in Turkish and English. In line with this objective the journal seeks to publish high quality scholarly papers. All expenses of the journal are covered by the Istanbul University. Processing and publication are free of charge with the journal. There is no article processing charges or submission fees for any submitted or accepted articles. The journal considers ampirical, theoretical or review articles within the defined scope in below and welcomes interdisciplinary studies as well. The target group of the Journal consists of the academics, researchers, students and related vocational or academic institutions and establishments. Major subject areas of interest include, but are not restricted to the fields in below. • Accounting • Financial and non-financial reporting • Finance • Financial analysis • Auditing • Institutional management, risk management and internal control • Accounting education • Accounting history • Interdisciplinary studies which are related to the topics: accounting, auditing and finance

Aim and Scope

RePEc IdeasRePEc EconpapersEBSCO Business Source UltimateEBSCO Central &amp; Eastern European Academic SourceDOAJCabells Journalytics

Indexing and Abstracting

The journal is committed to upholding the highest standards of publication ethics and pays regard to Principles of Transparency and Best Practice in Scholarly Publishing published by the <a href="https://publicationethics.org/" target="_blank">Committee on Publication Ethics (COPE)</a>, the <a href="https://doaj.org/apply/transparency/#principles-of-transparency-and-best-practice-in-scholarly-publishing" target="_blank">Directory of Open Access Journals (DOAJ)</a>, the <a href="https://oaspa.org/" target="_blank">Open Access Scholarly Publishers Association (OASPA)</a>, and the <a href="https://www.wame.org/" target="_blank">World Association of Medical Editors (WAME)</a> on <a href="https://publicationethics.org/resources/guidelines-new/principles-transparency-and-best-practice-scholarly-publishing" target="_blank">https://publicationethics.org/resources/guidelines-new/principles-transparency-and-best-practice-scholarly-publishing</a> The subjects covered in the manuscripts submitted to the Journal for publication must be in accordance with the aim and scope of the Journal. Only those manuscripts approved by every individual author and that were not published before in or sent to another journal, are accepted for evaluation.Changing the name of an author (omission, addition or order) in papers submitted to the Journal requires written permission of all declared authors.Plagiarism, duplication, fraud authorship/denied authorship, research/data fabrication, salami slicing/salami publication, breaching of copyrights, prevailing conflict of interest are unethical behaviors. All manuscripts not in accordance with the accepted ethical standards will be removed from the publication. This also contains any possible malpractice discovered after the publication. Plagiarism Submitted manuscripts that pass preliminary control are scanned for plagiarism using iThenticate software. If plagiarism/self-plagiarism will be found authors will be informed. Editors may resubmit manuscript for similarity check at any peer-review or production stage if required. High similarity scores may lead to rejection of a manuscript before and even after acceptance. Depending on the type of article and the percentage of similarity score taken from each article, the overall similarity score is generally expected to be less than 15 or 20%. Double Blind Peer-Review After plagiarism check, the eligible ones are evaluated by the editors-in-chief for their originality, methodology, the importance of the subject covered and compliance with the journal scope. The editor provides a fair double-blind peer review of the submitted articles and hands over the papers matching the formal rules to at least two national/international referees for evaluation and gives green light for publication upon modification by the authors in accordance with the referees’ claims.

Policies

The journal is an open access journal and all content is freely available without charge to the user or his/her institution. Except for commercial purposes, users are allowed to read, download, copy, print, search, or link to the full texts of the articles in this journal without asking prior permission from the publisher or the author. This is in accordance with the <a href="https://www.budapestopenaccessinitiative.org/read" target="_blank">BOAI</a> definition of open access.The open access articles in the journal are licensed under the terms of the Creative Commons Attribution-NonCommercial 4.0 International (<a href="https://creativecommons.org/licenses/by-nc/4.0/deed.en" target="_blank">CC BY-NC 4.0</a>) license.

All expenses of the journal are covered by the Istanbul University. Processing and publication are free of charge with the journal. There is no article processing charges or submission fees for any submitted or accepted articles.

Authors publishing with the journal retain the copyright to their work licensed under the Creative Commons Attribution-NonCommercial 4.0 International license (<a href="https://creativecommons.org/licenses/by-nc/4.0/" target="_blank">CC BY-NC 4.0</a>) (<a href="https://creativecommons.org/licenses/by-nc/4.0/" target="_blank">https://creativecommons.org/licenses/by-nc/4.0/</a> ) and grant the Publisher non-exclusive commercial right to publish the work. CC BY-NC 4.0 license permits unrestricted, non-commercial use, distribution, and reproduction in any medium, provided the original work is properly cited.

Editor should consider publishing correction if minor errors that do not effect the results, interpretations and conclusions of the published paper are detected. Editor should consider retraction if major errors and/or misconduction that invalidate results and conclusions are detected.Editor should consider issuing an expression of concern if there is evidence of research or publication misconduct by the authors; there is evidence that the findings are not reliable and institutions of the authors do not investigate the case or the possible investigation seems to be unfair or nonconclusive. The guidelines of <a href="https://publicationethics.org/resources/flowcharts/complete-set-english" target="_blank">COPE</a> and <a href="https://www.icmje.org/recommendations/" target="_blank">ICJME</a> are taken into consideration regarding correction, retractions or expression of concern.

To guarantee that all papers published in the journal are maintained and permanently accessible, articles are stored in Dergipark which serves as a  national archival web site and at the same time permits LOCKSS to  collect, preserve, and serve the content.Additionally, authors are encouraged to self-archive the final PDF version of their articles in open electronic archives with  that conform to standards of Open Archives Initiative (<a href="https://www.openarchives.org/" target="_blank">https://www.openarchives.org/</a>). Authors should provide a link from the deposited version to the URL of IUPress journal website.

<div style="text-align: left;">Journal of Accounting Institute- Muhasebe Enstitüsü Dergisi is committed to upholding the highest standards of publication ethics and pays regard to Principles of Transparency and Best Practice in Scholarly Publishing published by the <a href="https://publicationethics.org/" target="_blank">Committee on Publication Ethics (COPE)</a>, the <a href="https://doaj.org/apply/transparency/#principles-of-transparency-and-best-practice-in-scholarly-publishing" target="_blank">Directory of Open Access Journals (DOAJ)</a>, the <a href="https://oaspa.org/" target="_blank">Open Access Scholarly Publishers Association (OASPA)</a>, and the <a href="https://www.wame.org/" target="_blank">World Association of Medical Editors (WAME)</a> on <a href="https://publicationethics.org/resources/guidelines-new/principles-transparency-and-best-practice-scholarly-publishing" target="_blank">https://publicationethics.org/resources/guidelines-new/principles-transparency-and-best-practice-scholarly-publishing</a></div>All submissions must be original, unpublished (including as full text in conference proceedings), and not under the review of any other publication synchronously. Authors must ensure that submitted work is original. They must certify that the manuscript has not previously been published elsewhere or is not currently being considered for publication elsewhere, in any language. Applicable copyright laws and conventions must be followed. Copyright material (e.g. tables, figures or extensive quotations) must be reproduced only with appropriate permission and acknowledgement. Any work or words of other authors, contributors, or sources must be appropriately credited and referenced.Each manuscript is reviewed by one of the editors and at least two referees under double-blind peer review process. Plagiarism, duplication, fraud authorship/denied authorship, research/data fabrication, salami slicing/salami publication, breaching of copyrights, prevailing conflict of interest are unnethical behaviors.All manuscripts not in accordance with the accepted ethical standards will be removed from the publication. This also contains any possible malpractice discovered after the publication. In accordance with the code of conduct we will report any cases of suspected plagiarism or duplicate publishing.

Ethics

Journal of Accounting Institute- Muhasebe Enstitüsü Dergisi adheres to the highest standards in research ethics and follows the principles of international research ethics as defined below. The authors are responsible for the compliance of the manuscripts with the ethical rules.-    Principles of integrity, quality and transparency should be sustained in designing the research, reviewing the design and conducting the research.-    The research team and participants should be fully informed about the aim, methods, possible uses and requirements of the research and risks of participation in research.-    The confidentiality of the information provided by the research participants and the confidentiality of the respondents should be ensured. The research should be designed to protect the autonomy and dignity of the participants.-    Research participants should participate in the research voluntarily, not under any coercion.-    Any possible harm to participants must be avoided. The research should be planned in such a way that the participants are not at risk.-    The independence of research must be clear; and any conflict of interest or must be disclosed.-    In experimental studies with human subjects, written informed consent of the participants who decide to participate in the research must be obtained. In the case of children and those under wardship or with confirmed insanity, legal custodian’s assent must be obtained.-    If the study is to be carried out in any institution or organization, approval must be obtained from this institution or organization.-    In studies with human subject, it must be noted in the method’s section of the manuscript that the informed consent of the participants and ethics committee approval from the institution where the study has been conducted have been obtained.

It is authors’ responsibility to ensure that the article is in accordance with scientific and ethical standards and rules. And authors must ensure that submitted work is original. They must certify that the manuscript has not previously been published elsewhere or is not currently being considered for publication elsewhere, in any language. Applicable copyright laws and conventions must be followed. Copyright material (e.g. tables, figures or extensive quotations) must be reproduced only with appropriate permission and acknowledgement. Any work or words of other authors, contributors, or sources must be appropriately credited and referenced.All the authors of a submitted manuscript must have direct scientific and academic contribution to the manuscript. The author(s) of the original research articles is defined as a person who is significantly involved in “conceptualization and design of the study”, “collecting the data”, “analyzing the data”, “writing the manuscript”, “reviewing the manuscript with a critical perspective” and “planning/conducting the study of the manuscript and/or revising it”. Fund raising, data collection or supervision of the research group are not sufficient roles to be accepted as an author. The author(s) must meet all these criteria described above. The order of names in the author list of an article must be a co-decision and it must be indicated in the <a href="https://cdn.istanbul.edu.tr/file/JTA6CLJ8T5/645D9DF58E5C45A4ACF7B7494378C8B4" target="_blank">Copyright Agreement Form</a>. The individuals who do not meet the authorship criteria but contributed to the study must take place in the acknowledgement section. Individuals providing technical support, assisting writing, providing a general support, providing material or financial support are examples to be indicated in acknowledgement section.All authors must disclose all issues concerning financial relationship, conflict of interest, and competing interest that may potentially influence the results of the research or scientific judgment.When an author discovers a significant error or inaccuracy in his/her own published paper, it is the author’s obligation to promptly cooperate with the Editor-in-Chief to provide retractions or corrections of mistakes.

Editor evaluates manuscripts for their scientific content without regard to ethnic origin, gender, sexual orientation, citizenship, religious belief or political philosophy of the authors. Editor provides a fair double-blind peer review of the submitted articles for publication and ensures that all the information related to submitted manuscripts is kept as confidential before publishing.Editor is responsible for the content and overall quality of the publication and must publish errata pages or make corrections when needed.Editor does not allow any conflicts of interest between the authors, editors and reviewers. Only editor has the full authority to assign a reviewer and is responsible for final decision for publication of the manuscripts in the Journal.Reviewers’ judgments must be objective. Reviewers must ensure that all the information related to submitted manuscripts is kept as confidential and must report to the Editor if they are aware of copyright infringement and plagiarism on the author’s side.A reviewer who feels unqualified to review the topic of a manuscript or knows that its prompt review will be impossible should notify the Editor and excuse himself from the review process.The editor informs the reviewers that the manuscripts are confidential information and that this is a privileged interaction. The reviewers and editorial board cannot discuss the manuscripts with other persons. Unless the authors and editor permit, the reviews of referees cannot be published or disclosed. The anonymity of the referees is important. In particular situations, the editor may share the review of one reviewer with other reviewers to clarify a particular point.

Only those manuscripts approved by its every individual author and that were not published before in or sent to another journal, are accepted for evaluation.Submitted manuscripts that pass preliminary control are scanned for plagiarism using iThenticate software. After plagiarism check, the eligible ones are evaluated by editor-in-chief for their originality, methodology, the importance of the subject covered and compliance with the journal scope.The editor hands over the papers matching the formal rules to at least two national/international referees for double-blind peer review evaluation and gives green light for publication upon modification by the authors in accordance with the referees’ claims.

Peer Review

Only those manuscripts approved by its every individual author and that were not published before in or sent to another journal, are accepted for evaluation.Submitted manuscripts that pass preliminary control are scanned for plagiarism using iThenticate software. After plagiarism check, the eligible ones are evaluated by editor-in-chief for their originality, methodology, the importance of the subject covered and compliance with the journal scope.  Editor-in-chief evaluates manuscripts for their scientific content without regard to ethnic origin, gender, sexual orientation, citizenship, religious belief or political philosophy of the authors and ensures a fair double-blind peer review of the selected manuscripts.The selected manuscripts are sent to at least two national/international referees for evaluation and publication decision is given by editor-in-chief  upon modification by the authors in accordance with the referees’ claims.Editor in chief does not allow any conflicts of interest between the authors, editors and reviewers and is responsible for final decision for publication of the manuscripts in the Journal.Reviewers’ judgments must be objective. Reviewers’ comments on the following aspects are expected while conducting the review.-    Does the manuscript contain new and significant information?-    Does the abstract clearly and accurately describe the content of the manuscript?-    Is the problem significant and concisely stated?-    Are the methods described comprehensively?-    Are the interpretations and consclusions justified by the results?-    Is adequate references made to other Works in the field?-    Is the language acceptable?Reviewers must ensure that all the information related to submitted manuscripts is kept as confidential and must report to the editor if they are aware of copyright infringement and plagiarism on the author’s side.A reviewer who feels unqualified to review the topic of a manuscript or knows that its prompt review will be impossible should notify the editor and excuse himself from the review process.The editor informs the reviewers that the manuscripts are confidential information and that this is a privileged interaction. The reviewers and editorial board cannot discuss the manuscripts with other persons. The anonymity of the referees is important.

All correspondence will be sent to the first-named author unless otherwise specified. Manuscpript is to be submitted online via <a href="http://dergipark.gov.tr/meder" target="_blank">http://dergipark.gov.tr/meder</a> and it must be accompanied by a cover letter indicating that the manuscript is intended for publication, specifying the article category (i.e. research article, review etc.) and including information about the manuscript (see the Submission Checklist). Manuscripts should be prepared in Microsoft Word 2003 and upper versions. In addition, <a href="https://cdn.istanbul.edu.tr/file/JTA6CLJ8T5/645D9DF58E5C45A4ACF7B7494378C8B4" target="_blank">Copyright Agreement Form</a><a href="http://cdn.istanbul.edu.tr/FileHandler2.ashx?f=copyrighttransferformen_litera_636846337884291693.doc"> </a>that has to be signed by all authors must be submitted.1. The manuscripts should be in A4 paper standards: having 2.5 cm margins from right, left, bottom and top, Times New Roman font style in 10 font size and line spacing of 1.5 and “justify align” format. For indented paragraph, tab key should be used. One line spacing should be used for the tables and figures, which are included in the text.2. The name(s) of author(s) should be given just beneath the title of the study aligned to the right. Also the affiliation, title, e-mail and phone of the author(s) must be indicated on the bottom of the page as a footnote marked with an asterisk (*).3. Before the introduction part, there should be an abstract of 180-200 words. Underneath the abstract, 3-5 keywords that inform the reader about the content of the study should be specified.4. The manuscripts should contain mainly these components: title, abstract and keywords; extended abstract, sections, footnotes and references.5. Research article sections are ordered as follows: “Introduction”, “Aim and Methodology”, “Findings”, “Discussion and Conclusion”, “Endnotes” and “References”. For review and commentary articles, the article should start with the “Introduction” section where the purpose and the method is mentioned, go on with the other sections; and it should be finished with “Discussion and Conclusion” section followed by “Endnotes”, “References” and “Tables and Figures”.6. Tables, graphs and figures can be given with a number and a defining title if and only if it is necessary to follow the idea of the article. Otherwise features like demographic characteristics can be given within the text.7. A <a href="https://cdn.istanbul.edu.tr/file/JTA6CLJ8T5/F93DE3B7EFD64CF8AE10862302286177" target="_blank">title page</a> including author information must be submitted together with the manuscript. The title page is to include fully descriptive title of the manuscript and, affiliation, title, e-mail address, postal address, phone, fax number of the author(s) and ORCIDs of all authors (see The Submission Checklist).8. Authors are responsible for all statements made in their work published in the Journal; Istanbul University Accounting Institute has no responsibility in this regard.9. The author(s) can be asked to make some changes in their articles due to peer reviews.10. The studies that were sent to the journal will not be returned whether they are published or not.

Author Guidelines

Although references to review articles can be an efficient way to guide readers to a body of literature, review articles do not always reflect original work accurately. Readers should therefore be provided with direct references to original research sources whenever possible. On the other hand, extensive lists of references to original work on a topic can use excessive space on the printed page. Small numbers of references to key original papers often serve as well as more exhaustive lists, particularly since references can now be added to the electronic version of published papers, and since electronic literature searching allows readers to retrieve published literature efficiently. Papers accepted but not yet included in the issue are published online in the Early View section and they should be cited as “advance online publication”. Citing a “personal communication” should be avoided unless it provides essential information not available from a public source, in which case the name of the person and date of communication should be cited in parentheses in the text. For scientific articles, written permission and confirmation of accuracy from the source of a personal communication must be obtained.Reference Style and FormatJournal of Accounting Institute - Muhasebe Enstitüsü Dergisi complies with APA (American Psychological Association) style 6th Edition for referencing and quoting. For more information:- American Psychological Association. (2010). Publication manual of the American PsychologicalAssociation (6th ed.). Washington, DC: APA.- http://www.apastyle.orgAccuracy of citation is the author’s responsibility. All references should be cited in text. Reference list must be in alphabetical order. Type references in the style shown below.Citations in the TextCitations must be indicated with the author surname and publication year within the parenthesis.If more than one citation is made within the same paranthesis, separate them with (;).Samples:More than one citation;(Esin et al., 2002; Karasar, 1995)Citation with one author;(Akyolcu, 2007)Citation with two authors;(Sayıner &amp; Demirci, 2007)Citation with three, four, five authors;First citation in the text: (Ailen, Ciambrune, &amp; Welch, 2000) Subsequent citations in the text: (Ailen et al., 2000)Citations with more than six authors;(Çavdar et al., 2003)Citations in the ReferenceAll the citations done in the text should be listed in the References section in alphabetical order of author surname without numbering. Below given examples should be considered in citing the references.Basic Reference TypesBooka) Turkish BookKarasar, N. (1995). Araştırmalarda rapor hazırlama (8th ed.) [Preparing research reports]. Ankara, Turkey: 3A Eğitim Danışmanlık Ltd.b) Book Translated into TurkishMucchielli, A. (1991). Zihniyetler [Mindsets] (A. Kotil, Trans.). İstanbul, Turkey: İletişim Yayınları.c) Edited BookÖren, T., Üney, T., &amp; Çölkesen, R. (Eds.). (2006). Türkiye bilişim ansiklopedisi [Turkish Encyclopedia of Informatics]. İstanbul, Turkey: Papatya Yayıncılık.d) Turkish Book with Multiple AuthorsTonta, Y., Bitirim, Y., &amp; Sever, H. (2002). Türkçe arama motorlarında performans değerlendirme [Performance evaluation in Turkish search engines]. Ankara, Turkey: Total Bilişim.e) Book in EnglishKamien R., &amp; Kamien A. (2014). Music: An appreciation. New York, NY: McGraw-Hill Education.f) Chapter in an Edited BookBassett, C. (2006). Cultural studies and new media. In G. Hall &amp; C. Birchall (Eds.), New cultural studies: Adventures in theory (pp. 220–237). Edinburgh, UK: Edinburgh University Press.g) Chapter in an Edited Book in TurkishErkmen, T. (2012). Örgüt kültürü: Fonksiyonları, öğeleri, işletme yönetimi ve liderlikteki önemi [Organization culture: Its functions, elements and importance in leadership and business management]. In M. Zencirkıran (Ed.), Örgüt sosyolojisi [Organization sociology] (pp. 233–263). Bursa, Turkey: Dora Basım Yayın.h) Book with the same organization as author and publisherAmerican Psychological Association. (2009). Publication manual of the American psychological association (6th ed.). Washington, DC: Author.Articlea) Turkish ArticleMutlu, B., &amp; Savaşer, S. (2007). Çocuğu ameliyat sonrası yoğun bakımda olan ebeveynlerde stres nedenleri ve azaltma girişimleri [Source and intervention reduction of stress for parents whose children are in intensive care unit after surgery]. Istanbul University Florence Nightingale Journal of Nursing, 15(60), 179–182.b) English Articlede Cillia, R., Reisigl, M., &amp; Wodak, R. (1999). The discursive construction of national identity. Discourse and Society, 10(2), 149–173. http://dx.doi.org/10.1177/0957926599010002002c) Journal Article with DOI and More Than Seven AuthorsLal, H., Cunningham, A. L., Godeaux, O., Chlibek, R., Diez-Domingo, J., Hwang, S.-J. ... Heineman, T. C. (2015). Efficacy of an adjuvanted herpes zoster subunit vaccine in older adults. New England Journal of Medicine, 372, 2087–2096. http://dx.doi.org/10.1056/NEJMoa1501184d) Journal Article from Web, without DOISidani, S. (2003). Enhancing the evaluation of nursing care effectiveness. Canadian Journal of Nursing Research, 35(3), 26–38. Retrieved from http://cjnr.mcgill.cae) Journal Article wih DOITurner, S. J. (2010). Website statistics 2.0: Using Google Analytics to measure library website effectiveness. Technical Services Quarterly, 27, 261–278. http://dx.doi.org/10.1080/07317131003765910f) Advance Online PublicationSmith, J. A. (2010). Citing advance online publication: A review. Journal of Psychology. Advance online publication. http://dx.doi.org/10.1037/a45d7867g) Article in a MagazineHenry, W. A., III. (1990, April 9). Making the grade in today’s schools. Time, 135, 28–31.Doctoral Dissertation, Master’s Thesis, Presentation, Proceedinga) Dissertation/Thesis from a Commercial DatabaseVan Brunt, D. (1997). Networked consumer health information systems (Doctoral dissertation). Available from ProQuest Dissertations and Theses database. (UMI No. 9943436)b) Dissertation/Thesis from an Institutional DatabaseYaylalı-Yıldız, B. (2014). University campuses as places of potential publicness: Exploring the politicals, social and cultural practices in Ege University (Doctoral dissertation). Retrieved from http://library.iyte.edu.tr/tr/hizli-erisim/iyte-tez-portalic) Dissertation/Thesis from WebTonta, Y. A. (1992). An analysis of search failures in online library catalogs (Doctoral dissertation, University of California, Berkeley). Retrieved from http://yunus.hacettepe.edu.tr/~tonta/yayinlar /phd/ickapak.htmld) Dissertation/Thesis abstracted in Dissertations Abstracts InternationalAppelbaum, L. G. (2005). Three studies of human information processing: Texture amplifica&#173;tion, motion representation, and figure-ground segregation. Dissertation Abstracts International: Section B. Sciences and Engineering, 65(10), 5428.e) Symposium ContributionKrinsky-McHale, S. J., Zigman, W. B., &amp; Silverman, W. (2012, August). Are neuropsychiatric symptoms markers of prodromal Alzheimer’s disease in adults with Down syndrome? In W. B. Zigman (Chair), Predictors of mild cognitive impairment, dementia, and mortality in adults with Down syndrome. Symposium conducted at the meeting of the American Psychological Association, Orlando, FL.f) Conference Paper Abstract Retrieved OnlineLiu, S. (2005, May). Defending against business crises with the help of intelligent agent based early warning solutions. Paper presented at the Seventh International Conference on Enterprise Information Systems, Miami, FL. Abstract retrieved from http://www.iceis.org/iceis2005/abstracts_2005.htmg) Conference Paper - In Regularly Published Proceedings and Retrieved OnlineHerculano-Houzel, S., Collins, C. E., Wong, P., Kaas, J. H., &amp; Lent, R. (2008). The basic nonuniformity of the cerebral cortex. Proceedings of the National Academy of Sciences, 105, 12593–12598. http://dx.doi.org/10.1073/pnas.0805417105h) Proceeding in Book FormParsons, O. A., Pryzwansky, W. B., Weinstein, D. J., &amp; Wiens, A. N. (1995). Taxonomy for psychology. In J. N. Reich, H. Sands, &amp; A. N. Wiens (Eds.), Education and training beyond the doctoral degree: Proceedings of the American Psychological Association National Conference on Postdoctoral Education and Training in Psychology (pp. 45–50). Washington, DC: American Psychological Association.i) Paper PresentationNguyen, C. A. (2012, August). Humor and deception in advertising: When laughter may not be the best medicine. Paper presented at the meeting of the American Psychological Association, Orlando, FL.Other Sourcesa) Newspaper ArticleBrowne, R. (2010, March 21). This brainless patient is no dummy. Sydney Morning Herald, 45.b) Newspaper Article with no AuthorNew drug appears to sharply cut risk of death from heart failure. (1993, July 15). The Washington Post, p. A12.c) Web Page/Blog PostBordwell, D. (2013, June 18). David Koepp: Making the world movie-sized [Web log post]. Retrieved from http://www.davidbordwell.net/blog/page/27/d) Online Encyclopedia/DictionaryIgnition. (1989). In Oxford English online dictionary (2nd ed.). Retrieved from http://dictionary.oed. comMarcoux, A. (2008). Business ethics. In E. N. Zalta (Ed.). The Stanford encyclopedia of philosophy. Retrieved from http://plato.stanford.edu/entries/ethics-business/e) PodcastDunning, B. (Producer). (2011, January 12). inFact: Conspiracy theories [Video podcast]. Retrieved from http://itunes.apple.com/f) Single Episode in a Television SeriesEgan, D. (Writer), &amp; Alexander, J. (Director). (2005). Failure to communicate. [Television series episode]. In D. Shore (Executive producer), House; New York, NY: Fox Broadcasting.g) MusicFuchs, G. (2004). Light the menorah. On Eight nights of Hanukkah [CD]. Brick, NJ: Kid Kosher.

<a href="https://cdn.istanbul.edu.tr/file/JTA6CLJ8T5/645D9DF58E5C45A4ACF7B7494378C8B4" target="_blank">Copyright Agreement Form</a><a href="https://cdn.istanbul.edu.tr/file/JTA6CLJ8T5/F93DE3B7EFD64CF8AE10862302286177" target="_blank">Title page</a><a href="https://cdn.istanbul.edu.tr/file/JTA6CLJ8T5/F28E76CD06BB4452BA144BEA7DA202EA" target="_blank">Author Form</a>

Ensure that the following items are present:● Cover letter to the editorThe category of the manuscriptConfirming that “the paper is not under consideration for publication in another journal”.Including disclosure of any commercial or financial involvement.Confirming that last control for fluent English was done.Confirming that journal policies detailed in Information for Authors have been reviewed.Confirming that the references cited in the text and listed in the references section are inline with APA 6.<ul><li><a href="https://cdn.istanbul.edu.tr/file/JTA6CLJ8T5/645D9DF58E5C45A4ACF7B7494378C8B4" target="_blank">Copyright Agreement Form</a></li><li><a href="https://cdn.istanbul.edu.tr/file/JTA6CLJ8T5/9EC6D9709E05466EBC80E889A5A7B6FA" target="_blank">Author Form</a></li><li>Permission of previous published material if used in the present manuscript</li><li><a href="https://cdn.istanbul.edu.tr/file/JTA6CLJ8T5/F93DE3B7EFD64CF8AE10862302286177" target="_blank">Title page</a></li></ul>The category of the manuscriptThe title of the manuscript All authors’ names and affiliations (institution, faculty/department, city, country),e-mail addressesCorresponding author’s email address, full postal address, telephone and fax numberORCIDs of all authors.● Main Manuscript DocumentThe title of the manuscript both in Turkish in EnglishAbstract (180-200 words) Key words: 3-5 words Acknowledgement (if exists)ü Acknowledgements, grant supports, conflicts of interest should be indicated ReferencesAll tables, illustrations (figures) (including title, description, footnotes)

Issue Type	Regular
Editor(s)	Fatma Lerzan Kavut
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Journal of Accounting Institute

ISSUE 69, 2023

Evaluating Production Companies on Borsa Istanbul In Terms of Financial Indicators: Clustering Companies Using K-Means with the Silhouette Index and Elbow Method

Considerations about Adapting to IFRS S1 and S2 With Regard to Sustainability Reporting: Research Regarding Enterprises on the BIST Sustainability 25 Index

The Role of Environmental, Social, and Corporate Governance Activities in Cash Holding Policies: The Case of the BIST Sustainability Index

The Effect of Working Capital Management on Businesses’ Investment Decisions

Managing and Reporting Liquidity Risks: Silicon Valley Bank Case

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