3rd International Symposium on Accounting and Finance ISAF2014-Tokyo, Japan Co-hosted by ...

429 Pages·2014·4.28 MB·English

rd
3 International Symposium on
Accounting and Finance
ISAF2014-Tokyo, Japan
Co-hosted by Tokyo Keizai University and
MUFAD

3rd International Symposium
on Accounting and Finance

ISAF 2014 TOKYO

Full Papers Book

September 10-12, 2014

Tokyo, Japan
3rd International Symposium on Accounting and Finance
ISAF 2014 TOKYO

OPENING SPEECH

Welcome to Tokyo Keizai University!
Dear Colleagues,
It gives us pleasure to tell you that we are very pleased to have you as attendants to the
3rd International Symposium on Accounting and Finance.
Tokyo Keizai University Accounting Research Centre (ARC) was organized in 1984
by accounting staff at Tokyo Keizai University, and has served as a forum for promoting
accounting research and for interuniversity and international exchanges between accounting
scholars with different cultural and methodological background. A characteristic of the
researches at ARC is that the members have benefitted from the standpoints of Japan:
Japanese views and methodologies of accounting on one hand, and the Japanese practice of
accounting especially that of management accounting in Japanese large companies on the
other hand.
The members of ARC hope that the 3rd International Symposium on Accounting and
Finance will be the starting point for further development of accounting research especially
for further fruitful intellectual exchange between non-Japanese and Japanese researchers.
With warmest regards,

Tokyo Keizai University Accounting Research Centre
Makoto TAKEWAKI , Professor, Management accounting
Takemi ONO; Professor , International accounting
YukinariINOUE , Professor , Auditing
Fumiyoshi WATANABE, Professor , Management accounting
Hyonok KIM, Assobate Professor, Financial accounting
Takeo ITABASHI , Lecturer, Tax accounting
Hideharu OKUDA, Researcher , History of corporate accounting
AkiyoshiTANAKA , Professor Emeritus
Tomoko TAKAYAMA , Professor Emeritus
Shigekazu KUKITA, Professor Emeritus
10th September, 2014
Tokyo Keizai University Accounting Research Centre
Yoshiaki JINNAI, Professor & Head of ARC, Methodology of accounting
Tokyo Keizai University
1-7-34, Minami-cho, Kokubunji-shi, Tokyo 185-8502. Japan
Tel [phone] Fax [phone]
3rd International Symposium on Accounting and Finance
ISAF 2014 TOKYO

OPENING SPEECH
Ladies and Gentlemen,
Dear Colleagues,
Welcome to the 3rd International Symposium on Accounting and Finance Cohosted
by Tokyo University of Keizai and the Association of Accounting and Finance Academicians.
I am very happy to be with you in this symposium.
The purpose of education and training is to create the conditions necessary for an
advanced society. Globalization has changed the objectives of higher education. Therefore
revisions are carried out in the training programs of Academic studies that serving the
commercial life are discussed and sharing information on current issues is carried out in
symposiums and congresses.
I wish this Symposium will bring solutions of the problems encountered in the field of
education and integration. In the process of education the duty of AAFA has published
"Journal of Accounting and Finance" every three months since 1999 to perform its duty in
order to add value to education process. By AAFA as well as its various national panels,
international congresses, conferences and symposia were organized.
In recent years, the international activities can be listed as follows.
- The Balkan Countries’ 1st Internatıonal Conference On Accountıng AND Audıtıng
was held 2007 in İstanbul Cohosted by Trakya University And AAFA.
- 12th World Congress Of Accounting Historians was held 2008 in İstanbul Cohosted
by AfyonKocatepe University and Marmara University.
-“2nd Balkans and Middle East Countries Conference on Accounting and Auditing
History” was held 2010 in İstanbul
-“The 1st International Symposium on Accounting and Finance” was held 2012 in
Gaziantep Cohosted by Gaziantep University And AAFA.
-“The 2nd International Symposium on Accounting and Finance” was held May 2014
in Bursa Cohosted by Uludag University And AAFA.
In the same year that allows us to be here today, I present my sincere thanks to "3rd
International Symposium on Accounting and Finance" co-chairman, Mr. Yoshiaki Jinnai and
Tokyo Keizai University.
Dear Colleagues,
Accounting practices must be made with the principle of public disclosure and social
responsibility. Primary responsibility of business and accounting managers is to prepare and
report true and fair information. At this point Auditing is a question of accuracy and
appropriateness. But also the quality and reliability of audit activity should be questioned.
Global economic crisis drew the attention to accounting and audit standards. In the
new and rapidly-globalized economic order in which competitive conditions have become
heavier, accounting, financial reporting and auditing have important functions in the
3rd International Symposium on Accounting and Finance
ISAF 2014 TOKYO

development of both enterprises and economies. Today it became more evident that a sound
and reliable recording and auditing system is one of the basic elements of a strong economy. I
believe that today a good and powerful management approach can easily overcome the crises.
What I mean by a good management is the institutional management in which transparent
financial information is produced and audit mechanism functions well. Capital market
investments which have increased due to globalization and technological development further
emphasized the importance of accounting and financial information. Transparent,
understandable, reliable, comparable and timely organization of financial information is very
important for enlightening the public.
I believe that this conference will make important contributions to the development of
the recording and auditing culture, and to the scientific research. I would like to extend my
thanks to all of those who have contributed to this conference which I believe will be
beneficial and appropriate in terms of both its content and timing. This congress gives us
opportunity to derive benefit from the papers presented by different countries’ academics.
I hope that there will be such events in the future as well. I hope this Symposium
achieves its objectives. I would like to present my personal respects and on behalf of AAFA
to Mr. Yoshiaki JINNAI for allowing the organization of the Symposium, the organizing
committee chairman Mr. Mehmet OZBIRECIKLI and to all the participants.

10th September, 2014
Prof. Ümit GÜCENME GENÇOĞLU
Chair of Association of Accounting and Finance Academicians
Uludag University, Faculty of Economics and Administrative Sciences
3rd International Symposium on Accounting and Finance
ISAF 2014 TOKYO
CONTENTS
CONFERENCE SCIENTIFIC COMMITTEE
CONFERENCE ORGANIZING COMMITTEE
DETAILED CONFERENCE TECHNICAL PROGRAM
PANEL DISCUSSIONS
Shinji SOMEHA
ENGAGE IN THE PUBLIC INTEREST – JICPA’S RECENT ACTIVITIES IN
SAFEGUARDING THE PUBLIC INTEREST 1

Ömer SAYILGANOĞLU
AUDİT STRUCTURE IN TURKEY 11

Muharrem KARATAS
GENERAL İNFORMATİON ON TURMOB, ACCOUNTİNG AND AUDİTİNG
PROFESSİON TODAY 29

PAPERS
Akira NIN
PERMEATION OF MODERN PHILOSOPHICAL THOUGHTS INTO BASIC AUDITING
CONCEPTS…………………………………………………………………………………..41

Nail SANLI &Zafer SAYAR &Muharrem KARATAS
AUDITORS’ PUBLIC OVERSIGHT: GLOBAL PERSPECTIVES AND TURKEY
EXPERIENCE..........................................................................................................................61

Nalan AKDOGAN
THE IMPORTANCE AND ROLE OF SUPREME AUDIT INSTITUTIONS IN
PROMOTING ACCOUNTABILITY AND TRANSPARENCY OF PUBLIC
ADMINISTRATION AND ACCOUNTING – THE IMPLEMENTATION OF TURKISH
SUPREME AUDIT INSTITUTION(TURKISH COURT OF ACCOUNTS)…………….....81

Ahmet Selçuk DİZKIRICI & Ahmet GÖKGÖZ
EVALUATING THE FINANCIAL PERFORMANCES OF THE BANKS LISTED ON
ISTANBUL STOCK EXCHANGE BANKS INDEX BY DATA ENVELOPMENT
ANALYSIS AND MALMQUIST INDEX.............................................................................115

Selcuk KENDIRLI &Hulya CAGIRAN KENDIRLI
IMPORTANCE OF INTELLECTUAL CAPITAL IN ENTERPRISES FOR FINANCIAL
PERFORMANCE AND A RESEARCH FOR CORUM ENTERPRISES…………………131
3rd International Symposium on Accounting and Finance
ISAF 2014 TOKYO
Bayram TOPAL& Hakan TUNAHAN& Sinan ESEN
THE RELATION BETWEEN EXPORT AND PROFITABILITY: AN ANALYSIS ON TOP
1000 EXPORTERS IN TURKEY…………………………………......................................155

Yasushi YOSHİDA
THE CONTAGION EFFECTS IN THE JAPANESE STOCK MARKET OF THE GREAT
EAST JAPAN EARTHQUAKE………………………………………………….................167
Mehmet Fatih BAYRAMOĞLU
RELATIONS BETWEEN BORSA ISTANBUL AND TOKYO STOCK EXCHANGE….177

Deniz SUKRUOGLU
THE MACROECONOMIC DETERMINANTS OF STOCK MARKET DEVELOPMENT IN
EMERGING MARKETS ASIA…………………………………………………………….191

Seval Kardeş SELİMOĞLU
CORPORATE GOVERNANCE IN TURKEY: LEGAL ENVIRONMENT……………....205

Yıldız ÖZERHAN &Burcu NAZLIOĞLU
THE AMENDMENTS PLANNED TO BE MADE IN THE CONCEPTUAL
FRAMEWORK.......................................................................................................................221

Phi Thi DİEM HONG
HOW TO INNOVATE THE CURRENT ACCOUNTING SYSTEM IN VIETNAM?........233

Recep KARABULUT & Ahmet UĞUR
NONLINEARITY BEHAVIOUR OF EXCHANGE RATES IN TURKEY: EFFECTS OF
ECONOMIC AND POLITICAL EVENTS………………………………............................255

Cengiz TORAMAN & Mehmet KÖRPİ
FIRM VALUATION USING MARKET MULTIPLIERS: EVIDENCE FROM APPAREL
AND LEATHER INDUSTRY IN ISTANBUL STOCK EXCHANGE……………………267
Ümit GÜCENME GENÇOĞLU & Alp AYTAÇ
THE PROCESS OF FORMATION OF ACCOUNTING STANDARDS AND THE
PRESENT SITUATION IN TURKEY…………………………….......................................287
Ümmühan ASLAN & Meral Erol FİDAN & Şerife SUBAŞI
OPINIONS OF STUDENTS ON TECHNOLOGY USE IN ACCOUNTING COURSES IN
THE DIGITAL AGE………………………………………………………………………..299

Selahattin KARABINAR &Varol KIŞLALIOGLU
AN EMPRICAL ANALYSIS ON ACCOUNTING CULTURE IN TURKEY………….....319
3rd International Symposium on Accounting and Finance
ISAF 2014 TOKYO
Takeo ITABASHI
THE JAPANESE CONSUMPTION TAX REFORM AND THE ISSUE OF TAX
CREDITS................................................................................................................................333
Cemal ELİTAŞ & Bilge Leyli ELİTAŞ & Mesut DOĞAN
AN ALTERNATIVE VIEW FOR AUDITING: GERMAN 10 POINT PROGRAM……...345
Süleyman YÜKÇÜ & Emre KAPLANOĞLU
THE COMPARATIVE PERFORMANCE ANALYSIS OF BORSA İSTANBUL AND
TOKYO STOCK EXCHANGE WITH EVA AND MVA…………………………….........357
Fujio Yamaguchi
BUSINESS VALUATION AND INTERNALLY GENERATED
GOODWILL……………………………………………………………...…........................377
Zeynep HATUNOĞLU & Sevda DEMİR
HE EFFECT OF COST MANAGEMENT IN BUSINESS DECISION-MAKING PROCESS:
A RESEARCH IN THE TEXTILE SECTOR IN KAHRAMANMARAS…........................397
3rd International Symposium on Accounting and Finance
ISAF 2014 TOKYO

SYMPOSIUM SCIENTIFIC COMMITTEES
Prof. Adriana Tiron Tudor-Babeş-Bolyai University-Romania
Prof. Alexandru Trifu, Petre Andrei University-Romania
Prof. Beyhan Marşap- Gazi University-Turkey
Prof. Can Şımga Mugan- İzmir Ticaret University-Turkey
Prof. Cengiz Toraman- Gaziantep University-Turkey
Prof. Fatih Coşkun Ertaş - Gaziosmanpaşa University-Turkey
Prof. Fatih Coşkun Ertaş- Gaziosmanpaşa University-Turkey
Prof. Ganite Kurt - Gazi University-Turkey
Prof. Giuseppe Galassı - Parma University-Italy
Prof. Hema Rao, Suny Oswego University-USA
Prof. İhsan Ersan-İstanbul University-Turkey
Prof. Juan Lanero-Leon University-Spain
Prof. Lale Karabıyık- Uludag University-Turkey
Prof. Mehmet Bolak - Galatasaray University-Turkey
Prof. Mehmet Özbirecikli- Mustafa Kemal University-Turkey
Prof. Metin Kamil Ercan- Gazi University-Turkey
Prof. Mevlüt Karakaya - Gazi University-Turkey
Prof. Nalan Akdoğan- Başkent University-Turkey
Prof. Nuran Cömert - Marmara University-Turkey
Prof. Ömer Lalik- İstanbul Ticaret University-Turkey
Prof. Özer Ertuna - Okan University-Turkey
Prof. Recep Pekdemir-Istanbul University-Turkey
Prof. Seval K. Selimoğlu- Anadolu University-Turkey
Prof. Shawki Farag, The American University of Cairo, Egypt
Prof. Shayem Sander, Yale University-USA
Prof. Sudi Apak- Beykent University-Turkey
Prof. SüleymanYükçü-Dokuz Eylül University-Turkey
3rd International Symposium on Accounting and Finance
ISAF 2014 TOKYO
Prof. Takemi Ono - Tokyo Keizai University- Japan
Prof. Turhan Korkmaz- Mersin University-Turkey
Prof. Ümit Gücenme Gençoğlu- Uludag University-Turkey
Prof. Yoshiaki Jinnai - Tokyo Keizai University-Japan
Prof. Yukinari Inoue - Keizai University- Japan
Assoc. Prof. Aylin Poroy Arsoy–Uludag University-Turkey
Assoc. Prof. Batuhan Güvemli- Trakya University- Turkey
Assoc. Prof. Dina Lvova-St. Petersburg University-Russia
Assoc. Prof. Recep Karabulut- İnönü University-Turkey
Assoc. Prof. Rezarta Shkurti Perri-Tirana University-Albenia