Vol. 14 No. 1 (2026): Business & Management Studies: An International Journal
Articles

The relationship between asset sizes of TFRS and BOBIFRS firms and sectoral economic growth: A panel data analysis for Türkiye

PDF
  • Sezer Öksüz,
  • Caner Dilber
Sezer Öksüz
Asst. Prof., Cankiri Karatekin University, Cankiri, Turkey
Caner Dilber
Asst. Prof., Cankiri Karatekin University, Cankiri, Turkey

Published 2026-03-25

Keywords

  • TFRS, BOBIFRS, Economic Growth
  • TFRS, BOBİFRS, Ekonomik Büyüme

How to Cite

The relationship between asset sizes of TFRS and BOBIFRS firms and sectoral economic growth: A panel data analysis for Türkiye. (2026). Business & Management Studies: An International Journal, 14(1), 92-99. https://doi.org/10.15295/bmij.v14i1.2685

Copyright (c) 2026 Sezer Öksüz- Caner Dilber

Creative Commons License

This work is licensed under a Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International License.

How to Cite

The relationship between asset sizes of TFRS and BOBIFRS firms and sectoral economic growth: A panel data analysis for Türkiye. (2026). Business & Management Studies: An International Journal, 14(1), 92-99. https://doi.org/10.15295/bmij.v14i1.2685

Abstract

Economic growth theories generally explain long-run growth through capital accumulation, productivity gains, technological progress, and the strength of institutional structures. Within this framework, the neoclassical approach emphasises capital accumulation and efficiency, endogenous growth models emphasise knowledge production and innovation, and institutional economics emphasises governance quality and the effectiveness of incentive mechanisms. These perspectives show that sustained growth arises from the interaction among productive investment, continuous technological and organisational learning, and institutions that shape economic behaviour. In this context, companies are obliged to adopt international financial reporting standards to build more robust institutional frameworks, improving transparency, accountability, and the credibility of financial data. Reducing information asymmetries lowers funding costs, deepens investment channels, and supports firms' long-term, productivity-oriented, and R&D-based strategies. At the macro level, improved trust in financial information facilitates more efficient resource allocation. Thus, compliance with such reporting standards reinforces the key mechanisms emphasised by growth theories, capital accumulation, innovation, and productivity, thereby contributing to sustainable economic expansion. This paper investigates the relationship between the asset sizes of companies subject to TFRS and BOBİFRS and economic growth across six sectors from 2018 to 2023. The results show that firms applying TFRS contribute more strongly to economic growth than BOBİFRS.

PDF

References

  1. Abdullaeva, M., Hasan, A. K., Yodgorova, F., Khajieva, I., & Nusratova, G. (2023). The impact of IFRS adoption on economic growth in transition countries: Evidence from CIS. Financial Internet Quarterly, 19(2), 1-17. https://doi.org/10.2478/fiqf-2023-0008
  2. Acemoglu, D., Johnson, S., & Robinson, J. A. (2005). Institutions as a Fundamental Cause of Long-Run Growth.
  3. Akisik, O. (2013). Accounting regulation, financial development, and economic growth. Emerging Markets Finance and Trade, 49(1), 33–67. https://doi.org/10.2753/REE1540-496X490103
  4. Albiol, J.,& Stel, A.V., (2015). Investigating the impact of small versus large firms on economic performance of countries and industries, Working Papers 2072/246966, Universitat Rovirai Virgili, Department of Economics.
  5. Alp, A., & Üstündağ S., (2009). Financial reporting transformation: the experience of Turkey. Critical Perspectives on Accounting, 20(5), 680-699.
  6. Ball, R. (2006). International Financial Reporting Standards (IFRS): pros and cons for investors. Accounting and Business Research, 36(sup1), 5-27. https://doi.org/10.1080/00014788.2006.9730040
  7. Baltagi, B. H. (2008). Econometric Analysis of Panel Data (4th ed.). John Wiley & Sons.
  8. Baltagi, B. H., & Wu, P. X. (1999). Unequally spaced panel data regressions with AR(1) disturbances. Econometric Theory, 15(6), 814–823. https://doi.org/10.1017/S0266466699156020
  9. Bhargava, A., Franzini, L., & Narendranathan, W. (1982). Serial correlation and the fixed effects model. The Review of Economic Studies, 49(4), 533–549. https://doi.org/10.2307/2297285
  10. Dincer, B. (2012). Uluslararası muhasebe harmonizasyonu ve çevresel faktörler. Öneri Dergisi, 9(33), 135-141. https://izlik.org/JA78YP39XW
  11. Elhamma, A., (2023). Impact of mandatory IFRS adoption on economic growth: the moderating role of Covid-19 crisis in developing countries. Journal of Accounting and Management Information Systems, 3(23), 554-568.
  12. Friedman, M. (1937). The use of ranks to avoid the assumption of normality implicit in the analysis of variance. Journal of the American Statistical Association, 32(200), 675–701. https://doi.org/10.1080/01621459.1937.10503522
  13. Ghouma, G., Becha, H., Kalai, M., & Helali, K. (2024). Impact of cost of capital on European economic growth: The role of IFRS mandatory adoption. Scientific Annals of Economics and Business, 71(2), 193–219. https://doi.org/10.47743/saeb-2024-0012
  14. Greene, W. H. (2000). Econometric analysis (4th ed.). Prentice Hall.
  15. Gujarati, D. N., & Porter, D. C. (2009). Basic econometrics (5th ed.). McGraw-Hill Education.
  16. Kausar A., Park, Y,. (2024). International financial reporting standards and the macroeconomy. The Accounting Review. 99 (1): 315–336. https://doi.org/10.2308/TAR-2020-0459
  17. Kuznets, S. (1966). Modern economic growth: rate, structure, and spread. New Haven: Yale University Press.
  18. Lucas, R. E. (1988). On the mechanics of economic development. Journal of Monetary Economics, 22(1), 3–42.
  19. Moyo, S., & Mpofu, F. (2024). Factors determining use of international financial reporting standards for small to medium size entities (IFRS for smes) in Zimbabwe. Journal of Management: Small and Medium Enterprises (SMEs), 17(3), 901-916. https://doi.org/10.35508/jom.v17i3.18506
  20. Mujalli, A., Gul Wani, M. J., Almgrashi, A., Ahmed, I., & Asiri, N. (2024). The influence of IFRS and institutional quality on economic growth: empirical evidence in the GCC countries using panel ARDL analysis. Cogent Business & Management, 11(1). https://doi.org/10.1080/23311975.2024.2396547
  21. North, D. C. (1990). Institutions, institutional change and economic performance. Cambridge: Cambridge University Press. https://doi.org/10.1017/CBO9780511808678
  22. Oğuzhan, B., Demir, V., Öncel, A.G., (2016). IFRS implementation in Turkey: Benefits and challenges, Journal of Accounting and Management Information Systems Bucharest University of Economic Studies, Bucharest, 15(1), 5-26.
  23. Özcan, A. (2016). Assessing the effects of IFRS adoption on economic growth: A cross country study. Artvin Çoruh Üniversitesi Uluslararası Sosyal Bilimler Dergisi, 2(2), 65-80. https://izlik.org/JA23UJ29MT
  24. Öztürk, E., Gökçen, G., & Güleç, Ö. F. (2018). BOBİ FRS ve TFRS’nin finansal raporlara etkileri açısından karşılaştırılması. Finans Ekonomi ve Sosyal Araştırmalar Dergisi, 3(2), 437-457. https://doi.org/10.29106/fesa.425384
  25. Pesaran, M. H. (2004). General diagnostic tests for cross section dependence in panels. Cambridge Working Papers. Economics, 1240(1), 1.
  26. Romer, P. M. (1986). Increasing returns and long-run growth. Journal of Political Economy, 94(5), 1002–1037.
  27. Romer, P. M. (1990). Endogenous technological change. Journal of Political Economy, 98(5), S71–S102.
  28. Şahin, D., (2015). Türkiye’de doğrudan yabancı sermaye yatırımları ve ekonomik büyüme ilişkisi: ARDL sınır testi yaklaşımı. The Journal of Academic Social Science. 3(19), 159-72. https://doi.org/10.16992/ASOS.904
  29. Şahin, N. K., & Altunöz, U. (2020). Muhasebe biliminin toplumsal gelişime katkısı bağlamında Türkiye’nin kayıt dışılık sorunu ve ekonomik büyüme ile ilişkisi. Iğdır Üniversitesi Sosyal Bilimler Dergisi, (24), 649-676.
  30. Smith, A. (1776). An Inquiry into the nature and causes of the wealth of nations. London: W. Strahan and T. Cadell.
  31. Solow, R. M. (1956). A Contribution to the theory of economic growth. Quarterly Journal of Economics, 70(1), 65–94.
  32. Swan, T. W. (1956). Economic growth and capital accumulation. Economic Record, 32(2), 334–361.
  33. Yerdelen Tatoğlu, F. (2013). Panel veri ekonometrisi: Stata uygulamalı. Beta Yayınları, İstanbul.
  34. Yürekli, E. (2024). IFRS adoption and economic consequences. Pamukkale Üniversitesi İşletme Araştırmaları Dergisi, 11(2), 369-378. https://doi.org/10.47097/piar.1540597