To read the full version of this content please select one of the options below:

The Importance of Thorough Financial Reporting During COVID-19 Pandemic: Empirical Evidence From Borsa Istanbul

Contemporary Issues in Social Science

ISBN: 978-1-80043-931-3, eISBN: 978-1-80043-930-6

ISSN: 1569-3759

Publication date: 25 May 2021

Abstract

On March 11, 2020, the World Health Organization declared the COVID-19 outbreak a global pandemic. The policy responses to this outbreak have caused many impacts on our daily life and economic activities around the world. Also, this outbreak has affected financial reporting practices of the firms. Thorough financial reporting in such uncertain times plays an essential role in providing qualitative financial information. It is very important for a firm to increase transparency and report on the impacts of possible risks in times of uncertainty. Furthermore, stock markets may react to COVID-19 as they have already responded to major events like disasters, news, environmental and political events. This study investigates whether and how firms’ providing information about COVID-19 pandemic in their financial reports plays a role in explaining the stock market reactions. For this, annual reports of companies included in BIST-100 index in Turkey is used to analyze the capacity for detecting risks early and determine whether there is an association between early reporting about COVID-19 and the stock risk.

Keywords

Citation

Oğuz, M. (2021), "The Importance of Thorough Financial Reporting During COVID-19 Pandemic: Empirical Evidence From Borsa Istanbul", Grima, S., Özen, E. and Boz, H. (Ed.) Contemporary Issues in Social Science (Contemporary Studies in Economic and Financial Analysis, Vol. 106), Emerald Publishing Limited, Bingley, pp. 239-250. https://doi.org/10.1108/S1569-375920210000106015

Publisher

:

Emerald Publishing Limited

Copyright © 2021 Emerald Publishing Limited