DEVLET ŞIRKETLERINDE DENETIM KALITESI VE FINANSAL PERFORMANS ÜZERINE ZAMAN TRENDINDEN ARINDIRILMIŞ BIR ANALIZ: AZERBAYCAN DEVLET ŞIRKETLERI ÖRNEĞI

Résumé fourni par la source

This study examines the impact of changes in audit transparency quality on financial performance (ROA) within three strategic State-Owned Enterprises (SOEs) of Azerbaijan: Azerbaijan Railways (ADY), Azerbaijan Caspian Shipping (ASCO), and Azerbaijan Airlines (AZAL), covering the 2019-2023 period. The research employed a mixed-methods approach, integrating qualitative and quantitative analysis based on a literature review, corporate sustainability and financial reports, international auditing standards (IFRS, ISA), and guidelines from the OECD and the World Bank. While these companies were subject to IFRS and independent audit processes prior to the period studied, structural improvements in reporting discipline, timeliness, and content depth were observed following the establishment of the Azerbaijan Investment Holding (AIH) post-2020. To quantify this qualitative improvement, the researcher developed a structured Weighted Audit Transparency Index (ATI). The analysis utilizes Partial Correlation and Time-Controlled Panel Regression methods to control for timeseries trends (post-COVID-19 recovery) and macroeconomic shocks. The findings indicate that the increase in reporting quality exhibits a positive (β = 1.05) and statistically significant (𝑝 < 0.05 relationship with financial efficiency (ROA), independent of the general market recovery. This study advocates that, in line with the "Azerbaijan 2030" national priorities strategy, audit transparency should be measured not only in financial terms but also across Environmental, Social, and Governance (ESG) dimensions.

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