Kargin (2013) defines value relevance as "the ability of the information disclosed by the financial statements to capture and summarize the value of the enterprise". Most often, the information disclosed is the book value, or the value of the company after subtracting the total cost of liabilities from the value of assets. He goes on to explain how to measure value relevance, “through the statistical relationships between the information presented by financial statements and stock market values ​​or returns.” CITATION Kar13 l 1033 (Kargin, 2013). In his study, Kargin (2013) analyzes the effects of IFRS on value relevance for Turkish companies from 1998 to 2011. He determines that IFRS has increased in value relevance by comparing the value relevance before (1998 to 2005 ) and after (2005 to 2011) the implementation of IFRS in Turkey, and concludes that the greatest improvement was observed in the overall book values ​​CITATION Kar13 l 1033 (Kargin, 2013). Additionally, in May 2011, the International Accounting Standards Board issued IFRS 13 Fair Value Measurement, which provides a unique framework for determining the fair value upon sale of an asset, rather than estimating value based on historical cost, which was the standard method of determining value before the implementation of IFRS 13. IFRS defines fair value as “the price that would be received for the sale of an asset or that would be paid for the transfer of a liability in a