Corporate governance compliance : a study of the publicly traded companies on Istanbul stock exchange

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index.pdf

Date

2011

Author

Erensoy, Müjde

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In the contemporary global world, corporate governance is one of the most frequently referred business term. This study examines the corporate governance compliance reports submitted to Capital Markets Board (CMB) by the publicly traded companies on İstanbul Stock Exchange (ISE). In the analysis, relation among corporate governance compliance and size and ownership structure is investigated. Corporate governance compliance scores of the companies are obtained from Corporate Governance Index constructed based on CMB’s Corporate Governance Principles. The results indicate that size for the entire sample of companies has positive effect on total corporate governance score and all sub index scores; in addition, under different sector categories, size affects total and sub index scores positively except service sector. The public ownership percentage singly measures ownership concentration and it affects corporate governance scores positively except stakeholders and board of directors sub indices scores for all companies. For sector categories, ownership concentration has positive effect on only general corporate governance compliance and shareholders sub index scores for finance companies. Foreign ownership percentage has positive effect on shareholders sub index score derived for all and manufacturing sector companies while its effect is negative for all other scores measured. The findings of this study contribute to the relevant literature and welcome new research initiatives within the same area in Turkey.

Subject Keywords

Business administration., Stock exchange, Stock exchanges., Stocks, Capital market., Finance.

URI

http://etd.lib.metu.edu.tr/upload/12613939/index.pdf
https://hdl.handle.net/11511/20811

Collections

Graduate School of Social Sciences, Thesis

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Citation Formats

M. Erensoy, “Corporate governance compliance : a study of the publicly traded companies on Istanbul stock exchange ,” M.B.A. - Master of Business Administration, Middle East Technical University, 2011.