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This report evaluates the extent to which the OECD Principles of Corporate Governance have been implemented in Turkey, looking at both the legal and regulatory framework as well as company practices.
Book Synopsis Corporate Governance in Turkey A Pilot Study by : OECD
Download or read book Corporate Governance in Turkey A Pilot Study written by OECD and published by OECD Publishing. This book was released on 2006-10-27 with total page 135 pages. Available in PDF, EPUB and Kindle. Book excerpt: This report evaluates the extent to which the OECD Principles of Corporate Governance have been implemented in Turkey, looking at both the legal and regulatory framework as well as company practices.
A Premier on Corporate Governance: Turkey takes an in-depth and comprehensive assessment of corporate governance in Turkey at a cross section in time when the country is going through major multidimensional transformations. Structural characteristics of its economy and the historical antecedents of corporate governance are provided to the readers as a background in the first part of the book. External and internal mechanisms of corporate governance are built on this background. Legal system of the country, its company laws, regulatory authorities and the state of the market for corporate control as well as the socio-cultural norms, ways of doing business, and the Turkish code of good governance are examined as the external mechanisms shaping the corporate governance practices of companies in the context. Internal control mechanisms analyzed in this book include the characteristics of the board of directors, ownership structure, and management teams of Turkish companies. In conclusion, the authors discuss current and future corporate governance challenges in the Turkish business context.
Book Synopsis A Primer on Corporate Governance by : Sibel Yamak
Download or read book A Primer on Corporate Governance written by Sibel Yamak and published by Business Expert Press. This book was released on 2017-03-22 with total page 162 pages. Available in PDF, EPUB and Kindle. Book excerpt: A Premier on Corporate Governance: Turkey takes an in-depth and comprehensive assessment of corporate governance in Turkey at a cross section in time when the country is going through major multidimensional transformations. Structural characteristics of its economy and the historical antecedents of corporate governance are provided to the readers as a background in the first part of the book. External and internal mechanisms of corporate governance are built on this background. Legal system of the country, its company laws, regulatory authorities and the state of the market for corporate control as well as the socio-cultural norms, ways of doing business, and the Turkish code of good governance are examined as the external mechanisms shaping the corporate governance practices of companies in the context. Internal control mechanisms analyzed in this book include the characteristics of the board of directors, ownership structure, and management teams of Turkish companies. In conclusion, the authors discuss current and future corporate governance challenges in the Turkish business context.
Business groups play a large, sometimes dominant economic role in many countries. A number of studies find an association between firm-level corporate governance and market value, but none study the role of business group identity in firm level corporate governance or the value of “group governance.” We begin to fill that gap through a case study of Turkey. We study the corporate governance practices of Turkish business groups and listed firms from 2006 to 2012, relying on hand-collected data covering the vast majority of listed firms. We build a Turkey Corporate Governance Index (TCGI), composed of subindices for board structure, board procedure, disclosure, ownership, and shareholder rights. This index predicts higher market value (proxied by Tobin's q) at both the firm level (with firm fixed effects) and group level (with group fixed effects); the principal driver of this result is disclosure subindex. We find large differences in the governance choices of different business groups. Some groups invest in governance; others do not; and investors reward those that do with higher market values for group firms.
Book Synopsis Corporate Governance, Business Groups, and Market Value by : Melsa Ararat
Download or read book Corporate Governance, Business Groups, and Market Value written by Melsa Ararat and published by . This book was released on 2014 with total page 49 pages. Available in PDF, EPUB and Kindle. Book excerpt: Business groups play a large, sometimes dominant economic role in many countries. A number of studies find an association between firm-level corporate governance and market value, but none study the role of business group identity in firm level corporate governance or the value of “group governance.” We begin to fill that gap through a case study of Turkey. We study the corporate governance practices of Turkish business groups and listed firms from 2006 to 2012, relying on hand-collected data covering the vast majority of listed firms. We build a Turkey Corporate Governance Index (TCGI), composed of subindices for board structure, board procedure, disclosure, ownership, and shareholder rights. This index predicts higher market value (proxied by Tobin's q) at both the firm level (with firm fixed effects) and group level (with group fixed effects); the principal driver of this result is disclosure subindex. We find large differences in the governance choices of different business groups. Some groups invest in governance; others do not; and investors reward those that do with higher market values for group firms.
The main objective of this study is to analyze the development of corporate governance in Turkey, particularly after 2006 comparing it with Canada, a country reputed to have one of the best corporate governance systems in the world. Through the process of comparison, the overall goal of the study is to identify current strengths and weaknesses of the Turkish system and to determine whether Turkey is moving forward faster in terms of corporate governance practices than Canada. The study shows that Turkey has improved its corporate governance continuously with extremely quick development of many aspects of modern corporate governance. Development of effective and efficient boards, on the other hand, represents a variable that slows down this progress. Also the claim that “developing countries are closing the gap they have in terms of corporate governance with developed countries” finds support. Another significant finding is that although there was no change in Turkey's positive trend in corporate governance development during the 2008-2009 financial crisis, Canada's corporate governance practice and reputation were negatively affected in a notable way during this period. It is concluded that researchers and practitioners should give special attention to board development and its functioning in order to develop corporate governance in Turkey, and also in Canada, because this factor is found to be weak compared to other factors in Turkey and Canada.
Book Synopsis Corporate Governance by : Ihsan Aytekin
Download or read book Corporate Governance written by Ihsan Aytekin and published by . This book was released on 2013 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: The main objective of this study is to analyze the development of corporate governance in Turkey, particularly after 2006 comparing it with Canada, a country reputed to have one of the best corporate governance systems in the world. Through the process of comparison, the overall goal of the study is to identify current strengths and weaknesses of the Turkish system and to determine whether Turkey is moving forward faster in terms of corporate governance practices than Canada. The study shows that Turkey has improved its corporate governance continuously with extremely quick development of many aspects of modern corporate governance. Development of effective and efficient boards, on the other hand, represents a variable that slows down this progress. Also the claim that “developing countries are closing the gap they have in terms of corporate governance with developed countries” finds support. Another significant finding is that although there was no change in Turkey's positive trend in corporate governance development during the 2008-2009 financial crisis, Canada's corporate governance practice and reputation were negatively affected in a notable way during this period. It is concluded that researchers and practitioners should give special attention to board development and its functioning in order to develop corporate governance in Turkey, and also in Canada, because this factor is found to be weak compared to other factors in Turkey and Canada.
Book Synopsis Culture and Corporate Governance by : Güler Aras
Download or read book Culture and Corporate Governance written by Güler Aras and published by SRRNet. This book was released on 2008 with total page 249 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Cover -- Half Title -- Title Page -- Copyright Page -- Contents -- List of figures -- List of tables -- Foreword to the first edition -- Preface to the second edition -- Acknowledgements -- 1 Cycles of governance -- 2 Boards and directors: the political mechanisms of corporate governance -- 3 Finance, law and markets: the institutional elements of corporate governance -- 4 Anglo-American corporate governance -- 5 European corporate governance -- 6 Asia Pacific corporate governance -- 7 Corporate governance in the emerging economies -- 8 The globalization of corporate governance -- 9 Corporate social responsibility -- 10 Corporate sustainability -- CASE STUDIES: CORPORATE GOVERNANCE IN CRISIS -- Enron-era case studies (2001-2004) -- 1 Enron -- 2 WorldCom -- 3 HIH Insurance Group -- 4 Parmalat -- Global financial crisis case studies (2007-2009) -- 5 Lehman Brothers -- 6 Royal Bank of Scotland -- 7 UBS -- 8 Iceland -- Asia Pacific case studies (2009-2014) -- 9 Satyam -- 10 Olympus -- Corporate responsibility and sustainability case studies (2001-2016) -- 11 James Hardie -- 12 BP -- 13 Volkswagen -- Bibliography -- Index
Book Synopsis International Corporate Governance by : Thomas Clarke
Download or read book International Corporate Governance written by Thomas Clarke and published by Taylor & Francis. This book was released on 2017-05-03 with total page 733 pages. Available in PDF, EPUB and Kindle. Book excerpt: Cover -- Half Title -- Title Page -- Copyright Page -- Contents -- List of figures -- List of tables -- Foreword to the first edition -- Preface to the second edition -- Acknowledgements -- 1 Cycles of governance -- 2 Boards and directors: the political mechanisms of corporate governance -- 3 Finance, law and markets: the institutional elements of corporate governance -- 4 Anglo-American corporate governance -- 5 European corporate governance -- 6 Asia Pacific corporate governance -- 7 Corporate governance in the emerging economies -- 8 The globalization of corporate governance -- 9 Corporate social responsibility -- 10 Corporate sustainability -- CASE STUDIES: CORPORATE GOVERNANCE IN CRISIS -- Enron-era case studies (2001-2004) -- 1 Enron -- 2 WorldCom -- 3 HIH Insurance Group -- 4 Parmalat -- Global financial crisis case studies (2007-2009) -- 5 Lehman Brothers -- 6 Royal Bank of Scotland -- 7 UBS -- 8 Iceland -- Asia Pacific case studies (2009-2014) -- 9 Satyam -- 10 Olympus -- Corporate responsibility and sustainability case studies (2001-2016) -- 11 James Hardie -- 12 BP -- 13 Volkswagen -- Bibliography -- Index
This fifth peer review of the OECD Principles of Corporate Governance analyses the supervision and enforcement of rules and practices relating to related party transactions (RPTs), takeover bids and shareholder meetings.
Book Synopsis Corporate Governance Supervision and Enforcement in Corporate Governance by : OECD
Download or read book Corporate Governance Supervision and Enforcement in Corporate Governance written by OECD and published by OECD Publishing. This book was released on 2013-11-04 with total page 119 pages. Available in PDF, EPUB and Kindle. Book excerpt: This fifth peer review of the OECD Principles of Corporate Governance analyses the supervision and enforcement of rules and practices relating to related party transactions (RPTs), takeover bids and shareholder meetings.
Good governance is good PR, it is important in every sphere of society, whether it be the corporate environment, the political, or wider society. When resources are too limited to meet the minimum expectations of the people, it is a good governance level that can help to promote the welfare of society. Enlightened companies recognise that there is a clear link between governance and corporate social responsibility and make efforts to link the two. Unfortunately this is too often no more than making a claim that good governance is a part of their CSR policy as well as a part of their relationship with shareholders. Corporate Governance and CSR are significant issues in all parts of the world, huge amounts of time and energy are devoted to its global interpretation. Most analysis however is too simplistic to be helpful as it normally resolves itself into simple dualities: rules based v principles based or Anglo-Saxon v Continental. The editors of this book argue that this is not helpful - that the reality is far more complex. They show that Corporate Governance and CSR cannot be understood without taking geographical, cultural and historical factors into account. It is necessary, they say to understand the concerns of people in different parts of the world. Therefore, by using a wealth of case studies, theoretical models, and drawing on the knowledge and perspective of experts from around the world, the editors have produced this valuable book. Global Perspectives on Corporate Governance and CSR discusses issues such as regional and cultural similarities and differences, the contexts of differing legal frameworks and governance codes, differences between large companies and SMEs, governance in new environments (companies and economies) versus stable environments, and the changing environment affecting corporate social responsibility around the world. The editors then synthesise this in a way that will be helpful to business people as well as to academics.
Book Synopsis Global Perspectives on Corporate Governance and CSR by : Güler Aras
Download or read book Global Perspectives on Corporate Governance and CSR written by Güler Aras and published by CRC Press. This book was released on 2016-04-22 with total page 364 pages. Available in PDF, EPUB and Kindle. Book excerpt: Good governance is good PR, it is important in every sphere of society, whether it be the corporate environment, the political, or wider society. When resources are too limited to meet the minimum expectations of the people, it is a good governance level that can help to promote the welfare of society. Enlightened companies recognise that there is a clear link between governance and corporate social responsibility and make efforts to link the two. Unfortunately this is too often no more than making a claim that good governance is a part of their CSR policy as well as a part of their relationship with shareholders. Corporate Governance and CSR are significant issues in all parts of the world, huge amounts of time and energy are devoted to its global interpretation. Most analysis however is too simplistic to be helpful as it normally resolves itself into simple dualities: rules based v principles based or Anglo-Saxon v Continental. The editors of this book argue that this is not helpful - that the reality is far more complex. They show that Corporate Governance and CSR cannot be understood without taking geographical, cultural and historical factors into account. It is necessary, they say to understand the concerns of people in different parts of the world. Therefore, by using a wealth of case studies, theoretical models, and drawing on the knowledge and perspective of experts from around the world, the editors have produced this valuable book. Global Perspectives on Corporate Governance and CSR discusses issues such as regional and cultural similarities and differences, the contexts of differing legal frameworks and governance codes, differences between large companies and SMEs, governance in new environments (companies and economies) versus stable environments, and the changing environment affecting corporate social responsibility around the world. The editors then synthesise this in a way that will be helpful to business people as well as to academics.
While emerging market economies do not have a mature market structure yet, there is a need for research on corporate governance practices in these economies from different perspectives, including corporate social responsibility. Corporate Governance and Corporate Social Responsibility: Emerging Markets Focus fills the gap with a collection of high-quality research and policy-based papers addressing these issues, using various market cases as illustrations. Unlike previous books that often focused on one or several emerging markets, this book covers a much broader set of countries and tackles ethical, legal and societal aspects of corporate governance, beyond financial issues. It also discusses how companies work towards best corporate governance practices, particularly, in the aftermath of recent financial and economic crises. Readers will benefit from the wide range of theoretical, empirical, and case analyses, selected with care to reflect cutting-edge corporate governance and corporate social responsibility issues in countries with emerging markets. Contents: Corporate Governance: Legal Framework and Codes of Best Practices: Corporate Governance Bundles for Emerging Markets (Rahul Bedi and Darshan Desai); OC GoodOCO Corporate Governance in Transformation Countries OCo A Comparison of Experts' Perceptions in East Germany, Estonia and Hungary (Thomas Steger, Ruth Alas and Klliki Tafel-Viia); Corporate Governance, Policies and Public Listing: The Case of Chinese State-owned Enterprises (Zigan Wang); Corporate Governance in Turkey: The Case of Borsa Istanbul 50 Companies (Esra Nemli Caliskan and Basak Turan Icke); Barriers to Effective Corporate Governance Reforms: Corruption and the Peculiar Case of Nigeria (Ngozi Okoye); The Brazilian Fiscal Council OCo Protecting Minority Shareholders in a Weak Legal System (Jairo Laser Procianoy and Roberto Frota Decourt); Using Market Incentives to Move Beyond Law and Regulation in Emerging Markets OCo The Case for Corporate Governance Stock Exchange Indices (Andreas Grimminger); Corporate Governance: Some Country Experiences: The Audit Committee in the EU Emerging Countries (Daniela M Salvioni, Francesca Gennari, Luisa Bosetti and Alex Almici); Great Expectations from Pension Fund Activism: Insight from Poland (Agnieszka Seomka-GoeObiowska); Ownership Structure and Directors' Compensation Disclosure in Malaysia (Elinda Binti Esa and Abdul Rahman Zahari); Corporate Governance, Performance and Liquidity Risk of West African Economic and Monetary Union (WAEMU) Banks (Alassane Ouattara, Luc Paugam and Olivier Ramond); Board Composition and Company Performance: A Study of Sub-Saharan African Countries (Gibson Munisi); Emerging Markets Banks Ownership and Performance: Evidence from China (Xiaoxi Zhang and Kevin Daly); Corporate Governance in Romania: Theories and Practices (Gheorghe N Popescu, Veronica Adriana Popescu and Cristina Raluca Popescu); Corporate Social Responsibility: Corporate Governance and Corporate Social Responsibility in Financial Institutions: Evidence from Islamic Banks (Hisham Farag); Is Corporate Governance Related to Corporate Social Responsibility? The Case of South Africa (Idoya Ferrero-Ferrero, Mar a ungeles Fernindez-Izquierdo, Mar a Jess Muoz-Torres, Juana Mar a Rivera-Lirio, Ral Len-Soriano and Elena Escrig-Olmedo); Achieving Corporate Governance and Corporate Social Responsibility in an Emerging Market through Gender Diversity on Boards in India (Sharon Ayson); Executive Compensation in Emerging Markets: Theoretical Developments and Empirical Evidence (Yongli Luo); Placing Stakeholder Theory within the Debate on Corporate Social Responsibility (Tarek Miloud); Corporate Governance and Corporate Social Responsibility Reporting: Empirical Evidence from Bangladesh (Pallab Kumar Biswas). Readership: Policymakers, professionals, academics, and graduate students in law, economics, management and finance, organizations promoting best governance practices in emerging countries, investors, as well as those interested in corporate governance, corporate finance, and business and management. Key Features: Addresses current issues and cutting-edge trends in corporate governance and corporate social responsibility within economies with emerging markets; Sheds light on how companies adopt and move towards best corporate governance practices, especially in the aftermath of recent crises; Illustrates corporate governance theories with real business cases and assesses the effects of various governance practices on corporate behavior"
Book Synopsis Corporate Governance and Corporate Social Responsibility by : Sabri Boubaker
Download or read book Corporate Governance and Corporate Social Responsibility written by Sabri Boubaker and published by World Scientific. This book was released on 2014-09-26 with total page 613 pages. Available in PDF, EPUB and Kindle. Book excerpt: While emerging market economies do not have a mature market structure yet, there is a need for research on corporate governance practices in these economies from different perspectives, including corporate social responsibility. Corporate Governance and Corporate Social Responsibility: Emerging Markets Focus fills the gap with a collection of high-quality research and policy-based papers addressing these issues, using various market cases as illustrations. Unlike previous books that often focused on one or several emerging markets, this book covers a much broader set of countries and tackles ethical, legal and societal aspects of corporate governance, beyond financial issues. It also discusses how companies work towards best corporate governance practices, particularly, in the aftermath of recent financial and economic crises. Readers will benefit from the wide range of theoretical, empirical, and case analyses, selected with care to reflect cutting-edge corporate governance and corporate social responsibility issues in countries with emerging markets. Contents: Corporate Governance: Legal Framework and Codes of Best Practices: Corporate Governance Bundles for Emerging Markets (Rahul Bedi and Darshan Desai); OC GoodOCO Corporate Governance in Transformation Countries OCo A Comparison of Experts' Perceptions in East Germany, Estonia and Hungary (Thomas Steger, Ruth Alas and Klliki Tafel-Viia); Corporate Governance, Policies and Public Listing: The Case of Chinese State-owned Enterprises (Zigan Wang); Corporate Governance in Turkey: The Case of Borsa Istanbul 50 Companies (Esra Nemli Caliskan and Basak Turan Icke); Barriers to Effective Corporate Governance Reforms: Corruption and the Peculiar Case of Nigeria (Ngozi Okoye); The Brazilian Fiscal Council OCo Protecting Minority Shareholders in a Weak Legal System (Jairo Laser Procianoy and Roberto Frota Decourt); Using Market Incentives to Move Beyond Law and Regulation in Emerging Markets OCo The Case for Corporate Governance Stock Exchange Indices (Andreas Grimminger); Corporate Governance: Some Country Experiences: The Audit Committee in the EU Emerging Countries (Daniela M Salvioni, Francesca Gennari, Luisa Bosetti and Alex Almici); Great Expectations from Pension Fund Activism: Insight from Poland (Agnieszka Seomka-GoeObiowska); Ownership Structure and Directors' Compensation Disclosure in Malaysia (Elinda Binti Esa and Abdul Rahman Zahari); Corporate Governance, Performance and Liquidity Risk of West African Economic and Monetary Union (WAEMU) Banks (Alassane Ouattara, Luc Paugam and Olivier Ramond); Board Composition and Company Performance: A Study of Sub-Saharan African Countries (Gibson Munisi); Emerging Markets Banks Ownership and Performance: Evidence from China (Xiaoxi Zhang and Kevin Daly); Corporate Governance in Romania: Theories and Practices (Gheorghe N Popescu, Veronica Adriana Popescu and Cristina Raluca Popescu); Corporate Social Responsibility: Corporate Governance and Corporate Social Responsibility in Financial Institutions: Evidence from Islamic Banks (Hisham Farag); Is Corporate Governance Related to Corporate Social Responsibility? The Case of South Africa (Idoya Ferrero-Ferrero, Mar a ungeles Fernindez-Izquierdo, Mar a Jess Muoz-Torres, Juana Mar a Rivera-Lirio, Ral Len-Soriano and Elena Escrig-Olmedo); Achieving Corporate Governance and Corporate Social Responsibility in an Emerging Market through Gender Diversity on Boards in India (Sharon Ayson); Executive Compensation in Emerging Markets: Theoretical Developments and Empirical Evidence (Yongli Luo); Placing Stakeholder Theory within the Debate on Corporate Social Responsibility (Tarek Miloud); Corporate Governance and Corporate Social Responsibility Reporting: Empirical Evidence from Bangladesh (Pallab Kumar Biswas). Readership: Policymakers, professionals, academics, and graduate students in law, economics, management and finance, organizations promoting best governance practices in emerging countries, investors, as well as those interested in corporate governance, corporate finance, and business and management. Key Features: Addresses current issues and cutting-edge trends in corporate governance and corporate social responsibility within economies with emerging markets; Sheds light on how companies adopt and move towards best corporate governance practices, especially in the aftermath of recent crises; Illustrates corporate governance theories with real business cases and assesses the effects of various governance practices on corporate behavior"
This edition of OECD's periodic survey of the Turkish economy presents an overview of recent economic performance and its outlook and examines how to enhance competitiveness and growth.
Book Synopsis OECD Economic Surveys: Turkey 2006 by : OECD
Download or read book OECD Economic Surveys: Turkey 2006 written by OECD and published by OECD Publishing. This book was released on 2006-12-13 with total page 198 pages. Available in PDF, EPUB and Kindle. Book excerpt: This edition of OECD's periodic survey of the Turkish economy presents an overview of recent economic performance and its outlook and examines how to enhance competitiveness and growth.
