Corporate governance in Turkey: an overview and some policy recommendations

Ararat, Melsa; Uğur, Mehmet

doi:10.1108/14720700310459863

Cited by 89 publications

(69 citation statements)

References 14 publications

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“…It is worth mentioning that the structure of this paper is similar to two other papers that have been published on CG by Ararat and Ugur (2003) and Spanos (2005). Especially, with Spanos' paper, there is a common intersection in the examined issue (that is, it follows the same structure).…”

Section: Introductionsupporting

confidence: 52%

Recent corporate governance developments in Greece

Nerantzidis

Filos

2014

Corporate Governance

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Purpose – This study aims to investigate the recent corporate governance (CG) developments in Greece. The recent economic crisis of Greece has caused very high mobility, both at a state level by imposing a new Greek regulation in capital market and at a level of associations in Greece by recommending new voluntary codes on CG. Both the new economic conditions in the world economy after the global financial crisis of 2007-2010 and the 2009 economic crisis in Greece provide a valuable opportunity to study the CG and regulatory aspects of CG in Greece. Design/methodology/approach – This study has three objectives, namely, to present the reasons which lead the business community in Greece to reconsider existing CG practices and outline the main aspects; to locate the current CG developments and trends in Greece in the last decade (2002-2011), especially in the light of the recent debate between various voluntary codes that have lately been proposed; and, finally, to highlight the efforts that have been made so far by companies to comply with the expanding body of CG best practices and Greek legislation. Findings – The main finding is that the development of regulatory reforms and practices on CG is a process based on the European Union directives. Practical implications – The improvement of legal, institutional and regulatory framework of CG in Greece can attract new investors. Originality/value – This paper re-examines the value of CG in Greece under the new economic conditions.

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Section: Introductionsupporting

confidence: 52%

Recent corporate governance developments in Greece

Nerantzidis

Filos

2014

Corporate Governance

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“…It can also comprise a response to more informal pressures from stakeholders. Foundations of sound corporate governance are believed to be necessary in order for CSR to flourish (Ararat and Ugur 2003).…”

Section: Corporate Governancementioning

confidence: 99%

“…Corporate governance reform thus focuses on this issue of board structure and the protection of minority shareholders' rights, as well as on the importance of transparency and disclosure. Additionally, calls for governance reform recognize the importance of the enforcement of law and regulations and the need to address weaknesses in the legal/regulatory framework (Ararat and Ugur 2003).…”

Section: Corporate Governancementioning

confidence: 99%

Corporate Social Responsibility and Different Stages of Economic Development: Singapore, Turkey, and Ethiopia

Robertson

2009

J Bus Ethics

115

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The U.S. and U.K. models of corporate social responsibility (CSR) are relatively well defined. As the phenomenon of CSR establishes itself more globally, the question arises as to the nature of CSR in other countries. Is a universal model of CSR applicable across countries or is CSR specific to country context? This article uses integrative social contracts theory (ISCT) and four institutional factors -firm ownership structure, corporate governance, openness of the economy to international investment, and the role of civil society -to examine CSR in Singapore, Turkey, and Ethiopia. Field research results illustrate variation across the institutional factors and suggest that CSR is responsive to country differences. Research findings have implications for consideration of the tradeoff between global and local CSR priorities and practices. 2) corporate governance, 3) openness of the economy to international investment, and 4) the role of civil society. These institutional factors were chosen based on potential to affect the nature of CSR, with the expectation that country differences in these factors will lead to different characteristics of CSR.The following sections apply this conceptual framework to Singapore, Turkey, andEthiopia, ask what lessons can be learned from the CSR experiences of firms in these three countries, and conclude with implications for future research.4 Singapore, Turkey, and EthiopiaMethodology. Over the course of about a year I had the opportunity to spend approximately one week each in Singapore, Turkey, and Ethiopia (in that order) holding meetings and conducting interviews with academics, businesspeople, government leaders and members of NGOs. In both Turkey and Singapore I attended CSR conferences and spoke to fellow participants. My sample selection used a "snowball" technique to identify interviewees with one respondent leading me to another. My discussions followed an open-ended interview format with the basic structure of the interview contained in the Appendix. I took notes on these interviews and in some instances emailed respondents to collect more data. Where companies were named as exemplars of CSR, I gathered information on the companies' CSR initiatives from their websites.*************** Table 1 about here *************** These three countries were chosen because they presented opportunities for field research and because they are excellent examples of a well developed economy (Singapore), an economy that is rapidly growing (Turkey) and an underdeveloped economy (Ethiopia). Choosing such different countries allows for exploration of country differences in institutional factors and any resulting differences in CSR.Baseline Data. Turkey and Ethiopia are much larger countries than Singapore both in land mass and population (See Table 2). However, gross national income per person looks very different. Overall, the economic figures suggest that Singapore is vastly wealthier per capita and more developed than Turkey, and Turkey, in turn, is substantially more developed t...

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“…It got even worse when the impact of the socioeconomic background of the country was combined with the catastrophic political and economic atmosphere in the 1980s, right after the military coup on 12 September 1980. Business organizations in Turkey ignored their ethical and even legal responsibilities back at those times. Ararat and Ugur (2003) indicate that this continuous state intervention in Turkey results in favouritism, corruption, opacity, etc. with fostering a political culture in which the state acts as distributor of public goods rather than its provider and increasing the private risk that makes business actors more dependent to the state for its compensation.…”

Section: Evolution Of Csr Conception In Turkish Business Contextmentioning

confidence: 98%

An Analysis of Corporate Social Responsibility in the Turkish Business Context

Türker

2015

CSR, Sustainability, Ethics &Amp; Governance

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Corporate governance in Turkey: an overview and some policy recommendations

Cited by 89 publications

References 14 publications

Recent corporate governance developments in Greece

Recent corporate governance developments in Greece

Corporate Social Responsibility and Different Stages of Economic Development: Singapore, Turkey, and Ethiopia

An Analysis of Corporate Social Responsibility in the Turkish Business Context

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