Effects Of Corporate Governance Level On The Financial Performance Of Companies: A Research On BIST Corporate Governance Index (XKURY)

Kara, Esen; Erdur, Duygu Acar; Karabiyik, Lale

doi:10.21121/eab.2015217991

Cited by 20 publications

(14 citation statements)

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“…Erdoğan and Öztürk (2016) documented a positive and significant association between corporate governance rating of 14 firms and the selected performance measure, net profit margin, for the 2009-2014 period. A similar relationship is also found in the study of Kara et al (2015) in which corporate governance rating is shown to positively affect market to book ratio. Kula and Baykut (2015) also verified a positive association between rating and market value of 43 firms listed between 2007 and 2014.…”

Section: Literature Reviewsupporting

confidence: 82%

“…Corporate governance ratings facilitate measuring compliance of firms to these principles. Some of the recent studies on BIST are those of Erdoğan and Öztürk (2016), Kara et al (2015), Kula and Baykut (2015), and Aydin and Ozcan (2015). Erdoğan and Öztürk (2016) documented a positive and significant association between corporate governance rating of 14 firms and the selected performance measure, net profit margin, for the 2009-2014 period.…”

Section: Literature Reviewmentioning

confidence: 99%

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Causality between Corporate Governance and Firm Performance:Evidence from Borsa Istanbul (BIST)

Ataünal

Aybars

2017

isarder

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Due to increasing pace of globalization and recent corporate scandals, corporate governance arrangements have attracted attention and become an area of discussion. Besides securing interests of shareholders, it is also proposed that corporate governance practices enhance shareholders' value. Based on a data set from Borsa Istanbul (BIST) and associated BIST Corporate Governance Index for the period between 2007 and 2015, this study attempts to evaluate whether market and operating performances of firms are affected from the level of adopted corporate governance practices. The study also addresses the issue of causality through systems equations constructed with selected instrumental variables. The findings revealed that corporate governance rating positively influenced stock market performance which was measured by Tobin's Q, and operating performance which was measured by return on assets. The study also found that the corporate governance sub-provisions of shareholders, public disclosure/ transparency and stakeholders had positive impact on market performance, while board structure was irrelevant.

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Section: Literature Reviewsupporting

confidence: 82%

Section: Literature Reviewmentioning

confidence: 99%

Causality between Corporate Governance and Firm Performance:Evidence from Borsa Istanbul (BIST)

Ataünal

Aybars

2017

isarder

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“…Bu çalışma, Türkiye verilerinden oluşmasıyla literatüre katkıda bulunmaktadır. Çalışma ayrıca konu ile ilgili Türkiye'de gerçekleştirilen çalışmalardan (örn; Erdur & Kara, 2015;Karayel & Doğan, 2014;Ocak, 2013) farklı olarak firma performansını hem muhasebe açısından, hem piyasa açısından, hem de finansal açıdan ölçen ülkemizdeki ilk çalışma olmasıyla da literatüre katkı sağlamaktadır. Çalışmanın literatüre bir diğer katkısı ise verilerin analiz edilmesinde panel veri analizinin kullanılmasıdır.…”

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Yöneti̇m Kurulu Çeşi̇tli̇li̇ği̇ni̇n Fi̇nansal Performansa Etki̇si̇: Bist 100 Üzeri̇ne Bi̇r Araştirma

Otluoğlu¹

2016

jisr

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ÖzSermaye Piyasası Kurulu'nun (SPK) 2014 yılında yayınlanan tebliği ile halka açık firmaların yönetim kurullarındaki cinsiyet çeşitliliğinin arttırılması istenmektedir. Bu doğrultuda çalışma, Borsa İstanbul'da (BİST) işlem görmekte olan firmaların yönetim kurullarının cinsiyet çeşitliliği ile firma performansı arasındaki ilişkiyi araştırmaktadır. Çalışmanın örneklemi olarak 2010-2015 yılları arasında BİST 100 endeksinde yer alan firmalar seçilmiştir. Örneklemde yer alan firmaların yönetim kurullarındaki cinsiyet çeşitliliği ile firmaların muhasebe temelli, piyasa temelli ve nakit temelli performans ölçütleri arasında ilişki incelenmiştir. Uygulanan panel veri analizi sonucunda; yönetim kurulunda kadın üye bulunmasının, firmaların özsermaye karlılığı ve Tobin'in q oranı üzerinde, yönetim kurulundaki kadın üye oranının ise aktif karlılık ve nakit akışı üzerinde etkili olduğu gözlemlenmiştir.Anahtar Kelimeler: Cinsiyet Çeşitliliği, Yönetim Kurulu Çeşitliliği, Finansal Performans, Panel Veri Analizi. AbstractThe communique issued by Capital Markets Board of Turkey (CPM) in 2014 requires the public companies to increase the gender diversity in the board member composition. This study examines the relationship between board diversity and financial performance. The sample of the study consists of the companies listed on Borsa Istanbul (BIST) 100 Index. The relationship between the board diversity and accounting based, market based and cash based financial performance indicators is examined. The result of panel data analysis indicates that female board membership affects Return on Equity and Tobin's q. Also, it is found that the proportion of female board membership affects Return on Assets and cash flows.

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“…It has a favorable effect on the financial disclosure of a bank. On the other hands, Kara & al (2015) share the same direction, studying the impact of corporate governance on the financial performance of companies listed on the XKURY index in Turkey. They suggest that companies that have adopted good governance, given the implementation of positive changes for better management, appear to be more reliable for creditors.…”

Section: Financial Reporting Board Of Directors and Market Performancementioning

confidence: 98%

Corporate Governance: An Overview. From Creation of Value for Shareholders by the Board to the Duality Role of Its Chairperson

Sayumwe¹

2019

JBAR

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Effects Of Corporate Governance Level On The Financial Performance Of Companies: A Research On BIST Corporate Governance Index (XKURY)

Cited by 20 publications

References 0 publications

Causality between Corporate Governance and Firm Performance:Evidence from Borsa Istanbul (BIST)

Causality between Corporate Governance and Firm Performance:Evidence from Borsa Istanbul (BIST)

Yöneti̇m Kurulu Çeşi̇tli̇li̇ği̇ni̇n Fi̇nansal Performansa Etki̇si̇: Bist 100 Üzeri̇ne Bi̇r Araştirma

Corporate Governance: An Overview. From Creation of Value for Shareholders by the Board to the Duality Role of Its Chairperson

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