The paper studies the dynamics of company profits for 172 of the largest manufacturing firms in Turkey. A time-series analysis is used to estimate the long-run projected profits and firm-specific speed of adjustment parameters that measures the rate at which short-run rents are eroded. While we...

Three problems pose severe challenges to identify the impact of corporate social responsibility (CSR) on firm value and performance. These are construct validity, limited data, and endogeneity. To deal with them we use a broad composite measure of CSR and panel data with firm fixed and random...

In recent years considerable attention has been devoted to differences across countries in the institutional environments in which corporations operate, and the consequences of these institutional differences for corporate performance. In this paper we test for the presence of differences in...

We study the corporate governance practices of Turkish public 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,...