Sermaye Piyasası Kurulu 30 Aralık 2011 ve 11 Şubat 2012 tarihlerinde yayınladığı Seri IV, No: 56 ve 57 sayılı tebliğlerle 2003 yılında ‘uy yada açıkla' yaklaşımı ile yayınladığı Kurumsal Yönetim İlkeleri'ni yeniledi ve ilkelerin bir kısmını 654 sayılı kanun...

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...

An important issue in evaluating corporate governance is how to measure it. In prior work on emerging markets, we have advocated measuring firm-level governance using country-specific indices, tailored to each country's laws and institutions. An alternate approach, used in commercial indices, is...

We develop a Clawback Strength Index and show that while some firms adopt unambiguous and strong clawback provisions, others adopt weak ones. We find that strong clawback adopters experience improvements in financial reporting quality, fewer CEO turnovers, and lower CEO pay. We advance two...

Well-constructed, country-specific “corporate governance indices” can predict higher firm values in emerging markets. However, there is little credible research on which aspects of governance drive that overall relationship. We study that question across four major emerging markets (Brazil,...

Using data from the OSIRIS database, we investigate the gender wage gap in top corporate jobs for the years 2000 till 2004. We find that female managers receive 24.0 percent less in total compensation (salary, bonuses, other payments and exercised stock options) than their male colleagues. This...

A large number of empirical studies in the U.S. report that there is no cross-sectional relationship between board composition and firm performance. On the other hand, a relatively small but growing literature on boards in emerging market corporations shows that a higher level of board...

This study addresses the question of why the observed diversification patterns of family business groups (FBGs) in response to major economic and institutional developments in emerging markets contradict the predictions of the dominant theoretical perspectives. We explain how environmental...

Bu makale yönetişim sistemleri ve ülkelerin ekonomik performansı arasındaki ilişki konusunda yapılan araştırmaların bir sentezini oluşturmaya çalışmaktadır. Makalede yönetişim sistemlerinin çerçevesinin belirlenmesinde önemli rol oynadıkları düşünülen sahiplik...

The Second International conference on corporate Governance in emerging Markets is one in a series of academic events organized by the Emerging Markets Corporate Governance Network (EMCGN). The Global Corporate Governance Forum (GCGF) at the IFC endorses and supports the Network, which was first...