Corporate governance rating and ownership structure in the case of Turkey

By using corporate governance data on 22 publicly traded Turkish companies we estimate the determinants of corporate governance ratings for these companies with a focus on ownership structure. Our results show that company earnings, financial risk and firm size positively influence the corporate gov...

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Bibliographic Details
Published in:International journal of financial studies 2016-06, Vol.4 (2), p.1-16
Main Authors: Gurarda, Sevin, Ozsoz, Emre, Ates, Abidin
Format: Article
Language:English
Subjects:
Boards of directors
Capital markets
Corporate governance
corporate governance index
Emerging markets
Equity
Macroeconomics
Market economies
Ratings & rankings
Return on assets
Stock exchanges
Stockholders
Turkish firms
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Summary:By using corporate governance data on 22 publicly traded Turkish companies we estimate the determinants of corporate governance ratings for these companies with a focus on ownership structure. Our results show that company earnings, financial risk and firm size positively influence the corporate governance ratings (CGR) that Turkish firms receive. In the meantime, we find some weak evidence that family ownership has a negative and foreign ownership has a positive impact on CGR scores.
ISSN:2227-7072
2227-7072
DOI:10.3390/ijfs4020008