jats

Journal of Accounting and Taxation Studies

1308-3740 2564-6591

Ankara Serbest Muhasebeci Mali Müşavirler Odası

10.29067/muvu.1053921

Business Administration

İşletme

CORPORATE GOVERNANCE AND FINANCIAL PERFORMANCE: EMPIRICAL EVIDENCE FROM TURKEY

KURUMSAL YÖNETİM İLE FİNANSAL PERFORMANS İLİŞKİSİ: TÜRKİYE’DE AMPİRİK BİR ARAŞTIRMA

https://orcid.org/0000-0002-5963-2585

Cengiz

Sevgi

KAFKAS ÜNİVERSİTESİ

https://orcid.org/0000-0001-6953-2468

Karabayır

Mehmet Emin

KAFKAS ÜNİVERSİTESİ

07 01 2022

15 2 321 348 01 06 2022 02 17 2022

2008

Journal of Accounting and Taxation Studies

Ineffective implementation of corporate governance or having a low corporate governance understanding is shown as one of the reasons for the emergence of financial crises at micro (enterprise level) and macro level (global scale), which have increased in recent years. The role of corporate governance in the production of accurate, reliable, transparent and comparable financial information directly affects the financial performance of enterprises that are facing more and more resource constraints.In this context, the aim of this study is to determine the relationship between corporate governance practices and financial performance of 156 companies continuously traded in İstanbul Stock Exchange (BIST) during 2008-2018 period, using Dynamic Panel Data Analysis. While corporate governance rating is used as a measure of corporate governance, Return on Assets (ROA), Return on Equity (ROE) and Tobin's Q are used as proxies of financial performance. The results revealed a positive relationship between corporate governance practices and the financial performance of companies, i.e., as corporate governance of firms increases, financial performance increases correspondingly.

Kurumsal yönetimin etkin bir şekilde uygulanmaması veya düşük kurumsal yönetim anlayışına sahip olma, özellikle son yıllarda artış gösteren mikro seviyede (işletme düzeyinde) ve makro seviyede (küresel ölçekte) finansal krizlerin ortaya çıkma sebeplerinden birisi olarak gösterilmektedir. Kurumsal yönetimin doğru, güvenilir, şeffaf ve karşılaştırılabilir finansal bilgi üretimindeki rolü, gün geçtikçe daha fazla kaynak sıkıntısı çekmekte olan işletmelerin finansal performansını da doğrudan etkilemektedir.Bu kapsamda, çalışmanın amacı Borsa İstanbul’da (BİST) 2008-2018 yılları arasında kesintisiz işlem gören 156 şirkette kurumsal yönetim uygulamaları ile finansal performans ilişkisini Dinamik Panel Veri Analizi Yöntemi ile tespit etmektir. Kurumsal yönetimin ölçümünde Kurumsal Yönetim Derecelendirme Notu kullanılırken, finansal performans için ise Aktif Karlılığı (ROA), Özsermaye Karlılığı (ROE) ve Tobin’s Q vekil olarak kullanılmıştır. Çalışma sonucunda, şirketlerin kurumsal yönetim uygulamaları ile finansal performansı arasında pozitif bir ilişki olduğu, kurumsal yönetim arttıkça finansal performansın da arttığı tespit edilmiştir.

Kurumsal Yönetim Kurumsal Yönetim Derecelendirmesi Finansal Performans

Corporate Governance Corporate Governance Rating Financial Performance

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