Investigation of Corporate Governance in Business Group Affiliated and Independent Firms

Öz

This paper investigates whether there is a difference between business group affiliated and independent firms in terms of complying with the corporate governance principles. Based on data drawn from the corporate governance principles compliance reports of Borsa Istanbul (BIST) companies, the results of the study show that group affiliated firms have higher compliance with the corporate governance than the independent ones in general. The difference of the mean scores in compliance with the corporate governance, stakeholders, board of directors principles between group affiliated companies and independent ones is significant. However, the mean values in shareholders and public disclosure and transparency principles do not differ between these groups of firms. This study aims to advance the research on corporate governance and business groups by considering the corporate governance differences between business group companies and unaffiliated ones in an emerging economy.

Anahtar Kelimeler

• Business Groups
• Corporate Governance
• Business Group Affiliation
• Corporate Governance Principles

Kurumsal Yönetimin İşletme Gruplarına Bağlı ve Bağımsız Firmalarda İncelenmesi

Öz

Bu çalışma, işletme gruplarına bağlı ve bağımsız firmaların kurumsal yönetim ilkelerine uyumları arasında fark olup olmadığını incelemektedir. Çalışmada kullanılan veri Borsa Istanbul (BIST) firmalarının kurumsal yönetim ilkelerine uyum raporlarından elde edilmiştir. Analiz sonuçlarına göre, işletme gruplarına bağlı firmaların kurumsal yönetime uyum düzeyi bağımsız firmaların uyum düzeyinden genel olarak daha yüksektir. İşletme gruplarına bağlı ve bağımsız firmaların, menfaat sahipleri ve yönetim kurulu ilkeleri ile kurumsal yönetime uyum ortalamaları arasındaki fark anlamlıdır. Gruplara bağlı ve bağımsız firmaların, kamuyu aydınlatma ve şeffaflık ve pay sahipleri ilkelerine uyum ortalamaları arasındaki fark anlamlı bulunmamıştır. Bu araştırma, gelişmekte olan bir ekonomide işletme gruplarına bağlı ve bağımsız firmaların kurumsal yönetim ilkelerine uyumları arasındaki farkı inceleyerek kurumsal yönetim ve işletme grupları ile ilgili yazını ilerletmeyi amaçlamaktadır.

Anahtar Kelimeler

• İşletme Grupları
• Kurumsal Yönetim
• İşletme Gruplarına Bağlılık
• Kurumsal Yönetim İlkeleri

Kaynakça

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