ÇEŞİTLENDİRİLMİŞ YÖNETİM KURULUNUN DENETÇİ SEÇİMİ, KURUMSAL YÖNETİM VE SÜRDÜRÜLEBİLİRLİK İLE İLİŞKİSİ: BİST100 ŞİRKETLERİ ÜZERİNE BİR UYGULAMA

Öz

Geçtiğimiz yüzyılda kadın haklarında büyük ilerleme kaydedilmesine rağmen, bugün hâlâ iyileştirme yapılmasına ihtiyaç duyulmaktadır; halka açık şirketlerdeki kadınlar yönetim kurulunda yeterli oranda temsil edilmemektedirler. Bu çalışmanın amacı, çeşitlendirilmiş bir yönetim kurulunun olmasının halka açık şirketlerin denetçi seçimi, kurumsal yönetim ve kurumsal sürdürülebilirlik uygulamaları ile istatistiksel olarak anlamlı bir ilişkiye sahip olduğunu göstermektir. Uygunluk raporlarında yayınlanan kurumsal yönetim notları dikkate alınmakta ve firmalar eğer Borsa İstanbul’un sürdürülebilirlik endeksinde yer alıyorlarsa kurumsal sürdürülebilirlik alanında başarılı olarak ölçülmektedir. Araştırma yöntemi olarak yazar bu şirketlerin bağımsız denetçi seçimini ve kurul yapısını istatistiksel olarak karşılaştırmıştır.

Anahtar Kelimeler

• Cam Tavan
• Bağımsız Denetçi
• Sürdürülebilirlik Endeksi

THE RELATIONSHIP BETWEEN DIVERSIFIED BOARD OF DIRECTORS, AUDITOR SELECTION, CORPORATE GOVERNANCE AND SUSTAINABILITY: AN APPLICATION ON BORSA ISTANBUL COMPANIES

Öz

Even though much progress has been made in women’s rights in the past century, there is still room for improvement, as today women are not justifiably represented in the board of directors in publicly held corporations. The purpose of this study is to show that having a diversified board of directors has a statistically meaningful relationship with the auditor choice, corporate governance, and corporate sustainability applications of publicly held corporations. To measure the level of good corporate governance, the corporate governance grades in compliance reports are taken into account, and corporate sustainability is measured as successful if Borsa Istanbul includes the corporation in the sustainability index. As the research method, the author statistically compares the independent auditor choice of these corporations and Board structure. 

Anahtar Kelimeler

• Glass Ceiling
• Independent Auditor
• Sustainability Index

Kaynakça

1. Al-Shaer, H. and Zaman, M. 2016. “Board Gender Diversity and Sustainability Reporting Quality”. Journal of Contemporary Accounting and Economics, 12, 210-222. https://ssrn.com/abstract=3109246 (Access Date: November 1, 2018).
2. Aslan, L. 2017. “Independent Audit Firm Reliability in Turkey: A Research on CMB Sanctions”. Lectio Socialis, 1(1), 6 – 15.
3. Ataünal, L. and Aybars, A. 2018. “Yönetim Kurullarındaki Cinsiyet Çeşitliliği ile Çeşitliliğin Finansal Performans Etkisi: Gelişmekte Olan Piyasa Örneği”. Maliye Finans Yazıları, 109, 71 – 90.
4. Atılgan, Ö. 2017. “Yönetim Kurulu Büyüklüğü, Bağımsız Üye Oranı ve Kadın Üye Oranı Ile Finansal Performans İlişkisi”. Dokuz Eylül Üniversitesi İktisadi ve Bilimler Fakültesi Dergisi, 32(2), 315 – 354.
5. Bathala, C. and Rao, R. 1995. “The Determinants of Board Composition: An Agency Theory Perspective”. Managerial and Decision Economics, 16(1), 59 – 69.
6. Bertrand, M. 2018. “The Glass Ceiling Working Paper. Becker Friedman Institute”. https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3191467 Access Date: October 29, 2018).
7. Borsa Istanbul. 2015. “BIST Sustainable Index Research Methodology”. http://www.borsaistanbul.com/docs/default-source/endeksler/bist-sustainability-index-research-methodology.rar?sfvrsn=8 (Access Date: November 1, 2018).
8. Borsa Istanbul. 2018a. “Şirketler İçin Sürdürülebilirlik Rehberi”. http://www.borsaistanbul.com/data/kilavuzlar/surdurulebilirlik-rehberi.pdf (Access Date: November 1, 2018).

9. Borsa Istanbul. 2018b. “BIST Sürdürülebilirlik Endeksi”. http://www.borsaistanbul.com/endeksler/bist-pay-endeksleri/surdurulebilirlik-endeksi (Retrieved on November 1, 2018).
10. Carter, D. A., Simkins, B. and Simpson, W. G. 2003. “Corporate Governance, Board Diversity and Firm Value”. The Financial Review, 38(1), 33 -53.
11. CMB. 2007. “Communiqué Serial VIII No 51 on Rating Activities in Capital Market and Principles Regarding Rating Agencies”. http://mevzuat.spk.gov.tr/Onceki/ (Access Date: November 1, 2018).
12. Countrymeters. Data from https://countrymeters.info/en/world. (Access Date: May 2, 2019).
13. Erkol, A. Y. 2020. “Yönetim Kurulu Yapısı ve İhtiyatlılık: BİST Kurumsal Yönetim Endeksi İmalat Sanayi Firmaları Üzerine Bir Araştırma”. International Journal of Economic & Administrative Studies, 27, 15 – 34.
14. European Commission. 2018. “Gender Equality” https://ec.europa.eu/info/policies/justice-and-fundamental-rights/gender-equality_en (Access Date: November 1, 2018).
15. Francoeur, C., Labelle, R. and Sinclair-Desgagné, B. 2008. “Gender Diversity in Corporate Governance and Top Management”. Journal of Business Ethics, 81(1), 83-95.
16. Freeman, R., Harrison, J., Wicks, A., Parmar, B. and De Colle, S. 2010. Stakeholder Theory: The State of the Art, Cambridge University Press, New York, NY.
17. Galbreath, J. 2011. “Are There Gender-Related Influences on Corporate Sustainability? A Study of Women on Boards of Directors”. Journal of Management & Organization, 17(1), 17-38. doi:10.1017/S1833367200001693
18. Grosser, K. 2009. “Corporate Social Responsibility and Gender Equality: Women as Stakeholders and The European Union Sustainability Strategy”. Business Ethics, 18(3), 290-307. https://doi.org/10.1111/j.1467-8608.2009.01564.x
19. Harjoto, M., Laksmana, I. and Lee, R. 2015. “Board Diversity and Corporate Social Responsibility”. Journal of Business Ethics, 132, 641 – 660.
20. Hendry, J. 2010. “Missing the Target: Normative Stakeholder Theory and The Corporate Governance Debate”. Business Ethics Quarterly, 11(1), 159 – 176.
21. Hussain, N., Rigoni, U. and Orij, R. P. 2018. “Corporate Governance and Sustainability Performance: Analysis of Triple Bottom Line Performance”. Journal of Business Ethics, 149, 411-432.
22. IISD. 2020. Sustainable Development. https://www.iisd.org/topic/sustainable-development (Retrieved on May 10, 2020).
23. Jurova, V. 2016. “Gender Balance on Corporate Boards: Europe Is Cracking the Glass Ceiling”. http://ec.europa.eu/newsroom/document.cfm?doc_id=46280 (Access Date: November 1, 2018).
24. Kang, H., Chang, M. and Gray, S. J. 2007. “Corporate Governance and Board Composition: Diversity and Independence of Australian Boards”. Corporate Governance an International Review, 15(2), 194 – 207.
25. Kaplan, E. T. S. 2017. “Equality Principle and Gender Discrimination in Labor Law”. TBB Dergisi, 30, 225-268.
26. Karayel, M. ve Doğan, M. 2014. “Yönetim Kurulunda Cinsiyet Çeşitliliği ve Finansal Performans İlişkisi: BİST 100 Şirketlerinde Bir Araştırma”. Süleyman Demirel Üniversitesi İktisadi ve İdari Bilimler Fakültesi Dergisi, 19(2), 75 – 88.
27. Lagerberg, F. 2015. “Women in Business: The Value of Diversity”. https://www.grantthornton.global/globalassets/wib_value_of_diversity.pdf (Access Date: November 1, 2018).
28. Lageweg, W. 2014. “Corporate Social Responsibility: The Standard For 21st Century Business”. Towards Sustainability: Major Challenges for Corporate Law, Corporate Governance and Regulation. The Hague: Eleven International Publishing.
29. Lee, H. and Lee, H. 2013. “Do Big4 Audit Firms Improve the Value Relevance of Earnings and Equity?”. Managerial Auditing Journal, 28(7), 628-646.
30. Merino, E. and Manzaneque, M. 2016. “Board of Directors as a Corporate Governance Mechanism Principles, Practices, Proposals and New Challenges”. Corporate Governance Principles: Practices and Challenges. New York: Nova Publishers.
31. Nadeem, M., Zaman, R. and Saleem, I. 2017. “Boardroom Gender Diversity and Corporate Sustainability Practices: Evidence from Australian Securities Exchange Listed Firms”. Journal of Cleaner Production, 149, 874-885. https://doi.org/10.1016/j.jclepro.2017.02.141
32. Ng, E.S. and Sears, G. J. 2017. “The Glass Ceiling in Context: The Influence Of CEO Gender, Recruitment Practices And Firm Internationalization On The Representation Of Women In Management”. Human Resource Management Journal, 27(1), 133-151.
33. OECD. 2015. “G20/OECD Principles of Corporate Governance”. https://www.oecd.org/daf/ca/Corporate-Governance-Principles-ENG.pdf (Access Date: November 1, 2018)
34. Parmar, B.L., Freeman, R.E., Harrison, J.S., Wicks, A.C., De Colle, S. and Purnell, L. 2010. “Stakeholder Theory: The State of The Art”. The Academy of Management Annals, 3(1), 403-445.
35. Post, C., Rahman, N. and McQuillen, C. 2014. “From Board Composition to Corporate Environmental Performance Through Sustainability-Themed Alliances”. Journal of Business Ethics, 130, 423 – 435.
36. Schwarz, K. and Bisschop, B.S. 2014. Introduction. Towards Sustainability: Major Challenges for Corporate Law, Corporate Governance and Regulation. The Hague: Eleven International Publishing.
37. Setó Pamies, D. 2013. “The Relationship Between Women Directors and Corporate Social Responsibility”. Corporate Social Responsibility and Environmental Management, 22(6), 334-345. https://doi.org/10.1002/csr.1349
38. United Nations. 2014. “Guide to Corporate Sustainability”. https://www.unglobalcompact.org/docs/publications/UN_Global_Compact_Guide_to_Corporate_Sustainability.pdf (Access Date: November 1, 2018).
39. United Nations. 1948. “Declaration of Human Rights”. http://www.un.org/en/universal-declaration-human-rights/ (Access Date: November 1, 2018).
40. Van der Byl, C.A. and Slawinski, N. 2015. “Embracing Tensions in Corporate Sustainability: A Review of Research from Win-Wins and Trade-Offs to Paradoxes and Beyond”. Organization & Environment, 28(1), 54-79.
41. Velte, P. 2018. “Do Women on Board of Directors Have an Impact on Corporate Governance Quality and Firm Performance? A Literature Review”. International Journal of Sustainable Strategic Management, 5(4), 302 – 346.
42. Vildasen, S. S. and Havenvid, M. I. 2018. “The Role of Interaction for Corporate Sustainability”. IMP Journal, 12(1), 148-170.
43. Wilson, R. 2015. A Cross-Sectional Examination of Non-Big4 Firms’ Reliability. Managerial Auditing Journal, 30(6/7), 633-656.
44. Worldbank. 2018. Data from https://data.worldbank.org/indicator/SG.NOD.CONS?view=chart (Access Date: October 29, 2018).
45. Zhang, J. Q., Zhu, H. and Ding, H. 2013. “Board Composition and Corporate Social Responsibility: An Empirical Investigation in The Post Sarbanes-Oxley Era”. Journal of Business Ethics, 114, 381 – 392.