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Yönetişim (kurumsal yönetim) kalitesi açısından icra ve kontrol işlevlerinin ayrılığı ve Türkiye'deki geleneksel yapılanmaların şirket performansına muhtemel etkisi (Separation of execution and control functions for effective governance and the potential effect of structural regularities in Turkey on firm performance)

Ararat, Melsa and Eroğlu, Muzaffer (2017) Yönetişim (kurumsal yönetim) kalitesi açısından icra ve kontrol işlevlerinin ayrılığı ve Türkiye'deki geleneksel yapılanmaların şirket performansına muhtemel etkisi (Separation of execution and control functions for effective governance and the potential effect of structural regularities in Turkey on firm performance). Kadir Has Universitesi Hukuk Fakültesi Dergisi, 5 (1). pp. 105-122. ISSN 2147-9305

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Abstract

This paper discusses the performance implications of idiosyncratic governance arrangements, where execution and control functions overlap, in Turkey and the reasoning behind the principle of separation of the head of the executive function (Chief Executive Officer) and Board Chairmanship roles. Using the lens of management and finance theories, and with reference to the law, the regulations and generally accepted principles of good governance, the discussion highlights the conflicts of interest stemming from such overlap underpinned partly by tradition and cultural norms. The purpose of the paper is to encourage empirical research on the performance effect of such arrangements and further observations and investigations in the field. The paper is organized as follows; we first summarize the theoretical arguments in favor of separation of execution and control functions in Section 1. Section 2 discusses how this matter is addressed by generally accepted corporate governance principles and how these principles are reflected in capital market laws and regulations. In Section 3, we critically discuss the organizational regularities and common practices against the spirit of the law and regulations on corporate governance in Turkey. Section 4 concludes.

Item Type:Article
Additional Information:Although the paper was accepted in September, the journal issue had a backlog and was published with the date of 1 June 2017
Uncontrolled Keywords:Corporate Governance, Joint Stock Company, Executive Member, Board of Directors
Subjects:H Social Sciences > HG Finance > HG4001-4285 Financial management. Business finance. Corporation finance
K Law > K Law in general. Comparative and uniform law. Jurisprudence
K Law >
ID Code:35937
Deposited By:Melsa Ararat
Deposited On:15 Aug 2018 10:48
Last Modified:15 Aug 2018 10:48

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