Kurumsal ortamda degişim ve büyük aile holdingleri bünyesindeki şirketlerin yönetim kurullarında ‘icrada görevli olmayan’ ve ‘bağımsız’ üyeler = Changes in the institutional environment and "Non-Executive" and "Independent" directors on the boards of firms affiliated to large family business groups

This study examines the response of large family business groups with respect to the boards of their affiliated firms to the recent strengthening of corporate governance discourse in Turkey and the governance principles introduced for listed companies. Our findings show that boards are largely composed of non-executive directors. However, these are either members of the controlling family or hold executive positions in the central administrative structure of the group or other affiliated firms and can therefore not be considered as outsiders. Independent directors are almost non-existent. Most of the dependent outsiders limited in number are either retired or work as consultants, of which, a significant proportion comes from public sector backgrounds, including active involvement in politics.