THE EFFECT OF CORPORATE GOVERNANCE REGULATIONS IN STOCK MARKETS ON BOARD AND CAPITAL STRUCTURES OF COMPANIES: AN APPLICATION ON BORSA ISTANBUL

Cuneyd Ebrar LEVENT

doi:https://doi.org/10.17261/Pressacademia.2019.1113

Makale detayları

THE EFFECT OF CORPORATE GOVERNANCE REGULATIONS IN STOCK MARKETS ON BOARD AND CAPITAL STRUCTURES OF COMPANIES: AN APPLICATION ON BORSA ISTANBUL

Yazarlar:

Cuneyd Ebrar LEVENT

Yayıncı:

PressAcademia

Ana Başlıklar:

Yönetim

Dergi:

Journal of Economics Finance and Accounting 2019 Vol.6 Issue 3, pp.142-158

Belge Tipi:

Makale

Yayın Tarihi:

9/2019

Belge Dili:

İngilizce

Document ID (Org No.):

2000738587

Sıklık:

Üç Aylık

eISSN:

2148-6697

DOI:

https://doi.org/10.17261/Pressacademia.2019.1113

Özet:

 


Purpose- Regulators seek to intervene directly or indirectly in the management styles and financial structures of companies in order to ensure the transparent and efficient functioning of the market, as well as to protect investors. The aim of the study is to determine the effect of corporate governance regulations in stock markets on board and capital structures of the industrial companies listed on Borsa Istanbul (BIST).

Methodology- The study covers the period 2010-2014, including the period during which policy changes took place in Turkey. The sample consists of 134 companies listed in BIST Industry Index and traded continuously during this period. Non-parametric statistical tests are used for the effect of regulations on management structure, while the effect on capital structure is analyzed by panel regression analysis.

Findings- The results show that the regulations have a significant effect on establishment of an internal audit system, the inclusion of independent directors on board and board size. However, there is no statistically significant effect of the regulations on capital structures (leverage) on both pooled model and fixed effect models.

Conclusion- The evidence presented in the study suggests the necessity of the regulations and enforcements for public companies in the field of corporate governance. The results of the study are expected to shed light on not only researchers but also policy makers and regulatory bodies.

.

Makale detayları

THE EFFECT OF CORPORATE GOVERNANCE REGULATIONS IN STOCK MARKETS ON BOARD AND CAPITAL STRUCTURES OF COMPANIES: AN APPLICATION ON BORSA ISTANBUL

Yazarlar: Cuneyd Ebrar LEVENT

Yayıncı: PressAcademia

Ana Başlıklar: Yönetim

Dergi: Journal of Economics Finance and Accounting 2019 Vol.6 Issue 3, pp.142-158

Belge Tipi: Makale

Yayın Tarihi: 9/2019

Belge Dili: İngilizce

Document ID (Org No.): 2000738587

Sıklık: Üç Aylık

eISSN: 2148-6697

DOI: https://doi.org/10.17261/Pressacademia.2019.1113

Sayı

Yazarlar:

Cuneyd Ebrar LEVENT

Yayıncı:

PressAcademia

Ana Başlıklar:

Yönetim

Dergi:

Journal of Economics Finance and Accounting 2019 Vol.6 Issue 3, pp.142-158

Belge Tipi:

Makale

Yayın Tarihi:

9/2019

Belge Dili:

İngilizce

Document ID (Org No.):

2000738587

Sıklık:

Üç Aylık

eISSN:

2148-6697

DOI:

https://doi.org/10.17261/Pressacademia.2019.1113