Examining the Relationship Between Corporate Governance Scores and Financial Performance: An Application on Borsa Istanbul

Mert Baran Tunçel

Makale detayları

Examining the Relationship Between Corporate Governance Scores and Financial Performance: An Application on Borsa Istanbul

Yazarlar:

Mert Baran Tunçel

Yayıncı:

Alanya Alaaddin Keykubat Üniversitesi

Ana Başlıklar:

Finans

Dergi:

Alanya Akademik Bakış Vol.9 Issue 1, pp.243-257

Belge Tipi:

Makale

Yayın Tarihi:

1/2025

Belge Dili:

Türkçe

Document ID (Org No.):

2001340186

pISSN:

2651-4192

Anahtar kelimeler:

Özet:

 This study aims to look into how corporate governance scores affect the financial performance of firms for a panel of firms that are fully reached by corporate governance scores and not in the banking industry and are traded on Borsa Istanbul. The studys sample period spans from 2010 to 2022. Initially, the financial performance scores of the firms were calculated using the MOORA method and prepared for panel data analysis. Subsequently, preliminary evaluation tests unit root test, homogeneity test, and cross-sectional dependence test were conducted. Based on the results of these tests, the Kónya 2006 panel causality test was employed to analyze the causal relationships among the variables. Based on the firm and panel data, there was no discernible causal relationship among the financial performances of the firms and the corporate governance scores, as per the findings of the Kónya panel causality test. The lack of a relationship between the variables in the analysis results may indicate that firms in different sectors could have different perspectives, and that economic, cultural, and demographic differences between firms might be influential.

 This study aims to look into how corporate governance scores affect the financial performance of firms for a panel of firms that are fully reached by corporate governance scores and not in the banking industry and are traded on Borsa Istanbul. The studys sample period spans from 2010 to 2022. Initially, the financial performance scores of the firms were calculated using the MOORA method and prepared for panel data analysis. Subsequently, preliminary evaluation tests unit root test, homogeneity test, and cross-sectional dependence test were conducted. Based on the results of these tests, the Kónya 2006 panel causality test was employed to analyze the causal relationships among the variables. Based on the firm and panel data, there was no discernible causal relationship among the financial performances of the firms and the corporate governance scores, as per the findings of the Kónya panel causality test. The lack of a relationship between the variables in the analysis results may indicate that firms in different sectors could have different perspectives, and that economic, cultural, and demographic differences between firms might be influential.

 This study aims to look into how corporate governance scores affect the financial performance of firms for a panel of firms that are fully reached by corporate governance scores and not in the banking industry and are traded on Borsa Istanbul. The studys sample period spans from 2010 to 2022. Initially, the financial performance scores of the firms were calculated using the MOORA method and prepared for panel data analysis. Subsequently, preliminary evaluation tests unit root test, homogeneity test, and cross-sectional dependence test were conducted. Based on the results of these tests, the Kónya 2006 panel causality test was employed to analyze the causal relationships among the variables. Based on the firm and panel data, there was no discernible causal relationship among the financial performances of the firms and the corporate governance scores, as per the findings of the Kónya panel causality test. The lack of a relationship between the variables in the analysis results may indicate that firms in different sectors could have different perspectives, and that economic, cultural, and demographic differences between firms might be influential.

 Bu çalışma, Borsa İstanbulda işlem gören firmaların kurumsal yönetim notları ile finansal performansları arasındaki ilişkiyi incelemeyi amaçlamaktadır. Çalışmanın örneklem dönemi 2010-2022 yıllarını kapsamaktadır. İlk olarak, firmaların finansal performans skorları MOORA yöntemi ile hesaplanmış ve panel veri analizine uygun hale getirilmiştir. Sonrasında, ön değerlendirme testleri birim kök testi, homojenlik testi ve yatay kesit bağımlılığı testi uygulanmıştır. Test sonuçlarına dayanarak değişkenler arasındaki nedensellik ilişkisi Kónya panel nedensellik testi ile analiz edilmiştir. Hem firma bazlı sonuçlar hem de panelin geneli temel alındığında, Kónya 2006 panel nedensellik testi sonuçlarına göre, firmaların kurumsal yönetim notlarndanı finansal performanslarına doğru belirgin bir nedensellik ilişkisi tespit edilememiştir. Analiz sonuçlarında değişkenler arasında bir ilişki bulunmaması, farklı sektörlerdeki firmaların farklı bakış açılarına sahip olabileceğini ve ekonomik, kültürel ve demografik farklılıkların bu sonuçları etkileyebileceğini düşündürebilir.

Makale detayları

Examining the Relationship Between Corporate Governance Scores and Financial Performance: An Application on Borsa Istanbul

Yazarlar:

Mert Baran Tunçel

Yayıncı:

Alanya Alaaddin Keykubat Üniversitesi

Ana Başlıklar:

Finans

Dergi:

Alanya Akademik Bakış Vol.9 Issue 1, pp.243-257

Belge Tipi:

Makale

Yayın Tarihi:

1/2025

Belge Dili:

Türkçe

Document ID (Org No.):

2001340186

pISSN:

2651-4192

Corporate Governance Scores

Financial Performance

Panel Causality AnalysisKurumsal Yönetim Notu

Finansal Performans

Panel Veri Analizi

Sayı

Makale detayları

Examining the Relationship Between Corporate Governance Scores and Financial Performance: An Application on Borsa Istanbul

Yazarlar: Mert Baran Tunçel

Yayıncı: Alanya Alaaddin Keykubat Üniversitesi

Ana Başlıklar: Finans

Dergi: Alanya Akademik Bakış Vol.9 Issue 1, pp.243-257

Belge Tipi: Makale

Yayın Tarihi: 1/2025

Belge Dili: Türkçe

Document ID (Org No.): 2001340186

pISSN: 2651-4192

Corporate Governance Scores

Financial Performance

Panel Causality AnalysisKurumsal Yönetim Notu

Finansal Performans

Panel Veri Analizi

Sayı

Yazarlar:

Mert Baran Tunçel

Yayıncı:

Alanya Alaaddin Keykubat Üniversitesi

Ana Başlıklar:

Finans

Dergi:

Alanya Akademik Bakış Vol.9 Issue 1, pp.243-257

Belge Tipi:

Makale

Yayın Tarihi:

1/2025

Belge Dili:

Türkçe

Document ID (Org No.):

2001340186

pISSN:

2651-4192