Yönetim ve Strateji Perspektifinden Kurumsal Yönetimin Dünyada ve Türkiye’de Gelişimi ve Geleceği
The Evolution and Future of Corporate Governance in the World and Turkey from the Management and Strategy Perspective

Author(s): Nigar Çağla Mutlucan
Subject(s): Business Economy / Management, Governance, Management and complex organizations, Economic development, Financial Markets
Published by: Özgür Yayın Dağıtım Ltd. Şti.
Keywords: Turkey; Corporate Governance; Financial Aspects;
Summary/Abstract: Corporate governance emerges as a concept whose importance is increasing daily due to company scandals in recent years. Corporate governance is a concept that has been used in Europe, America, and Japan since the 19th century. However, the importance of corporate governance increased in the 1980s, mainly due to corruption and scandals in companies. One of the first studies on corporate governance was the report titled "The Cadbury Committee Report: Financial Aspects of Corporate Governance" (1992), prepared by Sir Adrian Cadbury in England and referred to as the Cadbury Report. The published report regulates the responsibilities of the board of directors and managers, the rights and responsibilities of shareholders, and the auditors' roles. The Organization for Economic Cooperation and Development (OECD) also published the principles related to corporate governance under the title Corporate Governance Principles in 1999. In the United States, the Sarbanes-Oxley (SOX) law was promulgated by the American Congress in 2002. TUSIAD carried out the first study on corporate governance in Turkey. Later, the Capital Market Board (SPK) enacted corporate governance principles for publicly traded companies in 2003. Subsequently, the Banking Regulation and Supervision Agency (BDDK) introduced a corporate governance regulation for banks in 2006. Furthermore, the issue of corporate governance was included in the Capital Markets Law in 2011. Finally, the new Turkish Commercial Code, which came into force in mid-2012, introduced important regulations regarding corporate governance. In this study, in addition to the applications in countries such as America, England, Germany, France, and Japan, the applications in South Africa, Brazil, and Turkey were examined from the perspective of management and strategy. At the end of the study, opinions were shared about how the corporate governance approach should evolve.

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