Performance Evaluation of Corporate Governance Index in Turkey


DAĞLI H. , EYÜBOĞLU K. , ayaydın h.

JOURNAL OF ACCOUNTING AND FINANCE, vol.12, no.2, pp.163-172, 2012 (Refereed Journals of Other Institutions)

  • Publication Type: Article / Article
  • Volume: 12 Issue: 2
  • Publication Date: 2012
  • Title of Journal : JOURNAL OF ACCOUNTING AND FINANCE
  • Page Numbers: pp.163-172

Abstract

Corporate governance is a considerably modern managerial approach in all over the world. Capital Markets Board of Turkey (CMB) has formed the Corporate Governance Principles in Turkey. After the regulations of CMB Corporate Governance Principles in Turkey, Istanbul Stock Exchange (ISE) has also started to calculate “Corporate Governance Index” by rating the compliance of the corporate governance principles to support the application of these principles in publicly held companies listed in ISE. The aim of the paper is to evaluate 2007 September-2009 November period corporate governance index in terms of risk-return in Turkey. In the paper, commonly used Sharpe, Treynor and Jensen performance indexes are ranked. According to each three performances index, the most successful index is ISE 30 Index; Corporate Governance Index is at the middle ranks.