HISTORICAL DEVELOPMENT AND REGULATIONS OF CORPORATE GOVERNANCE: A STUDY ON WORLD AND TÜRKİYE APPLICATIONS
Keywords:
Corporate Governance, Historical Development, OECD Principles, Corporate Governance IndexAbstract
The study comprehensively examines the historical development of corporate governance, its practices and regulations in the global and Turkish contexts. In the literature, the theoretical foundations and economic rationale of corporate governance mechanisms are explained through classical approaches such as transaction costs and agency theory. Internationally, the OECD Corporate Governance Principles, published in 1999, 2004, and 2015, have defined the principles of transparency, accountability, fairness, and responsibility as universal governance standards, thus laying the foundation for cross-country comparative practices. In Turkey, the Corporate Governance Principles and the Borsa Istanbul Corporate Governance Index, published by the Capital Markets Board of Türkiye since 2000, stand out as important tools for monitoring corporate governance practices, increasing transparency, and supporting empirical research. By integrating a historical perspective with the theoretical and practical dimensions of corporate governance practices, the study evaluates the impact of governance reforms in light of both the international literature and the Türkiye experience.
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