TÜRKİYE’DE KURUMSAL YÖNETİM DERECELENDİRMESİ: FİRMALARIN PUANLARININ İNCELENMESİ

2001 yılındaki kurumsal yönetim krizi ve sonraki yıllardaki krizlerden sonra yönetişime artan bilgi ilgi oluştu. Bu ilgi de kurumsal yönetime odaklandı. Türkiye’de de 2003 yılından sonra kurumsal yönetimle ilgili gelişmeler yaşandı. 2003 yılında Sermaye Piyasası Kurumu “Türkiye Kurumsal Yönetim İlkeleri’ni yayınladı. 2007 yılında kurumsal yönetim derecelendirme şirketleri ile ilgili esaslar Resmi Gazete’de yayınlandı. Amaç: Bu gelişmelere bağlı olarak bu makale Türkiye’deki kurumsal yönetim derecelendirme kuruluşlarını ve bu kuruluşların derecelendirme değerlerini araştırmayı amaçlamaktadır. Yöntem/Tasarım / Metodoloji / Yaklaşım: Derecelendirme firmalarını ve onların verdikleri derecelendirmeleri araştırmak için TKYD web sayfasından 2007 yılından 2010 yılına kadar yıllık veriler elde edilmiştir. Bu veriler kullanılarak yapılan ayrıntılı bir araştırma bulunmadığından basit tanımlayıcı istatistikler ve veri görselleştirme teknikleri kullanılmıştır. Bulgular: İki ana sonuç elde edildi. Bunlardan birincisi Türkiye’de iki baskın derecelendirme firması olduğunu göstermektedir. İkincisi incelenilen firmaların derecelendirme değerlerinin yıla bağlı olarak arttığını göstermektedir. Özgünlük: Türkiye’deki kurumsal yönetim derecelendirme kuruluşlarının derecelendirme değerleri ile ilgili kapsamlı bir analiz olmaması nedeniyle, bu makale gelecekteki araştırmacılar için temel bilgiyi oluşturacaktır.

Anahtar Kelimeler:

Kurumsal yönetim, firma performansı, derecelendirme, Türkiye

CORPORATE GOVERNANCE RATING IN TURKEY: INVESTIGATION OF SCORES OF FIRMS

After the corporate governance crisis in 2001, and the crises in the following years increased the concern about the governance of the firms. The concern focused on corporate governance. There were important developments in Turkey related to corporate governance after 2003. The Capital Markets Board of Turkey (CMB) published “Corporate Governance Principles of Turkey” in 2003, and the corporate governance rating agency's rules were published in Official Gazette in 2007. Purpose: Based on these developments, the paper aims to investigate corporate governance rating firms in Turkey and their rating scores. Method/Design/Methodology/Approach: To investigate the rating firms and their scores, annual data are collected from the TKYD website from 2007 to 2010. Because no article comprehensively investigates the data, we use simple descriptive statistics and data visitation methods. Findings: We find two main results. The first one shows that there are two dominant rating companies in Turkey. The second shows that the firms have increasing rating values by year. Originality: In the absence of any comprehensive analysis of Turkey's corporate governance rating firms' rating scores, this article will constitute base information for further research.

Keywords:

Corporate governance, firm performance, rating, Turkey,

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