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  • Corporate Governance and Tunneling: Empirical Evidence from Turkey 

    Authors:Akben Selçuk, Elif; Sener, Pınar
    Publisher and Date:(Economics Bulletin, 2018)
    This study investigates whether internal governance mechanisms affect tunneling through intercorporate loans for a sample of Turkish listed non-financial firms over the period 2006 to 2014. While the findings reveal a significant and positive relationship between state ownership and tunneling and a significant and negative relationship between foreign ownership and tunneling the relationship between family ownership and tunneling is non-linear. In addition while board size is negatively associated ...

  • Does governance affect corporate diversification behaviour in emerging markets? 

    This paper investigates the role of firm-level and country-level governance on corporate diversification behaviour in emerging markets. The results show that firms with combined leadership structure are more diversified while firms with more independent directors are less diversified. There is a U-shaped relationship between ownership concentration and diversification. No significant association between country-level shareholder protection and diversification is demonstrated.

  • Family involvement, corporate governance and dividends in Turkey 

    Purpose The purpose of this paper is to investigate the relationship between dividends and family involvement as well as corporate governance characteristics among Turkish public firms. Design/methodology/approach Using panel data on Turkish firms listed on the Borsa Istanbul 100 index for 2006-2014, three models are estimated. For the first two models, where the dependent variables are the dividend payout ratio and dividend yield, respectively, tobit regressions are run. The last model, which ...