Corporate Governance and Tunneling: Empirical Evidence From Turkey
No Thumbnail Available
Date
2018
Authors
Akben Selçuk, Elif
Sener, Pınar
Journal Title
Journal ISSN
Volume Title
Publisher
Economics Bulletin
Open Access Color
OpenAIRE Downloads
OpenAIRE Views
Abstract
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 with tunneling independent directors do not prevent the embezzlement of resources. Furthermore the results indicate that while older firms firms with family chairman and higher growth opportunities are more likely to engage in tunneling activities firm size high cash holding leverage and financial distress do not affect tunneling.
Description
Keywords
Turkish CoHE Thesis Center URL
Fields of Science
Citation
6
WoS Q
Scopus Q
Q3
Source
Volume
38
Issue
1
Start Page
349
End Page
+