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Journals / Finans Politik ve Ekonomik Yorumlar Dergisi / 2015 / Cilt: 52 - Sayı: 601

Comparing the Corporate Governance Ratings and Efficiency Values of the Manufacturing Companies Listed in Istanbul Stock Exchange Corporate Governance Index

Borsa İstanbul Kurumsal Yönetim Endeksi'nde Yer Alan İmalat İşletmelerinin Etkinlik Değerleri ile Kurumsal Yönetim Notlarının Karşılaştırılması*

Amet Selçuk DİZKIRICI
Filiz KONUK
BAYRAM TOPAL
Pages
79–96
DOI
—
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AI Summary & Key Takeaways

AI Insight
⚡ TL;DR(Too Long; Didn't Read)

Finally, the efficiency data that we have computed and the corporate governance ratings are compared to determi- ne if a statistically significant relationship exists.

📌 3 Key Takeaways

🎯
Objective & Hypothesis:This study aims to find out the existence of a relationship between corporate go- vernance ratings of companies and their efficiency values.
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Key Findings & Data:Corporate governan- ce ratings indicate the compliance to corporate governance principles and here we consider efficiency values as the measurement of financial performances.
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Conclusion & Impact:Finally, the efficiency data that we have computed and the corporate governance ratings are compared to determi- ne if a statistically significant relationship exists.
🔬Design:Research Article
📍Scope:2012-2013 Verileri
⚙️Variables:Domain Parameters

Abstract

This study aims to find out the existence of a relationship between corporate go- vernance ratings of companies and their efficiency values. Corporate governan- ce ratings indicate the compliance to corporate governance principles and here we consider efficiency values as the measurement of financial performances. If the mentioned relationship exists, it is necessary to estimate its significance. We calculate the financial performances of the manufacturing companies listed in Is- tanbul Stock Exchange Corporate Governance Index as follows: their values in the mentioned index over their financial ratios for 2012-2013 are computed by using Data Envelopment Analysis. Hence, efficient and inefficient companies are determined. Afterwards, the efficiency changes of each company is calculated using Malmquist Index for the stated period. Finally, the efficiency data that we have computed and the corporate governance ratings are compared to determi- ne if a statistically significant relationship exists.

Özet

Bu çalışma işletmeler için kurumsal yönetim ilkelerine uyumu ifade eden kurum- sal yönetim notları ile işletmelerin etkinlik değerleri arasında bir ilişki olup olmadı- ğını eğer mevcut ise bunun ne derece anlamlı olduğunu test etmek amacıyla ya- pılmıştır. Çalışmada Borsa İstanbul Kurumsal Yönetim Endeksi’nde işlem gören imalat işletmelerinin etkinlik değerlerinin hesaplanması amacıyla öncelikle en- deksten seçilen işletmelerin finansal verimlilik değerleri 2012-2013 dönemine ait her bir yıl için finansal oranları üzerinden Veri Zarflama Analizi (VZA) ile ölçülerek verimli ve verimsiz işletmeler tespit edilmiş ardından her bir işletmeye ait verimli- lik değişimi söz konusu dönem için Malmquist Endeksi’ne göre ölçülmüştür. Son olarak; elde edilen etkinlik değerleri ile işletmelerin kurumsal yönetim notları kar- şılaştırılarak aralarında istatistik olarak anlamlı bir ilişkinin varlığı araştırılmıştır.

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Cite This Article

DİZKIRICI, A. S., KONUK, F., TOPAL, B. (2015). Comparing the Corporate Governance Ratings and Efficiency Values of the Manufacturing Companies Listed in Istanbul Stock Exchange Corporate Governance Index. Finans Politik ve Ekonomik Yorumlar Dergisi, Cilt: 52 - Sayı: 601, 79–96. https://ajindex.com/articles/223930

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