Value relevance and corporate governance: An application on Borsa Istanbul

This study examines the relationship between earnings per share, net asset value, and corporate governance variable that affect the stock returns of companies included in the Borsa Istanbul Corporate Governance Index. The study data the data of 28 companies that were traded in 2019 on the Borsa Istanbul Corporate Governance Index between 2008 and 2018. Three models were determined for the study and these models were examined by panel data analysis. According to the findings that were obtained from the study, there was a statistically significant relationship between earnings per share, the square of the volume of the board of directors, the gender of the chairman of the board, the ratio of independent member, and the stock price. Keywords: Value Relevance, Corporate Governance, Borsa Istanbul Corporate Governance Index, Panel Data Analysis