The corporate governance in Turkey and the effects on firms financial performance

Globalization that occurs along with technological development decreases the importance of physical boundaries of countries and make the world smaller. The high level of capital flow of the world, the capital security is as important as the capital gain. Firstly OECD and the other international corporations make lots of arrangements to ensure the gain and the security of the capital. This increases the competition among international capital markets. As the countries start to make some arrangements that adequate the international conditions to pull the foreing capital that they need, the corporations try to increase their competetive advantage in response to the other countries. Today, the management of the companies that grows and needs the foreign capital and creates economical and social problems is important. As the company scandals and the economic crises occur, unsuccessful conditions of firms are begin to be researched. After these developments the concept of ?corporate governance? has born. Corporate governance, to manage the companies as to take into account of all stakeholders of the company, is tried to be rised to a level of implementations with some principles that are the result of international corporations? arrangements. In this study, it is aimed to analyze the capital ownership that is affected by legal, economic and social dimensions and control structure of companies that operates on the stanbul Stock Exchange (IMKB 100) and the effects of these concepts to financial performance. The variables are used from the capital ownership literature and some variables are developed about the control structure. As the capital ownership and control structure are related to financial performance, some hypothesis are tested by the regression models. Excel, SPSS and EViews softwares are used for the analyses, then the results are interpreated. Key words: 1) Corporate governance, 2) Capital ownership, 3) Control structure, 4) Financial performance