Effects of the structure of board of directors on the effectiveness, strategy development and firm performance: A study on the Anatolian 500 companies in Turkey

Argument of the board of directors that is getting more and more important is one of the leading subjects that is approached with interest. While board of directors located in the center of institutional corporate administration, it is seen as the most important decision center of the companies and most important representation body in many occasions. Board of directors are especially in the center of large scaled and open to public organizations administration applications and plays a fundamental important role. This is why is very important to understand the dynamics that effects board of directors. Most fundamental and desired goal of this study is to present structural features of the board of directors in large scaled companies in Turkish scale. Besides, to determine the relationship between activity of the institutes and strategical capacity with dynamics that determines the board structure. As the bulk sample of the study, a survey project has been executed on the companies that is in Anatolian 500 list which is thought to let regional intentions. As a part of the study complete of the 500 companies has been reached and the data of the 200 companies that gave a positive response has been analyzed. According to the findings of the result of the hypothesis trials which is developed within the purpose of the research, the features like board member, independency of the board, gender distribution of the board, professional experiences of the board and age average doesn't cause any difference. Also it doesn't cause any difference on the ability to develop strategy of the administrational boards. In return, existence of a meaningful and positive relationship between board of directors activity and operational performance has been determined. Again, a powerful and positive relationship has been determined between operational performance and strategy development ability of the board of directors. Keywords: Board of Directors, Structure of the Board, Corporate Governance.