TY  - JOUR
TI  - VALUE RELEVANCE OF CORPORATE GOVERNANCE TO STOCK INVESTORS: EMPIRICAL EVIDENCE FROM AN EMERGING MARKET
AB  - The aim of this study is to investigate the benefits provided by corporate governance tostock investors. For this purpose, companies which are included in the corporate governanceand the dividend return indices have been examined. The data include BIST CorporateGovernance Return, All Return and Dividend Return indices. Empirical analysis has beenperformed through OLS regression along with Beta calculations. The results of the study haveshown that corporate governance has a positive impact on risk management and internalcontrol constituents of companies. Corporate Governance Return index and All Return indexdecrease in parallel to each other when indices fall down (beta down). However, the decreasein the former index is less than the decrease in the latter one. Therefore, we argue thatencouraging conformity to principles of corporate governance will generate benefit toshareholders and companies at micro level while also providing a more transparent investmentenvironment and advancing the capital market.
AU  - KAYMAZ, Mike Önder
AU  - Öcal, Hüseyin
PY  - 2019
JO  - Akademik Hassasiyetler
VL  - 6
IS  - 11
SN  - 2148-5933
SP  - 109
EP  - 125
DB  - TRDizin
UR  - http://search/yayin/detay/312597
ER  -