An Investigation of Corporate Governance Practices of Businesses in Terms of Financial Performance: An Application on Borsa Istanbul Corporate Governance Index Companies

Authors : Mehmet Yusuf Güngör, Ayben Koy

Pages : 23-39

View : 160 | Download : 314

Publication Date : 2025-12-19

Article Type : Research Paper

Abstract :This study examines the impact of corporate governance on financial performance in firms listed on the BIST Corporate Governance Index (BIST XKURY) over the 2010–2022 period using panel data analysis. The significance of the research lies not only in investigating this relationship but also in analyzing the role of female representation on board of directors. Corporate governance is evaluated across four dimensions: shareholders, transparency, stakeholders, and the board of directors. Financial performance is measured through ROA, ROE, and EPS, with firm size and leverage included as control variables. The sample is divided by a 25% threshold of female board members. The findings indicate that in firms with ≥25% female representation, the link between board effectiveness and profitability is stronger, highlighting the performance-enhancing role of gender diversity.
Keywords : kurumsal yönetim, finansal performans, derecelendirme

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