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| Tekijä: | Ugur, M. Ararat, M. |
| Otsikko: | Does macroeconomic performance affect corporate governance? Evidence from Turkey |
| Lehti: | Corporate governance
2006 : JUL, VOL 14:4, p. 325-348 |
| Asiasana: | corporate governance turkey macroeconomics institutions economic crisis stabilization |
| Kieli: | eng |
| Tiivistelmä: | Although the influence of corporate governance quality on macroeconomic crises has been widely studied, the possibility of reverse causation has been neglected. This article explores the relationship between macroeconomic stabilisation and corporate governance reforms in Turkey. Two reasons have led to the prospects of macroeconomic stability influencing corporate governance reforms: 1) public governance reforms have spilled over to the area of corporate governance (statutory reform effect), and 2) macroeconomic stability tended to have a positive effect of firms' investment in corporate governance quality (voluntary reform effect). |
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