Evaluation of corporate governance principles according to Turkish commercial code numbered 6102

Abstract

The framework to institutionalization and corporate governance is determined by Turkish Commercial Code numbered 6102. In other words, Turkish Commercial Code has arisen as a legal full text of both concepts. Relevant parts of Turkish Commercial Code set the basis for articles about corporate governance pertaining to transparency, equity, responsibility and accountability which are formed within Anglo-Saxon law system. Moreover, in order to increase the opportunities for more and faster credit usage and going to public in capital markets; transparent, clear, comparable and high quality financial reports stands out as principles of new Turkish Commercial Code. So as to present convenient financial reports with International Accounting Standards, businesses should complete their backgrounds for corporate governance. It’s widely known that, principles of corporate governance rests on basis for producing qualified financial reports and quality standards. The aim of this study is to evaluate principles forming corporate governance concept from Turkish Commercial Code’s aspect. Relevant articles in Turkish Commercial Code are scrutinized and inferences about are put forward.