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Handbook of Energy and Environment Policy

Edited By Celil Aydin and Burak Darici

The book deals with the broad perspectives on the energy and environment topics and questions the traditional view on energy and environment policy and issues. Nowadays, energy and environmental issues can be accepted as the related subjects by the whole world. The link between energy and environment is backed to the time when only nature's primary resources were used. Primitive societies’ energy demand was small compared to the forces of the environment. With the emergence of industrial nations, the importance of energy and environment relation appeared again.

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10 Compliance with Corporate Governance Principles: An Analysis of the Companies in the Electricity Index of Borsa Istanbul

Extract

Metin Kılıç

10   Compliance with Corporate Governance Principles: An Analysis of the Companies in the Electricity Index of Borsa Istanbul

Introduction

The problems experienced in company management since the 1990s have led to the emergence and development of corporate governance practices. In particular, corporate governance practices have gained a wide range of application with the support of global organizations such as the OECD and have experienced a rapid expansion process in capital markets. This process is still increasing its efficiency. Mostly the Capital Markets Board has affected, led, and improved corporate governance practices in Turkey. Although the main principle of corporate governance practices is “apply and if this is not possible, state the reason”, some corporate governance practices were included in the legislation with the changes made to the Commercial Code, and companies were forced by law to perform some practices. The corporate governance principles proposed by the Capital Markets Board have brought about challenging provisions and practices for companies subject to the capital market legislation. It is acknowledged that the increasing usage of these principles has contributed to the functionality of the capital markets.

Public companies influence many interest groups with their activities, and they are affected by many interest groups. Shareholders and stakeholders of these companies regard it as a legal right to obtain information about public disclosure and transparency, relations with stakeholders, and the structure and functioning of the board of directors. Companies explain the extent to which...

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