Corporate governance and initial public offerings in Turkey

Yamak, Sibel; Ertuna, Bengi

doi:10.1017/cbo9781139061513.021

Cited by 6 publications

(3 citation statements)

References 25 publications

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“…The majority of the respondents -80% of the samplewere owners, consistent with the fact that family business groups and family management dominate the Turkish business system (Buğra, 1994;Yamak and Ertuna, 2012). Non-kin professional executives constituted the minority of final decision-makers, both at the single business level and business groups level, due to their relatively weak position in the Turkish business system (Yamak et al, 2006).…”

Section: Research Findingsmentioning

confidence: 77%

CSR and Leadership Approaches and Practices: A Comparative Inquiry of Owners and Professional Executives

Yamak

Ergur

Karataş‐Özkan

et al. 2018

European Management Review

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This study generates comparative insights into CSR approaches of owners and non‐kin professional executives in an emerging country context, Turkey. Drawing on 61 interviews, we found that ownership status of the executive is crucial in shaping their CSR perceptions and practices. Owner‐executives are empowered in pursuing CSR approaches based on their personal preferences and values; they have mostly societal aims. Professionals display tendency for company‐related CSR practice; they exhibit greater knowledge of CSR, and their CSR initiatives are the results of strategic choices to enhance their power within the corporation. Our paper contributes to the debate on the drivers for CSR by accounting for both societal and individual influences on the CSR agency of these two key groups of executives. First, we develop a typology of CSR approaches of owners and professionals. Second, we provide insights from an emerging country context. Third, we present empirically grounded practice implications for CSR.

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Section: Research Findingsmentioning

confidence: 77%

CSR and Leadership Approaches and Practices: A Comparative Inquiry of Owners and Professional Executives

Yamak

Ergur

Karataş‐Özkan

et al. 2018

European Management Review

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“…For example, Yurtoğlu (2000) reported that a clear majority (63%) of public firms held an average of 53.8% of the equity capital and the ownership concentration rate of these firms has continued to increase in the 2000s. The average share of the largest owner was 43.8% in 1999, increasing to 46.2% by 2009 (Yamak & Ertuna, 2012). Blockholders are generally families; they control more than 75% of publicly listed organisations (Uğur & Ararat, 2006;Yurtoğlu, 2000).…”

Section: Ownership Structure In Turkey and Its Effects On The Performmentioning

confidence: 99%

Performance sensitivity of executive pay: the role of ownership structure, board leadership structure and board characteristics

Ataay

2018

Economic Research-Ekonomska Istraživanja

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This study first investigates the effect of firm performance on executive pay in listed firms in Turkey, an emerging market from 2009 to 2013. The results reveal a positive and significant link between firm profitability and executive pay: executive pay is sensitive to performance. The question of whether internal corporate control mechanisms play a significant role in the association between executive pay and firm profitability is revisited. Executive pay is weakly tied to profitability when the ownership concentration is high. We expected that, following the managerial power propositions, leadership duality and board size will weaken performance sensitivity of executive pay, with the impact of board independence on this sensitivity being the opposite. However, it was found that only board leadership duality and board size negatively affect the association between return on equity and executive compensation. This study concludes that the performance sensitivity of pay is weaker when executives have more control over decisions, especially those related to their compensation, and when the board of directors' monitoring effectiveness is relatively low.

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“…Turkish business structure is traditionally based on family‐dominated ownership and management, which upholds family and family‐related values above and beyond demands of professionalism (Çolpan, ). Families own and actively control the majority of trading companies (Yamak and Ertuna, ; Yurtoğlu, ). Due to the patriarchal nature of family businesses, where men have easy access to the upper echelons, gender has a fragmented nature in terms of symbolic violence and symbolic capital.…”

Section: Examining Gender and Symbolic Capital And Violence In A Turkmentioning

confidence: 99%

Gender as Symbolic Capital and Violence: The Case of Corporate Elites in Turkey

Yamak¹,

Ergur²,

Özbilgin³

et al. 2015

Gender Work & Organization

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Based on a Bourdieusian approach, drawing on qualitative analyses of 63 life interviews, our study demonstrates that gender is performed as both symbolic capital and violence by corporate elites within the dominant ideologies of patriarchy and family in Turkey. Our analysis reveals that, in the male-dominated context of Turkey, female elites appear to favour male alliances as a tactical move in order to acquire and maintain status in their organizations, whereas male elites appear to remain blind to the privileges and constraints of their own gendered experience of symbolic capital and violence. Our study also illustrates that gender order is still preserved, despite beliefs to the contrary that equality in education, skills, experience and job performance may liberate women and men from gender-based outcomes at work

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Corporate governance and initial public offerings in Turkey

Cited by 6 publications

References 25 publications

CSR and Leadership Approaches and Practices: A Comparative Inquiry of Owners and Professional Executives

CSR and Leadership Approaches and Practices: A Comparative Inquiry of Owners and Professional Executives

Performance sensitivity of executive pay: the role of ownership structure, board leadership structure and board characteristics

Gender as Symbolic Capital and Violence: The Case of Corporate Elites in Turkey

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