Proceedings of Annual Paris Economics, Finance and Business Conference
7 - 8 April 2016, Espace Vocation Haussmann, Paris, France
ISBN: 978-1-925488-04-3
Board Structure and Firm Performance: Evidence from BIST
100 Companies in Turkey
Mete Karayel1 and Mesut Doğan2
This study examines how board structure affects firm performance.
Female directors, independent directors and foreigndirectors and board
size were taken as the indicators of board structure. The empirical
analysis, based on a sample of 100 firms drawn from the BIST 100
Index over a 3-year period, the years between 2012 and 2014. In the
study, for financial performance indicators, Return on Assets, and
Return on Equity were used and for market performance indicator
Market Value to Book Value was used. After the analysis, it is found
that, board structure has an impact on firm performance in BIST 100
companies. This study is unique in terms of analyzing the effects of
2012 regulation of mandating at least 1/3 of all board members to be
independent directors and suggesting at least one female director to
BIST 100 company boards by Capital Boards of Turkey.
JEL Codes: G34, M14, L25.
1
Correspondant Author, Assist. Prof. Dr., AfyonKocatepe University, Faculty of Economics and
Administrative Sciences, Department of (English) Business Administration Department,
karayelmete@gmail.com, mkarayel@aku.edu.tr
2
Dr. AfyonKocatepe University, Bayat Vocational School, Department of Business Management,
mesutdogan@aku.edu.tr