CORPORATE GOVERNANCE FOR SUSTAINABILITY: THE NECESSARY REFORM OF TURKISH COMMERCIAL LAW

Basit Öğe Kaydı
dc.contributor.authorArsava, Ayşe Füsun
dc.date.accessioned2025-01-06T17:24:26Z
dc.date.available2025-01-06T17:24:26Z
dc.date.issued2022
dc.departmentAdana Alparslan Türkeş Bilim ve Teknoloji Üniversitesi
dc.description.abstractThe corporate governance discourse in Turkey is inspired by the AngloSaxon law and economics way of thinking, which mostly focuses on principal-agency issues. Thus, much attention has been paid to the shortterm maximization of returns to shareholders. However, the current focus of the Turkish commercial law gives rise to a loophole that prevents the development of sustainable business. The result of profit maximization focus is that corporations fail to consider environmental and social issues and integrate them into their strategic planning. Turkey has made a great progress in regulatory framework of corporate governance since the reformation of the Turkish Commercial Code in 2012. Yet, corporate sustainability still remains to be addressed. In this context, the Sustainability Principles Compliance Framework is prepared and put into effect by the Capital Markets Board of Turkey on 02.10. 2020. This study aims to investigate the legal basis for the integration of sustainability into corporate governance principles of Turkey and to reveal the barriers to corporate sustainability and as a result it offers complementary reform proposals. The Sustainability Principles Compliance Framework is useful, insofar as it feature as a starting point in legislative initiatives. The argument this article puts forward is that in order for a better compliance, the following points need to be adressed; reformulating the purpose of the company in the company law, integrating corporate sustainability into the duties of the board of directors and determining clear reporting and auditing standards.
dc.identifier.endpage1022
dc.identifier.issn1303-4650
dc.identifier.issue2
dc.identifier.startpage991
dc.identifier.trdizinid1135661
dc.identifier.urihttps://search.trdizin.gov.tr/tr/yayin/detay/1135661
dc.identifier.urihttps://hdl.handle.net/20.500.14669/1245
dc.identifier.volume19
dc.indekslendigikaynakTR-Dizin
dc.language.isoen
dc.relation.ispartofYeditepe Üniversitesi Hukuk Fakültesi Dergisi
dc.relation.publicationcategoryMakale - Ulusal Hakemli Dergi - Kurum Öğretim Elemanı
dc.rightsinfo:eu-repo/semantics/openAccess
dc.snmzKA_20241211
dc.titleCORPORATE GOVERNANCE FOR SUSTAINABILITY: THE NECESSARY REFORM OF TURKISH COMMERCIAL LAW
dc.typeArticle

Dosyalar

Koleksiyon

TR-Dizin İndeksli Yayınlar Koleksiyonu